The city of Sarasota, Florida has a relaxing lifestyle that serves as a magnet for many tourists, home buyers and retiring baby boomers. With the wonderful stretch of white-sand beaches only a few minutes away, this part of the state has been viewed as a perfect year-round vacation destination.
Life on the Sarasota waterfront or on the beach is a delightfully relaxing experience, and every lifestyle imaginable, or the quality of real estate you could want, is available on this vibrant property market. Located between the Gulf of Mexico and Sarasota Bay, are a number of islands called "keys" as they are locally called. These lovely island destinations are also filled with a wonderful array of waterfront homes and condos.
Waterfront Home Values Have Steadily Risen Here
For those who yearn to buy waterfront homes in this lovely community, many would most likely hear words such as "they are not making any more of it," which would mean that there is a scarcity of homes to be found.
However, those words are intended to mean that the scarcity of waterfront properties is a vital contributor to their sustained value, and that because of this, these homes will be able withstand the ups and downs of the general property market than other properties. When it comes to waterfront properties here, this certainly would be the case.
What To Consider Before Buying Waterfront Homes In Sarasota
Determining which waterfront property or house to make an offer on shouldn't be taken lightly, or decided in a drastic manner. The selection process and decision-making should be done in a rational way, and should not be guided by pure emotions.
While you, of course, may not have the luxury of taking your time on deciding which house you'd like to buy, as you would be in a market wherein these types of homes get quickly grabbed up as they go on the selling block, and may even attract a lot of offers. However, in some situations, you could probably even find yourself stuck between two houses, so sometimes the best thing to do is get a pen and paper, and make an outline of your family's needs, your budget, and the advantages or disadvantages of each house.
- Look At The Neighborhoods. If your two final contending homes are in different neighborhoods, evaluate the pros and cons of each. Consider factors, like if you have kids and being close to a park is important, you'll probably want to consider that. You could also prefer being close to shopping centers, restaurants, churches, and other services.
In addition, also verify if the homeowners in both neighborhoods landscape and maintain their homes nicely, and find out how long it would take you to commute to work in each location.
- Compare the houses with others in the neighborhood. While it may increase your self-esteem in buying the largest house on the block, it' would be a much better idea to stay away from purchasing such large homes, because when the time comes to sell it, you'll find out that the lower value of your neighbors' homes will also help in shrinking your home's value.
- Look at the sellers' situations. If you don't know that yet, you could inquire from your real estate agent on how long has each home been on the selling block. Usually the longer a house has been listed on the market, the better the chances that the seller will accept an offer that is much lower than the asking price.
- Check the home appreciation values of each neighborhood. If the two waterfront homes you're setting your sights into are locate in different parts of town, or in different neighborhoods, verify with you real estate broker if he could retrieve the sales of homes in those neighborhoods over the past few years.
If one neighborhood indicates for example, an annual average increase of 8 percent, and another one is going above the roof at 15 percent, you'll know what to do, and could decide which one to purchase by then.