Isla del Sol, Tierra Verde, and St. Pete Beach are dotted with beautiful waterfront homes and properties. Without a doubt, these houses make the most out of their sunny location by the ocean. But in this day and age, are waterfront homes still a great investment?
The short answer is a resounding yes. And here are a couple of reasons why.
- There is high demand for waterfront homes.
Waterfront homes remain to be highly sought after among real estate investors because of the high demand, which runs disproportionate to the supply. There aren’t a lot of waterfront properties, even in communities like St. Pete Beach and Tierra Verde. This housing type only takes up a small part in the overall real estate market.
Because of the demand, waterfront homes continue to increase in worth. But that is not the only thing that drives up its value.
- Location, location, location.
Location has a massive impact on waterfront properties. First of all, these homes and condos do not get to be called waterfront if they are not located close to the water. In the St. Petersburg area, such locations are by the beach or a canal or river.
Second, a waterfront location is profitable. If you do not plan to live on the waterfront property full time, you can turn it into a vacation rental with tremendous potential to earn additional income.
- Great resale value.
High demand, coveted location, and limited supply all guarantee that waterfront homes keep great resale value. Of course, property depreciation is still not out of the picture, but it only occurs in rare instances.
Should the time come for you to sell the waterfront property, you can rest assured it will be sold and for a handsome price. The return on your investment will be significant and truly worth it.
- It can be your retirement home.
A waterfront property at present time can be your secondary home and vacation rental when not in use. If you have no plans to sell it and the time comes for you to retire, you already have a home to live out and enjoy the rest of your golden years. After all, nothing beats retiring to a place you’ve fallen in love with.
In the long run, the waterfront property can also be passed on to future generations, provided it is well-maintained and taken care of.
- You get to save money.
With a waterfront property, equipped with amenities that fit your lifestyle, at your disposal, there is little reason to stay at a nearby resort. As a result, you get to save money in the long run.
Vacations can be flexible. You and your family can go for a “staycation” whenever you want and change plans without worrying about re-booking or cancellation fees. The waterfront home is yours− you can do whatever you want to do with it.
LLooking for waterfront homes for sale in St. Petersburg, FL? The Estabrooks Group can help. Contact the team today to browse waterfront homes for sale in the area.