4 Things You Need To Know Before Buying A Waterfront Property

The idea of owning a waterfront home is appealing to many. After all, who wouldn't love being able to view a beautiful ocean- or lake-front sunset from the comfort of their living room each night? Still, before you make the decision to purchase a particular waterfront property, there are a few things you need to know in order to avoid potential headaches down the road.

Special Insurance Requirements

Depending on the specific location of your waterfront home (its proximity to the water, the body of water on which its situated, etc.), there may be specific types of insurance you'll want to buy for your property. For example, if the home is located in an area where hurricanes are a threat, then flood insurance and other additional homeowners coverage may be an important investment (and additional expense) to consider.

Shoreline Erosion Concerns

Another potential concern when it comes to buying a waterfront property is that of shoreline erosion. Over time, erosion can quite literally eat away at your property (and thus its value). This is why it's a good idea to find out about erosion trends in the area before buying a waterfront property. Also, do some research into finding out if any barriers to prevent erosion have been constructed along the shoreline, such as bulkheads or sea walls.

Regulations on Building/Modifications

Thinking about building a dock along the shore of your waterfront property so you can enjoy easy boating access from your own backyard? Be careful; there may be regulations in place that prevent construction of docks or other modifications. This is why it's so important to do your research ahead of time and make sure these kinds of additions are permitted. A real estate agent experienced in waterfront properties should be able to assist you here.

Availability of Cable, Utilities, Etc.

Finally, don't assume that a waterfront property will have all the luxuries of your "typical" residential neighborhood. Depending on its location, you may not have access to a wide selection or cable/Internet providers, and cell phone signals may be weak. Furthermore, you may not have access to certain utilities, so it's worth finding out about these factors ahead of time.

With so much to keep in mind as you shop for your dream waterfront home, it may seem a bit overwhelming. However, with a little bit of patience and the right real estate agent, you can make it happen.


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