There comes a moment in everyone’s life when they want to have a home of their own. Renting is a good option until you get on your feet, but at some point, you just want to settle down. But let’s go a little beyond that. What most people dream of is buying a waterfront home. For some reason, maybe because of the air, the view or the calmness water gives us, people have always wanted to live on the coast. Whether your plan is to live there or use it for vacation, it will enrich your life. In order to make your dream come true, here are some things you need to know before buying waterfront property.
The process of purchase is very complex, and you probably won’t have time to deal with moving. Hence, while you are searching for homes, start asking around for referrals for moving companies as well. Or you can check out some of the reputable ones, such as Evolution Moving Company NB, online. These things are always better planned ahead, so start on time.
1. Flood insurance is a must
Water beautiful and liberating… to look at from the comfort of your front porch. It is really not as enjoyable when it’s pouring into your backyard or soaking your basement. Before moving in, you need to find out if your potential new home sits in a flood zone. Whether it sits or not, you need to make your house safe after you move in. For this reason, start investigating flood insurance, because it is a must.
Flood insurance is available for you through the federal government’s National Flood Insurance Program. It will protect you if ocean or lake waters flood your property. The rates you will pay vary, but approximately you can expect to spend roughly about $700 a year for this protection. You certainly don’t like that extra expense, nobody does. But remember, a single flood can cause tens of thousands of dollars’ worth of damage to your home. One of the most important things you need to know before buying waterfront property is that you better be safe than sorry.
2. See permits on the shoreline
While you search for waterfront homes for sale, you will see that many of these properties have space for more building. And part of the fun of owning waterfront property is, of course, enjoying all that water. Maybe, you will want to build a pier, boathouse, or dock along your shoreline.
Just like every other area, the shoreline has its own regulations and permits you need to get on top of. For example, if your potential home will extend into the water, you need to seek some permits. For this reason, it would be great to have a reputable local real estate agent by your side, since you will be dealing with things you are not familiar with. Also, boathouses, docks, and other extensions are subject to many regulations.
Generally, if you plan to build, rebuild, or repair a structure that extends into the water, you will probably need some kind of a permit. In most areas, that permitting process must follow the county’s waterfront plan, the local guidelines, the state’s regulations, and even the Army Corps of Engineers’ rules.
Assume nothing – check!
Most noteworthy, don’t assume the structures are permitted correctly, check that with your realtor and even your attorney. Also, sometimes there are many rules as to how you can repair waterfront features and they often involve expensive materials upgrades. So, make sure you have all this information before buying waterfront property, building or repairing it.
3. Wear of materials
Depending on your preferences and your waterfront location, materials can vary widely. But they all suffer due to climate conditions. For example, saltwater locations bring a heavy tear and wear on your home’s features and the home’s exterior. Hence, keep in mind that roofs, siding, and fences will wear down significantly faster than the same materials inland.
Although not like saltwater properties, freshwater properties also require extra care. Waves, winds, and storms can still whip up wear on your home by a lake or river. So, be prepared to replace materials more often than you would with a landlocked home.
4. Water activities
Water activities and all the beach fun is one of the main reason people are buying waterfront property. So, before you start your property hunting, check what your options are in the preferred area:
- Is the water clean and warm enough to swim in?
- Is fishing allowed?
- Are there some restrictions for electric or gas-powered motors?
- What about watercraft? Are there any restricted hours for its use?
- Is there a boat slip and how deep is the water there?
These questions depend on your plans, but you can find many answers in the local community. You can search for local websites, news, community centers, or simply talk to your future neighbors.
5. Although private, your home will be a little public
This is one of the things you need to know before buying waterfront property. Even if you buy a property with private land, you can’t stop people from having fun on the beach or on boats in the water in front of your property. Although your home and back yard are private, the beach and water in front of it are public, and that may bother you sometimes.
Everything you need to know before buying waterfront property
Hopefully, this little guide for buying waterfront property didn’t scare you off. The fact that this is not an easy process doesn’t make it less amazing. And the more research you do upfront, the more peaceful and confident you will feel in your purchase. Remember, living near water is always worth the effort. With the right information and guidance from an experienced agent, everything will be just fine. May you enjoy your new life near the water, to the fullest!
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