Things To Keep In Mind Before Purchasing A Waterfront HomeMarch 10, 2022
Things To Keep In Mind Before Purchasing A Waterfront Home
If you have ever spent time looking for waterfront houses for sale in Fort Lauderdale, then you know that it can be an overwhelming task. There are so many beautiful homes to choose from, and the prices vary widely. It is easy to get lost in all details when looking at luxury waterfront homes for sale. Therefore, before you go and purchase a luxury waterfront home in Fort Lauderdale, keep in mind there are some necessary things to look out for.
Location: The location of a waterfront home is one of the most important things to consider. Suppose you are a boater and are looking to dock your boat in the backyard. In that case, it’s imperative to understand things like the canal’s depth, how significant a boat can fit on the deeded dock area, the integrity of the seawall, and access to the Intracoastal and ocean. Many people aren’t aware that there are many fixed bridges along the canals and Intracoastal waterways. A fixed bridge is set at a maximum height and can only accommodate the passing of particular size vessels. If you plan on having a boat that is larger than 30 feet, you want to know if the location of the waterfront property is clear of any fixed bridges.
Get a property inspection: not only is this necessary for one to determine the integrity of the home itself. It also covers the inspection of the home’s plumbing, electrical, roof, appliances, etc. Without a proper home inspection, it’s hard to know what you are buying entirely. In Florida, the real estate contracts are ” As Is” contracts. This means you agree to purchase the home in its ” As Is” condition. That’s why it’s integral to conduct a home inspection to understand the flaws and characteristics that make up the home. It also allows you to negotiate the sale price if the findings during the inspection are outside of what is ” assumed” or ” disclosed” on the seller’s disclosure.
This document is a disclosure of all the known information about the property. The seller, agent, and buyer sign it to show they have read through everything before signing on any dotted lines. For this type of contract to be legally binding, you must ” disclose” or tell your real estate agent anything that could affect the material value of the home. For example, suppose the seller doesn’t disclose that the roof had been repaired due to previous hurricane damage, and the inspection shows evidence of a leaky roof that needs to be replaced. In that case, this could be an opportunity for the buyer to renegotiate the deal on the house. Buyers are allowed a certain number of days, usually around seven, to inspect the home and point out any items they see in the property inspection report that need further negotiation.
Another important aspect to consider when shopping for waterfront homes is the seawall. The seawall is the main barrier that holds the plot of land from falling into the water. Seawalls can be very costly to replace and repair, in some cases up to 1,000 dollars per linear foot. It’s vital to hire an experienced sea wall inspector to ensure the integrity of the seawall. If not, you could end up with a costly fix on your hands that could be prevented upfront.
Condition of the Home: The condition of a waterfront home is essential to consider before making your purchase. Many people think that just because a house is on the water, it must be in excellent condition. Waterfront homes are constantly exposed to the elements and often require more maintenance than a typical home. Make sure you ask your real estate agent about the property’s overall condition and if there have been any recent repairs or updates made to it.
We at DOTOLI Group are waterfront home sales experts. If you have any questions or want to visit our exclusive waterfront listings in person, please email us at [email protected] or call 954.290.4793 to schedule a private showing.