Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Top 10 Tips For Buying A Waterfront Home – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Tue, 22 Mar 2016 11:30:26 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 What Considerations Should Be Made When Buying A Waterfront Property? [caption id="attachment_3800" align="aligncenter" width="450"]Top 10 Tips For Buying A Waterfront Home Top 10 Tips For Buying A Waterfront Home[/caption] Buying a waterfront home is much different than buying a home located on a tree lined neighborhood street.  Buying a waterfront home is not only about buying a piece of real estate, but it's also about "buying" into a certain lifestyle. If you're thinking about buying a waterfront home, first and foremost, congratulations seeing as a very high percentage of people never have the opportunity or chance to buy a waterfront home. Over the past 5 years working as one of the top Rochester NY Realtors®, buyers often ask me how the process works for buying a waterfront home.  It's important that if you're thinking about buying a waterfront property that you truly understand the differences, considerations you should make, and tips you should follow. If you're asking yourself how you should go about buying a waterfront home, read on to find out the top 10 tips for buying a waterfront home.  The 10 tips below will not only help you understand the process of waterfront home buying but will ultimately make the process more enjoyable.

Figure Out Financing Early On When Buying A Waterfront Home

Whether a buyer is purchasing their first home, their fifth home, buying a vacation home, or buying a waterfront home, one of the most important tips is to make sure you figure out financing early on.  Waterfront home buyers need to understand the importance of figuring out financing before shopping for a waterfront property. Some waterfront home buyers will elect to purchase their home with cash, which makes figuring out financing pretty easy.  There still will be a large number of waterfront home buyers who will need to obtain a mortgage to finance the purchase of their waterfront home. When buying a waterfront home, getting pre-approved for a mortgage is critical.  There are some pretty significant differences between a mortgage pre-approval and pre-qualification.  When buying a waterfront home, having a pre-approval is critical since many sellers will be advised by their Realtor® to only accept offers from pre-approved buyers. Another very important reason to figure out financing early on when buying a waterfront home is because the number of waterfront properties for sale is traditionally less than the number of non-waterfront homes, which often leads to lots of competition. Since competition can be fierce when buying a waterfront home, not having your financing in order is a surefire way to lose out on a home in a multiple offer situation.

Hire An Experienced Real Estate Agent

Similar to figuring out financing early on, hiring an experienced real estate agent is extremely important when buying a home in general.  Another important tip for buying a waterfront home is to ensure you hire an experienced real estate agent. One of the best ways to increase the chances that you hire a top Realtor® when buying a waterfront home is to know what questions to ask during interviews with real estate agents®.  Properly interviewing prospective real estate agents is a great way to find out whether or not an agent is going to be a good fit for you or not. Below are some of the most important questions to ask prospective real estate agents when buying a waterfront home;
  • Have you sold waterfront homes in the past?
  • Are you a part time or full time real estate agent?
  • What methods do you use to communicate with your waterfront home buyers?
  • Would you be able to provide past client testimonials and/or contact information from past clients?
  • What services do you provide for your buyers?
  Since buying a waterfront home is different than buying a non-waterfront home, it's important you hire an experienced real estate agent.  Working as a Rochester NY Waterfront Realtor®, the importance to make sure that waterfront home buyers are thinking about the proper things is extremely critical and an inexperienced real estate agent may not point out the considerations a buyer should be taking into account.

Ask Yourself Why You're Buying A Waterfront Home

[caption id="attachment_3801" align="aligncenter" width="450"]Ask Yourself Why You're Buying A Waterfront Home Ask Yourself Why You're Buying A Waterfront Home[/caption] One of the best tips for waterfront home buyers is to make sure that you ask yourself why you're actually thinking about buying a waterfront property.  Since there are many reasons why buyers decide to purchase waterfront property, it's important to decide whether it makes sense or not. One of the first questions that you should ask yourself when considering the purchase of a waterfront home is whether or not you will take advantage of the water.  If you don't see any value in having a home located on the water, it really doesn't make any sense to pay the premium price of a waterfront home. Another important question you should ask yourself before buying a waterfront property is whether or not you truly desire the waterfront lifestyle.  Do you see yourself inviting friends and family over to enjoy the spectacular views of your home and to take advantage of the water?  If the answer is NO, paying the premium price for a waterfront home may not make the most sense.

Keep In Mind You Will Be Buying More Than The Property

It's important to remember when buying a waterfront home, you're buying more than just the actual home.  In addition to buying the actual home, you need to remember when buying waterfront property that you're paying for spectacular views, ease of access to the water, amount of frontage along the water, privacy, and a variety of other things. It's difficult to place a dollar amount on a breathtaking view of the water or the ease of access to the water, however, always keep in mind you're paying for these additional items when buying a waterfront home.

Research The Body Of Water

It's a smart idea when buying a waterfront home that you do some in-depth research about the body of water.  There are certain things you should know about a body of water when buying a waterfront property. If you're buying a waterfront property with the intentions of using having a boat, it's important to find out about the water depths.  Depths for boating can vary significantly depending on the type of boat.  For example the required depth for a sail boat is different than the required depth for a pontoon boat. If you're purchasing a waterfront home with the intentions of using the water to swim, another important piece of information to learn about is the quality of the water.  Learning information such as whether or not the body of water filled with weeds or potentially dangerous fish such as jelly fish is important if you have intentions of swimming in the water.

