The Florida waterfront is one of the most sought-after locations. From Miami Beach to Palm Beach County there are lots of waterfront properties available for you to buy. If you are, however, looking to buy a waterfront home in Florida, there are some things you should know:
1. The land may cost more than the building
There are many situations where the waterfront property is not worth a lot, but because of the scarcity of land in that area, the price may still be high. A lot of times, the ratio of the value of the land to the total property value could be very high.
2. Choose a real estate agent that understands the waterfront market
In Florida, not all real estate agents know their way around buying waterfront properties. You should make sure that the agent has experience dealing with waterfront properties, boat properties, and beachfront properties. These usually have a set of peculiarities that your agent should be able to navigate.
3. Check out home loan offers early
Because of the high prices of waterfront homes, be sure to discuss with your bank or lenders early enough to know what it would take to get a loan to assist you in getting the waterfront home of your dreams.
4. Insurance may be higher
Because of their unique location, waterfront homeowners in Florida need to have three different insurance policies to ensure that the property is safe. These include a wind policy, general hazard policy, and flood policy. You can decide to use the same insurance firm for them all or choose from different companies to get better prices. Shop around for the best insurance rates.
5. Discuss with neighbors before taking the plunge
What are the common issues? How is the area affected by inclement weather? Who lived there previously? Anyone who has lived in the area for several years will tell you everything you need to know that is not in any book or community handout.
6. Check for boating regulations
You should confirm if you can use your boat in the area. Also find out what kind of vessels are allowed if they are at all, what the requirements are, and anything else you may need to know before making a decision. Imagine if you spent all that money buying a waterfront property and had nowhere to put or use your boats.
Make sure your real estate agent is aware of your coastal real estate needs so they can find you the best properties in your area.
About the Author
Natalia San Filippo
Greetings from beautiful Naples Florida! Having grown up in Siberia, in a challenging environment I have a deep appreciation of our wonderful Southwest Florida climate and lifestyle. The journey that led me here has fueled my drive to be the best at everything I attempt. My natural enthusiasm for my work is contagious, and clients know that I am "giving my all”. My deep dedication to my family that includes my two adult children and my four fabulous grandchildren. My family reminds me every day that considering family first in one’s life requires an exceptional "home base” for everyone to gather for events and holidays. Everything in my life has equipped me to be a fabulous realtor at Premiere Plus Realty. Naples is cosmopolitan and international harmonious environment, positive energy and lifestyle. As a certified yoga instructor, I believe in and understand the importance of balance in one’s life. It’s through my yoga practice that I have achieved peace and harmony in my life. It’s this peace, harmony, and enthusiasm that I wish to pass to my clients. My goal is to continue to serve you!!! It is my mission! It is my goal! Let’s get to work together! Natalia Realtor, specializing in Residential sales, New construction, seasonal rental, VA homes, First home buyers, listings, sales. Member of Miami and Stella MLS. I service Naples, Bonita Estero, Marco Island & Ft. Meyer's as well as SW Florida. I appreciate referrals and I help with referrals in other States.