Is it cooler to live on the water? I personally think it is. The Dekker Team has been helping families for over 30 years. Helping families build their faith, their relationships, their wealth and also helping families make their house into a home. An advantage of living on the water in addition to the whole concept of the moderating effects that we talked about in a previous segment, is that you get a lot more green space. There are city waterfront properties that are fairly tight together, and yet they have space in the back and feel more spacious. If you're going to go slightly out of the city where properties are on well and septic, you will see properties that are a third or half an acre. They will have a larger waterfront, more space, more trees and just a cooler place to live.
Many people have great childhood memories in relation to waterfront. Ken grew up in Toronto and his house was very close to the Etobicoke Creek, which is fairly big. He would walk on the rocks and watch the water. Then his family moved to Port Severn to own and operate a lakeside resort. He grew up there and although he worked each morning, his afternoons were pretty much free. He had the lifestyle of living at a lake house. He enjoyed fishing, water skiing and tubing. If you've ever lived on water, it is very difficult to move away from it and many people are drawn back to it.
Having a cottage or living in a lake house gives people an opportunity to keep their kids close to home as it becomes an entertainment place. Less money is spent to bring your kids to camp or other recreational activities, since a cottage is an extravagant recreation centre in your own backyard. Their friends will want to come too, allowing your children to spend more time at home rather than somewhere else.
If you're thinking, “Wow, I grew up on the water and I have that same feeling come over me when I think about the waterfront. Is this is the time to consider it? Am I ready to move near the water?”
Having someone find you the right waterfront property is very important, especially with the limited availability. There are so many things to consider. A city Realtor© may have the experience and they may not. Do they understand the complexities of dealing with well and septic? Do they know the proper questions to ask with regards to shorefront and whether you actually own it or not? The property may look great in the spring pictures of the water, but what does it look like in August? Is it full of algae and lily pads, looking like a swamp and mosquito infested or is it clear? Is the water moving? Does it have the depth for the boat you may want to buy in the future? All of those things are so important and to have an experienced Realtor© help you navigate the process of finding the right waterfront for you is very important.
You may have questions that Ken has not raised. You can send them in and we'll answer them on a future episode or you can call us for a consult and we'll answer your specific questions. With waterfront, the question or statement we hear the most is “I would love waterfront but it is just too expensive”. For someone who is anxious to either get back to the waterfront or get to the water for the first time, it's not necessarily too expensive. Typically a waterfront property is $50,000 or $100,000 more than a comparable property that is not on the water. Is that affordable to you? Spending the extra money on a lakefront property is cheaper than purchasing a home and a cottage. There is also no capital gains tax if it is your principal residence. We can discuss your unique situation to help you determine the best choice for you.
Ken loves this topic. Call him at (613) 860-4663 if you want to talk waterfront property.
We're excited to be your partners in moving forward because together we've got this.
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