Is a waterfront house right for you?

Waterfront Homes: What You Need to Know


The benefits of waterfront living are hard to oversell, but there are unique considerations to living along a body of water. Whether you're searching for an oceanfront condo to rent out, a lakefront vacation home or a riverfront house for quiet weekends, keep these factors in mind to make sure your purchase reflects your goals for the property:

1. Building Restrictions: Development options vary from home to home. Extending a dock or building an addition to your home may come down to niche water-related municipal codes. Consult a local developer if you're thinking about making significant changes to a property.

2. HOA Rules: Many waterfront properties have HOAs. If you want your home to double as an investment property or hope to take your jet skis out on the weekends, be sure to review the CC&R agreement to ensure your plans aren't prohibited by community rules.

3. Flood or Storm Insurance: Many states require waterfront homeowners to purchase extra insurance coverage to protect against storm damage. Even if flood and storm insurance are not required, consider it nonnegotiable. You need to protect your investment against realistic disasters and losses.

4. Water Surges: For an oceanfront home, consider a property along a seawall that can guard against rising water from a hurricane or tropical storm.

5. Tourism: Water attracts crowds. The closer you are to public beaches and waterways, the more tourists you can expect nearby during vacation seasons. If you want a property on the beach but would prefer to maintain a distance from crowds, be sure to ask neighbors about the tourist seasons.

Are you considering buying a waterfront home or oceanfront investment property? Get in touch today to discuss your real estate goals and start your search.

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