Getting a Bargain when buying a Waterfront Property

February 4, 2013
Miami Beach waterfront property for sale

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.

Read: Seven Tips to Buying a House 

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.

Waterfront Condo in Brickell Avenue

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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