Will you be selling a waterfront property soon? If so, you should be well-armed with some top waterfront home-selling tips!
When it comes to waterfront homes, you would think they would essentially sell themselves. But in reality, only the idea of living on the water tends to get an automatic “yes.”
The actual homes can sometimes face considerable competition, which means that as a Realtor, you will have to bring your A-game to ensure the success of your sale.
Quite often, a waterfront property can also be considered a luxury home sale, especially if it is located on the ocean or a sizable lake where high-end homes are the norm rather than the exception.
More often than not, with a waterfront home, you are selling more than a structure but a lifestyle that goes along with it. Quite frequently, this can be just as important to a waterfront home buyer.
The real estate agent you hire must be well-versed in marketing a waterfront home. They will be well versed in standard home-selling procedures to get top dollar.
Keep reading for some of the best tips for selling a waterfront property.
The Key to Selling Waterfront Properties
1. Understand Who You are Selling to.
One of the most valuable waterfront home-selling tips is knowing who you are marketing to. Selling a waterfront property is much different than selling a traditional non-waterfront home. Most buyers looking at waterfront homes are doing so because of the body of water, whether it is an ocean or a lake.
Many of these buyers have a preconceived notion of what they want: a spectacular view, a private beach, or a place where they can put their boat in the water.
As a seller, you need to know your property’s “hot buttons” and market it accordingly.
The goal, of course, is to reach those buyers who want the same thing that turned you on to the home when you bought it. Understanding the buyer persona is very similar to selling a luxury property.
The real estate agent you are working with should also have a firm grasp of this. Remember, your agent will be the conduit to the buying public, so choose one wisely.
Many people make the mistake of picking a real estate agent without experience selling waterfront homes.
2. Price it Correctly.
The price you put on the home will make a massive difference in the success of your sale. If you price the house too high, it will sit on the market for an extended period and most likely develop a stigma.
The longer a home sits unsold, the more buyers assume something is wrong. Your home could be in perfect condition, but if it is priced so high it repels buyers, it can still develop a bad reputation.
Pricing too low can have problems, as you essentially leave money on the table, so you want to be careful to price it right.
Find the sweet spot based on a comparative market analysis and do your best to price the home competitively with similar homes in your area.
If your Realtor is having difficulty valuing your home, hiring a local appraiser may be worth it.
Waterfront properties often have unique features and fewer comparable sales, which can be challenging for the average real estate agent.
During my thirty-eight-year career selling homes in the Metrowest Mass area, I have often found numerous sellers who believe that because their home is on the water, it’s an open invitation to overprice the property. They frequently think the water “will carry the day,” so to speak.
Just like any other property, you need to price the home appropriately. Buyers are just as astute when buying a waterfront property—maybe more so in many cases. Someone purchasing a waterfront home will typically do endless research about the property. Their research often includes an in-depth understanding of the market and what these properties are fetching.
If your home is on a lake, they often ask many questions about lakefront living. Be prepared to answer them.
3. Understand the Waterfront Property Rights
When considering the sale of a waterfront property, it’s imperative to have a comprehensive understanding of the specific rights that come with it. These rights are often referred to as Littoral and Riparian rights. They play a crucial role in determining the extent of a property owner’s access to the water, the usage of the water, and the delineation of property boundaries.
Littoral rights typically apply to properties adjacent to stationary bodies of water, such as lakes and seas, granting owners the enjoyment of the shoreline and water usage.
Riparian rights, on the other hand, are associated with properties abutting flowing bodies of water like rivers and streams, focusing on access to and use of the water.
Given the complexity and variability of these rights, I recommend sellers know these particulars before listing for sale. This ensures that all pertinent legal matters, including any existing easements or restrictions, are clearly understood and communicated to potential buyers.
By doing so, sellers can avoid possible legal disputes. It also makes the property more attractive to informed buyers.
4. Disclose Flood Risk and Insurance Requirements
Selling a waterfront property requires disclosing any known flood risks and insurance requirements. Given the proximity to water, there is a higher risk of flooding, which can significantly impact its insurability and attractiveness to potential buyers.
I recommend sellers be transparent about the property’s flood zone designation and any history of flooding. A buyer will discover this anyway, so get it out in the open.
Providing information on flood insurance can be helpful to buyers and speed up the sale’s closing.
Understanding the costs and coverage options available is crucial in areas where flood insurance is mandated or highly recommended. Sellers should prepare this information in advance, possibly obtaining an elevation certificate to inform potential buyers better and facilitate smoother transactions.
