Scenic views, quiet neighborhoods, and serene surroundings are some ways to describe waterfront living. Buying a waterfront home signals the ability to enjoy a lifestyle surrounded by magnificent natural landscapes, pristine waters, and calming elements.
Waterfront properties are among the most desirable in real estate, and choosing the right property for you involves planning and selecting a real estate professional with knowledge and experience in waterfront living. As you decide to purchase the waterfront home of your dreams, here are some helpful tips to consider.
Understand rules and land regulations
It’s essential to verify what constraints apply to the purchase of your waterfront property. Knowing the rules and regulations that control what is permissible on land is an important consideration when making an informed decision.
Consider whether the land is buildable and what to anticipate in terms of zoning requirements from local, state, or federal agencies. There are waterfront properties with strict regulations, which may impact the structures you want to build on the land or what activities can be done in the water. Key questions to ask before purchasing your property include:
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Will I have access to the water?
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What restrictions exist for boats regarding speed or height?
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Will I be able to build out, including onto the water?
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Are permits required for fishing on the water or recreational use?
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What insurance requirements will I need to know?
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Are recreational water vehicles allowed?
It’s also important to inquire about responsibility for maintaining the bulkhead. In some instances, the property owners will be responsible for maintaining the bulkhead or the wall that separates a property from the water. If the property owner is expected to provide maintenance, inspecting the bulkhead to gauge its condition is crucial.
Consider the benefits
Waterfront properties are a sound investment, as they provide a myriad of benefits to prospective owners. When choosing a waterfront home, homebuyers are elect to improve their quality of life due to the endless opportunities to enjoy fun and relaxation when living on the water.
Study after study finds that those close to “blue spaces” experience a consistent heightened sense of wellbeing and happiness compared to urban environments. The same studies illustrate that increased levels of vitamin D, improved social interactions, and mindfulness are linked to waterfront locations.
Buyers should also consider the financial benefits of owning waterfront property. The appreciation of waterfront homes tends to be more steady over time, meaning waterfront property values grow and are less prone to the same market downturns of landlocked equivalents. Overall, experts consider waterfront properties a safe investment.
The long-term benefits of owning property on the water involve the endless views surrounding you. Zoning ordinances and land developments change and evolve in traditional real estate, with no guarantee natural views will remain. Properties situated on the water, including their coveted views, guarantee for those looking to purchase a home with spectacular sights.
Another long-term benefit of owning waterfront property involves security for homeowners intent on providing a legacy property for their loved ones. A home passed along to future generations signals a permanent place for family and friends to gather for holidays or vacations; providing something tangible for heirs offers peace of mind.
Ask the right questions
Purchasing a home is a significant investment. Buying your waterfront home is no exception, and like any significant transaction, it’s essential to know what questions to ask to avoid risks and potential issues in the future. Some important questions include:
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Will you be happy with the home and the land you purchased? A waterfront home purchase consists of buying the structure and the land, and these should be evaluated individually. Assess the integrity of both to gauge whether the investment makes the most sense in the long term. Also, learn as much about the neighborhood to ensure it meets your lifestyle standards.
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What is included in the prospective purchase of your waterfront home? It’s important to understand what “waterfront” means and ensure that the property extends to the water. View a survey of the land to see what’s included in the purchase of your waterfront home.
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Was the home designed with the environment in mind? As with any structure, knowing its integrity is essential. Learn about the home’s builders and whether they followed modern building codes to withstand the effects of the environment. Hire a home inspector to determine whether saltwater can degrade the materials used in the home, for example, which you might need to know about to gauge future expenses.
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What about insurance on your waterfront property? Before your purchase, ask whether there are any unusual insurance expenses you may not have previously been aware of. The cost to insure a waterfront property is higher than landlocked homes, and calculating these costs into your ownership plan is helpful to avoid surprise expenses.
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Does the waterfront property fulfill your lifestyle expectations? Owning a waterfront property indicates that a buyer has worked hard to achieve a particular lifestyle standard and expected certain conveniences. For example, beachfront homes may not be situated near docks, and boat storage may require you to evaluate if that particular home is the best choice for you.
Who can help you make a well-informed decision about purchasing a waterfront home? Conduct research to start your home search journey. Explore desirable neighborhoods through internet searches and visit areas where you envision yourself living. Learn about nearby amenities and the communities where waterfront properties are located.
Of course, the most crucial step to take when evaluating your options is to speak with a realtor who knows about waterfront homes. A real estate professional with knowledge and experience in these properties is a valuable resource to make the best decision. An experienced waterfront realtor has a broad understanding of the lifestyle out on the water.
Are you looking to purchase the waterfront property of your dreams? Contact Melissa Clements to find your next dream home on the Emerald Coast. Melissa has over 20 years of experience selling luxury homes in Alys Beach and Watersound Beach — contact her today to find your next waterfront home!