By Elaine VonCannon, ABR, SRES, Associate Broker, Notary, Team Leader, Property Manager, Award Winning Agent
Is it time to begin the search for a waterfront home? Perhaps you enjoy the ambience of living on the water, with scenic sunrises and sunsets, boats passing idly by, the smell of salt water and the sound of birds and waves lightly lapping outside your window. For some, a waterfront house may be financially out of the question, due to concerns about flood insurance or extensive maintenance. If this is the case for you, it might just be time to consider a waterfront condo or townhouse instead. There are several reasons why a person investing in a waterfront home in VA would do well to invest in a waterfront condo or town home, instead of a house.
Benefits of Purchasing Waterfront Condos Rather Than Waterfront Homes in VA
This article will outline some of the benefits of purchasing a waterfront condo instead of a home. However, if it is truly a waterfront home in VA that you seek, by all means, purchase one! I hope that you receive years of pleasure from your investment in waterfront properties. It takes a special kind of person to enjoy the waterfront lifestyle. You may just be one of them.
Waterfront Properties in VA
When you are searching waterfront listings to find that special place, remember, there are lots of places in the Tidewater area where you can find a property like this. If you want to live near or on the Chesapeake Bay, then the Northern Neck Counties of Mathews or Northumberland or the Gloucester area may be the places to search. If you want to live on the James River or one of its inlets or tributaries, try Isle of Wight County or the Smithfield area, James City County, Williamsburg, Hampton or Newport News. If you prefer to live on the York River or one of its inlets or tributaries, York County and Gloucester are the areas you need to query for waterfront listings.
Waterfront Condos: More Cost Efficient Than a Waterfront House
Many waterfront condo and town home associations have boat docks, piers, and even private beaches, pools and hot tubs for residents' use. This allows for full access to the waterfront without the extra expense of having to maintain a dock and a pier as well as a house, property, and extra amenities. The insurance is a little cheaper for a condo or town home then it would be for an entire home, making it more economical then owning a home.
There will be HOA or condo fees for your waterfront property, but the bill will not as high as the flood insurance on a waterfront home. For a condo or town home the homeowners share the expense of insurance. For a single family residence the property owner has to pay the bill on his or her own.
Spend Time at Your Waterfront Condo Enjoying the Water - Not Performing Upkeep!
Having a home and a piece of property means you must invest time and money in maintenance, and upkeep after storms or just normal wear and tear on a home that comes from living on the water. If you invest in a waterfront condo you can spend more time enjoying the water: boating, fishing, crabbing or sunbathing, instead of worrying about replacing the siding on a home, or cleaning up the property after a storm.
Many waterfront properties are located in remote areas. If you like to travel, it is likely you may worry about your waterfront home while you are away. In a condo or town home your neighbors may be more inclined to keep an eye on the place. Or, the condo association may provide security. In a waterfront home, it is likely there will be no neighbors close by or that you will have fewer people to depend upon. Unless you are truly wealthy, the waterfront house will not have a security guard (although you may opt to install an alarm system). With a waterfront home you may be inclined to worry about theft when you travel, or the possibility of acts of nature infringing on your property while you are away. With a waterfront condo, all it will take is a call to one of the neighbors to keep abreast of any situation that may arise.
When searching the listings for a waterfront home, keep in mind the benefits of investing in a town home or condo instead. In the end, it is all a matter of individual or family preference. The size of the home could be a deciding factor. Whatever your choice, I hope you find the perfect waterfront home for you and your loved ones, and once you invest in that property that you derive years of enjoyment from living the waterfront lifestyle.