5. Know Everything You Can About the Home.
Being able to price a home well compared to other homes in the area requires knowing the home inside and out. Understand how the location of the home factors into the price, and get accurate measurements of square footage, the size of the waterfront, frontage, and anything else that will make a significant difference in the price.
Remember to include any amenities that are part of the community that the waterfront home is a member of, like a clubhouse or a fitness center. Equally important, make sure you get accurate information about any amenities the house has privately, like a private dock, beach, or boathouse.
Again, you are trying to convey a lifestyle to the buyer pool for your home. Ensure your real estate agent puts together a feature sheet highlighting all the local amenities.
6. Maximize the Visibility and “Stage” the Waterfront.
You may have a fair amount of waterfront along your property, but potential buyers will only notice it if you have made it visible. If bushes and trees obstruct all of the views of the water, then you may want to consider trimming the foliage to make the water easier to see and enjoy.
Of course, you don’t want to chop down all the trees by your home, either, so just be careful. It may be best to hire a professional arborist or landscaper to determine how to maximize your view without ruining everything.
Realtors who have sold numerous waterfront properties will often offer suggestions on how best to stage the exterior surroundings.
For example, if you live on the ocean with a beach, a table with an umbrella, a few beach chairs, and a grill could go a long way in showcasing part of the outdoor lifestyle. You are trying to make it easy for the buyer to see themselves in your home.
If you live on a lake, you could do something similar, but maybe put your “toys” in full view of the dock, whether it is your canoe or jet ski.
7. Get a Home Inspection.
You may know a lot about waterfront homes, which will undoubtedly be helpful during sales. However, it is still to your benefit to bring in a professional home inspector to thoroughly evaluate the property.
A home inspector is trained to examine homes in your area and is best qualified to identify any possible issues with the home. Here are some great tips for picking a home inspector you will love.
Many buyers will have concerns about water intrusion when purchasing a waterfront property. Nothing can turn a sale sour quicker than water penetration into a home, and the concern is further heightened if there has been water at some point in the past.
Buyers want to feel confident they will not deal with a mold issue. A pre-listing home inspection will not only give you peace of mind but could also uncover issues you were not aware of that can be fixed before listing for sale.
Additionally, be prepared for the buyer to ask if your home requires flood insurance. If it does, make sure your real estate agent discloses this up-front. Buyers do not like surprises, and flood insurance can add a significant cost when buying a property on the water.
8. Enhancing Appeal and Accessibility
Maximizing the appeal of a waterfront home is critical to attracting potential buyers. This involves highlighting the intrinsic value of living by the water and ensuring that the property’s waterfront features are accessible and inviting.
I recommend professional landscaping to enhance the view of the water and clear any obstructions that might hinder access to the waterfront. Additionally, maintaining or upgrading docks, decks, and other waterfront amenities can significantly increase a property’s attractiveness.
I often counsel clients to stage the property to showcase the lifestyle it offers. For instance, setting up outdoor living spaces where potential buyers can envision themselves enjoying the waterfront can make a powerful impact.
Whether it’s a cozy fire pit by the lake or a comfortable seating area overlooking the ocean, these touches can help buyers connect emotionally with the property.
9. Have a Clear Marketing Strategy
Effective marketing is crucial for selling waterfront houses. This includes leveraging high-quality photography and video tours that highlight the property’s best waterfront features. Drone footage can offer breathtaking aerial views of the property, showcasing its proximity to the water and the beauty of its surroundings. Additionally, creating a compelling narrative around the waterfront lifestyle can help potential buyers envision their life in the property.
Sellers should also consider targeted marketing strategies that reach out to specific demographics likely to be interested in waterfront living. This could include advertising in boating or fishing magazines, utilizing social media platforms to reach a wider audience, and hosting open houses that allow potential buyers to experience the property firsthand.
10. Market with Exceptional Photography and Video Tours.
If you are an avid reader of my blog, you know how important photography is for selling a home. Having great photos is one of the things I preach over and over, whether you are selling a million-dollar home or a low-end condo. Your photography is the conduit to the world.
There is nothing that will turn a buyer away quicker than lousy photography. When selling a waterfront property, your exterior shots become a vital cog in your marketing machine. The lake or ocean you live on should be a significant part of your marketing!
Another vital selling tip for waterfront homes is using a professional video tour with a voice overlay to convey what is remarkable about living on your body of water.
While a well-done video tour can be a bit pricey, it is well worth it when selling a waterfront home. This comprehensive article offers more of the best marketing tips for selling a home.
Drone footage can offer breathtaking aerial views of the property, showcasing its proximity to the water and the beauty of its surroundings.
