Many people dream of owning a home on the water, whether it be a lake, river, or bay. For many, views of sunrises and sunsets on a peaceful lake bring feelings of happiness, serenity, and calmness. If you think you may be ready to make this dream come true for yourself, there are a few considerations you may want to reflect upon before taking that first step.
Considerations Before You Buy Waterfront Real Estate
Firstly, address the exact reasons why you want to own a waterfront property. What kind of activities do you plan on doing? Boating, fishing, and swimming are common water activities, but cannot be accomplished on just any body of water. Be sure that the water on your prospective property can accommodate your needs and desires.
Decide if you want to have rural surroundings, or if you would like to live near more urban conveniences. Choose your prospects accordingly.
Be aware of any federal, state, and local laws that may affect you as a waterfront property owner. Research these laws before deciding if that waterfront home is really for you.
Know that, as an owner of waterfront property, you will have a responsibility to protect that environment for future generations. This practice is called stewardship and should never be taken lightly. Protecting the natural shoreline of your waterfront real estate will not only benefit the environment, but your investment as well.
You want to be sure that the quality of the water meets your personal standards. The water, wildlife, and lake bottom are just some of the important factors to consider. Remember, while the landscaping of your land may be altered to your specifications, the water is the one thing on your property that cannot be changed.
Ideally, you want your shoreline to be sandy. Mucky shorelines are not very pleasant to walk on. While there will almost always be some muck on the shore, less is better.
If you plan on fishing on your lake, be sure to research the native species of fish living within your body of water.
The lake bottom is another substantial factor to consider. As with the shore, you dont want an overly mucky bottom. Preferably, you will most likely want a sandy bottom or similar material.
The clearer the water, the better. A recent study of over 1,000 waterfront properties in Minnesota found, when all other factors were equal, properties on lakes with clear water command significantly higher property prices.