You’re looking for waterfront homes and St. Pete sounds like heaven, and it can be. Living at the water can be fun in the sun. Beach, boats, jet skis, sun. Sounds great, but there are things that you need to consider before buying your St. Pete waterfront home.
Start with flooding and hurricanes
You’ll need insurance for each. The west coast of Florida may not happen as often as the east coast, but they happen and often enough. Coverage for floods and hurricanes are not part of homeowners policies. If there is a hurricane and/or flooding, your homeowners won’t cover the damage. Having all 3 policies is necessary, and a necessary expense to consider.
Those floods and hurricanes also cause erosion. Whether your home is beachfront or just waterfront, erosion changes your property. If you benefit from eroded shorelines by being the depository, great for you, but what if you’re the property losing beach or waterfront? It changes your property value, and not for the better.
Keep in mind that while beachfront or waterfront property is more expensive, it also appreciates more than the less expensive properties further from the beach, or in communities without beachfront or waterfront. Whether you want to purchase a property as an investment or as your home, you never want to lose value.
Make sure that you have a home inspection by someone who is very familiar with waterfront and beachfront properties. They have special issues with water, humidity and salt damage beyond the usual home owning issues. Also get yourself familiar with ways to protect the home you’re looking to make your own from those same issues.
Don’t be afraid to make a waterfront home in St. Pete your own. Just know what you’ll be getting into!
If you are thinking about purchasing a St. Pete Waterfront home, give Deborah Ward and Associates a call today! 727-216-9247