You likely already know that buying a home is a complicated process. Yet when you are looking to add “waterfront” to the type of home you’re purchasing, the process is bound to get more complex. Suddenly, new types of insurance, restrictions on vessels, and even the effects of Mother Nature have to be thought through. Fortunately, we’ve got some advice to help you navigate it all. If you’re considering purchasing lakefront real estate in South Carolina, our in-house real estate experts offer the following tips before you begin so you know what to expect.
Find an agent who’s a true waterfront specialist
The agents who regularly deal with waterfront properties are the ones who know the ins and outs of the process. Unfortunately, not all agents have that kind of detailed knowledge about waterfront properties.
For example, you might find a great deal on a property you believe is right for you. But until an expert in lakefront property looks at the home, you may not be aware of the underlying issues that made it such a steal. Finding a lakefront property agent from the start can help prevent frustration from issues that may arise further down the road.
Custom Home by Total Quality Home Builders & Waterfront Properties
Consider the property more than the structure
You want to love the home you’ll be living in, of course. But when purchasing lakefront real estate in South Carolina, you need to remember it’s every bit as important to fall in love with the entire property, not just the home.
When exploring property options, you’ll want to look for things like accessibility to the water, potential waterfront views (or lack of them), how much privacy it offers, and even water clarity for swimming. Keep in mind: you can change the house; you can’t change the location. Make sure it’s the property you love first.
Choose a property that fits your lifestyle
If you’re the outdoorsy type who wants to make the most of lakefront living, you may be content with finding a home that’s far away from everything. However, if you’re the type who loves culture, going out to dinner, or visiting an art museum, and your home is an hour from those amenities, you may want to avoid those away-from-it-all type properties. Look at the locations that best match the lifestyle you want. Getting away has its perks as long as it doesn’t interfere with the life you love. In other words, focus on the activities you’re most passionate about, then choose your property accordingly.
Custom Home by Total Quality Home Builders & Waterfront Properties
Make sure the structure can withstand the weather
Waterfront homes take on a lot of abuse from the elements—much more than the average home. You’ll need to take extra measures to protect them. For example, storm shutters are typically installed for homes in wind-prone areas, and often, builders use stainless-steel locks to prevent corrosion. Keep in mind that waterfront properties are built to minimize risks and are often found on sites that are going to survive no matter what Mother Nature throws at them. Your own awareness is key to ensuring your home can continue to withstand the elements.
Insurance can be costly and complicated
Different locations often have different insurance requirements, so make sure you get in touch with your insurance company early to know what you’re getting into. As an example, waterfront homeowners in Florida are required to purchase three policies—one each for wind, flood, and general hazard—and these aren’t always offered through the same insurance company. Your agent can help you make sense of it all.
Find out what you can do with the property
If there are restrictions on a property or the home, you’ll want to know before you commit to a purchase. Some areas have restrictions on jet skis, speedboats, and other watercraft, and if you have your heart set on those types of activities, you’ll want to know that before making an offer.
Also, adding a dock if one isn’t there already may be a complicated process if a government agency needs to get involved. If you want to truly make the home your own, make sure you can make any changes to it before you commit to making what will likely be an expensive purchase.
Custom Home by Total Quality Home Builders & Waterfront Properties
Talk to neighbors
One of the smartest ways to get insider knowledge about the community is to chat with current homeowners. They may have some understanding of the property you’re considering purchasing. Don’t be afraid to ask if there are issues with the property you’re considering and if there are any waterfront-related problems. It will be worth it to find out what your potential neighbors know.
Look into utilities early
If you’re considering a rural property purchase and are used to the convenience of suburban life, just make sure to investigate the issues that might come up. Your electricity, water systems, and even cable and Internet may not be readily available at a rural property. You’ll want to investigate your options to ensure your expectations are met.
Understand your responsibilities as a waterfront homeowner
Lakefront real estate in South Carolina is often part of a Homeowners Association. As is the case with other HOA properties, you’ll likely need to follow certain requirements on the upkeep and maintenance of your property. Know what you’re getting into by reviewing the conditions, covenants, and restrictions (CC&Rs), or talk to the HOA’s management company to get a clear picture of the requirements.
