As I was sitting here today, I starting thinking that Realtors need to inform people who buy waterfront homes about the additional costs associated with waterfont property.
I know many of my friends have been shocked with the maintenance of living on the water. (Okay, I know this picture isn't anywhere near Queen Anne's County or a waterfront home, but I was trying to get your attention. It's really a picture of Niagra Falls, I took the pic last year-so pretty).
Back to why waterfront property owners need to know this:
1. There is the homeowner’s insurance premiums-- they will be higher, perhaps significantly so, due to being on the water with its inherent risks. And some insurance companies will not even insure waterfront property.
2. There is also, the possibility of erosion during a hurricane or any other natural disaster. With that is the general maintenance, plantings, and erosion measures such as bulkheads which, may be necessary. Bulkheads are VERY expensive and it may be quite difficult to obtain permits for them, or take years to be issued, depending on the planning and zoning process in the county.
3. The impact of storms, wind, sun and moisture which can damage the walls, roof and windows. The sun can do prolific damage to interior fabrics on furniture and floors (carpet, hardwood) over time.
And don’t forget to inform them that, they could be bound to conservation and environmental issues, and/or zoning codes. So, if they decide to add on, or build a pool------- there’s the possibility, that they may not be allowed to do anything without a variance or permits.
And all of this, is not cheap.
