Waterfront Living: The Advantages and Disadvantages
Waterfront living is a lifelong dream for many people. Living near the water has many advantages as well as disadvantages, so you should be prepared if you want to find out if it is the right lifestyle for you.
Houses near the water are always in limited supply and they are more desirable, hence they will retain their value longer and may be considered as a good investment.
There is a level of peace and tranquility that you cannot find anywhere else. The sounds, the smells, the air all bring you a peaceful level of calm.
You can have some spectacular views regardless of the weather.
Waterfront homes offer you a higher level of privacy. Rather than staring at another home, you have beautiful sunsets and sunrises. You can also rest assured that new properties will not pop up overnight, or in close proximity.
You are close to many water activities, which can be a lot of fun and lead to a healthier lifestyle.
There is increased exposure to natural risk, as sea levels can rise, storm surges can erode shorelines, and properties are more susceptible to wind damage.
Insurance premiums are typically higher and in some cases, expensive flood insurance may be required.
Waterfront homes may require more maintenance due to the humidity, dampness and salty air that can impact the exterior of the homes.
Water can also be a breeding ground for insects and other animals, which can be a nuisance.
If you don’t own the land at the edge of your property, the public may have legal access to your shoreline. This can impact your privacy and your home can be vulnerable to theft and vandalism.
To learn more about Virani Real Estate Advisors or to discuss a property, contact us, visit one of our offices, or call 604-913-1000.