Overlooking a peaceful lake, a particularly beautiful stretch of a river, or an ocean – it doesn’t matter. There is no denying that living by the water is a unique and rewarding experience. That said, it’s important to note that procuring waterfront property can be a complicated and daunting task. There are many other variables in place, and you need to be aware of what it means to actually live next to a body of water – how it affects the property itself, what your rights are, whether or not you’ll have enough privacy, and much more.
If you’re looking to buy a home near the water like Walloon Lake, then you need to do your research, find the top properties in the right regions, conduct a thorough inspection, and be aware of the local laws and regulations. Let’s put all of that into perspective and take a look at the key steps you need to take to invest in the right waterfront property in 2021.
Start with a thorough inspection
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First and foremost, whenever you’re considering a waterfront property, you need to conduct a thorough inspection of the property and its surroundings and the neighboring waters, land, and soil, and any assets that might come with the property. The first thing you need to keep in mind is that while the water might be easy on the eyes, it can be very harsh on the building itself.
In well-developed and controlled areas such as the London riverbank, you can have an easier time ensuring that the property is protected and that the infrastructure surrounding it is sound. Out in the countryside or seaside urban environments, things might be different, though. Have a professional inspect the property. Check how the water has impacted the building thus far. Also, how it may impact the quality of your investment in the years to come.
Choose the right type of water
The next crucial consideration is the type of water you want to live near, and mind you. It is very important to choose the right one. Different water types bring different benefits and potential risks, and of course, the property may even be overpriced because of the type of water it is adjacent to. For example, lakeside properties can be safer due to the absence of tides and a lower risk of water damage, but that doesn’t mean that your lake property can’t get flooded during extremely rainy seasons.
On the other hand, rivers, seas, and ocean waters allow you to get your own boat and sail around as much as you like, and they can be safer to swim in than lakes. If you’re buying a property near still water, you need to make sure that the lake is clean and safe to swim in. Otherwise, you’ll be taking on potential health risks. With that in mind, be sure to consider the type of water you want to live by carefully.
Find the best waterfront locations
If you’re looking to procure a waterfront property, then you need to look beyond your city and even your country for the best and most captivating opportunities out there. The shores of Europe are filled to the brim with lavish and comfortable waterside properties in some of the most prominent ports in the Mediterranean and the Adriatic.
Such are the luxurious Adriatic residences for sale based in Montenegro that boast private docks and from which you can embark on sailing expeditions across the Mediterranean Sea towards Italy and Spain or through the maze of breath-taking Greek islands. It’s not only important to find the best locations, though, as you also need to keep in mind that Montenegro, Croatia, Greece, and other locations have some of the most affordable waterfront properties in Europe.
Be aware of any changes in water levels
Before you finalize any papers, you have to familiarize yourself with the temperament of the local waters. Research the local climate and weather conditions, know what every season entails, and check with local experts and real estate agents how the adjacent waters can affect the property over the long term.
Don’t get fooled into buying a property sitting on a piece of land that might erode or near water that tends to rise. Be aware of the tides and water levels on the high end, and avoid properties that require you to invest in added water protection or high-cost maintenance and repairs.
Keep in mind that you don’t own the water
Finally, one of the key things to consider before investing in a waterfront property is that you don’t own the waters, so you can’t control people and boats’ flow. If you’re looking for absolute privacy, but you’re looking at a property adjacent to a popular lake or a busy part of the city’s riverbank, you’re in for a nasty surprise. Scrutinize the local laws and regulations carefully to see what you’re entitled to, how you can retain control of the property’s surroundings, whether or not you can build a private dock, and more.
Living in a waterfront property is a rewarding experience with probably the best views that money can buy. Use this guide to find your dream waterfront home in 2021 and make an investment of a lifetime.
Featured Photo by Erik Mclean on Unsplash