Are you purchasing waterfront property in North Florida? Here’s what you need to know.
Does the property have a boathouse, boat slip or dock?
In many cases, people who want to purchase waterfront property already have boats, jet skis and other water toys. However, not all property has the structures necessary to put these things in the water. You’ll have to talk to your Realtor® about whether you will be allowed to install what you need after you purchase the property; even if those structures are present, you’ll need to make sure they’re in good repair.
Does your Realtor really have the knowledge necessary to be considered a waterfront specialist?
Many agents, even in Florida, don’t know the ins and outs of waterfront properties. Buying the property on the water is different from buying land locked property. A Realtor specializing in waterfront properties will be able to find out everything you need to know – including details on protecting the natural shoreline, whether you can build structures in or around the water, and many other local and federal issues that will affect your purchase.
Think about your insurance early.
Know that if you are purchasing a waterfront property in North Florida, you’ll need to purchase three-fold insurance. Your insurance needs to cover floods, wind and general hazards.
You will need an elevation certificate before you purchase insurance.
One of the first things that you will need to do with the waterfront property in North Florida is to schedule a survey and get an elevation certificate right away. You can’t get a quote on your flood insurance without the elevation certificate.