Planning on Buying Oceanfront Condos St. Petersburg, Florida? 3 Things to Know About Before You Make a Decision

Many people dream of having property of their own in a place like Florida mostly because of the serene beauty the place has to offer. People invest in flats, bungalows, and apartments, and are on a constant look for Canal front homes for sale in Bradenton, Florida. But one dream that a lot of them have in common is owning oceanfront condos St Petersburg, Florida. The beauty of the ocean surrounding the condos is like living in a dreamland. But before one decides in this regard, there are a couple of things that have to be kept in mind.

1. Oceanfront Rights and Regulations

When it comes to owning oceanfront condos St Petersburg, Florida, there are multiple regulations one needs to be aware of. These regulations vary from one specific oceanfront community to another but a lot of them are the same. The most important ones involve the number and size of the boats you can have on your property, the size of the dock, and what part of the water can you have access to. As a buyer, it is advised that you hire a real estate attorney to help you understand these factors.

2. Flood Insurance

This is something that you SHOULD NOT ignore under any circumstance. If you finance a property around the waters, you will have to carry a flood insurance policy along with a regular insurance policy for a homeowner. In case you are planning on applying for a mortgage and are unable to receive your flood insurance coverage, your application can easily be rejected. So, this is something you might want to take your time and wrap your head around it.

3. Resale Value

Though there are a lot of waterfront properties on sale in Florida, each property has its own value. This value to a large extent depends on where the property is located. For example, a property facing the ocean is going to give a better resale value as compared to one of the canal front homes for sale in Bradenton, Florida. This goes to prove that from an investment point of view, owning a waterfront property is definitely a better idea.

In case you are planning on investing in oceanfront condos St Petersburg, Florida, or any other kind of investment in terms of property, feel free to contact the Buyers Broker of Florida.