Luxurious waterfront homes are available in many different settings depending on the local geography. The waterfront can make the home feel like being on a vacation every day. Access to the water makes it easy to boat, fish, sunbathe, or simply enjoy the view. Depending on the buyer's preferences and level of privacy wanted, there are homes that are near the marsh, lake, swamp, or directly on the ocean. Here are a few tips for buying waterfront homes.
Obtaining a mortgage preapproval ensures that funds are available immediately to put in an offer if cash is not being used. Proof of an ability to pay may be required from the real estate agent prior to homes being shown. Find a real estate agent who has experience in neighborhoods where the waterfront properties are located. One way to choose the type of waterfront desired is how many activities take place daily. Many waterways are busy and full of activity and noise, that could be extremely disturbing if the home is close to the waterfront. Consider nearby towns or out of state properties if a suitable property is not available.
Work with the real estate agent to have an inspection done to check for structural issues and problems caused by being close to the water. Depending on the activities that will be done in the water, many potential property owners will have the water inspected for quality. Walking the full length of the property is a great way to see issues or other recreational areas that may not be presented on the listing's pictures or video footage.
Unlike traditional homes, waterfront properties may need several different insurance types to protect against earthquakes, hurricanes, or floods. Extra costs may apply for maintaining the dock and septic tank. The monthly bill for water and waste costs more for homes not on the mainland. Find out what homeowner's association rules may be in place for renting to tenants. This may not seem important if it is a primary residence, but personal needs may change. Spend time obtaining the current water level and find out which direction the shoreline is predicted to move in the future.
After determining the true cost and condition of the property, work with the real estate agent to place an offer and assist with the details of closing the property. Use these tips when looking for suitable waterfront homes for sale.