Getting a Bargain when buying a Waterfront PropertyFebruary 4, 2013
The decision to purchase a luxury waterfront home can be considerable in terms of cost. However, tif you know what you are looking for, there are hidden bargains. Today we want to share a few simple strategies that will help you and your Realtor® find the hidden gems of your area in your waterfront 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 not 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.
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.