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Follow on Google News | Why Waterfront Properties appreciate moreBy: Fred Mullins Any real estate professional will tell you that location is so important, it ought to be your primary focus when buying property. This is because when you buy a home, you’re actually buying into the neighborhood, and, when it’s waterfront property, it’s going to perform better on its return on investment. So, why is it that waterfront properties typically appreciate more in value than their landlocked counterparts? ● It’s located in a destination spot. By its very nature, waterfront property is in a destination location, regardless if it’s on a lake or on an ocean beach. These are places people go and with good reason -- scenic views, plenty of entertainment choices, and a robust availability of recreation opportunities. ● Land is at a premium because it’s finite. Waterfront land appreciates at a more accelerated rate precisely because it’s finite. Because there is limited space to build new residences, land values are high and enjoy an upward appreciation trajectory. ● Access to the water for recreation. There’s real value to waterfront property because it provide unfettered and immediate access to its greatest amenity -- the water. It’s on the water where you can boat, fish, snorkel, swim, and engage in many other types of recreation and relaxation. Because of this factor, it adds significantly to real estate values. ● Higher rate of real estate appreciation. Here again, location plays a large role because of its substantial desirability. Since land is finite, particularly in resort-like locations, waterfront properties outperform landlocked residences with ease. ● Ability to easily rent out at higher rates. Another reason that waterfront properties appreciate with a high rate of return is because they make better investment vehicles. Even property owners that rent just a couple of weeks a year will be able to collect higher rates than other property types. What’s more, that income can be earned without paying taxes, if done by IRS rules. Of course, there are intangibles, as well when it comes to waterfront real estate. Among these are scenic views and cachet. There’s definitely something to be said for watching sunrises and sunsets over the water, and, there’s no doubting the prestige that comes with owning a waterfront home. Fred Mullins, P.A. holds an MBA, B.S., real estate license United States Coast Guard Master Captain's license and commercial pilot's license. With over 20years of cross functional experience in real estate, international asset management and construction management, Fred's experience places him as one of the top real estate professionals in the Florida Keys. End
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