davidc@ccr-mag.comAugust 20, 2020
Living on water and near water is a dream for many Canadians. There is a unique pull from the water bodies such as oceans, lakes, and other water bodies that have fascinated human beings. Waterfront property and living is considered the ultimate investment and luxurious standards. However, living near water bodies can also prove to be a nightmare for some people. Let’s delve into the pros and cons of living on and near water bodies.
Peace and Calm
You are assured of enjoying the peace away from noisy neighbors and busy highways. You will be waking up to calm, fresh air and cool breeze from the water body. Owning a home near a water body will insulate you from the bustle of modern living.
Living on a lake or ocean or nearby a gently flowing river from your window or front porch will bring about serenity and melt away stress. You could even take a walk down to the water wade knee-deep or even take a swim after a long day and enjoy the fresh air and beautiful scenery.
Expansive and Scintillating Views
Living near a water body provides your property with scintillating views as opposed to having to stare out at old buildings. The magical views arising from living on the water cannot be likened to the forest or mountainous views. Your property will have backdrops such as a gently flowing stream or river just nearby or cliff-side views out to the ocean or watching the sunrise or set over a lake. People have drawn their inspiration and creativity from living near water bodies that offer immense backdrops. The waterfront property provides the views and experience every day.
Privacy
Living by the water means that you have a natural barrier on one side of your property that keeps away nosy neighbors. It gives you much-needed privacy away from prying eyes of the public and other onlookers.
Water Sports
Living on the water allows you to easily engage in watersports such as boating, surfing, jet-skiing, kayaking, snorkeling, fishing, swimming, scuba diving, and any other water sport that warms your heart. A waterfront home will make it possible to live an active lifestyle following your passion for water sports.
You will be making big savings since you do not have to travel or pay fees to engage in your favorite water sport. On the flip side, be ready to play host to your family members and friends seeking to take advantage of this privilege of living on the water.
Big Returns on Investment
Property near a water body is not easy to come across and the limited supply will ensure your home retains its value or builds equity for many years to come. Paradise Developments has new communities in Durham region, not that far from the water that would be a good investment choice since it will continue to give big returns year on year.
In terms of rental income, waterfront homes are the desired choice for people taking a vacation on the beach or lakeside home and others seeking the luxury of living there.
Good Neighbors
Having a waterfront property will most likely bring with it good and respectful neighbors who may have similar ambitions and lifestyles. There will be many common interests such as water sports meaning more chances to connect and make friendships. Living on the water will most likely not come with troublesome neighbors.
The Cons
Living on the water will also have its cons since not all factors are rosy and easy. Water can become a big peril to your home.
Constant Maintenance
Having a property by the water will call for more maintenance compared to other homes. Living near water will bring its fair share of worries due to high humidity, mist, erosion, and other factors. You will need to do more in terms of regular maintenance to safeguard against potential damage. That implies that you have a steep maintenance fee to constantly incur to keep your home in tip-top shape.
Plenty of Bugs
You are not the only one enticed by the advantages of living on the water. Insects and animals are also attracted by the water for feeding and breeding purposes. There will be plenty of these little pesky flying or crawling neighbors such as mosquitos to contend with. Bug-proofing your home and the use of bug repellants are some of the measures that you can take to create safe livable conditions.
Another of the problems to contend with are water-loving creatures such as snakes and alligators depending on your location. These pose a serious threat to human life and health and may require the intervention of wildlife protections and control services to address the menace.
Mother Nature is Unpredictable
Weather patterns are no longer predictable and adverse weather may bring about unwarranted damage to your property. Sea levels are rising and frequent storms will visit damage to those people living by the water. These are factors that are beyond your control and place your home susceptible to damage due to high winds, flooding, soil erosion, and mudslides.
You will be forced to spend more on home insurance to safeguard your property against the ravages of Mother Nature. Some homeowners will be lucky to live happily near water bodies while others will not be quite fortunate to escape misfortunes.
Inflated property Costs
Normally, a property on the waterfront will on average cost more than the average house in the market. The rules of supply and demand come into play as there is a limited supply of waterfront homes and a high demand for such properties.
You have to dig deep into your pocket just to get such a waterfront property and may have to pay over and above the market rates fast track the sale. You will spend more on a waterfront property compared to a similar property elsewhere.
In conclusion, having learned the pros and cons of living on the water, you can now make an informed choice about the investment.
