For some it’s the mountains, others the forests, owning their own cattle ranch, or living in the penthouse apartment of a tower block in a major city, but for you and me its that home on the lake looking out over beautiful scenery while breathing in the fresh air. If that is your dream, how can you choose from Waterfront property for sale?
Selecting Waterfront Property for Sale
Your first choice with waterfront property is are we talking oceanfront or lakefront property? Oceanfront property is of course usually more expensive, but actually may not be what you’re after. Oceanfront property is typically closer to a larger city and other conveniences and be in a tourist area. So if you plan to rent out your property and are looking for local employment then this could be a very good option. However, you may be limited by your budget.
On the other hand, lakefront property can be a lot less expensive to purchase, especially if you buy undeveloped land where you can plan to build your own lakeview home. The con here is that lakefront property will tend to be more isolated, with local conveniences and utilities being more basic. You will enjoy unrivalled views though and have that more vacation feel to your property.
Should You Buy Developed or Undeveloped Land?
The second thing to consider when choosing the right waterfront property is whether you should purchase developed or undeveloped land. Undeveloped land will often be cheaper to buy from the outset, but you must factor in time and cost of building. It can take a long time to get building permits for land which is in a location of natural beauty, especially on a lakefront where the water source is used for domestic use. Costs will rise considerably for that piece of land once you factor in building access to the property, having utilities such as electricity and phone line connected, and then in building your property on a secure footing while maintaining your beautiful view of the lake.
Developed property on the other hand already has permits, utilities and home in which to move straight in. You could consider moving into the current property while you build a larger dream property close by on the land. After moving into the new home, rent out the old home as a holiday let.
Your budget may be the determining factor here, but make sure to calculate the cost of the whole project. A local real estate agent should be able to advise you on these things and put you in touch with local contractors to get estimates.
Having Your Dream Home on a Lake or Overlooking the Ocean
Let’s face it, owning a waterfront property is a dream come true for most people, especially if you’re able to live there full time, leaving behind the rat race to enjoy life out in the countryside. But if that’s not an option for you yet why not consider a smaller property as a vacation home?