Purchasing a South Florida luxury waterfront property is a major decision, and you should strongly consider talking with an experienced South Florida luxury residential real estate attorney or other real estate expert who can help find the right property for you. Below are five tips that will help you narrow down the choices as you search for the luxury waterfront property of your dreams.
Tip 1 – Think about the location
The location of the luxury waterfront property in South Florida is an especially important consideration. The view, proximity to boats, privacy of the property, and access to the water are just a few of the many things that can change your feelings about a location. It helps to speak to a South Florida luxury residential real estate attorney with knowledge of the area for advice on a particular location.
Tip 2 – Get financing early on
It’s important for to get financing early on in the process to avoid the headache of having to scrounge up last minute financing after you pick your property. Your loan might be also be large enough to be classified as a jumbo loan, and if that’s the case you will want to work with a South Florida luxury residential real estate attorney who can help you negotiate as low of an interest rate as possible.
Tip 3 – Get advice from a South Florida luxury residential real estate attorney
A South Florida luxury residential real estate attorney can offer you advice on all aspects of buying a luxury waterfront property in the area. There are unique considerations to bear in mind such as insurance costs, boat navigation, maintenance costs, traffic and more. A South Florida luxury residential real estate attorney can advise you on all of these aspects and help you find the perfect property.
Tip 4 – Check the insurance rates
Waterfront homes require special insurance that will normally cost more than other homes, so be sure to check the insurance rates for the property you are interested in. You will need extra coverage due to potential hurricane damage, so be prepared to pay more for insurance. You can get also advice on ways to reduce your property insurance costs from a South Florida real estate attorney.
Tip 5 – Plan out your total monthly bill
The costs for your mortgage, insurance, maintenance costs, and sometimes homeowners fees can quickly add up, so you should try to predict exactly how much your dream South Florida luxury waterfront property is going to cost you each month. An experienced South Florida luxury residential real estate attorney at Schecter Law can help you figure out what your total estimated costs will be for the properties you are interested in.