Investor Focus: Coastal Property

Seaside property forms part of a diverse rental market for Landlords, as residential properties can be rented to long-term tenants and holidaymakers.

Property owners also have the luxury of having their own private getaways throughout the year.

Since the pandemic, there has been a notable shift in the popularity of holidaying in the UK rather than abroad.

The cost of living crisis may also see consumers look for a break closer to home to avoid incurring the extra costs associated with a holiday abroad- such as expensive flights and pricey hotels.

As a result, the UK's rental market in seaside towns is thriving, which sees investing in coastal property as an attractive option to many investors.

In coastal University towns such as Brighton, the rental arena also extends to student lets, offering even more choices of tenants to landlords.

If you are considering investing in a property by the sea, consider that the upkeep may be higher, and property maintenance may be more time-consuming.

Salty sea air causes erosion, and if the property is exposed, the paintwork and render could need extra upkeep. Your surveyor will be able to advise you on how likely these issues might be.

Your solicitor will be able to conduct specific property searches to reveal any potential risks of flooding or location-specific issues, such as coastal erosion, so you can make an informed and rational decision when purchasing.

You may need to conduct bespoke searches concerning the property's locality, including any environmental considerations.

Some searches now even report on climate change impact, which may be more important depending on the property's location in relation to the coast.

Your solicitor should report to you on the results of the searches and let you know if any other searches may be of use for the particular property you are buying.