6 Essential Considerations when Buying a Waterfront Property

Discover the hidden aspects that could impact your dream purchase.

Imagine stumbling upon a captivating listing of a waterfront property. You eagerly browse through enchanting images of the cottage and its breathtaking surroundings. As you calculate the convenience of the location, a surge of excitement washes over you as you realize the price is within reach. Could this be the long-awaited cottage you’ve been yearning for?

Before eagerly signing away your savings, it is crucial to conduct some additional research, especially if you plan on making any modifications to the property. Jennifer Linn, Sales and Client Success Manager at Parker Rose Custom Homes, and her team of professionals have generously shared invaluable insights to help buyers navigate the less obvious aspects of owning a waterfront property. Don’t be fooled by appearances, as perfection can sometimes bring unforeseen challenges.

Here are the key considerations they recommend you bear in mind when purchasing your waterfront oasis.

Understanding shoreline development and navigating restrictions and protecting the environment

When it comes to altering your shoreline, there are certain restrictions that you need to be aware of. Building structures and landscaping may be subject to regulations imposed by local conservation authorities. These authorities play a crucial role in ensuring that shoreline development does not lead to erosion or flooding in the surrounding area.

If your property falls within an environmental protection zone, there are limitations on activities such as tree cutting and building construction. These restrictions are in place to safeguard the health of the lake and preserve the natural ecosystem. Additionally, if you plan to build on the water, such as adding a boathouse, you may need to seek building permission from provincial or federal governments depending on the jurisdiction.

Protected areas and endangered species also come into play when purchasing a cottage. While an undeveloped wetland may seem appealing, it’s important to understand the type of wetland it is. Provincially significant wetlands, for example, can help prevent flooding and support endangered species. These wetlands come with a buffer zone that may extend onto your property, limiting your ability to build. Obtaining a building permit in such cases requires engagement with the conservation authority and submission of an environmental impact study which could take up to a year and approximately $7,500 in costs.

Invasive species pose another consideration for cottage owners. Each area may have its own set of resilient plants, foreign fish, or pesky insects that can cause problems. Doing thorough research before purchasing a property is essential to understanding the challenges you may face. Lake associations and online communities can provide valuable information on invasive species and any remediation efforts taken.

Aquatic weeds can spoil the enjoyment of your waterfront. However, removing these weeds may not be allowed in certain areas due to their impact on lake health. It’s important to check if you require a permit from local or federal water authorities before taking any action. Additionally, keep in mind that some activities like the use of herbicides or mechanical removal may not be supported by lake associations, affecting your relationship with neighboring cottage owners. To avoid the hassle of dealing with excessive weeds, prioritize properties with a natural shoreline rather than those with heavily fertilized lawns that contribute to the problem.

Water levels in reservoir lakes can change throughout the year. It’s crucial to be aware of how the lake’s management authority adjusts water levels, especially if you have a boat or dock. Neglecting to remove them in time could leave you stranded on dry land. Prior to purchasing a property, make sure to access resources that provide information on water levels.

Zoning bylaws and building permits can also pose challenges when buying a cottage. Building and renovation plans may need to adhere to local municipality zoning regulations, which may be uncertain until after purchasing the property. Delays in obtaining responses from planning departments can cause issues, as sellers are often unwilling to wait. Seeking information on zoning from conservation authorities for a small fee or working with a knowledgeable local realtor and lawyer can help navigate this complex process.

Ultimately, understanding the various factors involved in shoreline development and cottage ownership can help you make more informed decisions and avoid potential complications down the line. Relying on experienced professionals and conducting thorough research is essential for a successful and enjoyable cottage experience. The Parker Rose Custom Homes team and family of contractors and subs are here to help you build your dream Forever Lake Home!

References:

https://blog.herrealtors.com/post/6-tips-you-must-consider-when-planning-to-buy-a-waterfront-home

Keep These Things in Mind When Buying Waterfront Property

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