Ft Lauderale Waterfront Homes often have over 30% of their appraised value in the land. Many Fort Lauderale Waterfront homes buyers are surprised by the value of the land compared to the overall value of the home. In the Fort Lauderale Real Estatemarket there are all different types of waterfront properties, each with there own set of attributes that contribute to their value.
For most boaters when they start looking at Fort Lauderdale Waterfront homes for sale, the most important criteria is "no fixed bridges - ocean access". From that point numerous things come into play that effect the value of the lot such as width of the canal, depth of the water at low tide, and how long is the ride to the ocean. The Fort Lauderdale Communitiesthat are closest to the inlet command the highest Fort Lauderdale Waterfront home prices.
At the peak of the market it was not unusual to hear prime waterfront lots in the finest luxury neighborhoods of Fort Lauderdale selling for over $10,000 per foot, this gave the land fronting on a 100 feet of prime Fort Lauderdale waterfront a value of over $1,000,000.
Certainly many other issues come into the value of a Fort Lauderdale Waterfront home, and the land underneath. One of which is simply supply and demand. The same supply and demand issue which make waterfront homes the most valuable homes in the Fort Lauderdale Real Estate market, puts a premium on waterfront lots which there are less of. The larger the water frontage the rarer the lot and the higher the premium. Fort Lauderdale Waterfront homes with more than 100 feet of waterfrontage are simply in less supply than 70 foot waterfront lots and therefore command a premium.
In the Fort Laudedale Real Estatemarket it is very unusual to be buying simply a waterfront lot. Most often you are looking at a home that may be considered a "tear down", with this is mind knowing the value of the land becomes important. If you have been thinking that now is great time to be looking at Fort Lauderdale Waterfront Homes, your right !
Call Eric Miller to today, as we are always here to help you find your Fort Lauderdale Waterfront Home.
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