Buying a beach home, condo, or townhome in Ocean City or the surrounding beach areas is an exciting experience, as you are likely transitioning into another phase of your life! Our beautiful beaches, scrumptious restaurants, wide variety of activities, and family friendly atmosphere bring people to our town every single year. If you’re reading this blog, chances are you’ve been thinking about purchasing at the beach for a while now. With that being said, we want to make sure you have thought through these 9 things to make sure you find the perfect beach house, condo, or townhome in Ocean City, MD or the surrounding areas. You shouldn’t only be thinking about the number of bedrooms & bathrooms you want. There’s a lot more that needs to be considered before you pull the trigger and purchase real estate at the beach! We want to make sure you are as prepared as you can be… so, without further ado, let’s dive right in.

 

Know Your “Why”

Why are you buying your beach home? You should be able and ready to explain your reason(s) to your Realtor. Are you looking for a vacation getaway, an investment property, or a permanent residence? When you come to the beach, what do you do? What do you NEED in a beach property vs what do you WANT in your beach property? Know the differences and be able to explain them. Why? Because your goals will significantly influence the type of property you should be looking at. Knowing the answer to these questions and being able to explain the difference between your needs & your wants will help your Realtor (who we hope is the best Realtor at the beach) find you the absolute best property FOR YOU!

*Watch our YouTube Video on goal setting when buying property at the beach here!

Personal Use vs. Investment

Will you be using your new beach home purely for personal use, investment, or a blend of the two? You might be asking yourself, why does this matter? If you’re looking for a beach-home purely for your use, we need to focus 100% on exactly what YOU want, and WHY you want it. However, if you’re purchasing your Ocean City, MD beach property as an investment, we need to consider other things. Do you need to rent it? How much do you need to collect in annual rental income for it to be a sound investment? Is this property conducive to rentals? Will the Association allow short- or long-term rentals in the building or neighborhood? After we’ve answered all of these questions, we need to consider the long-term resale potential. Is this property in a high demand profile of the market? Will it be easy or difficult to sell in the future? All of these things will impact where we look, what types of properties we look at, and so much more. If you recently purchased, or have owned an Ocean City, MD condo for a while now and are considering renting it out to OCMD vacationers, contact our friends at Central Reservations! Here is a link to their website!

 

Long-Term Plans

Speaking of long-term potential – what is YOUR long-term plan for the property?  Your future plans can influence the type of property and location you choose. For instance, properties with strict Homeowners Associations (HOAs) might have rules that impact your future renovations or rental plans. Are there plans for new development in the area? Are you in a growing area that’s seeing a lot of rehab, or are you in an area that’s seen a recent influx of newly listed rental properties? What do future insurance trends look like? How do these factors work to your advantage or disadvantage? If you take a step back, really THINK, and consider all of these factors, I guarantee that they will impact your decision one way or another. Making sure you understand your goals and long-term plans is one of the most important parts of buying a home at the beach!

 

Location, Location, Location

The location of your property within Ocean City is a critical factor. Ocean City is divided into North, Midtown, and Downtown areas, each with its own unique vibe and attractions. Each of those areas is then divided into Oceanfront, Oceanblock, Bayside & Bayside Waterfront. This gives us 12 unique sections of Ocean City, MD. The location of your beach home can have a tremendous impact on how you use it, and ultimately, how much you like it! Do you love the boardwalk, the hustle-and-bustle, the activity and the old-school Ocean City vibe? Then downtown OCMD might be right for you. Are you looking for something slower, quieter, and more spread-out? I’d recommend looking at condos in North Ocean City. These are some simple answers to a bigger question. Diving deeper into the location consideration, we’ll be focusing on high-impact items. Maybe you’re considering a condo in the ‘perfect’ OC location, but have you considered the next level factors? Does your condo back up to a busy parking lot, or a bus terminal? Are you near a restaurant (imagine a restaurant dumpster in the 90-degree summer heat!)? How easy is it to access the things you like to do? What’s parking like?   Is the property you’re considering in the right building, but immediately beside the common-area stairwell, or trash-chute? When you’re purchasing real estate in Ocean City, MD or the surrounding areas, THESE THINGS MATTER! Make sure you have a great Realtor that asks you these questions BEFORE you go out and start viewing properties that are for sale!

