Waterfront properties generally cost more than other properties. However, there are different values for different waterfront properties. The difference results from some unique elements, as discussed in this post.
Accessibility
How you get to your property and the water body around it determine the property's access value. For example, if you can walk from the property to the backyard, to a backyard pavement, and then to the beach, the property has a high access value.
Access refers to how you get to the property and water body by foot and by automobile. The value of a property is higher if it can be easily accessed by motorbikes making deliveries and large commercial trucks delivering materials, among other types of automobiles.
Furthermore, you should know how easy-to-reach the property is during all seasons. For example, winter is brutal to travel due to the snow. If you can easily get to your property when it is snowing, its value shoots up higher than if accessing it wasn't easy.
You can assess the value of your property by putting yourself in a different party's shoes. For example, consider how easy it would be to get to your boat if you rented the place for a getaway. The simpler it would be, the higher the property's value.
Frontage and Location
The more frontage the property has, the higher its value. The quality of the shoreline also affects the value of your property. For instance, if your frontage is extensive but surrounded by rocks, it is less desirable than a smaller frontage with a sandy beach. To ensure a higher value, you need to protect your shoreline from erosion.
The value of your property is dependent on its locale on the map and surrounding properties. For example, beaches tend to be sloppy, so some areas are more elevated. If your property is on higher ground, it is more valuable since it is safer from flooding.
Proximity to and Waterfront Size
The water body around the location of your property impacts its value positively or negatively. The water body's proximity also matters, and the
premiums significantly reduce after 60 - 100 meters. If your property is closer to the water body, its value is higher.
Oceanfronts have a higher impact on value compared to lakes and rivers. The view and temperature variation of oceanfronts makes summers mild, making them more desirable and valuable. Different oceanfronts have various values depending on the waves. Properties located on an oceanfront with waves have a higher value than those that aren't.
Property Features
Professionals use comparative analysis to determine the value of your waterfront property. For instance, if your property has more amenities relative to comparable properties, its value rises. You can
enhance your property's value by constructing amenities such as a private dock or a boathouse.
The value also depends on the durability of available infrastructure. Its valuation increases if your property's infrastructure is robust and more immune to waterfront issues.
Orientation
Your property's orientation with relation to elements such as the sun, water views, and wind direction affects its value. For example, if the outdoor area faces away from the afternoon sun, it is more desirable, making it more valuable. Likewise, if you get unobstructed water views from your property, it commands a higher value than it would be if it had obstructions.
The wind direction affects the living conditions of your waterfront property. For example, the value is higher if the wind blows away from your property than it would be with the wind blowing from the water body towards the property.
Conclusion
Finding the exact value of your waterfront property is a complex process. But the great news is that you can enhance the value of your property, and
Edgewater Marine Construction, Inc., has you covered if you would like to do so. We offer quality products and services such as boat equipment and supplies, dock building, foundation contracting, and marine contracting.
