Buying Waterfront Property: Your Must-Have Checklist
When considering a Phoenix area waterfront or waterview home, did you know there is additional due diligence that must be done since it is not traditional real estate? Check out this waterfront buyer checklist.
Your waterfront property checklist
Waterfront real estate is unique and therefore has additional considerations that must be evaluated. As a potential buyer, let me share with you a checklist of items that would be well worth your time considering. Watch the video below to become more informed:
Waterfront Views - The real reason
When a majority of homeowners have to look at a block wall, waterfront home owners have the luxury of enjoying views while living in a desert. This is validated by the fact that waterfront homes sell for more than their non-waterfront counterparts. Understanding and measuring the width of the waterway is a good way to evaluate the distances. This is explained in the view above. Focusing on the view is one element of the waterfront buyer checklist.
Lake Activities
Waterfront buyers must investigate and understand the activities allowed on the residential lake. They are varied and change with each body of water. Some may restrict any kind of boat or watercraft while others allow canoes, kayaks, pontoon boats, paddle boats and a few allow water ski boats. Buyers must review the CC&R’s and talk to the HOA to confirm that the type of watercraft they are considering are allowed. This should be done within the first 10 days or the inspection period whichever is shorter. Here’s a video that goes into more detail regarding the activities allowed on the lakes:
Residential Lake Water Sources
Another element of the waterfront buyer checklist is understanding the source of the water for the residential lake. The age of the community will be the first indicator. The probability is higher that the water source is well water or reservoir water if the community is older. Reservoir water is water that comes from the Salt River Water reservoirs. The newer lakes are most likely to use reclaimed water. Check out the link at the bottom of this article for more information.
If you’d like me to set up a customized search for waterview or waterfront homes in lake communities, click on this link, Receive waterfront listings.
Would you like to have access to lake community aerial videos, waterfront pictures from around the valley and tips for purchasing waterfront homes?
If so, please click on Receive My Waterfront E-Book that contains by far the most information on lake communities on the internet!
Review the CC&R's and talk to the HOA
The last step should be to review the community document called Conditions, Covenants and Restrictions that will specify what activities are allowed on the lake. And talk to the HOA for any other restrictions that might apply to waterfront property.
for additional information or to answer any questions, please reach out to me at 480-326-8571.
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