Buying a waterfront home in Florida can be a luxury real estate investment for some people. The state’s population grows by around 1,000 people per day. However, the home buying process can be complex. What are some of the things you need to know? Here are four tips to consider when purchasing waterfront homes for sale in Florida.
Perform A Careful Inspection
Waterfront properties are prone to elements that can cause extensive damage. Flooding, salt air corrosion, mold, and mildew can wreak havoc on the structure of waterfront homes. Make sure to have an expert inspection, water quality test, and land survey performed to help you determine what you may have to deal with. Pests can also be a huge issue, so you will want to make sure to check for them as well.
Understand Shoreline Restrictions
When considering a luxury waterfront property for sale, check for any shoreline restrictions regarding bulkheads, piers, and docks. You’ll want to find out from government agencies what the requirements are for constructing these structures. Find out if there are tidal wetlands or resource protection areas on the property. Ask about what activities are allowed within these types of areas.
Research Property Renovation Restrictions
One of the worst things for homebuyers purchasing waterfront homes for sale is finding out they can’t truly make their home the way they want because of government regulations. These agencies are strict when it comes to alterations. You will want to ask about the rules regarding seawall and dock additions as well as what boating activities are allowed.
Calculate Hidden Costs
Waterfront properties for sale in Florida contain many hidden costs that other typical homes may not have. Because of the unique weather elements, you can spend more time maintaining your home to prevent corrosion and potential water damage. You must use specific waterproof material in any construction projects and utilities may be higher. Boating fees will also need to be taken into account as well as higher property taxes and insurance. Keep in mind that you will be required to have three insurance policies covering wind, general liability, and flooding.
There is much to consider when looking for waterfront homes for sale. Enlisting the help of a knowledgeable realtor can help you navigate the process to find the best one for you. Do your due diligence and you will be able to find the dream home for your lifestyle.