Luxury Home Advice - Waterfront Luxury Homes

When searching for a luxury waterfront home, look around at different properties. Asking a realtor who specializes in this type of property can make the search easier.

Questions to ask sellers or agents for waterfront property:
• How does the property change from season to season?
• How do the varying water levels affect the land?
• Are there are restrictions on building a dock or a boathouse?
• Do I need a permit to do so?
• Does the home have access to electricity, sewage, and other utilities?

Never assume the answers to these questions because they greatly affect your decision to purchase a luxury waterfront home.

Waterfront property types vary, depending on what kind of water you are near. If you are looking at purchase a lakefront luxury home, there are special considerations to consider.

For instance, you need to know definitively whether the lake remains at a constant level or not. If not, find out how drastically the levels changes and at what time of the year.

If you are in a waterfront property that is prone to flooding, you might have a hard time finding homeowner’s insurance.

Likewise, on some lakes, Luxury homes also include docks. Are you prepared for the upkeep required for a boat dock, and is the dock that goes with your luxury home the right size for the boats you own or plan to purchase.

Buying a waterfront property can be a risky investment if you have not done your research.
Before committing to a particular home, follow these steps:

• Visit the land, even if it is undeveloped. Walk around and note every detail. Check out the site plan so you can determine the location of property lines.
• Look at land development in the area surrounding your home. How is land being used in the area and how will it be used in the future? Did the construction of the waterfront development cause controversy?

These tips can help you to assess how sound and financially safe a purchase you are making.

When you make your offer on a waterfront property, consider making it conditional on a professional inspection of the land.

Waterfront homes can be tricky because the ground beneath is affected by factors much different from in-town homes. While you can look over the land, you are not a professional and you do not know what lies beneath the surface.

Ask for a professional who specializes in inspecting waterfront property and make your offer contingent upon their report.

Luxury town homes or condos are a great way to invest in waterfront property without spending big bucks. They’re also a good way to get to know a community before you make a more permanent commitment.

Usually located on the beach, waterfront condos provide homeowners with a tax incentive and the opportunity to purchase a home without the worries of heavy-duty maintenance of home improvement.

Many beachfront developments have a homeowner's association, so get information on dues, covenants and meetings before you purchase your new condo.

Waterfront property usually comes surrounded by a woodsy, wildlife environment. Because of this factor, homeowners do not usually try drastic alterations to the land around their luxury waterfront home.

Wait at least a few months after moving in before making plans to change the land. Get an idea of what kind of wildlife is living around you, how the development in the area around your home is progressing and what you want to do with the property to make it suit your needs.

If you are on in a government-regulated area, be sure and find out if it’s even possible to make changes; in some areas there are strict rules about what waterfront property owners can and cannot do.

In Texas and other Gulf States, luxury beach homes can be dream purchases but they also have the potential to be major headaches. Before you invest in a home located directly on salt water, ask yourself the following questions:

• Do I really want to live with the threat of hurricanes for half of every year?
• Salt air is very corrosive. Am I willing to spend the time and money required for constant maintenance?
• What about the beach itself? Is it stable? Diminishing? In some areas homeowners are required to build back dunes and beaches in front of their homes that get washed away. Likewise, in some areas where the shore fluctuates significantly, there may also be a potential for the saltwater to undermine your home.
• How difficult – and expensive – will it be to get homeowner’s insurance in this area? Insurance costs have risen tremendously since Hurricanes Rita and Katrina. Be sure you are prepared to pay the cost of a new policy – and be sure you know exactly what it will cover.

Despite the potential problems, many people love their luxury beach homes and wouldn’t live anywhere else. If you’re one of these people, go for it! Just make sure you know upfront what you’re getting into.

Many luxury waterfront properties are remote. It is prudent to find out who is responsible for maintaining the road to and from your property. You may find that your bank requires a Road Maintenance Agreement before they will lend you money for a remote, waterfront home.