Getting a Bargain in Waterfront Property

January 3, 2012
7900 Hawthorne Ave Miami Beach

 The decision to purchase a waterfront home can be considerable in terms of cost. However, there are hidden bargains—if you know what you’re looking for. There are a few simple strategies that will help you and your REALTOR® find the hidden gems of your area in your home search. The first strategy is to expand your home search by including properties located a short distance from the water—often, a property located a street or two from the waterfront will differ dramatically price-wise. Though second-row beachfront and lakefront properties may no immediately seem as attractive a prospect, they may in fact be as easily accessible, provide equally attractive views, be less susceptible to stormy weather damages and benefit from a significantly lower price tag, making them waterfront home bargains.

1425 Brickell Ave 52B

Condos and duplexes are also wise waterfront investments, as duplexes are popular beachfront home options that allow homeowners a freestanding home at a lower cost, while condos are price-savvy options because developers can construct more homes on less property. Condos allow a larger payoff on investment, but remember to calculate in maintenance and homeowners association fees on waterfront condo properties. 

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