Tips For Buying Waterfront Property

Some Helpful Information Before You Buy

Many people dream of buying waterfront property. Options are becoming more abundant in waterfront property and first-time waterfront buyers have many more factors to consider versus a traditional home. This brief guide is intended to help answer some of the questions you may have before your purchase.

In addition to the traditional first-time buyer knowledge necessary, waterfront property is more than just choosing the right home. Its about the total package of home, land, and water. By this we mean the amount of water frontage, options for docks or boathouses, boat slips, type of soil, changes in water levels, wildlife, etc.

Docks, Boathouses, and Boat Slips:

If the waterfront property you are looking at does not currently have a dock or boathouse and if this is something you may want to install, be sure to check with county offices that govern the river, or channel, to determine if a permit has been applied for allowing you to build a dock or boathouse. Some lakes and municipalities do not allow but a certain number of docks and boathouses to preserve the integrity of the water. Many properties that are in waterfront communities that are not on the water have deeded boat slips.

Water Frontage:

Water frontage is how many sides of the property are fronted by water. The more water frontage, the more you can expect to pay based on land value.

Find a real estate agent who is a true waterfront specialist:

The average agent will not have detailed knowledge of waterfront properties in your area to help you find the best deal on a property that is right for you. You may think you have found a great deal, but the reason it is a great deal is because there are oyster beds and people can not get their boats in and out.

Consider the property more than the structure:

Oftentimes, people fall in love with a house, but after they buy it, they realize the swimming is mucky, the views not very good, it’s difficult to get down to the water, or the place is not very private. You can change the house, but you can’t change the location, so buy a property that you really love.

Choose a property that truly fits your lifestyle:

You may find a beautiful property for sale, but it’s half an hour away from getting out to the larger bodies of water. If you love to go out deep-sea fishing, that’s going to make a difference in how often you actually do it. Focus on the activities you’re passionate about and choose a property accordingly.

Make sure the structure can withstand the weather:

Waterfront homes receive more abuse from the elements than the average home, so extra measures should be taken to protect them. For instance, storm shutters and stainless-steel locks are a good idea to avoid corrosion from salt air.

Insurance can be costly and complicated:

Look into this early to make sure you know what you are getting into. For instance, waterfront homeowners in Florida have to buy three policies: a wind policy, a flood policy and a general hazard policy.

Order a survey and elevation certificate immediately:

You need an elevation certificate before getting a quote on homeowners and flood insurance. Get a seawall inspection as part of your home inspection and get an appraiser who specializes in waterfront property. Ask your realtor about non-conforming space.