Find Out If There Are Any Association Fees Or Rules

[caption id="attachment_3802" align="aligncenter" width="450"]Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home Find Out About Association Fees, Rules, & Restrictions When Buying A Waterfront Home[/caption] Many waterfront homes are a part of associations or communities, which can potentially come with additional fees.  It's possible that some bodies of water are even subject to association fees, which is a fee that is passed onto the residents. For example, if you happen to live on a lake, there maybe a lake association that is in charge of ensuring the lakes future is good and also to solve any potential problems.  Finding out about potential association fees is one of the most important things for waterfront home buyers to consider. It's possible that waterfront properties that are a part of an association will also have rules and regulations.  These rules and regulations are similar to the covenants, conditions, and restrictions (CC&Rs) that you commonly see with homeowner associations when buying a condo. These CC&Rs can restrict what a homeowner can do with their property.  Waterfront home buyers need to understand if there are any rules and regulations in place for their property.  The last thing a buyer wants to have happen is they attempt to install a new dock on their property for a bigger boat and there are regulations that limit the size of a dock. The best way to find out whether there are association fees or rules and regulations on a specific property is to have your real estate agent ask the sellers real estate agent.  One of the most important tips for selling a waterfront property is to know what additional fees and/or restrictions a property may have.

Learn About Flood Insurance Requirements When Buying A Waterfront Home

Depending on where a waterfront home is located and the type of financing, it maybe required for a buyer to obtain a flood insurance policy on their property.  When buying a waterfront home, you need to understand what flood insurance is. Flood insurance covers repairs of damages caused by flooding.  It's important to realize that certain waterfront properties are at a higher risk for potential floods than others.  A flood insurance policy for a waterfront property that has a high risk for potential flooding will be considerably higher than a property that has a lower risk for potential flooding. Flood insurance can be very expensive in some instances, therefore, when buying a waterfront home you need to understand flood insurance and the costs that come with it.  To help determine what the cost of flood insurance would be on a property, there are several resources available online. One of the best resources for flood insurance is FloodSmart.gov, which is the official site of the National Flood Insurance Program, frequently referred to as NFIP.  On FloodSmart's website you can find out the most FAQs about flood insurance as well as assess the risk of a property.

Understand The Maintenance Responsibilities When Buying A Waterfront Home

Home ownership comes with maintenance, regardless if it's owning a waterfront home or not.  Waterfront home buyers need to understand that there are different maintenance responsibilities when owning a waterfront home that needs to be completed. The most obvious home maintenance that comes with owning a waterfront home is the importance of maintaining the frontage of the property.  If a waterfront property is located on a body of water that tends to have rough waters, it's possible a homes break wall or docks can get destroyed. Recently while selling a waterfront home in Rochester NY on Lake Ontario, the owner had to make repairs to their break wall due to the rough waters of Lake Ontario.  In many cases, waterfront properties are more prone to potential damage caused by weather than properties that are not located on water. Other waterfront property maintenance tasks that buyers need to consider include;
  • Roof maintenance
  • Deck maintenance
  • Dock maintenance
  • Siding maintenance
 

Don't Skip The Inspections When Buying A Waterfront Home

[caption id="attachment_3803" align="aligncenter" width="450"]Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside Don't Skip Various Inspections - 10 Tips For Buying A Waterfront Home Inside[/caption] There are way more reasons why having a home inspection is smart when buying a waterfront home than there are to skip the inspection.  An obvious tip, but one that cannot be overlooked, for buying a waterfront home is to NOT skip the inspections.  There are very few circumstances that would warrant a buyer skipping a home inspection on a home. First and foremost, since water can create huge problems for a home and since a waterfront home is located near or on water, it's important an inspector makes sure there are not any water intrusion issues with the property.  While it's possible there maybe no water issues in a home, the minimal expense of a home inspection is well worth the peace of mind it provides a buyer. Another popular inspection to consider when buying a waterfront home is a septic inspection, if the property is not hooked up to public sewers, which many waterfront homes are not.  A fault septic system can cost a homeowner thousands of dollars to repair or replace, so if a waterfront home has a septic system, have it inspected!

Talk With The Locals

Waterfront communities and the residents are often very close with one another.  A great tip to follow when buying a waterfront home is to consider talking with the locals. A waterfront home buyer can find out pretty quickly about the area by having a quick conversation with a neighbor or two.  The residents in a waterfront community can share some insight into potential problems in the area and also into the positives of living in the area.

Final Thoughts

As you can see, buying a waterfront home is much different than buying a three bedroom ranch on a neighborhood street.  There are several considerations that waterfront home buyers need to take into account before buying a waterfront home. By following the above 10 tips for buying a waterfront home, you give yourself a huge advantage over buyers who do not know what advice they should be following during their waterfront home purchase.

Other Top Resources For Buying A Waterfront Home

Are you interested in buying a waterfront home in Rochester, NY?  If so, the above 10 tips should help you understand some of the important considerations to make when buying a waterfront property.  If you're buying a waterfront property in the Greater Rochester, NY area or Finger Lakes and don't have a top Realtor®, contact me.  I'd love to share my expertise with you and help you with the process of waterfront home buying!
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!:Delivered by FeedBurner
About the authors: The above article "Top 10 Tips For Buying A Waterfront Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.]]>