Why are Waterfront Homes More Expensive?
Getting ready to purchase a home around Destin Florida. One of the first things would be buyers notice is the premium homes on the water command. If EVERYTHING in Destin is ten minutes from saltwater, why does the price rise so much? Let's take a closer look.
Why water makes the price rise
1)The spectacular views-- Imagine waking up with a cup of coffee and watching the boat traffic. Now envision waking up to the tail end of a Super Walmart. Folks will pay a premium for beauty.
2) Water Access--The home in the photo has an assigned boat dock. The lucky owners can go do stairs, fire up the diesels, and head to the fishing grounds. Imagine a landlocked owner trying to navigate those streets during peak season!
3) Increased holding costs-- Properties this close to the gulf face higher insurance premiums than a similar home inland. And such properties generally face a higher tax bill as well.
4) Greater rental income potential-- Visitors typically seek to maximize their time on the sand verses bumper to bumper on the highway. So a Destin Florida property on the waterfront should command more short term rent than one away from the water.
5) Developers normally put higher end finishes on waterfront--As a result of the high cost of beachfront property, investors try to maximize their return. There's also a Vegas style competition between different rental towers. One gets a new pool, soon the rest follow. Each a little nicer than the one before.
Looking for a nice home along the Emerald Coast? Or perhaps you seek a top local real estate agent to get you every dollar possible for your Destin Florida Condo? Either way, call Doug Rogers (318) 613-1994 today! Want to explore local homes for sale? Go to Destin Florida homes for sale to see properties listed on the local mls.
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