Having a home near a lake, ocean, or other body of water benefits its inhabitants. These include an ambiance of serenity that can help boost your overall health and well-being.
However, waterfront homes can be expensive to own and maintain. Be sure to factor these costs into your budget before purchasing.
Location
One of the main reasons waterfront homes hold their value well is their location. Whether on a lake, ocean or river, these properties provide breathtaking views and easy access to water-based activities.
Moreover, a waterfront property provides the perfect backdrop for relaxing and socializing with family and friends. Whether you plan to host family picnics or wellness weekends filled with yoga and mindfulness, a waterfront home can be the perfect place to bring people together.
When purchasing a beachfront property like Sister Lakes Michigan waterfront homes for sale, there are a few things to remember. For instance, these properties are more prone to damage from moisture and storms. And they also require special maintenance and upkeep. These properties are often subject to higher property taxes and insurance costs.
Views
Views are one of the key reasons why waterfront homes hold their value well. According to a report by American Home Shield, an unobstructed view can increase a property’s value by nearly 80 percent.
Waterfront views are precious in coastal areas, where the natural beauty of a beach or lake is arguably more appealing than that of a cityscape.
Accessibility is another factor that can also impact how much a waterfront property is worth. For example, a walk-out property that dips straight into the water has a higher access value than a steep driveway that requires several steps to reach the water.
As a result, waterfront houses are often sought after by seniors looking to slow down their lifestyles and take advantage of nature’s calming effects. They can be ideal for relaxing, rejuvenating, and enjoying water-based activities like swimming or kayaking.
Ease of Access
Waterfront homes offer easy access to the lake or other bodies of water. It makes them a popular investment choice for homeowners who love spending time on the water.
Often, waterfront homes have retaining walls that protect the shoreline from encroaching land or erosion caused by salty air. It is essential when sea levels rise.
When buying a waterfront home, it’s also a good idea to check with the property owner’s association and determine the restrictions. It can include rules on painting, fence building and landscaping, and other things you might not expect.
Waterfront Lifestyle
The lifestyle that comes with owning a waterfront home is one of the best reasons why homes overlooking the water are so popular. It is an enriching experience for the whole family and has been linked to improved mental health.
A recent study found that the property value of waterfront homes is more than 80 percent higher than similar homes without a view of the water.
But it’s important to note that living near the water involves more maintenance than other property types. It includes storm shutters and a unique exterior finish to protect against salt damage. Also, be sure to factor in the effects of climate change and rising sea levels when buying a waterfront home.
Privacy
When comparing waterfront homes with other types of properties, the privacy that comes with living lakeside can significantly impact their sale price. For instance, if a home is accessible by walking out of the front door and down a long driveway to the water, its value will be much higher than a similar home that requires a steep walk or motorized tram.
While this may seem minor, privacy is increasingly important in our modern world. With the rise of social media, selfie culture, and location technology, many people worry about sharing and tracking their personal information without their knowledge or consent.
