If you’re thinking of buying a home on the water here are 3 key points to consider.
- Prepare yourself for regular maintenance
It’s no secret that waterfront properties require a good deal of maintenance and upkeep. This wear-and-tear is often weather-related (that is, heat, humidity, storms and other natural disasters). Homes by the beach may also be negatively affected by the salt air.
2. Research the area and talk to neighbors – One of the best things you can do before buying a waterfront home (or any home) is to research the area. Make sure the neighborhood and local culture are a good fit for your needs. If there is an HOA, how strict are their rules. If there is no HOA you need to be prepared to see boats and trailers parked in the road.
3. Check insurance rates – Insurance rates tend to be much higher for waterfront homes than traditional homes. Why? Proximity to water often means potential damage from natural disasters and the elements (think: flooding, hurricane winds, tropical storms).
