Looking for Oakville Waterfront Property?
If you are looking to buy or sell a waterfront property in Oakville, you may want to consider a few things when choosing a real estate agent.
You need a real estate agent who has constantly managed waterfront properties and has knowledge of the process. Your real estate agent should help you through the whole process and ensure that you’ve made a wise investment.
Krisztina Neglia is an Oakville real estate agent who KNOWS waterfront property. She has a detailed knowledge of the area and how to close deals that work for everyone.
If you’re looking to buy or sell, here are a few things you may want to consider.
Focus on the Land
Before buying a waterfront property, ensure that you’ve done a proper survey of the land. Most people put more focus on the structure rather than the land. They are disappointed when they realize that it’s difficult to get to the water or the view is not good enough.
Consider Your Lifestyle
Ensure that you choose a property that fits your hobbies or lifestyle. For example, if you are an avid boater, you need to consider the water depths before making a purchase. Depths required for various boats such as power boat, a pontoon boat or a sail boat may differ. If possible, take a boat ride before buying the property.
Ensure that the property is conveniently located to enable easy access to hospitals, airports, schools and shopping centers. Besides allowing you to enjoy your hobbies, the property should make it easy to carry out other activities.
Demand for waterfront property has increased due to scarcity, thereby increasing its value. Make sure that you check your insurance to determine whether you can afford it. In some instances, one may be required to buy various types of policies such as hazard policy, flood policy and wind policy. If you are buying property in a flood or wind zone, it may be difficult to obtain insurance.
Properties on waterfronts are prone to harsh weather conditions and storms. You can expect to grapple with corrosion due to salt air. If you are looking to purchase a home in wind prone area, we advise our clients to invest in strong shutters and stainless steel latches which are resistant to corrosion. We inform our clients of possible waterfront-related problems, before they make any purchases.
Waterfront properties are expensive; therefore, if you obtain a loan, it will be classified as large mortgage. You need to be qualified to obtain this amount of loan easily. Unlike a home loan, this loan takes more time to process.
Find out whether it’s possible to make any changes to the property. You can check with local government agencies to find out if they allow watercrafts and docks. You may also want to find out if you own the shoreline and that there are no laws enabling trespass. We make it easier for our clients by checking with local government agencies and reporting to them about our findings.
Know Your Responsibilities
Every homeowner is affiliated to a homeowners association and has obligations to fulfill; the same applies to waterfront home owners. Find out what maintenance fees will be required from you by looking at their covenants, restrictions and conditions.