Enjoying private access to Tampa Bay or the Gulf of Mexico is the primary motivator for buyers seeking a waterfront property. It’s important to consider how you intend to use your waterfront. For boaters, evaluate the moorage at the property. Is the water deep enough for your particular type of boat? Is there a boat lift or a marina nearby? If you have jet skis, kayaks or paddleboards, is there a place to store them?
Another important factor in waterfront living is the view. Does a morning sunrise with your cup of coffee or tea excite you or do you prefer sunsets? In general the west-facing waterfront is preferable but also consider the full one force of the sunset.
When looking for waterfront property in Florida, it’s all about the location and the view. Property value on water is higher but a premium sunset view is the ultimate! You can always renovate the home, but you cannot change the location. The proximity to the water is important here in Florida. The main concern is the flood elevation. As of 2018 the flood elevation must be over 9’ in order to get a price break on flood insurance.
Waterfront properties are subject to a whole new set of rules and regulations from the local, state and federal agencies. If the property requires a new dock or bulkhead, it’s important to know that this can be a very challenging process given the multiple government agencies involved. These limitations are likely to get even more restrictive in the near future as the shoreline regulations are being updated. A renovation involving an extension of the home will require additional analysis due to FEMA so make sure during your 15 day inspection period to hire an architect to do a feasibility study.
There are many townhomes and condos on the West Coast of Florida which will involve “shared” waterfront. Know your rights. Some shared waterfront properties have a specifically deeded boat slip, though many others share an interest in a community dock. The master association documents should have this information.
Having a Waterfront Lifestyle is a life-long dream for so many people. Especially here in Florida. It is a significant financial investment and very unique type of real estate. For this reason, it is critical to engage professionals who understand the complex issues inherent in waterfront properties. Equipped with the right expertise, guidance and knowledge, you’ll be ready to turn to your waterfront dream into a reality. Make your “someday” happen today!