Coastal living is a dream for many, offering scenic views, the soothing sea breeze, and opportunities for swimming and other outdoor activities, making it an attractive option for relocation.
Since the Covid-19 outbreak, there's been an increased desire to move to coastal areas instead of staying inland. However, before making the switch, potential buyers should be aware of several important factors and distinctions that may affect their decision.
This is according to to Adrian Goslett, the regional director and chief executive of RE/MAX of Southern Africa.
According to Goslett, coastal towns have become significantly more popular than inland locations, especially since remote working has become more common. Additionally, the decline in service delivery in many inland communities has further driven this trend.
Goslett highlighted the current Lightstone Residential Property Indices Report, which indicates that as of the end of June 2024, yearly property inflation is 7% in coastal areas and only 1% in non-coastal areas. In contrast, Gauteng's property inflation figures are currently at 0.31%, while the Western Cape is experiencing a 4.63% rise.
“This is one of the biggest challenges for those who are moving from inland areas to coastal suburbs. Owing to their popularity, property prices in coastal areas are far more expensive,” he said.
He urged inland sellers not to overprice their homes to afford relocation to coastal areas, as this could prolong the sale process and likely result in a significantly lower final sales price.
The disparity in lifestyle expenses is another something to consider when budgeting.
Goslett emphasises that the more popular the area, the more expensive the nearby goods and services are likely to be. Restaurants, grocery stores, and hairdressers may all be more expensive, so it is advised to do research before moving to a new location.
Maintenance on a coastal home is likely to differ from that of an inland property, particularly for people who live close to the shore.
“Coastal homes are exposed to salt air, which can accelerate the corrosion of metal fixtures,” Goslett said.
“Sand and strong winds can also cause abrasion and damage to surfaces, particularly those that are painted or finished. Regular maintenance and proactive measures are essential to preserving the homes condition and value.”
IOL