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Zack Childress-Water front properties are a portion of paradise!! Owning one is the most beautiful dreams most people aspire to and living in one is like staying on top of the world. But did you know that it doesn’t come that easy; there are several factors you have to contemplate on when it comes to buying waterfront property. As diverse and unique as the owners, from a cottage by the lake to a beachfront retreat to an isolated private island, following are some of the golden rules or tips listed out for buying waterfront property.
Unlike normal homes, it is not the structures that are on it are considered as the selling point, but the property itself is. When it comes to waterfront property, you should do away with the house from the equation and think about the property and the surrounding body of water.
When it comes to building additional structures on waterfront property, there are practical and regulatory restrictions, so it is always good to understand building restrictions if any. In the future, if you wanted to build a dock, seawall or a new home, then you should plan in advance and clarify it while buying. The land near the water should support that structure, there shouldn’t be any legal issues, and for all this, you should look at the local government rules and permit information.
The amount of insurance to be paid for waterfront homes is comparatively high to that of normal homes and it poses special challenges in addition. The increased risk of damage from the elements like surrounding water and high winds requires more coverage. For example, in general, a standard homeowner’s insurance policy covers wind damage, as with waterfront property this is not the case because they are prone to excess damages with hurricane exposure. In this case, you may have to pay a little extra wind insurance separately. Boat insurance, flood insurance, and personal liability insurance for you and your family are some of the other unique policies that waterfront property owners may have to consider. This is because of the increased risk of injury associated with water-based activities.
Compared to their inland counterparts, Waterfront environments are quite extreme; hence it is imperative to consider the temperature before you could put an offer on the home.
Imagine losing yourself in the ocean vistas, a nostalgic vibe, the sound, the air, the smell, altogether of the sea would definitely evoke sweet memories of yours and you are sure to enjoy it even better if you are going to follow all these guidelines of Zack Childress when you are planning to buy a waterfront property. Educating aspiring realtors, Zack Childress real estate tips are a blessing to beginners. The best part about his tips is that you can apply it in real life without much ado and can receive benefits that are totally fruitful.
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Zack childress-By Les Christie, staff writerApril 14, 2011: 5:27 AM ET NEW YORK (CNNMoney) - On the surface, the foreclosure Read more
Zack Childress is a 10 year real estate investing veteran. He invests in 7 different markets simultaneously and doesn’t need to travel all the time to these 7 markets because he invests virtually. He’s coined a system where he doesn’t put any cash or credit down for his deals and he can buy and sell the property in just 7 days. You can get more details about this no money down strategy here. http://www.co-wholesaling.com