There are many differences when comparing waterfront property to conventional, non-waterfront property that homebuyers should consider. From safety aspects with small children, to the ability to go for a swim or relax on your own private shoreline any time you want, deciding to purchase waterfront property in Massachusetts can be challenging.
If you are considering buying waterfront property in Massachusetts, keep reading as the property investment experts at Sovereign Realty Advisors are going to share some tips on buying waterfront property that will make your decision an easy one.
Check insurance requirements. Waterfront property has its own insurance requirements that could add to the cost of the home. From hurricane and flood insurance to increased accident insurance for guests and family, the monthly costs could creep up.
Consider the hidden costs. Most properties include a wide range of hidden expenses that new homebuyers are unaware of. Utility bills such as water and sewer rates are often higher for waterfront homes. Additional boat dock fees that aren’t included in the sale of the property, may also apply.
Walk the property carefully. Walk every inch of the property if possible and look for any issues as well as any factors that contribute to the property’s value including view and water access. Get a thorough inspection to ensure you’re aware of any potential issues.
Inspect the property carefully. This is as important as it is with any property you are considering purchasing. Waterfront properties have their own issues that you should look for including the water table, corrosion on the home as well as mold and mildew issues from the higher moisture content in the air. Be sure to ask for surveys, elevation certificates and water quality tests above and beyond the typical home inspection.
Work with expert real estate advisors. Sovereign Realty Advisors would be happy to help you find the right waterfront property for you and your family. Any time you purchase a property in Massachusetts, it is a good idea to work with an expert realty advisor. We can help guide you through the property purchase process and help you understand the pros and cons of waterfront property.
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