Like any property purchase, location, location, location also holds true when shopping for a coastal real estate. One of the first things you should consider when investing in a waterfront home is still a location that feels right for your family. If you can, visit your prospect areas not only during vacation months but also during other times of the year, especially when planning to move to the coast. As much as having an oceanfront home is a great time, it is still important to find a community that you will love. This way, you can make your choice easier by focusing on area or at least a couple of areas that feel right.
Location is also such a crucial consideration because when shopping for a coastal real estate, the focus should be on the property rather than the house. Unlike with inland properties where real value lies in the house and not so much the land, almost the entire value of a waterfront property lies in the land. Just the same, not all coastal properties are created equal, which is why it is important to look into certain factors when making your decision:
- Most lakefront properties in Maine have the unique advantage of being perched on sandy beaches, which makes for a much more pleasant experience for the entire family, especially when there are seniors and kids who need easy access for entering the water.
- Another aspect to look into when gauging the value of a waterfront property is the view. This is especially true for aging homeowners who are becoming less active and would prefer a place to sit back and watch the sunset over a nice ocean view.
- The flatter and more level the lot is, the better, not only for construction purposes, but also for easier access to the beach and the water. Many lakefront lots may be too steep, making it difficult to go up and down the water.
- Another important thing to consider is the property’s proximity to water. Homes built from the 1990s to the present have been required to be at least 100 feet from water, but there are still properties that are a lot closer to water and wildlife.
- Privacy is yet another crucial factor to consider when trying to figure out how much water frontage you want for your property. A hundred feet starts to give you a good deal of privacy from neighbors.