 

Nearby Amenities and Attractions

Knowing what’s nearby can greatly enhance your experience. Make a list of amenities and attractions that are important to you. Then, step back, and consider what type of property fits those needs. Do you love to fish, and find yourself with rod-and-reel in hand 4 days a week? How about golfing? Check out this area that’s great for golfers! Maybe you’re a tried-and-true beachgoer who has to have their toes in the sand each and every day you’re here. Do you love a certain restaurant, or bar, or attraction? This plays into the “location” consideration above, while making you consciously think about what it is you’re looking for. In its simplest form, condos are nothing more than an “800-2000 sq foot box”.   You can paint them and decorate them however you want.   But that’s not why you’re buying in Ocean City! So why are you buying here? What attractions are you drawn to, and where do you spend your time? Make sure your Realtor knows this information!

 

Family-Friendly Facilities

If you have children (or grandchildren), being close to parks, playgrounds, and family-friendly attractions can be a significant advantage, and make your time spent at the beach much more enjoyable. Let’s take the above exercise and expand on it. We all know they’re going to love the beach no matter where the condo is. But for your sake, to keep life simple, easy and convenient... what would work best for you? For example, Northside Park in North Ocean City offers playgrounds, sports fields, and summer camps, making it an ideal spot for families. You can visit the Northside Park website here! Jolly Rogers is downtown on 28th street and offers one of Ocean City’s best amusement parks (and water parks). Ocean City has mini-golf (putt-putt courses) on what feels like almost every street corner. So, what’s important for your family to have nearby? Do you need big local attractions like these? Or would a condo near 120th street with a close proximity to the grocery store, Starbucks, Wawa, Ice-cream shops, restaurants and so much more all within walking distance be perfect? Are pools important, or not important? Think about your family, what they’d use, and what’s most important to have.  

*To the other extreme, for those that don’t have families or young kids to consider.   Think about this – What do you and your friends want nearby?  What do you want to use and to have easily accessible at your fingertips?   

 

Size and Layout

How big of a condo do you really need?   When we meet most people, they think they have this all figured out. After talking things through, understanding how frequently they’ll be using their OCMD beach home, condo, or townhome, and ‘how’ they’ll be using it when they’re here… many of our clients end up reconsidering what they need. This is a beach home. Kids can share bedrooms! Friends and family can share a bathroom! It’s about being at the beach with your loved ones. You may not need to have the same exact set up you have at home! Now guess what happens when you suddenly shift your home-search from 3-bedrooms to 2-bedrooms? Either your price-point drops considerably, or you can start looking at properties in a more desirable area… maybe even that oceanfront condo you’ve always dreamed of! How many bedrooms and bathrooms do you NEED? Do you prefer an open floor plan or more segmented spaces?

 

*If you do find yourself in a situation where your budget allows for a great oceanfront condo, watch this YouTube Video on some of my favorite Oceanfront Condominiums in Ocean City, MD, or view oceanfront condos for sale here!

 

Price

What price point are you aiming to be within? Let’s start with our biggest piece of advice for beach-home buyers… BUY BELOW YOUR BUDGET! Why? Because buying a beach-home is supposed to be a relaxing, stress-free experience. One that removes anxiety from your life…. Not one that gives you anxiety. Stretching your budget, pushing it to the max, or even buying more than you “NEED” can cause a lot of stress in the long run. Remember this – You’re at the beach!!! You’re not supposed to be inside the condo. You’re supposed to be outside exploring all the amazing things that Ocean City has to offer. So, before you start looking for your next beach home make sure you put a lot of thought into what you really want your budget to be. 

 

Market Trends

Stay informed about market trends in Ocean City. Work with a local real estate expert who understands the market dynamics and can provide VALUABLE insights necessary to have before you buy.  

 

Conclusion

Buying a beach home, condo, or townhome in Ocean City, MD, is a significant investment. By understanding your goals, thoroughly researching the location, considering nearby amenities, and being aware of property management and HOA rules, you can make a well-informed decision. Remember, working with a knowledgeable local Realtor can provide invaluable insights and help you navigate the process smoothly. If you’re ready to find your dream beach property in Ocean City, MD, or the surrounding areas, feel free to reach out. I’m here to help you make your beach real estate dreams a reality.

 

Grant Fritschle

Email: grant@grantf.com

Cell: (410) 430-5880

Office: (410) 524-6400

Jon Barker

Email: jon@markf.com

Cell: (410) 935-3810

Office: (410) 524-6400