Mike O'Keefe's Blog
Buying property can be fun, but it can also be exhausting. You want to find a place that fits your personal lifestyle and invest in a home that'll bring you years of happiness. As you're looking at shorefront real estate:
1. Understand Your Access Rights to the Water
On the surface, it may look like a no-brainer that you have access to the water, but many people learn the hard way that their beautiful waterfront views don't have easements that allow access to the lake, pond, or ocean. Most people don't want a beautiful view of the water without being able to use it.
2. Know Your Waterfront Buffer Zones
State and local regulations may prohibit your landscaping plans from making forward progress if you're too close to tidal waters. Know the buffer zones before you buy so you're not stuck with a landscape you don't love.
3. Learn Your Littoral Rights
If you purchase waterfront real estate, you may very well be granted littoral rights—that is, you'd have unrestricted rights to use that water as though it was land. The government may also own the water up to a certain point, so it's best to gain this knowledge up front.
4. Know if You have Riparian Rights
If you purchase a non-riparian waterfront property, you likely won't be able to have a private dock or pier on the water. Since this is one of the major reasons people want to own waterfront property, it's important to understand these rights before you buy.
5. Understand Your Obligations Regarding Water Depth
You don't have any control over Mother Nature, but you do often have certain obligations in terms of what you're permitted to do in certain water depths. You may need to build a deck farther out into the water than you'd first anticipated in order adhere to depth regulations.
6. Look at the Fixtures Surrounding the Property
Certain watercraft, such as sailboats, need far more clearance than others. If your potential property is directly next to fixed-height bridges that wouldn't enable you to enjoy leisure time on your sailboat, that may not be the best home for you. Alternatively, people who enjoy kayaking wouldn't need to be concerned with fixed-height structures. In fact, those areas might be best for this type of buyer.
7. Research Regulations Impacting Docks and Piers
It's not atypical to have to purchase pier permits. Depending on your location, these regulations may be governed by federal, state, or local institutions. It's best to have an idea of the cost before you get your heart set on a single property.
8. Include Flood Insurance in Your Monthly Costs
Natural disasters can bolster the cost of flood insurance. Even if you think you'll never need it, a waterfront property is always best protected when flood insurance is calculated into the cost.
9. Know How Secluded You Really Want to Be
Waterfront real estate is appealing because it's quiet and serene, but if this will be your year-round residence, make sure you've taken winter into consideration if you're looking for lakefront property where snowfall can change the landscape quickly. Super-secluded spots can make it difficult to get to the store when blizzards hit, so you may want to look for a place that has easy access to shopping. However, if you're willing to rough it, or if you'll only be using the property in the summer, seclusion is a great way to go! Of course, if you're looking for beachfront property in Florida, parts of California or the Carolinas, winters won't really be a concern you'll have to worry about.
10. Explore the Pros and Cons of Private Beaches Versus Public Shores
There are pros and cons to each. Make sure you have an idea what you're looking for before you and your real estate agent start house-hunting, but be open to possibilities if your real estate agent has a property they insist you must see.
As you're shopping for waterfront real estate, be sure to keep these tips in mind. The more you know, the more likely you'll be to find a home that makes you happy for many years to come. Contact me if you have questions about buying waterfront property!
11 Rockdale Hill Circle, Upton, MA 01568
Experienced, knowledgeable real estate agents are experts in attracting potential buyers to home showings.
When you initially meet with prospective real estate agents to determine which one would be the best fit for your needs, you can get a pretty good sense of how marketing-savvy they are.
Since marketing is one of the most important parts of their job description, a well-trained, motivated real estate agent will know how to effectively use the Internet, their network of personal contacts, and a variety of other techniques to draw in qualified prospects.
Is there anything that you, as the homeowner, can do to help market your home?
Although it's your real estate agent's role to advertise, promote, and publicize your real estate listing to targeted groups and the general public, there is one huge thing you can do to help: Try to keep your house and property looking impeccable at all times. While that goal may be easier said than done, it's worth some extra time and effort to make your home as inviting and appealing to house hunters as possible.
Here are two ways you can increase your home's marketability and help spark more interest among prospective buyers:
- Meticulous neatness and cleanliness gives your home instant appeal. On the other hand, a messy, disorganized home or yard will send the wrong message to people touring your house. While it may be counterproductive to have your house reeking from ammonia and harsh cleaning chemicals, keeping countertops, floors, and walls clean will help your real estate agent present your home in its best possible light. Hopefully, you'll be able to enlist the help of everyone in the family (except pets) to clean up after themselves and keep their rooms and play areas looking civilized!
- Help maintain curb appeal! As the cliché goes (or was it an old mouthwash commercial?): "You don't get a second chance to make a great first impression!" For that reason, it's vitally important for your lawn to look well manicured and your house to be free from peeling paint and yard clutter. Another eyesore that detracts from first impressions is the sight of weeds growing out of cracks in your driveway or walkway. The cracks, themselves, are a problem you might want to address, but the weeds (or grass) poking through them is like adding insult to injury! If you don't want to spray them with some toxic, store-bought weed killer, then research natural ways to kill weeds.
68 Madison St, Amesbury, MA 01913
Buying a home will likely be one of the largest financial decisions you will make in your lifetime. While this may seem scary at first, it’s worth noting that buying a home can also be a valuable financial investment.
When it comes to preparing to buy a home, many people just wait until they run out of room in their apartment before deciding that they need to upgrade to a home. A better approach, however, would be to start planning for your first home a year or more in advance.
Saving for a down payment is a vital step to making the best long-term financial decision. A larger down payment can help you pay off your home sooner, pay thousands or tens of thousands less in interest, and start using your home equity as an asset.
But, saving for a down payment is easier said than done. So, in this post, we’re going to talk about some of the ways you can aggressively save for a down payment so that, when the time comes, you can achieve long-term financial security from your investment.
Setting your savings goals
The first thing you should be thinking about when saving for a down payment is what your goals are in a home. Setting realistic goals in this phase will make saving for your down payment more feasible and less discouraging.
Think about what you really need from a home at this point in your life and compromise where you can.
Remember that on top of your monthly mortgage payments, you’ll likely also be paying for taxes, insurance, utilities, homeowners association fees, and more.
Save on a timeline
When setting your savings goal, make sure you’re aware of the timeframe you’re working with. If you want to buy a home next year, you’ll need to focus on short-term savings options. However, if you’re okay with renting for the next 5 years, investing your money could be a better option.
Lock away your savings
Treat your down payment savings like an emergency fund. Open a separate account, automatically deposit a portion of your pay into the account, and never withdraw from it. To do this, you will, of course, need to already have an emergency fund with a month’s expenses in it.
However, once you’ve established your emergency fund, start immediately depositing into your savings account.
Pay off credit cards
It may seem like saving for a down payment is more pressing than paying off old debt. However, the numbers will show that making interest payments on your credit cards is essentially throwing away money that could have been used toward your down payment savings.
Adjust your spending habits
While it isn’t easy to start spending less once you’ve built a standard of living, there are ways to spend less money and still lead a fulfilling life. Think about where your money goes each month, including bills and services you might pay for.
Now could be the best time to cut the cord and start using a service like Hulu to save $50 or more each month.
Time for a raise?
If it’s been some time since your last pay raise, now could be an ideal time to speak with your employer. To improve your chances of success, don’t discuss reasons outside of work that might be influencing your decision to ask for a raise (such as saving for a down payment). Rather, back up your request with evidence of your accomplishments at work.