Choose the right water for you. Choose the right water for you.
Waterfront Property isn’t all the same. If you want the smell of salt air, there’s no substitute for beachfront property, but if you want to hear crashing surf, a property on a bay might not be the right place for you. Property on a large lake gives you the ability to sport about in a powerboat, but if you want peace and quiet, you might be better served by being on a smaller body of water that’s devoid of noisy powerboats and peering eyes. Are you looking for boat docking, boat lifts & fishing? These things to consider.
Look for hidden costs. Those sneaky little thing can hide very well.
Waterfront properties can sometimes carry additional expenses that buyers might not be aware of. For starters, water and sewer rates can be more expensive than inland rates. Boat dock and lift fees,as well as septic tank and well upkeep, are additional potentially hidden expenses to inquire about as well. A lot of the time Condo living can include all these fees in your monthly association dues, something else to consider.
Check insurance requirements. With being on the water make sure you are covered.
Waterfront properties frequently have an increased risk of flood damage and some beachfront homes are also at risk of a hurricane. If insurance is available, it could be cost-prohibitive, so it’s best to know before you sign a contract. Again Some Condo associations may include the flood insurance in there monthly dues.
Research the shoreline’s history (and future). Inspect the property carefully and comprehensively.
Water and dirt mix in interesting ways and, sometimes, the shore moves. If the water level goes up, you could end up losing your property. If the water line moves away, your waterfront home could end up being a quarter-mile walk from any water. Is there a sea wall?
Whether you have corrosion on your exterior because of salt air, or mildew and mold issues from higher moisture levels in the air, an expert inspection can help you understand what you might be up against. Surveys, elevation certificates, water quality tests,sea wall inspections and other land and water-based inspections that you might not have done on a regular house can be very important with waterfront property.
Walk the property carefully.
Spending some time on the water helps you see if the property is as good as you think. For instance, you could have a beautiful view, but not have good access to the water. On the other hand what looks fantastic from the window could actually be choked with weeds and debris. When a house has an unattractive backyard, you can change the landscaping. With a waterfront home, you’re also buying the water, so getting it right is crucial.
Work with an expert agent that specializes in water front property they will know what questions to ask who to involve in the transaction.
Waterfront property isn’t simple. Between the title issues, the structural issues and the unique way that the market looks at the property, many real estate agents can’t effectively help you through the purchasing process. Our expert water front agents at RE/MAX Anchor know how to help you achieve your dreams of home ownership on the water.