Even in this challenging market, the value of waterfront property – at least in most places – has remained high.
But all waterfront property isn’t created equal. Besides a pretty view, here are some other factors a buyer should consider:
· Depth of the water. Buyers who want to dock a boat will see this differently than those who want to swim.
· Location and elevation of the home. Will it be sufficiently protected from bad weather, including hurricanes?
· Who owns the shoreline? Buyers who purchase riparian rights can restrict its use. Buyers who acquire non-riparian rights get non-exclusive use, with the ultimate control belonging to some government entity or, possibly, a neighborhood association.
Source: The Washington Times, Carisa Chappell (09/23/2010)