Living near the water is a dream for most people. It is peaceful and tranquil. Most often home on the water are away from the city’s utter over population. There is a level of calm that always exists along with a view that is spectacular every time of the day. Living on the water also means more privacy as your house is not blocked by houses stacked one on top of each other. Water front homes are directly in front of the open water. Which allows you to take part in water-related activities such as swimming, water skiing, fishing, boating, ice skating and more. Waterfront homes also retain their value better than most other types of real estate.
Often lake homes are more difficult to buy and harder to negotiate than a land-locked property. Here are some tips from professional real estate agents to keep in mind when looking into buying waterfront property.
Finding a Real Estate Agent That Specializes in Waterfront Homes
Many real estate agents do not have the expertise and knowledge it takes to purchase waterfront properties. As a home buyer you should always look for a real estate agent who specializes in lake front property as they would have a better understanding on the pros and cons of different waterfront properties.
Focus on The Property
Don’t just buy a home on the lake to say you have lakefront property. Many buyers are disappointed on their home once they have moved in when they realize the homes pitfalls. The basement may leak, the view may not be what you wanted, it can be muddier than you are wanting to deal with or many other issues may exist that you took for granted being focused only on getting a home on the water.
Taking Out a Home Loan/Mortgage
Lake homes are often more pricey than other types of property. Buyers looking to purchase a home on the water are advised to investigate mortgage preapproval sooner than later. Lenders often consider the most eligible and credit worthy buyers. With pricey water front property, it may take longer to work out a loan agreement between the lender and the buyer. It will be important for the lender to be sure that the buyer has considered the cost of insuring a lake front house as well.
Focus on The Structure of the Home
Properties in front of the water receive more abuse from added elements. It is suggested that extra measures should be taken to protect the property. For example, using stainless steel locks or storm shutters. The homes structure should be thoroughly inspected to make sure that there are not signs of any structural damage which could destroy the integrity of the home.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com. To contact one of our real estate agents call 734-426-6060 today.