Buying a condo on the beach sounds like an extravagant dream to most Americans, but it doesn't have to be. Oceanfront properties can offer incredible rewards for those who invest, as long as they look carefully into the purchase beforehand. If you are hoping to purchase such a condo as a dream retirement home, perhaps you could consider purchasing the condo years earlier than you actually retire, and lease it to vacationers to help subsidize your retirement home. While Florida may be the most popular area for oceanfront property, it is by no means the only option. Florida offers the incentive of warm temperatures year-round, and also a lower cost of living than many seaside alternatives. However, both coasts, even on the northern shores, offer rewards unique to the individual area. Before you jump into your investment, browse other areas, and be sure to look into the cost of insurance for the location. Condos on the beach will need insurance that covers both hurricanes and floods. These are some basic guidelines that are important if you're considering buying a condo on the beach:

• Talking to other residents can help you to understand the basics about the condo. For example, how often is maintenance required? Are the walls as thick as you would hope?
• Ask to see the minutes from the last meeting of the Home Owners Association (HOA). Through this you can see the issues that are important to the other residents, and if there are major complaints, you may realize that it is time for you to find another condo.
• Find out how well-stocked the funds are in the HOA's reserve. The reserve funding will cover emergency situations and most maintenance. The larger the reserve, the better chance you have of not being asked to pay for another unexpected expense.
• Buying a condo on the beach can present more legal issues than buying a single-family home, and it is often recommended that you use a lawyer to check over the bylaws with you and see if there has been any past legal action against this association. Some condo bylaws may prohibit renting out the complex, or may prohibit the use of decorations on holidays. Look over them carefully and make sure that you can easily comply.
• If you're hoping to rent out your condo, it's important to see how renter-friendly the complex is. If the renter population is over 10%, then the bylaws should be clearly laid out. Do they find renters for you? Do they have a copy of the rental lease that a lawyer can go over with you?