From obtaining pre-approval to closing on the home, there is so much that goes into buying a house. When you add in waterfront to the mix, things just escalate. Lucky enough, there are real estate agents who specialize in waterfront homes and who know the ins and outs of this complex process. Here are 10 facts and tips about Texas waterfront homes you need to know before buying.
Choose an Agent Who is a Waterfront Specialist
A typical agent won’t have all of the knowledge of waterfront properties in your area to help you find the best deals, so it’s important that you work with a waterfront specialist. You may think you have found an exceptional deal on a home, but what you might not know is that there are underlying issues with the home that a typical agent would not know to look for.
Look at the Property More than the Structure
Take a look at the property as a whole, not just the home. You may find that you love the home, but that the water is mucky at certain times of year, the view isn’t as good as it could be, or that you don’t have as much privacy as you’d like. Remember that you can change certain things about the home, but you cannot change the location of the house. So buy a property you love and not just a house you love.
Choose the Waterfront Property that Fits Your Lifestyle
You may find the ideal house for you, but it may be an hour away from all of the conveniences you are accustomed to. Focus on the activities you like to do and what you are passionate about and why you want to live on the water before you choose a property. You want to make sure that the waterfront property hits all of the boxes.
Look into Obtaining a Loan Early
Waterfront properties typically come with a higher price tag than homes that are not waterfront meaning loans for these waterfront properties will fall into the jumbo mortgage category. Mortgage lenders will only consider very qualified buyers on loans of this caliber. Buyers should really start the loan process before they start looking for a waterfront home because it can take a lot longer to obtain this type of loan.
Make Sure the Structure Can Withstand Weather
Waterfront homes are exposed to more abuse from weather than the average home, which means you need to take extra measures to protect the home. You will need to invest in storm shutters and stainless-steel locks to avoid corrosion from moisture.
Know that Insurance Will Be a Higher Cost
Make sure to look into home insurance on a waterfront home early on so that you know what kind of expense this will be. Your real estate agent and insurance professional will be able to give you a ballpark quote so that you know how much you will be spending on insurance on the home.
Find Out What You Can Change on the Property
If there are things you’d like to change to a waterfront property, like adding a dock, you should start this process early to make sure that these kinds of changes or additions are allowed. Certain government agencies are really strict and tough to deal with, and you do not want to be purchasing a high-dollar waterfront home without having the guarantee that can make it your own. You should also find out what activities are allowed on the water as certain areas may have restrictions on jet skis, speedboats and other things.
Talk to Neighbors
It can’t hurt to get the inside scoop on the neighborhood just by checking in with neighbors and seeing what they have to say. See if they enjoy living in the community and see if there are any issues with the property you are considering buying. The neighbors probably know more about the home and the property than you think.
Look Into Utilities
Waterfront buyers who may be used to the convenience of living near the city may assume that electricity, an adequate septic system, clean water, cable and internet will be readily available at the property. This is not always the case and buyers should be prepared that bringing these services into remote areas can be expensive. You should look into getting utilities at the home before you buy it.
Know the Responsibilities of Owning a Waterfront Home
As a waterfront homeowner, there are greater responsibilities you will have when it comes to maintaining your home. Review the conditions, covenants and restrictions and talk to your HOA’s management company.
An experienced real estate agent will be able to vet a property and its history. You should examine the floodplain and its proximity to any structures located on the property by taking a close look at the history of development on the land. All of this info can be found via local government resources. Look at weather patterns and the impact of wind and flooding.
Understand Legalities
There are many legal issues that come with purchasing a waterfront property, which is why it is a good idea to work with a lawyer. One of the most important issues is how far the home extends toward the water. In certain cases, property lines can stop short of the water’s edge, which leaves a gap that could be zoned for public use like a roadway or a promenade. If your property does extend to the water’s edge, you could experience riparian rights, which means the rights to the water are shared equally amongst all of the homeowners of the property that extend to the water’s edge.
It is really important that you consider whether or not you are buying waterfront property that extends to the edge as it can impact how you can use the water and interactions you may have with your neighbors.
Benefits of Living in a Waterfront Home
There are so many benefits to living in a waterfront home. The amazing views, the tranquil atmosphere and the breeze from the water are just a few of the great features you get to enjoy living waterfront. Not only those things, but you also get to enjoy all of the fun activities that come with living so close to the water.
- Peaceful Atmosphere
Waterfront homes are typically far from other homes, meaning you get a great level of privacy. There is also a lack of traffic noise, pollution and other unwanted disturbances. You can actually hear yourself think.
- Amazing Views
One of the top benefits of living waterfront are the amazing views you get from the home. Just imagine watching the sunrise and the sunset from your home as it rises and lowers into the water.
- Water sports
There are so many opportunities to get out on the water for boating, kayaking and fishing. You have easy access to these fun activities when you have a boat dock and live on the water. If you have a boat, you can dock it just steps from your door.
- Great investment
Waterfront homes in Texas account for a significant value in terms of investment. Waterfront properties are often hard to find and retain their value well. A waterfront property can also be used as a rental property should you choose to move away.
- Health benefits
Spending time near the water can relieve so much stress. Just being away from the hustle and bustle of the city and being able to hear the water moving with the wind. The fresh air can do so much for one’s health. Think about how much more relaxed you will feel waking up to the serene water.
The key to purchasing a waterfront home is to have the right partner by your side through the process. A trusted realtor can help you find the perfect home that is of quality. If you are new to purchasing a waterfront home, there is a lot of info you will need to know in order to make an informed decision about purchasing the home. An agent who is experienced in helping their clients purchase waterfront homes can ensure that the sale happens smoothly and that you have all of the info upfront.
Waterfront Living is Truly Unmatched
Waterfront living has so many advantages and offers a lifestyle that we know you will enjoy. Understanding the added elements of owning a waterfront home is important in order to make a wise financial decision in purchasing this kind of home. Waterfront homes in Texas are truly one of a kind and there are so many beautiful waterfront homes to choose from.
The realtors at Myke Leatham can guide you to the perfect neighborhood with the perfect waterfront home for you in College Station. Contact us today to get started and take a look at our featured listings.