Waterfront Property - Which Type?
Many people like the idea of buying waterfront property, with
a home or to build a home on. But there is more than one type
of waterfront. Which type is right for you may not be as obvious
as you think.
Ocean-Front Property
The classic waterfront home is the big place on the ocean.
Many of us would like to walk out our door onto the sandy beach.
Of course, this is not only the most expensive way to get waterfront,
but it perhaps the riskiest as well. Homes along the ocean often
face damage or even complete destruction from storms. And in
addition to being expensive to buy, they tend to be very expensive
to maintain and repair.
Lakefront Property
Lakes are not usually as risky as the ocean, although a home
on big water like Lake Superior or Lake Michigan can be damaged
by erosion and storms just like ocean-front houses. But even
the big lakes are safer than the oceans for swimming and boating,
if that is in your plans. And Lakefront houses are almost always
cheaper than ocean-front ones.
Waterfront Access
Some properties are near a lake or ocean, and come with a
common area that is accessible to all owners in a given subdivision.
Though walking across the street or down two blocks to get to
the water is not quite the same experience as having it outside
your backdoor, there are advantages to this kind of home. First,
you will pay less than if you have direct frontage. Also, because
you are not on the water, the potential for storm damage or erosion
damage is less. The beach itself may suffer erosion, but your
home will be safe.
Riverfront Property
A home on a river is a very different sort of waterfront property.
You don’t generally have big waves, and though boating opportunities
may be limited, you can fish without a boat. This is also one
of the cheapest types of waterfront property you can buy in most
areas. Just be sure that it is a river that does not normally
flood, or that your home will be above the floodplain.
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