Deciding to make a move to a waterfront home is a big decision. There are things to consider that a homeowner wouldn’t have to consider when looking for a home that is landlocked. If looking to move to a home on or near the water, we have curated a short-list of where to look around New York State and included some tips for buying on the water.
Check out these towns where waterfront properties are on the market right now:
This eclectic list of towns range from Upstate New York to 30 minutes outside of New York City, and carry very different price tags. We understand that buying a waterfront home sounds like a dream, but do your homework since there are several considerations that you should be aware of. Here are just a few of the things to consider when buying a waterfront home:
- Higher Costs: Waterfront properties often come with a premium price tag compared to similar homes located further inland. The cost of purchasing and maintaining a waterfront home, including insurance, taxes, and upkeep, can also be significantly higher.
- Insurance Challenges: Insurance for waterfront properties can be more expensive and more complex. These homes are often at higher risk of damage from floods, hurricanes, and coastal storms, necessitating specialized insurance coverage which can add to ownership costs. Shop around to get the best quotes since insurance pricing can vary significantly.
- Maintenance Intensity: Waterfront homes typically require more frequent and specialized maintenance due to exposure to saltwater, humidity, and harsh weather conditions. This includes regular painting, sealing, and upkeep of docks, decks, and seawalls to prevent deterioration.
- Environmental Factors: Living near water exposes the property to environmental challenges such as erosion, water quality issues, and potential hazards from marine life. These factors can impact the property’s condition and require ongoing monitoring and mitigation efforts. Costs will vary depending on how close and what type of body of water you choose to live on.
- Regulatory Restrictions: Waterfront properties are often subject to strict zoning regulations, environmental protections, and permits for shoreline development, docks, and other improvements. These regulations can limit what you can do with the property and add complexity to renovations or expansions. If you found a location of where you want to buy on the water, stop by the Town Building Department and ask questions.
- Privacy and Noise: Depending on the location, waterfront homes may be subject to noise from watercraft, nearby public beaches, or recreational activities. Privacy concerns can arise, especially during peak tourist seasons or holidays. Tour the house during peak times to access the level of noise.
Understanding these cons and conducting thorough due diligence before purchasing a waterfront home is essential to making an informed decision. While the lifestyle and beauty of living on the water can be appealing, potential buyers should weigh these factors carefully to ensure they align with their financial, practical, and lifestyle goals.
