Abstract
Coastal location is both an amenity adding to the value of a property, and at the same time a hazard detracting from its value. Several recent studies of house price trends in flood-prone coastal portions of the United States in general, or Florida specifically, have yielded different conclusions: some have identified a price discount for coastal property that is attributed to the vulnerability to sea-level rise while others have found no such effect. Flood insurance, which has become increasingly costly in the last decade, is mandatory for homebuyers seeking mortgage financing for properties in the areas designated by FEMA of having at least a 1% annual chance of flooding. This addition to the cost of homeownership could increase prices and reduce demand for properties in these locations.
Living on the Gulf Coast of Florida is like living in a dream. Beautiful beaches, blue skies, and a thriving community are all aspects of life that you want to embrace.
Lend Smart Mortgage (2021) 4 key factors to consider when buying a house on the Florida gulf coast. Available at: https://www.golendsmart.com/blog/4-key-factors-to-consider-when-buying-a-house-on-the-florida-gulf-coast
It’s everyone’s dream… to have a house on the beach… to wake up to the sounds of the waves lapping against the shore… to see the ocean as she changes hues throughout the day, throughout the seasons, throughout the year. It’s everyone’s dream to have a place to go as an escape from the mad and busy world we live in… to have a special place where our children can create the most magnificent memories…
Mymove (2020) What you need to know before buying a beach house. Available at: https://www.mymove.com/home-inspiration/decoration-design-ideas/what-you-need-to-know-before-buying-a-beach-house/
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Palm, R., Bolsen, T. (2022). House Price Trends in Coastal US Cities. In: Housing Market Response to Sea-Level Rise in Florida. Coastal Research Library, vol 37. Springer, Cham. https://doi.org/10.1007/978-3-030-88435-2_3
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