The dream of owning an Oceanfront condo in Ocean City, MD is on the bucket list for many families. It’s not as far out of reach as you may think. With a wide selection of Oceanfront condos for sale in Ocean City, MD, there are plenty of opportunities.

As you're searching for a home for sale online, reviewing the photos, the view, listing details and price, the home may be attractive enough for you to want to contact a real estate agent.

When you arrive, TAKE NOTES and consider these 5 key factors before you face hard lessons learned.

5 Key Factors: Buying Oceanfront Condos for Sale in Ocean City, MD

In this article, I’m focusing on condos for sale in Oceanfront buildings. It’s important to consider these factors when buying all Ocean City, MD real estate.

#1 Weather impact on north facing units and saltwater corrosion

Many agents use keywords in their listing description to describe the sun exposure or location of a condo for sale. For example, this unit has southern exposure, or this is a north facing condo unit. Not all listing descriptions state the exposure or location of the unit, but take note if it does to better prepare yourself for a showing.

North facing units receive a greater, direct impact from Nor’easters in Ocean City. Nor’easters can occur anytime throughout the year, but typically occur between September and April. The National Weather Service says, "They nearly always bring precipitation in the form of heavy rain or snow, as well as winds of gale force, rough seas, and, occasionally, coastal flooding". One of the most important areas to focus on is condition of windows and sliders that face towards the north.

Overall, saltwater corrosion is more damaging than just rust, and every building or unit will be affected by saltwater corrosion, not just north facing units. Real estate in Ocean City, MD is more exposed to salt from the Ocean. Saltwater corrosion is caused by a combination of moisture, oxygen and salt, says Sciencing.com.

#2 Examine the exterior & interior condition of oceanfront buildings

It’s important to not only focus on the condition of just the condo unit you want to buy, but to also focus on the condition of the building. Home or condo inspections are an important tool for evaluating the physical condition of your real estate investment.

Older buildings, or buildings not well maintained, may need future repairs, which could affect all of the owners in a building if the condo association plans to impose a future special assessment.

The north facing side of a building may require more maintenance from nor’easters and other storms. When touring properties, walk around the building and take notes of the exterior and interior. As a condo owner, you have a share of all the common elements of the building, and will be responsible for your share if the building needs repaired.

Helpful blog article: Why I Love Home Inspections (and You Should Too!)

#3 Exterior HVAC units may have a shorter life span

Most condo buildings in Ocean City have exterior HVAC units on the roof, which is a perfect place for exposure to moisture, oxygen and salt. The United States Department of Energy says, “Most central air conditioning units last about 20 years. At 12 years old, your air conditioning unit is passing its mid-life point”. However, the effects of saltwater corrosion could reduce the life of your HVAC unit, since the system is primarily made of metals.

#4 Choosing condo unit location for Vacation Rental Income

Sometimes, the location of a unit is a deciding factor for a family considering Ocean City Vacation Rentals. If you want to get the most out of your vacation rental property, you’ll want to buy in a prime location. The location of the building is not the only factor to consider.

Location of the unit in the building

If you’re considering buying a condo for sale in the Golden Sands, Fountainhead Towers, or the Pyramid, just to name a few, you may want to consider some vacationers don’t like heights and may avoid renting on one of the top floors.

Lower floors may also have its disadvantages. They can be convenient for easy access, but If it's close to the pool or parking lot, they may have more noise than a renter may be interested in.

#5 Amenities can help with vacation rental income

A lot of buildings have amenities. A pool is helpful to your rental income, but it's not always a deciding factor for a renter. Sometimes, renters have an interest or a history with a particular area, so the location of a building may offset a building lacking amenities.

If a condo has vacation rental history, you could get an idea of your estimated earnings. Also, working with a real estate agent that can help you get estimates from a local rental company is helpful for creating a plan to buy.

Many vacationers want to rent on or near the beach, and amenities can attract to family members not interested in swimming in the ocean or laying on the beach.

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References:

• National Weather Service - What is a Nor'Easter?, http://www.nws.noaa.gov/om/winter/noreaster.shtml
• Sciencing.com - The Effects of Saltwater on Metal, Bailey Rodriguez; Updated April 24, 2017, http://sciencing.com/effects-saltwater-metals-8632636.html
• U.S. Department of Energy - You Asked, We Are Answering: Your Home Efficiency Questions, Sept. 24, 2012, https://energy.gov/articles/you-asked-we-are-answering-your-home-efficiency-questions