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Waterfront Lot

Are you considering purchasing a waterfront lot for either a dream house or a business? There are many details that need to be considered before making an investment.

The location of a prospective lot is the first criteria to consider. But before purchasing the property, it is important to find a local real estate agent whose specialty is waterfront properties and who knows the ins and outs of this complex process. It will be probably one of the smartest moves you can make. Each state and many towns have very specific ordinances and rules regarding waterfront properties. The average real estate agent won’t necessarily have the detailed knowledge of them and you may end up with a waterfront lot that really is not the right fit for your needs.

A waterfront lot is just the location. All states will have regulations that cover the use, improvement, and development of  waterfront lots. Know what those regulations are for your specific area. This is a major investment and it is not the time to throw the dice, figuratively speaking, as you might at an online casino usa website, and hope for the best. Just as savvy gamblers consider the odds of winning when placing a bet or playing a hand, property buyers also must educate themselves and understand the risks and benefits of a waterfront property purchase.

Typically most buyers are planning on building a structure on their lot. If you want to make any changes to your waterfront property, such as adding a dock, a boathouse, or perhaps tearing down the old house and building a new, find out what is permissible and obtain all the necessary permits. You may be surprised at all the restrictions and building standards. For instance in Florida counties and municipalities have imposed their own setbacks from the Atlantic Ocean or Gulf of Mexico to limit the seaward location of residential structures even though the Florida Legislature has established the 30-year Erosion Projection Line. Buyers of waterfront lots are advised to have the location of this 30-year Erosion Projection Line surveyed prior to purchase particularly if they are planning on building a house.

Even if you decide that you want to keep your water frontage in its natural state and just create a rustic campsite for instances, instead of building a house, you most likely will find established regulations- even regarding the cutting and clearing of the vegetation! For instance in Maine private campsites are subject to the following standards:
•    only one site per 30,000 square feet of lot is permitted
•    tents, recreational vehicles, cars, trailers, etc., must be set back 100 feet from a Great Pond, or river flowing to a Great Pond, and 75 feet from other water bodies
•    no permanent foundation, except for a gravel pad, is allowed;
•    clearing in the Resource Protection District is limited to 1000 square feet
•    approval of the method of sewage disposal is required from the Local Plumbing Inspector
•    if the camper, tent, vehicle, or shelter is on-site for more than 120 days of the year, residential structure and sewage standards must be met.

Look into loans early if you are considering bank assistance in your financing. If you are considering a jumbo loan, banks tend to take much longer to approve them  versus a normal loan. And don’t forget learning about what type of waterfront insurance is available. Property insurance can be costly and expensive depending on where your waterfront lot is located.  If it is on a river’s flood plain, some insurance companies will simply turn you down or will charge a premium rate. Planning on building your dream house on a waterfront lot in Florida?  Many waterfront property owners buy three different policies: wind, flood, and general hazard to protect their investment.

If you are looking at water frontage on a lake, make sure you find the lake property that best matches your expectations and desired lake experience. Some lakes ban all motorboats, which would be a problem if you were planning on being able to water ski and zip around in a powerboat or jet skis. Observe the lake’s culture and character. Whether you are looking for privacy, a quiet retreat to enjoy nature and its scenic beauty, or a body of water that allows for all sorts of actives, there will be fewer conflicts if all your neighbors share a common vision for the lake.

An investigation of waterfront lots will reveal their benefits and limitations. And be sure to familiarize yourself with Federal, state, and local laws that will affect you as a waterfront property owner before you buy. A knowledgeable local waterfront real estate agent can help you, but being an educated buyer will allow you to ask the right questions and eliminate a lot of inappropriate options.

If you would like to list your waterfront property on this site, visit WANT TO ADVERTISE? and let us know about your property. Early adapters will be posted by invitation only, but all requests for consideration will be accepted.

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