How to Earn Top-Dollar for Your Coastal Property

When you ask people to describe their dream property, chances are many will express fantasies of living on the beach and/or a strong desire to live in warm, comfortable climates. There’s no denying the allure of coastal living is strong, and at a time when more people are able to work from home, including from anywhere in the world, many are looking to make their beach living dreams a reality. If you’re looking to sell your coastal property, the following offers helpful suggestions for preparing your home to spend less time on the market and receive top dollar.

Real estate professionals agree on factors that keep homes from selling, with the same applying to coastal properties—homes priced too high or that have not been updated tend to linger on the market longer. That being said, right now homes sell quickly because we are in a hot market that completely favors the seller.

In order to garner strong interest and improved chances of receiving top dollar, property owners should review comparables and consider investing toward improvements to make the property stand out online —it’s estimated ninety-seven percent of buyers begin their beach property searches on the internet.

 

Consulting with a Realtor experienced in listing coastal properties is an important step in landing on the right price for your home. An agent with knowledge of the market, identifying the best times to list, and advising sellers about issues that may exist within this specific and competitive market. A beachfront market will generally appeal to international, second-home buyers; therefore, employing the right strategies for pricing is crucial in generating interest and having these prospective buyers take the next step and potentially see the home in person and be one step closer to purchasing.

Today’s buyers conduct almost all their preliminary home searches online. A Realtor with a robust marketing strategy will help you market your coastal property to create the best first impression for prospective buyers.

Beachfront crowds do not line into a single type of buyer. There are a multitude of reasons buyers look to purchase a property near the beach. While some look to invest for profitability, others might be enticed by the idea of a spot for rest and relaxation. Still others will look to the available amenities to make their decision (i.e., watersports, summer getaways for family, the draw of sand and surf, etc.).

Regardless of their reasoning, a buyer looking to purchase a coastal home will likely have an expendable income, and a focus on luxury would likely serve as a strong strategy when marketing coastal properties. While you may not be able to pinpoint the beach scenario that will appeal to the ideal buyer, a general sales plan that spotlights many of the commonalities of those looking to purchase a beach home will put you ahead of the game.

Selling a lifestyle is one of the easiest ways to reach targeted audiences. Highlighting the home’s conveniences and emphasizing amenities, cultural activities, shopping, and dining options, and proximity to major venues or communities are key to include in the property’s marketing. For second-home buyers, knowing how far the property is from a major airport or highway could help make the decision process easier for them.

Staging serves to spotlight a home’s assets while helping to minimize flaws and is an important first step ahead of having the home professionally photographed to include in your marketing plan. It’s important a coastal home’s exterior is also shown to be attractive, and equal effort should be shown to demonstrate what sets your home apart.

Creating a budget for staging should be included in addition to the amounts needed to invest in cosmetic upgrades. Perhaps your property needs fresh carpet, new paint, or updates to dated countertops and cabinetry. In a competitive market like today’s, it’s important to go the extra mile to ensure your home’s photos reflect luxury and possibility. Show off beach views if your home includes them. Views of the water and a showcase of the home’s natural light create greater appeal.

One of the hottest trends and most appealing ways to stage a beach property is modern coastal style — a design aesthetic embracing minimalism and highlighting the home’s best qualities.

Incorporating a modern coastal style while using natural materials and opting for finishes that  capture a streamlined, minimalist aesthetic. Features included may resemble wood and canvas; embrace a neutral color palette, such as whites and cool blue hues; contemporary-looking materials and fixtures; and/or geometric shapes. 

For coastal property sellers, real estate experts suggest the spring/summer months offer the highest concentration of buyers, with peak sales occurring amid this especially busy time. Historically, the summer season has lent to superior sales among coastal properties.

Providing adequate market exposure time ahead of a sale is an idea that many people often overlook. Take advantage of the slower winter months to put together a marketing plan for your beach property and gain an advantage in anticipation of summer.

Gauging your competition is another important factor to keep in mind as you strategize your marketing. Older southern california coastal properties may be competing with newer developments in beach communities and giving buyers greater options for coastal properties to consider.

 

While new development may seem appealing to some, established homes with greater square footage and a better locale can beat their competition. Employ expert tools to paint a total picture for prospective buyers. This may include aerial footage, walk-through videos, and drone photos to illustrate the entirety of the home’s allure. Whereas new development may appeal to buyers in the short term, consider the ways in which older properties might benefit the buyer in the long term (i.e., zoning regulations, smaller lots, costly change orders, etc.).

If you’re ready to earn top-dollar for your coastal property, contact David Dippong today!