- Eric Craig
The Importance of Water on your Homestead
A real estate property can gain a significant amount of value from having live water on the property or being close to water features, but they can also create some special difficulties. Here are a few factors to consider if you're thinking about purchasing a property near a body of water.
Location: The place where the body of water is located is key. Properties with direct access to larger water bodies, like lakes, rivers, or creeks, are usually worth more compared to those with ponds or streams. Additionally, maintaining properties in places with a high water table or flooding issues can be more difficult during rainy periods. A knowledgeable real estate agent should be able to provide you with technical information regarding the site's elevation, flood history and other precautions that will prevent you from buying a piece of land that is literally underwater when it rains.
Access: It's crucial to take access to a water body into account when purchasing a property. A dock or private beach access can be a big selling point for a property, while restricted access could make it less appealing. A body of water that resides WITHIN your property is also a major win, so you’re not walking in or adding pump pipes all over your neighbor’s land to access the benefits of the water body.
Use: Think about how you intend to use the body of water. A property with a lake or river that is well-stocked with fish can be a fantastic choice if you enjoy fishing a lot. A property with a sizable pond or lake nearby will be more suitable for you if swimming and boating are more of your interests. For more remote, homestead-oriented properties, a running creek or spring is golden, as it provides a reliable source of water for gardening, livestock and sometimes even select domestic uses... Bonus points if the creek/spring runs year-round!
Maintenance: To keep certain bodies of water in excellent condition, regular maintenance is required. Debris removal, algae growth management, and upkeep of any buildings, like a dock or boathouse, fall under this category. A property with a water body might not be the greatest choice for you right now if you're not ready to take on these tasks. Some other bodies of water, like a stream, just need minor upkeep, such as cutting back the growing grass from the riverbanks or removing a downed tree from the creek before it rots.
Zoning and regulations: Before purchasing a property, be sure to research the local zoning laws and regulations regarding water bodies. A permit may be needed in some locations for activities like fishing or boating or there may be limitations on the width or depth of the water body. Applying for Water Rights within Idaho is an easy process, and your Realtor should be able to help with that process.
Insurance: Additional insurance protection against floods and other water-related damage may be needed for properties with water features. To make sure you have the coverage you require, be sure to verify with your insurance company.
In conclusion, finding a property or having a home with a body of water on it can be a dream come true, but it's vital to take all the variables into account before buying. Location, accessibility, use, upkeep, zoning, and insurance are all major elements. A water body can add value and years of enjoyment to your property with the correct property and careful maintenance.
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