Buying Waterfront Property: A Comprehensive 2020 Guide

Even though properties located in close proximity to water have always been incredibly popular among homebuyers, it seems like the novel coronavirus pandemic has only increased the demand for waterfront homes. Whether it’s the freedom, solitude, plenty of private space, or even the closeness to nature that these types of properties provide, there’s no denying that waterfront homes are one of the most sought-after options at the moment. If you are considering a property on the water as well, here is a comprehensive guide detailing everything you need to know about buying a waterfront home this year:

Select a suitable body of water

Apart from investing in a waterfront property, you will also be buying the future view of the water, as well as potential access to it. And from ponds and rivers to lakes and seas, the properties can greatly vary depending on the type of water body next to which they’re located. So, keep your preferences in mind before deciding on a property.

Also, think about the things you require from your new home. Would you like to swim in safe, quality water, or do you want to use a boat in any water, as long as it’s deep enough? If you’re looking for complete privacy and an isolated body of water, a mountain property near a lake might be the right choice, while a beach home could be ideal for swimmers and avid sunbathers, for instance.

Be aware of the local climate

The weather isn’t only important when it comes to your personal preferences; it could also significantly impact a waterfront property as well. For instance, while the local climate of some of the more popular tropical destinations, such as the Caribbean, might seem like paradise, these locations are much more susceptible to hurricanes than other climates, which will significantly impact the cost of any home insurance policy.

Similarly, nearly all shorelines move over time. If the water level rises, your waterfront property might be at risk, and if the waterline recedes, you won’t have a home on the water anymore. For that reason, it would be a good idea to ensure that the body of water you’re interested in has quite constant water levels which are unlikely to drastically change in the future.

Consider investing in luxury

Luxury waterfront properties are always a great investment. Not only will they provide you with all the privacy, comfort and any additional amenities you might need, but chances are they will also retain their value in the future, making them a good choice if you ever plan on reselling the property.

One of the best options you could consider are beautiful waterfront properties in the Mediterranean, as they tend to offer the best of both worlds. These properties are generally located right next to gorgeous beaches, while also offering special benefits such as local yacht clubs for you and even excellent private schools for your children. What’s more, the Mediterranean is known for having a mild climate that’s favorable all year round, allowing you to experience the beauty of all seasons without any extreme weather.

Carefully inspect potential properties

While this tip might seem obvious, especially to those who are already experienced homebuyers, getting a careful inspection of the property before making an offer is absolutely essential. This doesn’t only mean that you should spend some time in the property and on the water itself, but also that you should hire a professional to carefully inspect the real estate in question.

A professional inspector can make sure there is no water damage on the property and that the septic system is functioning properly, both crucial aspects of waterfront homes which could end up being quite costly if they aren’t sorted out in time. After all, the price of inspection and small repairs are minimal, considering the safety and security they will undoubtedly provide.

Learn about future maintenance requirements

Unfortunately, waterfront properties aren’t quite the same as any other home; they require some additional maintenance and responsibilities. Not only will you need to take good care of your home, you would also need to maintain the surrounding land regularly, as properties located on the water are usually much more susceptible to weather-related damage than other real estate.

For example, the shrubbery and trees surrounding the property will need to be maintained in order to protect your home, not just to look aesthetically pleasing. Similarly, roofs, decks and any docks on the water will need proper, more frequent upkeep, due to the challenging weather conditions.

Overall any waterfront real estate will need to be carefully preserved, in order to withstand the often rough conditions it encounters.

Even though waterfront homes require some additional maintenance and investments, the privacy, peace and serenity they provide is simply unparalleled, especially during these challenging times.

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