The search for Ocean City real estate can get a bit overwhelming with all the different property types and locations to choose from. To assist with this I thought it would be helpful to provide a list of the primary property features you should consider as you start your search for the perfect beach place.
One of the first things to determine as you begin your property search is the price range that you would like to stay in. This price range will ultimately determine which locations and size properties will be available to you. At this point you will also want to consider if you are going to rent your Ocean City real estate as the potential rental income could impact this price range. I would be glad to provide you with rental estimates for the types of properties you are considering.
The next thing to determine is what size home or condo will best suit your needs. You will want to determine this based on the number of bedrooms and bathrooms that you would like to have as opposed to square footage. Floor plans and layouts of Ocean City properties will be different from your primary home and can be deceiving. It is best to start with bedrooms and bathrooms and then eliminate the smaller options based on square footage.
Now you will want to determine which of the various areas that make up the Ocean City real estate market you want to be in. These areas include direct oceanfront, indirect oceanfront, oceanside, ocean block, bayside waterfront, bayside interior and West Ocean City. Location options will largely be dictated by the price range you want to stay in and the property size you are looking for.
If you are considering renting your property its location will have a considerable impact on rental values and occupancy rates. As an example, property on the oceanside is more expensive than bay side property however the additional rental income it generates typically off-sets or exceeds the additional carrying costs.
Amenities and Property Features
Finally, you will want to determine any building amenities or property features that you "must have". This could be things such as a pool, elevator, first floor location, number of parking spaces, boat slip, etc. You will want to start with the "must haves" so you have a larger set of properties to begin your search with. From there you can adjust your search criteria accordingly based on the available property options.
I hope this provides you with some useful information to begin your Ocean City real estate search. Should you have any other questions or want to discuss this in greater detail feel free to contact me anytime at 443-614-9179. Additionally, I would be glad to set up some custom property searches for you, simply fill out this short Property Information Form.