Before You Dive In, What It’s Really Like To Have A Waterfront Property

It’s a well-known quantity in real estate, it’s the dream of every second-homeowner, and it’s regularly touted as profitable beyond compare. Waterfront properties, by the lake or by the sea, hold an innate attraction for many. But do they make a sound home or a sound investment? As with all properties, there’s no clear-cut ‘yes’ or ‘no’ answer. It depends on what you want from it and what you’re willing to do to get it.

beach-front-1624622_960_720

Source

Investment potential

Looking at waterfront properties as an investment is one of the easiest ways to see some real benefit to buying one. The average home doubles in value when it’s taken to the beach or the lakefront. Even when the property market collapsed in ’08, their value stood relatively strong and soared when the market came back. Adding luxury fixtures to a waterfront property can send its value soaring even further. If you use it as a second home, there’s a considerable income to be made renting it out as a vacation home when you’re not using it, too. At worst, they retain their value much better than other homes. On average, they appreciate more often than they depreciate. At best, if they’re near an area that’s on the rise, they can become some of the most valuable properties around. Just look at Laguna Beach, where the average value of a beachfront home has soared up to $10.1 million.

It can be a lot of work

That’s not to say that those investments don’t come without their risks. In terms of value, your greatest threats are going to be exposure to natural damage. Salt damage by the beach is a major concern. If you’re looking at the coast, you have to be aware of changes in the sea level and if there are any trends that could end up tanking its value entirely. Humidity, mist, wind, and damp are of greater concern too, so vigilant, constant maintenance is essential. In terms of day-to-day living, pests like mosquitos and snakes can be a risk as they tend to live close to water.

people-2590731_960_720

Source

Living on the edge

The reason that lake homes for sale are such an attractive package is the lifestyle they offer. It differs from place to place, but great access to nature hikes, boating, water sporting activities and more are what lull most people to them. If you live in a more secluded area, your access to certain perks of the lifestyle is diminished. However, there are plenty of smaller lakefront communities that offer some measure of privacy while still providing all the amenities that make them so tempting in the first place.

Privacy can be a concern

Lakefront homes are often less susceptible to this. However, beachfront properties tend to be on some of the most attractive stretches of land in any area. When summer comes, you have to be prepared for the glut of beach-goers who are going to be around your property. As beautiful as the views are, you might have to invest in extra privacy for your backyard, not to mention noise dampening additions like acoustic tiles or trees and bushes.

Depending on where exactly the property is, some of these points are going to be more salient than others. But it’s worth being aware of exactly what the risks are and what the potential benefits are before you make your move.

 

Leave a Reply

%d bloggers like this: