Things to Consider When Buying Waterfront Property in Florida
Florida is paradise for anyone seeking the tranquility and beauty of waterfront living. Whether you’re dreaming of waking up to the sound of the Atlantic Ocean waves crashing on the shore or enjoying the calm serenity of a riverfront view, Volusia County offers a wide variety of waterfront properties. From the bustling shores of Daytona Beach to the peaceful riversides of New Smyrna Beach, there’s something for every waterfront lover.
However, buying a waterfront property isn’t just about the breathtaking views and enviable lifestyle. Waterfront homes come with unique considerations that require careful thought and planning. This guide will walk you through the most important factors to keep in mind when purchasing a waterfront property in Florida, with my focus on where I work & play: Volusia County.
Flood Zones and Insurance
One of the most critical factors to consider when buying waterfront real estate in Volusia County is the risk of flooding. Being near water means you may be in a designated flood zone, which can significantly impact both your home insurance and your future maintenance costs.
FEMA Flood Zones: The Federal Emergency Management Agency (FEMA) has mapped out flood zones across the U.S., and many waterfront properties fall into high-risk areas. It’s essential to know if the property you’re considering is in a FEMA-designated flood zone. If it is, you’ll need flood insurance, which is separate from your regular homeowner’s policy. The cost of flood insurance can vary significantly depending on your property’s elevation and proximity to the water.
Insurance Requirements: In high-risk flood zones, lenders will typically require you to have flood insurance before approving a mortgage. Even if you’re paying in cash, it’s wise to invest in flood insurance for peace of mind. Understanding the cost and availability of insurance in the area can affect your long-term financial planning when buying a waterfront home.
Environmental and Coastal Regulations
Waterfront properties in Volusia County are subject to several environmental and coastal regulations that could influence what you can and cannot do with the property.
Coastal Construction Control Line (CCCL): In Florida, the CCCL helps protect the state’s beaches from erosion and improper development. If your property is near the coastline, it may fall under the jurisdiction of the CCCL. This means that any construction or modifications, such as building a seawall or expanding your home, may require special permits and adherence to strict environmental regulations.
Wildlife Protection: Volusia County is home to a variety of wildlife, including endangered sea turtles, manatees, mangroves and numerous bird species. Some waterfront properties may have restrictions in place to protect these species, such as limitations on nighttime lighting or rules about how and where docks can be built. It’s important to check with local authorities before making any alterations to the property.
Maintenance Costs of Waterfront Properties
While the idea of owning a waterfront home is incredibly appealing, it’s important to remember that these properties require more upkeep than your average home.
Exposure to Elements: Homes close to the ocean are exposed to saltwater, wind, and humidity, all of which can accelerate wear and tear on building materials. Metal fixtures may corrode, paint may need to be refreshed more often, and roofs can be more prone to damage from coastal storms. If you’re considering a property that’s directly on the ocean, factor in the additional maintenance costs, including regular inspections of the roof, windows, and foundation.
Dock and Seawall Maintenance: If your property has a private dock or seawall, you’ll need to budget for their maintenance as well. Seawalls are vital in preventing erosion and protecting your property from the force of the water. However, they can be costly to repair or replace if damaged, particularly after a storm or period of high tides.
Long-term Planning: It’s crucial to set aside a budget for these ongoing maintenance needs. Regular inspections and preventative measures can help extend the life of your home’s exterior features and ensure that the property remains in top condition.
Water Access and Amenities
A key selling point of waterfront living is direct access to the water for boating, fishing, kayaking, or simply enjoying the peaceful ambiance. However, not all waterfront properties offer the same level of access, so it’s essential to understand the specific features of the property you’re considering.
Private Docks and Boat Lifts: Properties with private docks provide convenient access to water activities. However, these docks will require upkeep, and you may need permits or permissions to build or expand a dock on your property. Some homes also come with boat lifts, which can make it easier to store and maintain boats.
Public vs. Private Access: Some waterfront properties may have public access points nearby, while others offer more private and secluded access. If you value privacy, you may want to look for homes with limited access to the water for the general public.
Weather and Natural Disasters
Florida’s waterfront properties are no strangers to the challenges posed by extreme weather, particularly hurricanes and tropical storms. When buying a waterfront home in Volusia County, it’s essential to factor in the risks associated with natural disasters.
Hurricane Preparation: Homes in hurricane-prone areas should be equipped with hurricane shutters, impact-resistant windows, and reinforced doors. If you’re considering buying a waterfront property, ask about the home’s storm preparedness features. Homes that have been built or renovated with hurricane-resistant materials can offer better protection against high winds and flying debris. Check out my recent blog post on Hurricane Prep.
Disaster Preparedness: Make sure to have a plan in place for hurricane season. This includes having an emergency kit, understanding evacuation routes, and knowing where to store outdoor furniture and equipment. It’s also important to review your insurance policy to ensure it covers hurricane damage.
Resale Value and Investment Potential
Waterfront properties are not only about lifestyle but also about investment potential. In Volusia County, the demand for waterfront homes tends to remain strong, which means that your property will likely appreciate over time. Waterfront homes are highly desired by renters as well and offer potential for AirBnB or short-term rental income. Waterfront and waterview are common search criteria for vacation or seasonal renters.
Market Appreciation: Waterfront homes generally hold their value better than inland properties due to their unique location. However, market fluctuations, environmental concerns (such as rising sea levels), and economic conditions can impact resale value.
Maximizing Resale Value: To ensure that your waterfront home retains or increases its value, focus on proper maintenance and consider making improvements that enhance its appeal. Properties in less flood-prone areas or with strong hurricane protection features are often more attractive to future buyers.
Lifestyle Considerations
Living in a waterfront property offers a unique and often relaxing lifestyle.
Peace and Privacy: While waterfront homes can provide a sense of peace and seclusion, the level of privacy varies. Some waterfront properties may have public access points nearby, which can lead to higher foot traffic. It’s important to evaluate how close the property is to public beaches, parks, or boat ramps.
Outdoor Activities: If you’re an outdoor enthusiast, waterfront living in Volusia County offers unparalleled access to activities such as fishing, boating, kayaking, and paddleboarding. Living near the water can transform your everyday routine into a coastal adventure.
Bugs, Gators and Snakes, oh my: We haven’t earned the nickname Mosquito Lagoon for nothing! Be sure to consider the fact that mosquitos, no-seeums and other bugs, snakes and even gators are more prevalent at the waterfront.
Understanding the Local Market
Waterfront properties are highly sought after, and because of this, they often come with a higher price tag compared to inland homes. In Volusia County, the real estate market is diverse, offering everything from oceanfront estates to charming homes nestled along the Intracoastal Waterway.
Oceanfront vs. Riverfront: Oceanfront homes tend to be more expensive due to their prime location. However, riverfront properties, especially those along the Halifax, St. John or Indian River, offer stunning views, access to water sports, and tend to be slightly more affordable. Canal-front homes, which provide direct access to larger bodies of water, are another option, often priced between riverfront and oceanfront properties.
Market Trends: It’s important to keep an eye on the local market trends, as waterfront properties can be volatile depending on seasonal demand and environmental factors. An experienced real estate agent who specializes in waterfront properties will be able to guide you in understanding the current market conditions and help you find a property that fits your budget and lifestyle.
Navigating the complexities of buying waterfront property in Volusia County requires local expertise. An experienced real estate agent who specializes in waterfront properties will have in-depth knowledge of the market, including hidden gems and properties that aren’t widely advertised.
One final tip: Riparian Rights are a type of water right that pertains specifically to landowners whose property directly touches a natural water source. These rights generally allow the owner to:
- Access the water: Property owners can use the water for activities such as boating, fishing, swimming, and sometimes irrigation.
- Reasonable use: The owner is entitled to reasonable use of the water as long as it doesn’t significantly alter the flow or quality of the water for other users downstream.
- Maintain the natural flow: Riparian owners cannot disrupt or divert the water in ways that cause harm to other riparian owners.
A home with deeded Riparian Rights is worth more because of the “bundle” of additional uses you are allowed, such as a boat dock over the water, vs. a home that does not have existing riparian rights would not be allowed to have a boat dock over the water.
Considering a Waterfront Home?
We have a VIP boater program specifically designed for buyers looking to purchase waterfront homes in Volusia County. Contact me today to find out more about our program, which gives you the option of being shown dock homes by boat (vs car!)
Curious what’s out there? Click here to search waterfront homes in Volusia County.
Love waterfront but can’t afford a waterfront home? No worries, check out Volusia County’s Top Waterfront Restaurants and sneak a feel for the waterfront vibe!
