With the most recent recession out of the way, people are beginning to look into purchasing vacation homes again. This means waterfront property with a view is becoming a hot commodity again! If you’re looking to purchase a second or vacation home, what are the first things you should consider in a waterfront property? Advanced Waterfront has seen both vacation home successes and horror stories. Here are some helpful steps to take when considering a home on the water.
Choose the Location Carefully
The very first question you’ll want to answer before searching for the perfect vacation home is why you want this home. Are you planning to live there for half of the year? A few months? A few weeks during the summer? This will help shape where you look for a home. According to the National Association of Realtors, 86% of vacation home purchasers in 2013 planned to use their vacation home primarily as a getaway with their families, and the vacation home was on average 180 miles away. Does any of this sound familiar? You’ll want a location where your whole family can easily access the home and one that presents activities for all age groups. If you’re looking at the property as an investment, you’ll also want to scope out the growth rates of the community you’re interested in as well as the local economy. Taxes on waterfront property will also generally be higher since the land is more valuable, so keep that in mind as you prepare your budget.
Access to the Water
Of course, when looking for waterfront property, you want to find a home that has access to the water as well as a pretty view. You want to ask a few questions of the properties you’re interested in, such as: does the property have direct access to waterways? Can a dock or boathouse be built according to local building codes? Are there plants, rocks, shallow water, or strong currents that make boating or swimming difficult?
Home Repairs and Maintenance
Another important question to ask your realtor is how much annual repairs and maintenance on properties in the area are; generally, properties closer to the water are more exposed to the elements. There are also repairs unique to waterfront property, such as dock and seawall maintenance, and the installation and repair of septic tanks.
Keep these things in mind when working with Advanced Waterfront, and we’d be happy to answer any questions you may have. We specialize in waterfront real estate in Connecticut and Long Island Sound, and we’d love to offer you and your family a vacation home you’ll fall in love with. Contact us today!