Everything You Need To Know About Buying A Waterfront Home

A dream. That is what many people see purchasing a waterfront home as, but what if it could become a reality? Yes, you too could take weekend breaks overlooking a lake, hand out by the beach, fish, or even boat in your spare time! Of course, before you spend your hard earned cash, you’ll need to know as much about lakeside property as possible. Something that the post below can help you with.

Do consider your journey distance

Most people buy a waterfront home as a vacation residence, and it can be easy to get carried away when you see a gorgeous location. However, before you sign on the dotted line, it's cruel that you consider how practical a site it will actually be.

After all, if you are having to travel over 3 hours in your vehicle just to get there, it may be tough to get the use out of it on weekends you would like. It can also cost a fair bit in gas as well, so if you are looking for a more budget-friendly option, then a waterfront site closer to home may be in order.

Don't forget to consider the weather in the areas you are looking at

For waterfront properties, the weather that you can expect is a crucial factor to consider. After all, the time you get to spend sampling the local seafood alfresco, will be mostly dependent on this.

Also, remember that the weather may dictate whether you have an issue with pests or other unwanted wildlife that could prevent you from enjoying your investment.

To that end, researching the climate, and temperature, as well as rainfall you can expect each season is a must before you go to view any waterside property in real life.

Do run custom searches for the type of property you want

When looking at waterfront properties, it can be beneficial to compare real estate listings before you decide to visit and see if the place is right for you. In fact, good realtors will be able to run customized searches that make finding a property with the exact requirements you need even more straightforward. Something that can really cut down on travel time you will need to dedicate to visiting each property, one by one.

Don't ignore any additional fees you may encounter

Life down by the water, may not always be plain sailing! In fact, owning lakeside poetry can incur quite a few additional costs, and it's best to be prepared for these ahead of time.

Firstly there are the licenses that you may need including boating, fishing even hunting. Additionally, don't forget that waterside properties are often much more vulnerable to damp and weather damage, and sometimes require additional work to ensure they don't succumb to subsidence as well. The latter being something that can be a common problem around waterfront locations.

To that end, getting a proper survey done before you buy and maintaining an emergency budget just in case the worse happens, is a smart move if you are looking to pursue a cabin or home that is close to the water.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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New Record Sale in Rockland County - $5.2M in Upper Nyack

For those looking for homes out of the city, we’ve just got word of Rockland County’s highest priced single-family home since 2013, and the county’s second highest price for a single family home for the last ten years. The Hudson Riverfront estate at 641 North Broadway in Nyack has closed for $5.2M, surpassing the $5.1M sale of Rosie O’Donnell’s Nyack estate one year ago. The sale occurs as average and median single-family home prices hit new highs. 

Courtesy of Vinny Garrison

One of the largest privately-owned properties on the west side of the Hudson, the park-like estate sits on 6.42 acres in what was a sandstone quarry in the 1800’s and has a written history back to the Revolutionary War.  The 4,488-square-foot, five-bedroom, three-bathroom (one half bath) modern estate has 723 feet of Hudson River shoreline, a private boat dock, a sandy beach, and an in-ground pool. The luxurious home has 30-foot ceilings with walls of glass overlooking the Hudson River and Hook Mountain, antique barn beams, blue stone floors, and finishes of cedar and stone.

“Rockland County continues to offer an exceptional opportunity for buyers looking for space, amenities, natural beauty, and proximity to New York City,” stated Laura Weintraub, the property’s listing agent.

Photo Credit: Maksim Akelin

Photo Credit: Maksim Akelin

Photo Credit: Maksim Akelin

Photo Credit: Maksim Akelin

Photo Credit: Maksim Akelin

Rockland County median sale price was $460,000 for 2018, up 4.5 percent from $440,000 in 2017, and up 10.8 percent from $415,000 in 2009. Nyack median sale price was $605,000 for 2018, up 17.5 percent from $515,000 in 2017, and up 34.4 percent from $450,000 in 2009.

“Buyers recognize the diversity of options from living in-town to more rural properties with home styles ranging from modern to antique and everything in between. As home prices rose and inventory stayed tight in 2018, we saw a significant increase in our business.  This prominent sale is the perfect start for 2019.”

Other single-family Rockland County home sales over $5M include the 2013 $6.25M Georgian estate at 649 North Broadway in Nyack, built in 1900; the 2015 $5.05M 30-room castle at 1 Castle Road in Piermont, built in 1892; and the 2018 $5.1M Rosie O’Donnell renovated estate at 1 Gesner Avenue in Nyack, built in 1906.  In 2005, 23 Ludlow Lane sold for $5.5M, and 235 Broadway (aka “Pretty Penny” also sold by O’Donnell) closed for $5.85M.

The home was listed by Laura Weintraub of Weld Realty.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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