The first thing that comes to mind when you mention coastal real estate is how excited you are to invest your hard earned funds in some form of real estate, which in turn grants you the honor of being the owner of a rental property. What is even more thrilling is that, while all the houses hold some potential, there are certain properties that perform well, regardless of the state they are in, or, on the other hand, properties that are newly built, and for that matter, invaluable.
Porto Montenegro resort represents a place with a great investment potential, and the thing that justifies this potential the most is precisely the fact that it’s coastal and luxurious, and if you want to find out why buying a coastal property is a seriously good investment, let us clarify it for you.
Coastal properties defined
Maybe coastal real estate sounds like a generic term, with the actual meaning referring to homes located near a major waterway. When it comes to the Balkan peninsula, the best coastal property available is located in Montenegro, and to be even more precise, in Tivat and Boka Bay, where people usually opt for buying their summer residences or rental properties.
Be that as it may, the coastal property being coastal and all, is that really enough to make this kind of property invaluable? If not, what does? What are you actually investing in and where do your funds go? How is this benefiting you? So many questions, and answer fortunately can be translated to the language of a laymen – yes it is, because prestige of owning a waterfront property matters.
In fact, to be frank, it’s not only a matter of prestige, there are also practical reasons that make coastal property purchase an excellent return on investment, and, apart from that, a reliable income stream and access to a vacation spot reserved solely for yourself. It is no wonder that many coastal homes investors claim that their rental income covers their expenses for the entire year, more often than not, which means that at the time they visit their property, they can effectively live for free.
Either way, before you plunge into this kind of investment it is good to get yourself familiar with the technicalities and the underlying economics involved, mainly concerning insurance rates, bills and property management.
So, what are the advantages of owning a coastal realty?
- Tourist attractions proximity – the popular surroundings and tourist sights allow you to be in the center of everything at all times. From cruise ports and marinas, beaches and zoos, a person who owns a home on the cost is in for a lot of activities.
- Higher property values – a general rule is that near the water homes prices usually cost more, their value typically rises even more, regardless of the changes in the market. Their value rarely drops, unless the property caught some severe damage or is in extremely distressed condition.
- Upper – class neighborhood – the coastal towns almost by default have a lesser rate of crimes, or other urban problems that larger cities usually suffer from. In fact, many adults who would like to invest into property, seek precisely coastal property in developing areas who have a safe neighborhood reputation.
Coastal homes insurance rate
Like we said, as a homeowner you need to have in mind the before mentioned insurance rates. The homeowners insurance on your coastal property is likely to be several times more expensive than that of your own home, mainly due to the mandatory flood insurance, which can vary, depending on the weather and proneness to different kind of natural accidents.
Luxury real estate investment bills
Buying a coastal property involves bill-paying above and beyond the mortgage, utility and cable, which means that your tax bill is likely to be hefty, given the high values of coastal properties. But, even so, if you decide to rent it over the year, be it on or off season, either way you will earn, since everything you invested in will be maintained by people currently renting the property, or, if you decided that you don’t want to rent it, the modern developing property ares have a service that will allow you to have property maintenance included in the price, therefore, providing you with the all the comfort you invested in, in the first place.
Luxury property management for a hassle-free ownership
In theory, property management involves a lot more than signing lease agreements and collecting rent checks, being that when something breaks, such as a refrigerator, you are wholly responsible for the repairs. Landscaping, painting, roof maintenance and pest control represent just a few other tasks that fall under coastal property owner’s purview – or does it?
Certain developing areas such as Porto Montenegro allows you to be enjoy a completely a hassle-free ownership, which is also our ultimate goal, to provide you with the best possible service, for the price you paid, thanks to the trusted professionals that operate in our midst, through a property rental service that will provide you with a secure, protected and a well take cared of home.
So, if you’re planning to invest into the coastal property or if you plan to a buy a coastal property in Montenegro, Porto Montenegro is your best bet, and the one that is truly worth of a purchase, with all the benefits you can enjoy once you buy it.