Three Things You Need To Do When Purchasing A Waterfront Home
Posted on: 8 December 2016
If you have always dreamed of owning a waterfront home, now is the time to make this dream a reality. When searching for the perfect waterfront house for sale, follow these tips to find a home that fits your preferences.
1. Give More Consideration to the Property Rather than the Home
Real estates agent have a mantra,"Location, location, location." The reason so many real estate agents repeat this manta to buyers is the fact that you can change most aspects of a home; however, you cannot change the property that the home is on.
If you have your heart set on a waterfront view, look for a lot that has this view. Don't settle for an obstructed view simply because the interior of the home is gorgeous.
When you have dogs or children, it makes sense to search for a property with a large lot. See that the lot is usable; large lots on sloping or rocky property aren't as helpful as those on flatter terrain.
Some homeowners value privacy; one to ensure your private lot lasts for years is to look for homes on large lots.
2. Take into Account Your Interests
When purchasing waterfront property, make sure you consider your hobbies and personal interests. For example, if you like fishing, look for a property that includes a fishing pier or an area nearby for boat launching.
See that the property has ample storage to stow your equipment when it is not in use or has a spot that you can transform into storage.
If you like to lounge at the beach, look for a home that provides convenient beach access.
3. Get Quotes for the Applicable Insurance Policies
Before you get too deep into the home buying process, you need to know exactly what you can afford. To do so, you have to factor in all possible costs, including the mortgage, taxes, maintenance, and insurance. You don't want to find a property that you love, only to discover that the cost of insurance puts it out of your reach.
The required insurance varies based on the site of your home. Every home needs standard homeowner's insurance, but some homes need riders for flooding or earthquakes. Beach front homes in particular are known for having costly insurance policies due to the high chances of being hit by a hurricane or other errant storm.
When looking for insurance policies, make sure that you shop around to get the best price possible. Take advantage of any discounts, such as those provided for having your property and car insurance with a single company. You can also cut the cost of insurance by opting for a higher deductible.
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