Market value of a waterfront home property

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.

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McQueen Park close to Gilbert waterfront communities

McQueen Park has wide variety of activities

If you’re driving south on McQueen Rd between Guadalupe and Elliot, you could easily miss one of Gilbert’s most amenity rich parks, McQueen Park.  With only 500 ft of street frontage on the east side of the street, you will not see the 27,000 sq.ft actiivty center with a 2 acre lake or the sand volleyball courts or tennis courts or soccer fields and ramadas and barqueques. The total complex, park and activity center, covers approximately 40 acres.

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Gilbert Waterfront Homes at The Islands Lake Community

The Islands: Lake community in Gilbert       

The Islands,  a master planned lake and waterfront community with over 400 waterfront homes, is one of Gilbert’s most established lake subdivisions.  Homes in The Islands range from townhouses to custom homes, built mostly between 1987 and 1995, and range in square footage from 1,300 to over 4,800 square feet.  It also has a large waterfront park with walking trails, basketball court, sand volleyball, covered children’s play area and community center.

Within The Islands are individual communities or subdivisions such as Seawynds, Trade Winds, Windhaven, Coral Point, The Shores, Harbor Point, Key Harbor, Tres Vistas and Catalina Bay.   Lakefront residents take advantage of the many long stretches of water measuring over 1/2 mile in length with an evening boat ride.  Internal combustion motors are not allowed.

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