For the majority of people, waterfront properties are considered as the pinnacle of luxury living. In previous years, waterfront living referred to beachfront houses; however, nowadays there are various types of waterfront real estate ranging from log cabins on lakes to mansions on the side of large rivers. While owning waterfront property can be an attractive concept, you need to take certain considerations into account to determine if it is suitable for your needs. This article provides information on the different pros and cons to owning Naples luxury real estate.
What Are The Benefits To Owning Luxury Waterfront Real Estate?
1. Improved Lifestyle And Scenery
Research has found that people living near or on the waterfront are happier with their lives as compared to people residing in the center of contemporary cities. The closer one gets to water, the fresher the air and the better the view from one’s backyard. Waterfront life places stock on nature-scented breezes instead of the over-stimulated urban life. By moving away from over-stimulation, a person will experience a ‘slow-down’ of pace and feelings of relaxation.
2. Improved Body Health
As is mentioned above, the closer one is to the water, the better the quality of the air. Of course, there are certain exceptions to this rule; however, the majority of waterfront properties will present with cleaner air. The higher quality air contributes to people spending more time outdoors, which is beneficial for the human body. People living in urban areas tend to stay indoor most of the time, but waterfront communities offer walking trails that make the outdoors more exciting.
3. Good Return On Investment
All real estate investment involves risk, but waterfront real estate investment tends to be a beneficial option appreciating over the long term. There is only so much land available near water, and the law of economics indicate that desirable resources in this area are limited; therefore, the price of waterfront properties will increase steadily over time.
To test if this theory is true, it is recommended that you ask a real estate professional what the cost of a home in a particular area was thirty years ago compared to today. When receiving this number, compare the rate of change with other areas that are similar but not on the water. This will indicate how valuable a Naples luxury homes for sale
What Are The Drawbacks To Owning Luxury Waterfront Real Estate?
1. Increased Maintenance
As with all things in life, there are drawbacks in addition to benefits. One of the drawbacks to owning Naples luxury waterfront real estate is the increased level of maintenance. Due to the increased amount of humidity, mist, and external elements (for example, salt if on the beachfront), there is a greater risk of erosion to the house. Moreover, the appliances and furnishings within the home can be affected by humidity and at risk of damage. While this can be a con to property ownership, it can be beneficial because it can help negotiations when purchasing the waterfront real estate.
2. Reduced Privacy
Contrary to popular belief, purchasing Naples luxury waterfront real estate does not increase privacy for the homeowner. It can do the opposite and reduces your level of privacy or anonymity. As living at the waterfront is considered a desirable option, the waterfront tends to attract both visitors and residents. This means that weekend tourists playing volleyball and having barbeques will be a common occurrence, particularly during the summer months.
If you are a sociable person and do not mind a reduction of privacy, then you will not mind this increase in visibility. However, if you value your privacy, then this element of waterfront living can be a problem. One method to avoid dealing with crowds is by purchasing property in a gated community or buying a larger lot. This will require large sums of money and is a costly alternative.
3. Dealing With Insects
A common problem facing people living on the waterfront is the issue of insects, particularly mosquitoes. The degree of this issue will vary according to region, but one can be sure that all waterfront properties will experience some flying insects during the summer months. The general rule is that the closer you are to water, the more insects you will need to deal with during the evenings. This is particularly true when living near still water, such as ponds or lakes.
4. Rising Sea Levels
According to several published journal articles, as well as continued research, evidence has found that the sea level is rising. As a result of rising levels, the sea could reach waterfront homes and dampen the properties. The consideration here is not only how the rising water could impact the residential house, but also how the infrastructure and economy of waterfront communities will be affected. For example, will the communities be accessible or underwater 50 years from now? Research is being done, but predictions do not look positive, and this can influence your decision on purchasing waterfront real estate.
5. Zoning Regulations
Zoning regulations are unique to waterfront properties, and they need to be considered. The majority of municipalities have environmental regulations limiting the size of new buildings or how near the property can be built to the water. If you plan on purchasing a new building, and potentially extending the property, it is important to consider the bylaws beforehand.
6. Road Access
When a person purchases waterfront properties, they often desire to leave contemporary cities behind; however, road access to cities is important to maintain your lifestyle. For many waterfront properties, road access can be a problem, and it is recommended that you identify whether or not the access road is maintained. The municipality maintains some access roads, but others require a fee to be paid to have it cared for during the winter months. This can be a problem if you do not own a four-wheel drive as you will not have access to stores from your property.
As can be seen, there are various pros and cons to owning a luxury real estate in Naples. By using the information above, you can determine if buying property on the water is suitable for your needs.