Waterfront Luxury Real Estate Buying Tips
That great question was asked of us at Sportsrelocation.com the other day, and it is a great question because buying waterfront luxury real estate truly is a different process than buying regular real estate. There are new considerations to keep in mind, so let’s take a look at a few tips that might help.
- Find a real estate agent who specializes in waterfront property. Like so many things in life, you want an expert to guide you through deep financial waters. Working with an agent or broker who is familiar with this particular market is crucial with so much money at stake.
- Give more consideration to the property rather than the home. This is exactly opposite who most people approach the purchase of real estate, but with waterfront it is true. You can make alterations to any home. You really can’t change the property. Do you like the view? Is it easy to access the waterfront? Can you swim in the water there?
- Begin the loan process early. Most waterfront purchases are much more expensive, so that means a jumbo loan, and that means a longer process to get approved for that loan.
- Can the structure withstand the weather? If you are looking at a home on the ocean, that means your home is going to take a beating from the weather. It would be a shame to move in and then two years later have major construction issues.
- Be prepared for insurance issues, because waterfront property falls under a completely different insurance class, and it can be quite expensive.
- Find out your future rights regarding the property. In other words, are you allowed to add a dock? A seawall? Make other changes to the property?
These are just a few of the things to consider when buying waterfront property. Give us a call and we’ll walk you through the entire process, and answer any questions you might have.
Sports Relocation, Inc. Sports Relocation, Inc assist players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.