Living by the water sounds dreamy, doesn’t it? But before you dive into buying a waterfront home in Canada, there are important factors you should consider. From hidden costs to safety measures, here are five essential things every prospective waterfront homeowner should know.
The Water is not Included
Purchasing a waterfront property is similar to obtaining a house and a portion of the waterside for the price of one. The catch is that, although you are the legal owner of the land on which your home is built, you are not the legal owner of the water.
Consider the water as a distinct entity, similar to a neighbor with whom you share a fence. Only the portion of the land up to the so-called high-water mark is within your possession. This border delineates what is and is not yours, much like an invisible line.
It’s important to realize this since it requires you to share the water with everyone else. You have no control over what occurs in the water beyond your property line, any more than you have over what your neighbor does on their side of the fence.
To provide equal access and safeguard the environment, laws and regulations are in place. Building docks, boathouses, and other facilities near the waterfront are all covered by these regulations.
In this regard, it is crucial to hire a top real estate agent conversant with Waterfront or luxury property when buying into such real estate.
Can I Dock or Not?
Let’s now discuss docks: those useful, water-extending platforms where you may tie up your boat or simply relax and take in the scenery.
Docks may seem like a need for any waterfront home, but not all locations let you construct one. It is important to research the local dock laws and regulations before settling on a specific property.
Docks may be allowed, but there may be limitations on their design, location, and size. For instance, some regions might only permit floating docks, while others might call for fixed buildings.
Rules may also apply to how your dock should be anchored and how far out into the sea it can be extended. These rules are in place to safeguard swimmers’ and boaters’ safety as well as the environment.
Make sure you know what’s permitted and what isn’t when it comes to putting a dock on your waterfront property before you sign on the dotted line. Knowing in advance is preferable to being let down later.
Protection From Storms
Although it can be lovely to live near the ocean, doing so exposes your house to the weather, particularly during storms. Coastal regions are vulnerable to erosion, flooding, and strong winds, therefore making appropriate protection measures an investment is essential.
Seawalls, breakwaters, and other types of coastal protection may be examples of this. In order to protect your investment from future catastrophes, be sure your insurance policy includes coverage for damage caused by water.
The Upkeep
Compared to residences inside, owning a riverfront property frequently means higher maintenance fees. Due to exposure to moisture, salt, and wind, being near water can cause structures to deteriorate more quickly.
Maintaining the integrity of your property requires routine work, such as painting, sealing, and fixing shoreline buildings. Before you buy a beachfront property, make sure your budget allows for these increased maintenance costs.
Recommended Real Estate Agent to Work With
Purchasing a home can be challenging in any situation, but purchasing a waterfront property raises the stakes.
It is crucial that you choose the best real estate agent to guide you through the process because of this. I wouldn’t want you to go through these dark waters by yourself!
You need someone who is knowledgeable in waterfront homes, first and foremost. Seek an agent with particular knowledge of these kinds of properties.
They will know all the ins and outs, from comprehending the local laws to being aware of potential hazards like erosion and water quality issues.
Local expertise is essential. You want an agent who is as familiar with the area as possible; they should be able to tell you everything from the greatest places to fish to which neighborhoods flood after heavy downpours.
Additionally, they will have contacts with other experts that you may require, such as insurance agents that are aware of the particular hazards or waterfront property specialists.
Final Take
In Canada, owning a waterfront property offers unmatched beauty and peace, but it also presents a unique set of issues and difficulties.
Understanding the nuances of owning a waterfront property, such as insurance, upkeep, property rights, and rules, will help you make wise choices and make the most of your little piece of paradise. Take some time to carefully consider these important aspects before moving further.
