Waterfront property is unique. It offers versatility and beauty since the buyer is getting water and land all in one. However, it is also more complicated, in many cases, than buying real estate away from the water. Some tips that will help make buying Lake Murray Real Estate easier can be found here.
Inspect the Property Carefully and Thoroughly
Water is easy on the eyes, but it is hard on buildings. Regardless of if the water is coming into the basement because of a high-water table, damage on the outside due to salt air, or mold and mildew issues caused by higher levels of moisture in the air, a professional inspection can help a buyer understand what kinds of issues they may be facing. Water quality tests, elevation certifications, and surveys that may not be conducted on other properties may be necessary for a waterfront home.
Choose the Right Type of Water
Not all waterfront property is created equal. If someone wants to enjoy the scent of salt air, buying on the beach is recommended. However, to hear the crashing surf, buying on the bay may not be the right option.
Purchasing property on a lake provides a buyer with the opportunity to purchase a powerboat, but for peace and quiet, a smaller body of water may be best. Take some time to weigh wants and needs to find the option that best suits a person’s needs.
Walk Around the Property
Spending time on the water will help a buyer see if the property is as good as they believe it is. For example, there may be a beautiful view, but access to the water may be limited. On the other hand, if a lake looks amazing from the window, it may be full of all types of debris and weeds. If the property has an ugly backyard, it is easy to change the landscaping. However, with waterfront properties, the water is part of the deal. Make sure to get it right by inspecting this part of the property just as carefully as the home itself.
Check the Required Insurance Requirements
A waterfront property usually has a higher risk of flooding. There are also issues related to natural disasters. It is a good idea to find out about the insurance requirements for the property before buying. This is going to ensure that someone does not get a property that is virtually impossible to insure.
Look for Any Hidden Costs
Sometimes, waterfront properties will come with additional costs buyers are not aware of. For example, sewer and water rates are sometimes more expensive than inland property owners see. Boat dock and lift fees, along with well and septic tank upkeep, are hidden costs a property buyer needs to be aware of before moving forward with the purchase.
When it comes to buying waterfront property, there are more than a few factors to consider. Be sure to keep the tips and information here in mind to make the right decision regarding the property that is ultimately purchased.
