Living by the sea 'has its own problems'
Recent research showing that Brits are willing to pay thousands of pounds more for a home with a sea view has caused the Little House Company to speak out about coastal properties.
The Post Office Mortgage Homebuyers Report revealed that people are often willing to pay up to £20,448 extra for a property by the beach than they would for one inland.
Despite this, Little House Company director Nick Marr pointed out that there are downsides to owning such an abode.
He noted that some owners of waterside houses may find that their buildings are undervalued by lenders.
"Some mortgage companies, for example, look at the postcode and Land Registry data to help value a property in that area," Mr Marr said.
"The desirability of [a] location can sometimes be missed, leaving the vendor with an undervaluation."
While water views have always increased the desirability of a property, they can also lead to a hike in insurance premiums, the expert added.
Buyers who opt for an inland property could reinvest the extra cash they might have spent on a seaside property in home improvements such as a bespoke conservatory.
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