Tips for Buying Waterfront Property

Chatham-Kent is filled with beautiful lakes, bays and rivers. Which means, of course, that there is no shortage of waterfront property. Potentially, your dream waterfront property real estate listing is out there already. But how do you make sure your piece of waterfront real estate in Chatham-Kent is meeting the needs you set out for? And how do you assure you're not buying a money pit? With a little research, and guidance from a local Chatham Ontario real estate agent, finding the perfect waterfront home or property in Chatham-Kent won't be rocket science. If you're ready for a larger price tag, and a few unique challenges, then it is time to delve a little further into the do's and don'ts of buying waterfront property in Chatham-Kent.

Do I Want Lakefront or Riverfront?

With so many spectacular waterways including the Thames River, Mitchell’s Bay, Lake Erie, Lake St. Clair, and the Sydenham River, all running through or around Chatham-Kent, finding a waterfront property typically isn’t difficult, but you don’t want just any property; you want what is right for you. Buying beachfront on a lake or bay in Chatham-Kent can give you breathtaking sunsets, a cottage feel, and the lush sound of waves rolling in, but it does mean you're farther from the region's major urban locations, school options are more restricted, and you'll likely have to deal with increased summertime traffic due to beach-seeking tourists. Riverfront gives you peace and quiet, as well as privacy. Also, rivers run through some of the largest centres in Chatham-Kent including Chatham, Dresden, and Wallaceburg, and most Chatham-Kent realtors will be able to show you a variety of these homes. Rivers, however, are a major source of flooding and can cause huge amounts of damage to your home. In terms of price, you'll find a wide range of prices on the waterfront. Of course, it's worth noting that most waterfront homes cost more than a similar property that's located inland.

Do Your Research And Double Check Everything

Imagine a beautiful home nestled quietly on a winding river. Imagine the same home surrounded by raging waters in a local flood plane. Before you put in an offer, ask neighbours, ask your Chatham-Kent realtor, study archives at the local library or from environmental authorities, and discover if or when this area has flooded. You should know the highest the river has been, how often flooding occurs, and what the impact to the home was. Lakes typically don't flood, so this tip applies mostly to riverfront property. Not only should you check for water damage in the basement and foundation, but you should also inquire about the impact water levels have had on your septic tank or sewage system. Typically your Chatham Ontario Realtor will have ways of discovering this information.

What Will You Use The Water For?

Deciding how you will use the water, will allow you to successfully choose lakefront or riverfront. If you're looking for motorized watersports, lakefront is likely your answer. Most rivers in Chatham-Kent have speed limits that restrict the use of boats and jet skis. For those who enjoy canoeing or kayaking, riverfront offers more tranquil waters and access points. For fishermen, rivers and lakes in Chatham-Kent both offer outstanding opportunities; however, lakefront obviously requires access to a boat, where riverfront allows for shoreline fishing.

Know Your Budget and be Patient

Buying waterfront property in Chatham-Kent is an investment. Most waterfront homes cost a minimum of $50,000 more than their inland counterparts, for equal or lower quality homes. This is when it really comes down to location, location, location. People have always, and will always, be willing to pay for beautiful morning views and relaxing sunsets. This makes it all the more important to know and stick to your budget when shopping for waterfront property. If you can't afford waterfront yet, maybe it's time to look for a starter home that you can put sweat equity into and re-sell when the time is right. At the same time, finding waterfront property in your ideal location, at the right price point, often requires patience. Real Estate Agents in Chatham-Kent have full access to all listings, and can watch for a home that fits your wants and budget. Homes suiting your needs won't come available in Mitchell's Bay, Erieau, or even on a selected section of the Thames every day. Be patient, do your research, and then be prepared to pounce when the property of your dreams comes available.

If you need help scouring the Chatham-Kent real estate market for the perfect piece of waterfront property, or just need help weighing out the pros and cons of buying waterfront, give me a call at 519-360-0141, or Contact Me on my Chatham real estate website. If you don't want to wait, feel free to get started by browsing my Chatham-Kent Real Estate Listings.