11 Tips for Buying Waterfront Real Estate

So you’re thinking about buying a waterfront property. You probably already know this, but buying any property can be a significant decision. What you may not know is that there are a few twists that come with purchasing a waterfront property that make it very different from buying property in any old subdivision. I've put together a few tips that you should keep in mind when you're looking for the perfect waterfront property whether that means a waterfront lot or existing home.

1. Don't buy land without setting foot on it first. You should take the time to look it over closely and inspect it yourself. Locate a copy of the site plan so you can determine exactly where the property lines are. Plats are easily available at a local title company in Hood County.
2. Talk to the neighbors. Ask them what they think of the developer and/or builder and the area. Are they happy with how their house was built? If they love living there, they'll tell you - if they hate it, they'll tell you that too.
3. If you're looking at lakefront property, you need to determine if the lake is constant level or not. If it's not a constant level lake, then the water levels could change drastically. Lake Granbury is not a constant level lake but the water levels historically have not varied a great deal even in drier summers.
4. Check to see if there are any flood plain restrictions. If you build or buy in a flood zone you may have a tough time getting insurance. Most of Lake Granbury is not in flood zone areas but that is not always the case so it is wise to check out each property.
5. Make sure the lot you're looking at will support a house of the size you want. Of particular importance on Lake Granbury and any lake in Texas is what direction the sun sets in relation to the house or proposed house.
6. Don't limit your search to a single waterfront development - no matter how "in love" you are with it. If you're not familiar with all the waterfront developments available in Hood County, then Granbury Home Center can provide help and information.
7. Find our how the property will change in the different seasons or when the weather conditions change. When was the last drought and what happened to the water levels then?
8. If you're interested in building a boat house, make sure that there aren't Restrictive Covenants preventing you from doing so. The Brazos River Authority has placed some restrictions on some areas of Lake Granbury with regard to building a new boat dock. You should not have a problem rebuilding or updating any existing boat dock on Lake Granbury.
9. If you're planning on building a home, make sure that you will have access to electricity, water, sewage and other utilities. Never assume that you can just "hook up".
10. Many waterfront subdivisions on Lake Granbury have mandatory Home Owner’s Associations and Restrictive Covenants. Make sure you understand any costs or dues involved in becoming a member of any HOA and how the Rules and Regulations impact your plans and use of the proposed property. Also make sure you know who is responsible for maintaining the roads in the subdivision.
11. Lastly, before you make the purchase offer, consider making it conditional on an inspection of the land or on another specific item. For example, if you don't have access to sewage lines, make the offer conditional on your ability to obtain permits for a septic system. Plus, you should always make your offer contingent on your ability to obtain financing. Granbury Home Center will be instrumental in helping you write an offer that protects your best interests.

OK, armed with these tips, you should be ready to start your search for the perfect waterfront property . Remember, investing in waterfront real estate requires common sense and due diligence, just like any other investment. Go put these tips to work for you!