There is nothing more relaxing than sitting on your back porch and looking out over a lake, river or creek. For this reason, many homebuyers are in the market for a waterfront retreat or home with a view. However, purchasing a waterfront property isn’t something you should do without learning the basics about life on the water. Keep in mind these potential issues and talk with your real estate agent before you become too attached to that lakefront home!
· Access – A home can be on a lake or river, but not actually provide access to the body of water. Find out if the property has deeded access or if there is any other access stipulated in the sales agreement.
· Insurance – A home on a body of water is likely going to be in a flood plain. This may spell trouble when it comes to insuring your property. Contact your insurer and find out what type of insurance they require and recommend. Sometimes the insurance cost can be a big factor in what you will be willing to pay for the home.
· Governmental Protections – Certain bodies of water may be protected under a governmental clause. Make sure you look into any of these to find out if it could put a damper on future plans to build or expand your home.
· Wildlife – When you have a home on a lake, river or stream, you are more likely to have wildlife in and around your yard. Make sure you are prepared for the issues this may cause and find out what you can do to protect your garden or home.
· Fencing – If you have small children, you may need fences to provide them a safe place to play without worry of falling in a lake or stream. Check into what you must do to build a fence on your property and the costs that may be involved.
While these considerations may have you thinking twice about living on the water, there are plenty of benefits too. Look at the overall situation with an open mind and always consult with an expert. That way you can find a house that will meet all your desires—and save you from potential pitfalls down the road too.