What To Consider Before Buying A Waterfront Home

The purchase of a waterfront home is different than buying a home in a more traditional subdivision. There are some considerations you need to take into account before you make a final decision on which house you want to buy. Here are some tips to help make a waterfront home purchase successful:

Inspect the Home Thoroughly

Homes on the water are beautiful, but they are also more susceptible to damages. A home on the water has a higher likelihood of flooding in the home or basement, corrosion on the exterior, more significant issues with mold and mildew, and the like. You need an expert inspection with an inspector who primarily works with waterfront properties. You need a survey, water quality test, elevation certificates, and other water-related inspections that you would not normally need on a traditional home.

Pay Attention to the Water

Another consideration is the type of water near your waterfront home. Not all bodies of water are created equal. If you want a more peaceful atmosphere, a property near the ocean is ideal, as you can experience quiet sounds of water crashing and waves. If you want more access to water sports, a property near a lake or smaller body of water is more ideal.

Look at Different Insurance Requirements

When you own a waterfront property, it comes with higher risk. There is an increase in the likelihood of flood damage or hurricane damage. If an insurance company is willing to insure the home, be sure you know the exact cost and factor it into your budget.

Pay Attention to Hidden Expenses

A waterfront home may come with more expenses that you may not have thought about. The expense of water and sewer utilities can be more expensive. If you have a boat dock or lift, there may be fees associated with that as well. Be sure to ask about any extra fees that may be associated with the purchase of a waterfront home.

Pay Attention to the Shoreline History

Another item to think about is the history of the shoreline. Water and land can mix in different ways and eventually impact the structure of the shoreline. When the water levels rise, you can lose a major portion of your property. If the water line moves away, you could end up with a home far from the shoreline. Looking at the history of the shoreline's activity can tell you the trends of the shoreline and what could potentially happen in the future.