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Looking for that Rhode Island beach cottage? Some Helpful Tips to Find a Deal

Posted by Jeff Brooks on Monday, August 19th, 2013 at 1:54pm.

Waterfront real estate in Newport County is as good as it gets for summer vacation homes.  For many buyers, however, sticker shock can get in the way.  Don’t lose hope!  Take a step back and consider the advantages of only a water view?  Walking distance to the beach is almost as good, right?  Or maybe you’re just looking for a place to get away.  Here are a few helpful tips to help in your search and get you into a life-enhancing beach home for less!

-Search a bit further from the beaches than you typically would

            Most “beach homes” are on the water or within a ¼ to ½ mile of the beach, but these are in high demand, making them much more expensive.  But if you search just a tad further you can find a much better deal and only have to walk 3-5 minutes more to the beach or just take a bicycle instead.  Here’s an example: 9 Gunning Ct is a mile from the beach, has water views and is in move in condition.  At a list price of $265,000, it’s 30% less than any other listing in the neighborhood and has everything you could ask for!

-Search other communities or areas within reach


            Everyone loves 2nd Beach and Gooseberry Beach.  But how about Sandy Point or Park Beach in Portsmouth?   And if you want to visit the other beaches, all you really need is a beach pass.  For only a $150 a year vs an extra $150,000 purchase price it starts to make a lot more sense to look a bit beyond the typical neighborhoods and towns.  Island Park is an excellent example.  Up in the north end of Portsmouth, it’s right on a beach has restaurants, nightlife and more!  But not many people visit this beach because it’s on the Sakonnet, not the Ocean like beaches in Middletown and Newport. But with a Middletown Beach Pass, you’re only an easy 20 minutes away from ocean beaches. 470 Park Ave is an excellent example of a great opportunity for a vacation home, that’s fantastically refinished, brand new everything, has a fireplace, large yard and updated heating systems.  For only $234,000, it’s an absolute steal!

 


-Homes that don’t have a water view now, but potentially could.

            Easier said than done, yes, I agree.  But if you look around and notice other neighbors are all 2 stories, or they all have roof decks, to argue conformity in your town hall should be easy, and it will improve the value of your home drastically.  Adding a full second floor or raising your house up can be very costly.  But adding a deck is much cheaper, and if you can fit an exterior stairwell within your setbacks it could be even less expensive.  Both 470 Park Ave in Portsmouth and 9 Gunning Ct in Middletown are excellent examples of while you already have a waterview, adding another floor can improve your view drastically.

 

In the end, don’t give up your dreams of having a beach home!  You just need to expand your search, think creatively and open your horizon.  You’ll find a great deal that others might not consider, get you into a home near the beach or a home that’s beautifully finished for pennies on the dollar.  Happy hunting! And if you have any questions or would like to take a look at a few additional home you know who to call!

Jeff Brooks, Realtor, Hogan Associates, 129 Bellevue Ave, Newport, RI  02840 401-484-7368, Jeff Brooks the REALTOR 

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