When many people start looking for a new home, they wonder what they should choose and how much of an investment it will be. Although many people aren't quite sure about what their new home will look like, the fact of the matter is that there are many aspects to be mindful of when it comes to real estate. From paying attention to how much things cost to looking carefully at your options, it really pays to understand and apply a little wisdom before you break ground on a project. Check out these posts to find out great tips about real estate.
When buying a waterfront home, only a fraction of the appeal is focused on the actual home. The awe-dropping element of the purchase is the water. Given this factor, during the buying experience, much of your attention should focus on the body of water that surrounds your home. Learn about some of the areas you should focus your research on.
Recreational Traffic
Learn more about the recreational traffic that you should expect should you decide to purchase the property. Remember, the home and dock are your property, but all the water is not. If the waterway near your home is popular, you might experience heavy traffic. If you want a more secluded situation, you probably want a property with access restrictions. Visit the property on the weekend to get a good idea of what traffic might look like.
Local Regulations
Find out how far into the water your property extends. In some areas, the property line ends at the point where the water starts. In this type scenario, the type of dock the homeowner could build would be limited, if the option of building a permanent dock is available at all. You should research the regulatory standards for the water that surrounds the property to see just how much flexibility and ownership you will have, especially if you have big plans in mind for building on the water.
Development Plans
If the property line for the home does not extend to the water, it's a good idea to learn about any upcoming development plans. If there is any property between the home you're looking at and the water, someone else could purchase the property and build a home. In this type of scenario, the new development would likely block your view, which isn't ideal when it comes to owning a home near the water. A real estate agent will likely be able to help you learn more in this area.
HOA Requirements
In the same manner that the local government might be able to impose restrictions on whether or not you can build on the water, if there is an HOA, you might be restricted on what you can build. Some HOA's stop their regulations where the water line begins, and then other organizations extend their regulations into the water. With this scenario, the HOA can put limitations on your building options, so think about whether or not this type of setup would go against your wants.
Take your time as you search for your waterfront property and keep these tips in mind.
Share18 February 2020
