Real Estate Bargains and
Pros and Cons of Living by
They say the number one rule for real estate is “location, location, location.” The location of a property can undoubtedly be the determinant of whether a piece of property will sell or tank in the market. For instance, properties in the hills sell for much more than properties in the city. A house in downtown Los Angeles has only a fraction of the value of a house in similar size in Beverly Hills or Hollywood Hills. Likewise, properties by the oceans or lakes sell for more than homes in the inland. But are the benefits waterfront properties worth the drawbacks they experience?
Let's first look at why waterfront properties so attractive to investors. Well first off, no one can deny the pleasure one experiences by waking up to a view of a body of water. This definitely adds to their value as the views witnessed by hillside properties add to their property value. Moreover, this additional value given to waterfront properties make them even more attractive to investors. The location of the property will prove beneficial for an investor looking to resell or rent out his property. Along with the magnificent view, living by water gives one the advantage of having less polluted air as it is further from the city. Also, less insects such as
mosquitoes are around as the ocean breeze pushes the creatures away. Another advantage of living by the water is that the ocean breeze can make even the hottest day in the summer feel like a cool spring day. The yearlong enjoyable weather also gives the residents the opportunity to exercise by swimming, running, walking, and so on.
But as there are advantages to living by water, there are also disadvantages, financially and securely. As stated above, waterfront properties are much pricier than those not by water. Also, living by the water dramatically increases the risk of flooding, and the moisture in the air corrodes pipes and paint and thus requires higher maintenance cost and effort. All these combined also increase the insurance costs of owning waterfront properties. So when considering a waterfront property, do not forget to consider the drawbacks of owning such property.
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