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Three Things You Need to Consider Before Closing on a Waterfront Property

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When you envision a new home for you and your family, you probably imagine a large, expansive home with high ceilings, up-to-date furnishings, a massive kitchen fitted with the latest appliances, and the most exquisite flooring and lighting any house can have.

While you may not think that this dream can become a reality, the truth is that it can, if you allow yourself to spend a little extra on the right home. You could also look at waterfront luxury homes to add to your vision’s aesthetics — you could be living right on the beach in your dream house.

But when you are buying waterfront property, there are a few more considerations you have to keep in mind. Buying a new home from a builder in-land doesn’t require as many minor details, because there usually isn’t a large body of water to contend with.

Here are some things you will want to consider when buying waterfront luxury homes.

  • Flood Insurance. The proximity to the water is one of the benefits of luxury waterfront homes, but this can also become an expensive indulgence. Most mortgage companies require you to seek out flood insurance in case of high tides or storms. This may cost you up to $10,000, and in some cases, you will have to produce these funds up front.
  • Length of Stay. If this home is merely a second home or a vacation home, you won’t want to spend too much on building it. A seasonal vacation doesn’t warrant spending hundreds of thousands dollars on a part-time home. But if you do move there permanently, you will conversely want to make sure the entire house is fitted with all the luxuries your family needs, and all the amenities that will sustain your lifestyle.
  • Privacy. Most waterfront properties require at least a 100 foot distance from the shoreline, but you may want to consider pushing your house back even further. It is incredible to be close to the water, but if the beach is a fairly public one, you may not get the privacy you need. You will have random beach-goers gawking at your place while you’re trying to enjoy an evening outdoors with your family.

So before you set out looking for luxury waterfront homes for sale, be sure to nail down all the details. It will save you money and time in the long run. To learn more, read this:

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