Buying a waterfront property is very different from buying a house located on a tree-lined neighborhood street. That’s primarily because finding the right waterfront home is not just about making a long-term investment but also about ensuring it fits your particular lifestyle.
So, if you’re wondering how you can make your waterfront property search easier, we have five tips that can help you achieve success in your pursuit!
1- Know the Rules and Regulations
The first thing you should find out about any waterfront property is its rules and regulations. Here are a few questions to ask before you move on to the next steps:
- Will you have access to the water? (The water regulations are different for each state)
- Can you build out onto the water? (For example, docks)
- Are you allowed to fish on the water or engage in other recreational activities?
- Are you allowed to take personal watercraft out on the water? If so, are there any height or speed restrictions for watercraft?
- What are the property’s insurance requirements?
2- Consider the Flood Risk
Waterfront properties are more likely to be impacted by floods, especially if they’re located in high-flood risk areas. This is why you should always consider the property’s flood risks and plans, as this natural disaster can strike a lot of damage to it in the long run. Moreover, insurance for such waterfront properties can be extremely high, often enough to drive many buyers away.
3- Know the Type of Water
Not all waterfront properties are the same, and choosing the right waterfront is a significant part of the pre-purchasing process. For instance, if you like the smell of salt in the air, there can’t be a substitute for a beachfront property. However, if you like to hear crashing surfs, a lake property will be a much better option to go for. Plus, a lakefront property also gives you a choice to partake in several recreational activities.
On the other hand, if you’re looking for some peace and quiet, we suggest buying a waterfront property on a smaller body of water that’s devoid of all kinds of powerboat noises and peering eyes.
4- Understand the Potential Changes
When a property is located on grounds with rising and falling water levels, it is bound to alter its shape and level. With time, you may encounter changes concerning how much access you have to the grounds.
Identifying areas that qualify for restrictions down the line can give you the advantage to plan ahead of time and layout your land accordingly. Studying the shoreline’s history may also offer you a clue as to what you should expect from the said waterfront property in the future.
5- Inspect for Hidden Costs
The act of buying a waterfront property is not as simple as it seems. It can carry several hidden costs within itself that you might not be aware of yet. For example, water and sewer rates, property upkeep, and boat dock and lift fees are only a few additional expenses you should consider when purchasing such a property.
If you have found the perfect waterfront property and are looking to install a sturdy floating dock, EZ Dock Texas can assist you. Visit our website for more information or contact us via email at your convenience.