Yes indeed, Austin is a young, hip, and fun town full of excitement and never
lacking something to do. But, Austin does lack something, a beach. Not just any
beach but one that looks like it was plucked from the Caribbean and located just
close enough that you could get there easily in a days drive. Has anyone figured
it out yet? This place does exist and many of you have either been there or have
heard of it. This mysterious place I am referring to is the panhandle of Florida
and more specifically South Walton Beach and the famous 30a communities.
Next, tell me what’s better than just visiting a gorgeous beach town? How about
the opportunity of owning a beach house or condo along 30a. In this blog post
I’m going to go over with you how you could potentially purchase an investment
property in one of the coastal towns of 30a and have it pay for most of your
mortgage and bills or even start making money right away.
For those of you that have visited towns like Rosemary Beach, Seaside, and
Grayton Beach you have probably noticed that it is necessary to make
reservations well in advance. The reason for this is not only because of its
immense beauty and lore but also because it attracts people from over a dozen
large US cities that can all drive there in less than 10 hours. As many have called
it before, The Redneck Riviera is mainly owned by absentee owners. This means
that most of the people that own condo units and houses that you may have even
stayed in are owned by people that don’t actually live there. There’s even a good
chance that a place you have stayed at may be owned by someone that lives
right in Austin. But my question to you is, why pay to visit 30a when you can have
other people pay you to visit there? Hopefully, this has you thinking so keep
reading because the juicy details are getting ready to be let out.
The first thing that you need to figure out is what are your goals. Are you
expecting a 10% return on investment per year, 5%, 2%, break even, or you
don’t mind putting some money back in each year. Next, you need to think about
how much money you would like to invest. Prices vary quite a bit on 30a
depending on how close to the beach, how large it is, if it’s a house, or if it’s a
condo. Finally, you need to decide how much you and your family actually intend
on using it. This is sometimes the hardest question for many people to answer.
But, if you plan on using it three weeks each summer, That is going to take a bite
out of your gross rental income and bottom line.
The real estate and rental market in the towns of Seaside, Watercolor, Rosemary
Beach, Seagrove Beach and so on are much different than Panama City Beach
which is to the east and Destin which is to the west. Both Destin and Panama
City Beach both have lower prices on their real estate with sometimes higher
gross rental income compared to the price. But appreciate less than all of the
towns along 30A. The reason for this is because Panama City Beach and Destin
are more “turn and burn“ type of rental vacation resort areas. Whereas, 30A is
set at a different pace. It doesn’t attract the party crowd as much, it is not as high
density, it does not allow high-rise condominiums or buildings (the height limit is
50 feet of any structure). 30A along with that’s well-known beach communities
are more exclusive and high end.
Hopefully, you now know a lot more about the 30A area AKA “The Redneck
Riviera“ then you did before you started reading. Maybe, you are even now
thinking about looking into a vacation rental/investment property of your own.
Some of the key points to remember is depending on the city/community you
purchase in (30A or Panama City Beach/Destin) Will affect what your purchase
price, Immediate return on investment, and long-term appreciation. Your property
at Rosemary Beach, Seacrest, Blue Mountain Beach and other 30a community
will appreciate the fastest, rent for higher per week but fewer weeks per year, and
be more sought after when the time comes to resell.
For more information about investing in South Walton Beach, Destin or Panama
City Beach contact 30a Local Properties real estate agent Danny Magagliano
Danny Margagliano is a guest blogger and real estate expert for the Destin,
Florida area commonly referred to as 30A. If you are in the market for your first
home, a vacation home or retirement home in the Destin area, you can reach
Danny at 850-830- 4747.