The city of Los Angeles is among the world’s most desirable and widely recognized locations. In spite of its overvalued real estate market, it continues to attract renters and homebuyers year after year. It wouldn’t be an exaggeration if we said The City of Angels is a safe bet for real estate investors. Buying a home in LA is a dream-come-true for many people, but buying a water view home in LA is a special privilege. However, that privilege isn’t without its downsides. If you’re wondering whether you should invest in Los Angeles waterfront homes, this article will help you decide.
Waterfront homes are always in demand
Although LA is a big city, the number of homes for sale along the shoreline is not unlimited. That means the demand is always high. This is both a pro and a con. Beating the competition and buying a good waterfront property is not easy, but the demand will always be there when you decide to sell or rent. With the help of experienced waterfront property real estate agents, finding buyers and renters should not take long. Besides, buyers are willing to pay a premium for stunning views and proximity to a body of water. Rents can be significantly higher as well compared to non-waterfront homes, which means covering your holding costs and even turning a profit should not be an issue.
The investment will retain its value for years to come
The value of waterfront homes rarely declines thanks to the high demand and limited supply. Thus, you can expect a great resale value. You can spend years and years renting your home or living in it without worrying about the impact of future housing markets.
Living near the water is like an eternal vacation
If you decide to spend more time in your waterfront home, your life can be very exciting thanks to all the fun activities the water offers. Swimming, boating, kayaking, water skiing, and diving are just some of them. Few people can resist the relaxed vibe and vacation atmosphere in these neighborhoods. If you move here full-time, your life will be like a never-ending vacation. Just think about it – millions of people save money for months just to spend a few days close to the water. They pay to do all those things waterfront property owners can do practically for free. Investing in a Los Angeles waterfront home means investing in an extraordinary lifestyle. Owning a home in an area popular with visitors normally means having excellent amenities within easy reach. You’ll have access to great shops, bars, restaurants, sports and wellness facilities, among other things.
However, the other side of the coin is the lack of privacy. As you know, many LA waterfront areas attract too many visitors. After all, Los Angeles is one of the most visited cities in the US. Hence, you could see lots of strangers in your neighborhood on a daily basis.
Waterfront communities are very sociable
After buying a waterfront home and moving in, you will notice that the community you are moving into is not your average community. Waterfront communities are usually more tight-knit. They are known for organizing community celebrations and events and having many clubs and societies linked to water-based activities. Thanks to a strong sense of community, you’ll be able to meet your neighbors and get involved in their activities in no time. Waterfront communities are also great for families with young children. Parents who want to raise children in a fun, friendly environment and spend more quality time with them should definitely consider investing in Los Angeles waterfront homes.
When you invest in Los Angeles waterfront homes, you invest in your health
You can enjoy several physical and mental health benefits if you invest in Los Angeles waterfront homes. Did you know that water can be therapeutic? This home could be your personal stress-free zone. You can escape to your waterfront home whenever the hustle and bustle of big-city life overwhelm you. This property could be your weekend/vacation home, but you could also ask for assistance when moving in LA area and move here full-time. In addition to being relaxing, waterfront areas that are more secluded are also less polluted and less noisy in comparison to other areas. Furthermore, a large body of water usually offers the perfect setting for various water sports. The outdoor activities we mentioned earlier are not only fun but they’re also healthy for you, so why not take advantage of owning a property so close to the water?
Owning a waterfront home comes with higher expenses
Waterfront homes are more prone to damage caused by water and weather conditions compared to non-waterfront homes. Consequently, insurance for a waterfront home can be much more expensive. If the home you are interested in is in a flood zone or has been flooded, the insurance price will be higher. In addition to insurance, there are many other expenses you should take into consideration, the main ones being regular repairs and maintenance. Maintaining a waterfront home involves numerous expenses traditional home owners don’t need to worry about.
Some waterfront properties come with strict rules
Local rules and regulations are some of the things you should investigate before you invest in Los Angeles waterfront homes. You might face some restrictions if you wish to renovate your home or increase its size, especially if it’s a neighborhood designated as historic. And some of the things you look forward to may actually be forbidden in your area. For example, you may want to have a dock or a boat launch, but are you allowed to build one on your property? The same goes for use of motor boats, wakeboards or jet skis. No one wants to pay a fine for enjoying their favorite sports and hobbies, so make sure you do your research before you start your search.