Real Estate

Have $500,000? Here Are Five Waterfront Homes for You.

Outdoor area The residence has a spacious balcony.

Taxes .625 p.c of residence worth yearly

Price $399,000

In a city that’s a part of the upscale waterfront area of the Hamptons, this residence is in a gated beachfront advanced that has three different buildings. Shared facilities for residents embody a heated pool, an out of doors bathe, 24-hour safety, parking and laundry. The hamlet of East Quogue is a part of Southampton, which is filled with notable eating places and shops.

Size 565 sq. toes

The residence This studio has a definite beachy really feel, with white cedar flooring and huge home windows that overlook the bay and are prime viewing spots to catch picturesque sunsets. The full-size kitchen has white finishes and an extended counter that doubles as a bar with seating. The sleeping space has a folding wood partition for privateness.

Outdoor area The residence has a bay-facing balcony that’s giant sufficient to accommodate a desk with 4 chairs.

Taxes about $40 a month, with $560 in home-owner charges

Avoid high locations Waterfront areas that have already got a thriving actual property market and are in excessive demand are inevitably costlier than much less established spots. “You’re going to pay a markup on a property in a popular destination,” mentioned Cicely Wedgeworth, managing editor for information and insights at realtor.com. If you’re eager on a specific location, nevertheless it’s out of your worth vary — Riviera Maya, Mexico, for instance — you’ll be able to most likely discover a much less expensive residence in a close-by area that provides the identical lovely seashores, however isn’t as well-known.

Opt for a two-bedroom condominium Rich Barnhart, proprietor of By the Sea Realty in Fort Lauderdale, Fla., which sells waterfront properties, mentioned two-bedroom waterfront flats provide probably the most worth. Homes which can be three or 4 bedrooms are exhausting to return by and extra expensive as a result of demand for them is so nice. Mr. Barnhart added that one-bedroom condominiums tended to not maintain their worth and weren’t the perfect funding. However, they’re a cheap possibility for second-home consumers who don’t want further area and plan to hold on to the property.

Consider lakefront properties Generally, properties on or close to lakes are extra inexpensive than beachfront ones, Ms. Wedgeworth mentioned. Buyers even have extra decisions to choose from. “There are more interior regions with lakes than there is coastline, which comes at a premium,” she mentioned. “You can get more for your money and find a larger property for less on a lakefront.”

Forgo the facilities While most waterfront developments or buildings have swimming swimming pools, count on to pay extra for resort-style facilities like spas, eating places and beachside meals and cabana service. If these extras aren’t a precedence, your price of dwelling — the house’s upfront worth and its month-to-month upkeep price — will likely be decrease.

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