When you buy a home near the water, it can feel like a vacation every day. The smell of the sea, the sound of waves, beauty, serenity, and endless water recreation opportunities – there's nothing like it. However, having a home near the water is unique in many ways, and there are more factors to consider before choosing your dream home. Here are our real estate agents' tips for buying a home near the water.
- Be Wary of Overpricing
With high demand and low supply of waterfront homes, sellers have the upper hand. As a result, homes might be priced higher than their actual cost should be. Ensure you're getting a good deal by looking at the 10-year sales history of the neighborhood or resort community you're interested in.
- Consider the Beach or Lake Accessibility
As a buyer, you should know that water isn't private property. Many beaches are open for the public, even if they're within resort communities. Consider how easy it is for other people to access the beach. Footpaths from the street, public parking and busy roads are clear indicators that the beach is convenient to visit.
- Determine How You Want to Use the Water
Are you more interested in sitting on a sandy beach than using the water? Then you probably don't need a waterfront property with a dock. If you're more into swimming, you want to find a water body that is clean and safe for swimming. Is kayaking, boating, or fishing more your style? Check with the locals about boating regulations and the quality of the fishing. You may have found your dream waterfront house, but if the water does not support your recreational activities, you won't be happy in the end.
- Research the Shoreline and Changes in Water Levels
Before buying a home near the water, you want to ensure that the body of water has somewhat constant water levels. Consider visiting the area during high and low tides. High tides can leave your home susceptible to flooding if they come very close to the water, while low tides can make for an unattractive view of debris, dirt, and litter.
- Look Into Potential Storm Damage
Hurricanes and severe storms are always a risk for homes near the water, but some properties are more susceptible to damage than others. Most buyers look for properties with a water view, but you may want to avoid buying a home directly on a lake, beach, river, or bay. To avoid flooding during storms, consider homes that are set far away from the water or at a higher elevation.
- Consider Additional Fees
Most waterfront properties come with additional fees. Some common additional fees are marina fees and dock fees. Other fees could include septic and water fees, homeowners' association fees, and fees for leasing the lot. It's important to understand how these fees will increase your monthly or yearly cost of the home. And if the property is subject to an association, understand what this will mean in terms of rules and fees.
- Find the Right Agent
As with any real estate transaction, the right real estate agent makes the process go smoothly. Our team of real estate experts can help you make your real estate dreams in Brunswick County a reality.
Contact us to start your search, and be sure to check out our Southport homes for sale.