Owning a lakefront property is a lifelong dream for many people, and it can be a wonderful investment. However, owning a house near a body of water requires significant responsibility. If you're looking for your dream waterfront house for sale, consult the list below to learn what to consider before making the investment.

What to Consider Before Buying Waterfront Property

1. Recreational Rules & Regulations

Some bodies of water are governed by tight regulations that dictate recreational activities and development along the shoreline. For instance, you may need a license to fish or operate a boat on the water, and may not be able to do the renovations unless you seek approval from the local government. However, getting approval for such licenses and permissions is usually not problematic as long as you follow proper application protocols and disclose all intentions for construction or development right away.

2. Bulkhead Maintenance

The bulkhead is the wall between the home and the water. Normally, these structures are made of earth, but some areas use concrete bulkhead construction. The local government may take charge of maintaining the bulkheads, but sometimes individual homeowners are responsible. Make sure to inspect the bulkhead when viewing a waterfront property and ask the real estate agent if the homeowner is responsible for maintenance so that there are no surprises if you end up purchasing the home.

3. Flood Insurance

Any waterfront property is vulnerable to flood risk, so ask about mitigation measures the previous owners or the city have taken. For example, some waterfront properties have backup sump pumps to help remove water from flooded basements, while other homes are raised. 

Additionally, adding a flooding protection plan to your homeowners insurance can help recover damaged items. Make sure to add flooding to your policy for the best protection. 

4. Boundary Lines

Many waterfront houses for sale were developed as plats, which are drawings of how the original property owner divided the land. However, the lot may not match what the original plat intended, so there might be some discrepancy between the legal description and how the property looks. Having a boundary survey completed before closing allows you to plan developments and improvements without infringing on a neighbor’s property.

If you’re ready to make your dream of lakefront living come true, EXIT Realty Nexus has the expertise and market knowledge you need. Their agents can show you an array of waterfront properties throughout the Coon Rapids, MN, area. They can answer all questions about waterfront maintenance and living. Visit their website now to browse houses for sale or call (763) 548-1400 to speak with an agent.