Important Considerations


Important Considerations
First Things First: Before you find that perfect property of your long envisioned dreams ... have you discussed your intentions with your CPA / tax advisor, your attorney, and your financial or investment counselor? The expertise offered by these professionals is fundamental to the process of identifying your goals, establishing the necessary parameters, and developing a strategy for action. Objective: Why do you wish to purchase coastal property? What goal do you hope to achieve? What is your vision? A recreation of joyous childhood memories ... summers on the river by the sea? Your very own compound shared with far-flung family and friends, a legacy for generations to come? Do you want to establish a sanctuary from life's pressures and daily distractions... a retreat for rejuvenation, a romantic getaway? Are you looking for investment diversification ... one that can satisfy your soul as well as your CPA? Do you long for a piece of the ecological pie, to have, to hold and protect? Do you imagine recreational acreage for camping, hunting, fishing? Do you want to recreate an integrated and organic lifestyle characterized by a pioneer homestead? Perhaps it is the promise of a sustainable base-camp appropriate to a 21st Century global citizen that fires your imagination? "Know Thyself" and you will discover your ideal property more easily. Location: "Location, location, location"... three of the most important considerations in the purchase of any property. It is with good reason we have all heard some version of this advise. Everything is affected by this one immutable feature: availability; accessibility; initial cost; resale value; financing; use; development potential and cost; governance; maintenance; and ultimately, one's "quiet enjoyment". How far are you willing to travel to enjoy your coastal property? As you consider this question, *do not* imagine yourself (as depicted by the many automobile commercials filmed here) snaking along the coast highway with carefree abandon behind the wheel of your luxury-sport vehicle of choice, top down, wind in your face, savoring your well deserved solitary place in the sun. Instead, envision driving on a dark, foggy Friday night, after a grueling work week, when an additional 30 minute drive up the coast, dodging darting deer, just might be too far. How flexible and adaptive do you consider yourself to be? How much are you willing to compromise in daily convenience for the sake of living your dream? Seldom does the reality of our dream approximate that which we anticipate. Often a period of "adjustment/reconciliation" will be required. This can be a good thing! What are your essential requirements? Do you need to bask in the sun, or do you seek your serenity alongside a creek amid the towering redwoods? Do you prefer a sheltered setting or are you drawn to the rugged wind swept ocean bluffs. Do you garden? Do you prefer a laissez faire relationship to the local flora and fauna? Do you enjoy an early morning jog across a meadow to greet the rising sun glistening on breaking waves? Do you begin your day as hunters/gathers of old, fishing rivers and streams, diving for abalone? Are you to be found teeing off at daybreak? Does your daily routine begin with swimming laps? Do you long to pursue your creative talents, inspired by nature's wonders, free from constant reminders of mankind's dominance upon this planet? Does your professional life require your availability to colleagues 24/7, even while on sabbatical? Are you beginning your second career? Pursuing a beloved avocation? Do you anticipate finally enjoying the luxury of sharing your skills and talents, cultivated over a lifetime, for the benefit of others in this, your new home? An active social and community life is best not undertaken while residing at the end of a three mile long dirt road! Financing: What resources do you have available for your initial capital investment? How much discretionary spending are you able to comfortably budget for debt service, insurance, taxes, homeowner association dues, repairs, maintenance? Do you intend to purchase your property outright? Do you need help with financing your purchase? Financing terms vary considerably depending on type of property and its intended use... fortunately, these days lenders offer programs tailored to nearly every circumstance. Occasionally, private or owner financing is available. How is your credit? Now is the time to check and resolve any unpleasant surprises which may impede the successful completion of your transaction. Type: Rural acreage to enjoy, for now, au natural? A fixer-upper ready for transformation by your imagination and talent? A modest and easily maintained home for retirement? A building lot on which to create an architectural statement? Perhaps a commercial property/business opportunity through which to explore the *other* American Dream. Features: Privacy? Seclusion? Accessibility? Wooded? A hilltop, above the fog? Creekside? What type of view do you desire? What is your tolerance level for neighbors and their activities? Do you regard planned unit developments with their covenants, conditions & restrictions, homeowner associations and architectural design committees a welcomed safeguard of shared values or an unnecessary infringement on personal liberty? Even property owners of sizable rural acreage who are most able to "do their own thing" may establish road maintenance associations, mutual water systems, or volunteer fire fighting districts. Each of these considerations influence which properties you will find suitable. Potential: Do your homework. Determine that your dream is feasible. Know the price tag. Establish the terms under which you are both willing and able to pay. That magnificent, secluded acreage "with potential" remains so without the multiple attributes of access, sufficient potable water, the capacity to process sewage, available utilities, and regulatory compliance. The stunning parcel with breathtaking views which seems so "affordable" becomes less so with each successive dry well drilled, and unsatisfactory perc test. Are utilities available to the property at a reasonable cost or are easements yet to be obtained, trenches yet to be dug, and cable yet to be laid? Extraordinary measures for site work necessitate professional expertise and costly equipment. Engineers, architects, and contractors perform valuable services ... their expertise and experience often make the difference between The Dream-Fulfilled, and The Nightmare! Before undertaking the role of "owner/builder" talk to others who have traveled that winding path before you! Also, to be considered: "Time is Money". Can you still afford your dream when, not if, delays are encountered? Community: One may choose as much privacy or community involvement as one desires. Often the choice is a delicate and dynamic balance. Coastal residents are rarely neutral about issues affecting their community's quality of life and usually recognize that their own contribution of ideas and energy make a lasting difference. Life along the rugged Sonoma-Mendocino coast is no longer fraught with isolation and hardship as it once was. Lifestyles are no longer either/or choices as before. Diversity coexists with small town relevance. Choices abound. It is possible to have your morning cappuccino/croissant and Wall Street Journal along with your five acres and independence. Your coastal dream ... your personal vision is attainable! Do not undertake this project lightly, impulsively, or without preparation. Do find enjoyment in the process. Like the winding roads home to our own version of Paradise, the journey is to be valued as much as the destination!

return to top