Skip to content

Buying waterfront property in Florida? Here are 8 things to consider

Waterfront Condos For Sale

Florida is a dream destination for most people all over the world. That’s the reason Florida’s population increases by about 1,000 people each day. From the many amusement parks to the diverse population, from the scrumptious food to the sunny weather and beautiful beaches, The Sunshine Estate has a lot going for it. Certainly, owning waterfront property in Florida is on top of most people’s wish lists. Good thing top realtors like Henri Vezie will help you find waterfront condos for sale in Florida’s premium destinations. Here are a few tips when you’re trying to find the right property for your lifestyle.

1. Work With a Reputable Waterfront Real Estate Expert

Waterfront properties for sale in Florida’s top locations like Fort Lauderdale are usually in high demand. Properties closer to the beach with scenic and clear views of the ocean are especially hard to find, even when you’re willing to pay top dollar for them. You’ll need a real estate agent who is well-versed in Florida’s property market to get waterfront condos for sale in exclusive locations.

A Fort Lauderdale local real estate agent is better equipped to help you search and buy waterfront property in Fort Lauderdale. To get the best deals on waterfront homes for sale in Florida, especially if you’re a first-time buyer, you need professional guidance from a local real estate company.

2. Know the Value of the Location

While the design and structural integrity of your waterfront house contributes to the overall value of the property, the big money comes from the location of the waterfront home. This is because the view of your waterfront property is permanent, while you can conduct renovations to the house well into the future. As most real estate agents advise waterfront property buyers, you should prioritize the location of your property. Select the location that will give you the most utility and convenience depending on what you want from your waterfront home.

3. Understand Shoreline Restrictions

When considering a luxury waterfront property for sale, check for any shoreline restrictions regarding bulkheads, piers, and docks. Find out if there are tidal wetlands or resource protection areas on or around the property.

4. 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. Florida’s building codes also require every house over 40 years to be thoroughly inspected. So, always request for an inspection of the building.

5. Check the Insurance Requirements

Generally, waterfront properties attract higher insurance premiums. Understandably so, because, as mentioned, waterfront homes are more prone to weather-related damage such as storms, floods, and tornados. Florida requires waterfront homeowners to purchase wind policy, flood policy, and hazard policy insurance. A good real estate agent like Henri Vezie will inform you which insurance policies you’ll need for your waterfront property and connect you with reputable insurance companies.

6. Seek Home Loans in Advance

If you’re relying on a mortgage to finance your waterfront home, speak to a mortgage lender early so you establish your credit standing. Even before you check out waterfront condos for sale, get a pre-approval or a Desktop Underwriter loan commitment from your lender. This gives your real estate agent a good estimate to work with when finding you a suitable waterfront home.

Because of the high demand for Fort Lauderdale waterfront homes, you may miss a great offer if your lender delays approving or rejecting your mortgage loan application. That’s why you should work with a reliable lender who will fast-track the lending process. Luckily, the top real estate companies have good working relationships with reliable mortgage lenders who understand the real estate industry. 

7. 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.

8. Calculate All Costs

Waterfront properties for sale in Florida contain more specialized costs that other typical homes may not have. Because of the unique weather elements, you might have to spend time maintaining your home to prevent corrosion and potential water damage. Boating fees will also need to be taken into account as well as property taxes and flood and weather-related insurance. Keep in mind that you will be required to have three insurance policies covering wind, general liability, and flooding. Having an accurate budget helps you and your agent narrow down your options, so you can purchase waterfront property sooner.

When buying waterfront condos for sale in Florida, consider all the above tips for the easiest experience. Your best bet to buying waterfront property in Florida’s best locations is through an experienced real estate agent in Florida. Speak with a real estate agent from the Henri Frank Group today!