Southern Florida is rich in beautiful waterfront properties. Florida is expected to exceed 22 million people in 2020 and surpass 26 million in 2030. Now is the perfect time for investing in waterfront properties for sale by contacting Henri Vezie, real estate agent and co-founder of the Henri Frank Group in Ft. Lauderdale. What should you know about luxury waterfront homes in Florida? Here are five tips for purchasing a waterfront home.
Apply For Home Loans Early
The available loans for waterfront properties typically fall under the category of jumbo mortgages. These loans are a higher risk for lenders because luxury properties are often harder to sell. You will want to make sure you can get your financing secured before looking at any properties for sale.
Use A Knowledgeable Real Estate Agent
When considering waterfront property, you’ll want to use a licensed real estate agent like Henri Vezie who is highly knowledgeable about luxury waterfront properties. These properties have unique challenges that come with them. You’ll want someone on your side that can spot these issues and help you navigate through the process.
Understand Various Insurance Policies
There are a number of different insurance types to consider when living in southern Florida. Homeowners are required to purchase a general hazard policy, a flood policy, and a wind policy. You’ll have to decide whether you want to purchase these three policies through one company or buy them separately. Each home you consider will have different requirements for insurance as well.
Check Out Boat Guidelines and Depths
Many people choose waterfront homes to be able to take advantage of the water through boating activities. Different areas will have specific rules and regulations regarding depth and size requirements for boats, docking rules, and more. You will want to find these out to make sure the home will be right for your lifestyle.
Get Friendly With The Neighbors
One way to help you determine if a waterfront property is right for you is to have a friendly chat with the neighbors. They will be able to fill you in on any challenges they face. Be sure to talk with people who have lived in the neighborhood for more than a year to get an accurate picture.
Buying a waterfront property can take time and dedication, but it can be highly worth it if you do it right. Choosing the best real estate agent you can find will help make the process a whole lot easier. Give Henri Vezie a call today to help you choose the best waterfront property for you.