The appeal of owning waterfront property is obvious. But in their enthusiasm to live next to the water, many people overlook the issues that make buying and living in waterfront property more complicated and difficult. Learn about the important and unexpected things you need to know about waterfront property before you agree to any purchase:
- Work with the Right Realtor – You will only want to work with a Realtor who specializes in waterfront property or has a lot of relevant experience.
- Focus on the Property – Remember that with waterfront property, it is the piece of land rather than the home itself that you are investing in. Don’t settle for a nice house on an ugly or inconvenient piece of land.
- Think about Your Hobbies – Your priority may be on fishing, swimming, boating, or beach life. Find a piece of waterfront property that accommodates your specific interests.
- Investigate Financing Early – Since waterfront property tends to be more expensive, the mortgage process can be more complicated. Get it started early so that setbacks and hurdles don’t sink your deal.
- Consider the Weather – Waterfront property gets the worst of the weather. Make sure it can stand up to years of abuse without costing you a lot of money in repairs and renovations.
- Learn about Insurance – The insurance demands of waterfront property are a lot more complicated. Start figuring out what kind of coverage you will need early on in the process.
- Ask the Neighbors – You can learn a lot about a specific piece of waterfront property and what life in the neighborhood is like by speaking to people who already live there.
- Explore Available Utilities – If your waterfront property is located in a rural or remote area, it may limit or complicate your access to utilities.
- Know Your Responsibilities – As the owner of waterfront property, you may have extra responsibilities or regulations placed on what you can and cannot do.
If your dream is to live on waterfront property, do not let this list discourage you. As long as you are informed, you can find a home that delights and excites. Improve your search from beginning to end by contacting The Agency Luxe at (561) 923-9696.