There can be several reasons why you may want to own a home in Cape Coral, from the fact that it makes for great vacation homes to all the benefits of owning a Florida home.
But before you undertake such an expense, here’s a little guide that’ll help you make the right choices along the way:
1. Look At The Property
If you’re purchasing Cape Coral real estate, then there’s a fair chance you’re going to be looking at a waterfront property.
In this case, it’s important to pay attention to not just the house but also the land around it. For example, some of the things you should be looking at include:
- The seawall should be able to protect the house from water
- If the house is near a water body, you may notice a lot of tourists around.
- Ensure that the house can accommodate your boat if you have one already or are planning to purchase one later.
2. Find Out How To Monetize The Property
Many people pay a down payment on a home and then rent it out, using the earned income for mortgages.
If you’re purchasing the property with the intention of only visiting it occasionally, then it’s a good idea to find out the following things:
- The best season to put it up for rent
- Which type of clientele is best to rent it out to
- How often does it need to be rented out to cover the mortgage payments
With Cape Coral already being a popular tourist area, you’ll definitely see enough demand for your rental house.
3. Loans and Insurance
Beachfront properties are expensive, and it’s not wise to put all your money into one property at a time, which is why you should research the types of loans you should secure beforehand and start working to attain them early on.
Also, if it’s a beachfront property, it’s best to determine how to insure your house to secure it in case of a natural disaster.
4. Get a Cape Coral Realtor
Getting a realtor in Cape Coral is one of the smartest moves you could make. At Del Prado Realty, we offer all sorts of real estate services, from homes for sale in Cape Coral to rentals, real estate maintenance, and new construction management.