Oceanfront condos are condominiums located on or near a beach, and are frequently used as holiday or second homes by individuals who travel to the house on the weekends or during the summer. Owning an oceanfront condo entails waking up to the sound of waves and enjoying daily beach walks. Oceanfront condominiums provide greater privacy than most other locations. In many situations, you will have your own private pool and will not have to share it with other visitors. Additionally, some coastal residences include a private path to the beach. From New Jersey to Oregon and all the way to Hawaii, there are several beachfront villages with a classic laid-back beach attitude. Therefore, if you are in the market for beachfront condominiums, continue reading for the five most desirable coastal places for real estate investment.
Wailea, situated in South Maui and a mere half-drive hour from the island's main airport, is ideal for those seeking a tranquil atmosphere and authentic Hawaiian elegance. Children and adults alike are enticed by crescent-shaped beaches with warm waves just feet away. The Shops at Wailea are already an attraction, and the area's renowned golf courses are close for those wanting a more active escape. Nonetheless, simple pleasures such as walking along the Wailea beach path or seeing volcanic rock structures at Little Beach are as enjoyable for visitors. Condominiums in the neighborhood are in great demand and normally cost approximately $880,000. A cap rate of 5.8% will lighten your load when you drink a Mai Tai.
On Hatteras Island, winds are constantly high. Even if you are not a surfer, this barrier island in North Carolina will capture you with its huge beaches, laid-back vibe, and excellent seafood. The milder ocean temperatures in this area make it ideal for fly-fishing and other aquatic activities. The majority of Hatteras Island resembles the outer banks you visited as a youngster, with less residential and commercial growth and more beach. Condo prices are less than those of the northern outer banks, but the rental returns are frequently as high, and in some cases much higher. The typical condo price on Hatteras Island is $724,500.
Once a modest agricultural community, Delray Beach is now a thriving metropolis that attracts tourists and second-home purchasers with its year-round sunny coastline, upmarket eating scene, world-class buying, and lively nightlife. Delray Beach has been underrated for a very long time, and its feeder markets in New York and the quadra area have come to recognize how wonderful the lifestyle is here.
It's not unusual for individuals to live here permanently due to the absence of income tax, the high quality of public schools, the thriving local economy, and the abundance of recreational options. The desire for Delray real estate is tremendous. The median condo price in Delray Beach is around $399,000. The average sales price jumped by a staggering 65 percent from 2022 to well over $3 million in the first quarter of this year, while inventory availability decreased by half.
Ocean City is a seaside destination with century-old traditions, such as a vintage carousel formerly driven by a steam engine and a three-mile beachfront where vinegar-drenched French fries are a local specialty. In addition to blazing sunsets, neighboring golf courses, and spectacular surf breaks, this Atlantic coast location also has blazing sunsets. Here, the annual median revenue is roughly $21,000, but some evolve owners whose condos are perched on the sand or are just a short walk away make more to $64,000 over the same time period. The average beachfront condo price in Ocean City is about $420K.
The top-performing condo also provides facilities that wow, such as expansive outdoor living areas with beach views, outdoor showers for rinsing off sand, and access to private or community pools. Therefore, investors should search for these features when purchasing a property, or afford to install them later.
The Bolivar Peninsula is home to a 27-mile length of pristine splendor. Crystal Beach, High Island, Gilchrist, and Port Bolivar are all popular attractions within this low-key, technology-free Gulf Coast resort. Locals claim that it is one of those locations that transport you back in time, with mom-and-pop stores lining the streets and Big Kite and Surf Shop merchants being the dominant force in town. Don't bother about transportation either. You may rent golf carts on a daily or weekly basis and tour the beach to your heart's delight. Bolivar Peninsula condos are priced at about $299,354 and have a respectable cap rate of 5.6%, finishing out our top 5 Best places to purchase an oceanfront condo.
Oceanfront condos are the ideal option for first-time homeowners. If all you want from your vacation is to bask in the sun, having close access to the beach is a terrific amenity. You need simply walk outside of your beachfront condo into the sea or run on the sand. Additionally, you may not need to hire a beach chair or umbrella because you may already have one on your patio. Therefore, you can simply evaluate these top five locations for purchasing oceanfront condominiums.