How Deep Boating Affects Property Value in the Keys

In other words, what factors are involved and what you should know about the relationship between deep boating and residential real estate property values.
By: Coldwell Banker Schmitt Real Estate
 
KEY WEST, Fla. - Sept. 8, 2020 - PRLog -- Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell Banker
Schmitt in Key West.
This is a question that homeowners should consider and homebuyers should also think about, alike. If you live on the waterfront and have access to deep water, should you build a dock? Or, if you're buying a residence on the waterfront and it has access to deep water, should you consider installing a dock.

Unfortunately, there is no one size fits all answer. While a dock will add value to your property, which averages from $14,000 to $20,000, according to Realty Business News, it might not deliver a better lifestyle experience. However, if it does provide more convenience and adds value to the house, then installing a dock is generally a good investment.

Deep Boating and Property Values in the Florida Keys

Okay, so now we've established that docks help increase a property's value, does having deep water access do the same? Generally speaking, the answer is also "Yes." But, this depends on certain factors. For example, is the deep water close by? What's the depth of the water right alongside your waterfront property? Are there protective elements around your property? (For instance, being in a bay that's surrounded by land, complete with trees.)

Even if your property is totally exposed, but has direct access to deep water, then this would serve as a plus positive. It would help to increase the property's value and make it more desirable for resale.

As you can see, this is a complicated scenario and one without a straightforward answer. So, be sure to speak to an experienced, local real estate professional and/or contractor to learn what's best for you.
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 20 years 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. For help with buying or selling Real Estate in the Lower Florida Keys, see
www.lowerkeys-homes.com,"

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Tags:Lower Keys Real Estate
Industry:Real Estate
Location:Key West - Florida - United States
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