Looking at waterfront homes for sale can be an exciting prospect. But before you get started, it’s important to understand what you’re getting into. Let’s take a look at a few of the most common questions you might want answered when you’re looking at homes for sale on the waterfront.
Are Property Taxes Higher on Waterfront Property?
The short answer is typically yes. There has been a rising demand for waterfront property in recent years, which means selling prices have increased. In turn, property valuations come back with higher property values, which usually leads to an uptick in taxes. That’s why it’s important to ask your realtor about the tax history of the property you’re looking at. When Florida’s population grows by almost 1,000 people daily, it’s important to make sure you understand exactly what you’re getting into when you decide to move to a waterfront property here.
What Will I Have Access to on the Property?
This question is a common one, and for good reason! A waterfront property hardly means much if you’re unable to make use of the body of water it sits adjacent to. Understanding what you’re getting when you invest in a waterfront property is key. Will you have access to a private beach or dock? Does another property owner share the same boathouse or dock that’s on your property? These are all questions you’ll want answered before you seal the deal on any waterfront property. Fortunately, your real estate agent can help you get these answers and more.
What Environmental Issues Are There, if Any?
Environmental issues are common with waterfront property. Before you fall in love with any waterfront homes for sale, it’s important to assess the property and see if there are any waterfront-related issues. For instance, have there been erosion issues in the last few years? Does the seawall need to be replaced or is it holding up? It’s a good idea to speak with the neighbors to see what kind of maintenance they need to perform on a regular basis to get a better feel for what living in the area could be like.
When you’re looking at waterfront homes, don’t hesitate to ask questions. Your realtor will be more than happy to answer!