Dear Heather

I would love to buy a waterfront property, but I’ve heard they can be high maintenance, what are the pros and cons?

— Water Lover

Dear Water Lover:

There is always a high demand for waterfront property, preferably boatable or swimmable or both. Waterfront typically demands a higher price than inland homes, as supply is limited and popular. In fact several of our recent waterfront listings have sold within days of being listed, with multiple offers, therefore it may take longer to find one. Generally however, you can expect to live in an upmarket neighbourhood and retain good value in your home when it comes to resale, if you buy waterfront.

Waterfront homes typically carry higher insurance rates, as they are more (albeit rarely) susceptible to hurricanes, storm damage, tidal waves and flooding. However prudent investment in storm shutters, a generator and a garage for the car can keep any storm damage to a minimum.

Docks are a huge bonus for the boat lover, however in Bermuda this can mean the payment of foreshore encroachment fees (see previous article in The Royal Gazette: http://www.royalgazette.com/article/20140501/REALTORS06/140509983) if the dock was built within the last 60 years. So do be knowledgeable before you buy.

Keeping all the above in mind, with a waterfront home you will enjoy a fabulous outdoor lifestyle, constant water views, usually a tranquil and private setting, and cool ocean breezes! A perfect entertainment climate on a balmy summer night.

Don’t rule out a waterfront condominium, this can provide all the benefits of a waterfront house at a faction of the cost. When it comes to making your buying decision the most important criteria is that it provides a safe and comfortable environment for you and your family and ultimately makes you happy.

Heather Chilvers is amongst Coldwell Banker Bermuda Realty’s leading sales representatives. She has been working in real estate for 25 years. If you have a question for Heather, please contact her at hchilvers@brcl.bm or 332-1793. All questions will be treated in confidence.