Buying cheap waterfront property is a dream many Americans have. Whether it’s a cute little cottage on the shores of a freshwater lake or a multi-story bungalow that gives you access to the white sand beaches of the Atlantic, finding cheap waterfront property can allow you to live a wonderful life, soaking up the sun, fishing, and holding campfires under the clear ocean sky.
Of course, finding cheap waterfront property that will leave you with more benefits than risks is often easier said than done. Coastal erosion, expensive insurance, hurricane zones: there is a lot to consider when searching for cheap waterfront property. By keeping these three simple tips in mind, however, you can make finding that perfect home that let’s you listen to the lapping waves when you wake up as easy as pie.
Three Things to Consider Before Buying Cheap Waterfront Property
- Consider More Than the Waterfront Property Management
- Find a Real Estate Team That Specializes in Waterfront Property
- Are You Going to Need Flood Insurance?
As the U.S. Environmental Protection Agency suggests, you should consider more than just the structure and land you’re going to have to manage when you buy along the waterfront. Is there a lot of boat traffic? Are the beaches public or private? Keep these things in mind to make a smart choice about a property that gives you the privacy you want and quiet you need.
For HGTV’s Front Door, one of the best ways to ensure you’re buying a great piece of waterfront property is by doing business with realtors who specialize in waterfront listings. Local boating laws, fishing rules, and any housing association fees and guidelines: whatever it is, realtors specializing in waterfront property are the best way to make sure you’re making an informed decision with your purchase.
As the climate continues to worsen, you need to be sure about whether or not you’re going to need flood and hurricane insurance along the coast. As Forbes writes, many luxury condos for sale come with these types of insurance included in your fees. If the property you’re considering falls into the EPA’s flood zones, you will be required to buy flood insurance. It’s another cost to consider, but it will be worth it in the long run.
Do you specialize in waterfront real estate sales? What tips would you give to those searching for their dream property? Let us know in the comments below! More.