When people say that water view real estate is different than other types of property, they’re definitely not wrong. If you ever buy a piece of waterfront property, you’ll quickly realize what they’re talking about. Namely, there’s really nothing like the unique feeling of having a body of water within view and reach – all on your own piece of land! However, compared to land-locked properties, this kind of real estate will likely turn out to be more complicated to inspect, purchase, and maintain. There are some factors that you need to take into consideration with this type of real estate, that you possibly haven’t thought about before. Luckily, we’re here to give you a quick rundown!
Careful Inspection
As you’ll soon see for yourself, waterfront homes require careful and thorough inspection before you decide to invest in one. Water can be pretty hard on buildings. A waterfront home may have structural issues or even water leaks in the basement. There could be corrosion on the outside of your home due to salt air if you’re near an ocean shore. On the other hand, a lakehouse might suffer from mold or mildew problems due to rising moisture. Naturally, all of these things can be avoided if you buy the right home; but you want to get an expert to inspect the premises first. You want to do tests on the nearby water quality, get some elevation certificates, as well as other surveys and inspections. With a waterfront property, all of this is incredibly important.
What Kind Of Water Would You Want?
It’s a pretty simple question when posed like this – but indeed, it is a key question: what kind of water do you want near your water view real estate? Trust us, waterfront home locations are an incredibly important factor when you’re choosing where you’ll move. After all, not all bodies of water are the same. If you’re someone who’s yearning for the smell of salt in their nostrils, you’ll obviously want to opt for a beach home. On the other hand, you may be a freshwater fisherman, looking to have some quiet time in a boat on a nearby lake. If that’s the case, you should look for a lakehouse.
Take A Walk Around
If you’ve decided to buy a specific piece of water view real estate, there’s something you’ll need to do first – take a long walk. And no, we don’t just mean it to clear your head. You need to have a walk around the property itself and see if the water and the adjacent property are really as good as you’ve been led to believe.
There could be all kinds of hidden issues with waterfront real estate; for example, the house might require repairs due to leakage. Or you could be faced with a beautiful view, but not accompanied with proper access to the lake. Plus, the lake itself may seem gorgeous from afar, but could actually be choking in debris and weeds when you get up close. All of this could be a deal-breaker if you’re buying a water view home. After all, if you don’t like the backyard of a land-locked house you’ve bought – you just do some landscaping and change it. But if you’re buying a waterfront home, you’ll be hard-pressed to change the lake itself.
Watch Out For Hidden Expenses
When it comes to water view real estate, you could be looking at some hidden expenses that you, as a buyer, might not be aware of right from the get-go. For example, sewer and water utility expenses will probably be higher than with an inland home; that’s something to take into account over the long term. Plus, if you’ve got a boat, think about the lift and dock fees. And depending on the infrastructure, the upkeep for your well and septic tank if you’re thinking of buying in a more remote locale.
Find A Deal
Naturally, buying your very own waterfront property can really be a dream come true. But there are many people who grow disillusioned with owning water view real estate or have debts that they need to resolve. The point here is, even with lucrative waterfront spots, you may be able to find a good deal. So shop around once you choose your area and don’t settle for the first thing you see. And don’t worry about home amenities too much, if you find a spacious home. Stuff like your home library, entertainment setup, or your home gym can be easily relocated.
Devise A Strategy
You need to ask yourself if you’re going to live on this water view real estate full-time. This will largely determine your financial strategy for the purchase, going forward. For example, if you want to live there all the time, you’ll have to bear the brunt of the expenses for buying the house. But, if you only intend to use it as a vacation home, more opportunities arise. You can rent the house out while you’re not staying there and put a significant dent in the mortgage payments. Think Airbnb.
Find An Expert Agent
As you might have gathered – buying and owning water view real estate isn’t simple. From headaches like structural issues, sale complications, and potential title issues, the handling of such a property in a transaction requires close supervision by an expert real estate agent. Don’t even consider going into such a purchase without a specialized waterfront realtor by your side. USAWaterviews.com has many qualified water view experts on the Agents page.
So, if you want to buy a piece of water view real estate, find a good moving company through a place like Master Moving Guide – and start your shore life anew!