Waterfront home incremental market value
I received a call from another agent asking what the incremental market value was of a waterfront or lakefront home versus a similar home not on the water. In many of the tax records, it discloses a premium paid by the original owners. The initial lot premium for a waterfront lot charged by builders in The Islands and Ocotillo Lakes might range from $30,000 – $45,000, which represented more than 10% of the initial home cost. While the builder was able to charge a premium for the lakefront lot, it would be interesting to know how the resale market values a waterfront home.