Everyone loves the beach. Warm weather, the breeze, fun dips and dives—living near the water comes with plenty of benefits and advantages. If you’re browsing through oceanfront homes in Keawakapu and trying to decide if you should buy one or not, here’s a guide to possible costs and expenses.
Realtor
Finding property that meets all your requirements isn’t easy, not unless you know the area well. Even then, hiring a real estate agent is the best way to get your search started. Agents also help you negotiate for a better price, assist you with the ton of paperwork that comes with buying property and generally make life easier for you.
Borrowing costs
If you’re using a loan to buy one of the oceanfront homes in Keawakapu that you and your agent has checked out, you’ll need to determine what financing options are available to you. These costs can quickly balloon out of your control if you go for something unrealistic so align and adjust your buying expectations.
Property management
If you plan on owning a vacation home and turning that into a rental when the area is thick with tourists, then you might need to pay for the assistance of a property management company. That way, you’ll have someone else to look and care for the property, find and deal with tenants, hire contractors for repairs and ensure everything’s in order.
Insurance costs
You’ll need to buy insurance for the home as well, Investopedia says. Shop around with your agent’s help and find out which premiums work for your budget.
Bills
Don’t focus too much on the mortgage rate that you lose sight of your monthly bills and daily living expenses. From energy consumption bills and phone bills to food, groceries, gas allowance and more, you’ll need to stay on top of these costs as well.