Another point that should not be missed is how important your real estate descriptions are to selling the home. While photos are king, your marketing narrative will be queen.
These are both essential aspects of selling a house, whether on the water or not.
11. Make Sure You Can Get to the Dock.
When buyers come to look at your home, they will almost always want to walk down to the dock. But if you don’t use the dock very often or have let the landscaping slack over the past few years, chances are some undergrowth will be in the way.
Bushes along coastal and lakefront areas are often rigid and eager to fill in gaps, so needing to trim them back is perfectly reasonable. Ensure you have cleared the way to the dock so anyone viewing the home can access it easily.
Always remember that the curb appeal with a waterfront property includes more than just the immediate area surrounding the home.
12. Repair the Dock if Necessary.
The new homeowner may never use the dock, but you can be confident that they will want to know it is functional before buying the home. The dock could be a big selling point for the property, so you will want to have it repaired if it has been damaged or degraded to unusable or unsafe.
You don’t have to renovate the dock if it’s unnecessary, but you do need to get it in good working order before trying to sell the home. Sometimes, a fresh coat of stain or paint will go a long way.
Looking for some dock inspiration? Check out these great docks from Houzz.
13. Make the Shoreline Accessible if Possible.
In the same way that the path to the dock can become overgrown, the path to the shoreline may also be grown up and complicated to use. If your shoreline is usable, you will want to clear the way to it so that potential buyers can see it for themselves. This is especially important when you have a small beach or path along the water.
A walk along your little beach may be the selling point that tips the scales!
14. Clean up the Shoreline.
If you have lived on the water for a long time, you know that the shoreline is constantly covered with wave residue. Trash, fishing line, floats, plastic bags—anything in the water may wind up on your shoreline.
While you know and expect a certain amount of litter, potential buyers have a different image in mind when they imagine their dream waterfront home. There is no trash in their dreams, so you should ensure no garbage when they view the home and the shoreline.
15. Focus on Curb Appeal – in Front and Along the Water.
Curb appeal is a significant selling point for any home. In the average neighborhood, improving curb appeal usually means mowing the grass, maintaining the landscaping, and cleaning up the front of the home so that anyone driving by sees the property in its best light.
With a waterfront home, you have two “curbs.” Cleaning up the waterfront side is just as important, maybe more so, than cleaning up the traditional curbside.
If you have a boat, you can take a few turns in front of your house on the water and see if you notice anything out of place or how to improve the home’s look.
You can take your real estate agent out with you and brainstorm about what changes you can make to attract potential buyers.
16. Clean the Windows.
The saying that a picture is worth a thousand words is valid when selling a waterfront property. Views should reign supreme!
Another simple thing you can do to improve the visibility of the waterfront is to clean your windows. Real Estate agents recommend all the time to make your windows sparkle. Doing so is even more important when selling a waterfront home.
Living along the water means your windows are going to get dirty. It’s just part of the package. Before buyers show up, though, ensure this isn’t the case with your home. It can help tremendously.
17. Hire a Realtor Who Knows Waterfront Properties.
As I mentioned, working with an agent who does an exceptional job with their real estate marketing is vital.
With a Realtor experienced in waterfront properties, you can significantly improve your odds of getting a reasonable price for your home. A good agent will know all of these waterfront home-selling tips and can customize his or her advice to your particular circumstances.
Hiring the right Realtor is always essential when marketing and selling waterfront properties!
Final Recap
Hopefully, you have enjoyed these thirteen tips for selling a waterfront property and can use the information to help you sell. Remember, you own a great asset that deserves maximum attention from someone who does an outstanding job!
Additional helpful home-selling resources
- How to make your home more appealing to buyers: Anita’s Corner provides helpful guidance on how to make a house more desirable to potential buyers.
- Sell your home for the most money: Lynn Pineda provides valuable tips to sell your house for top dollar.
- How to sell a home by owner via Maximum Real Estate Exposure.
Use these additional resources to make your waterfront home sale more successful. Best of luck!
About the Author: The above Real Estate information on tips for selling a waterfront property was provided by Bill Gassett, a nationally recognized leader in his field. Bill has expertise in mortgages, financing, moving, home improvement, and general real estate.
Learn more about Bill Gassett and the publications in which he has been featured. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-625-0191. For the past 38+ years, Bill has helped people move in and out of Metrowest towns.
Are you thinking of selling your home? I am passionate about real estate and love sharing my marketing expertise!
I service Real Estate Sales in the following Metrowest MA towns: Ashland, Bellingham, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northborough, Northbridge, Shrewsbury, Southborough, Sutton, Wayland, Westborough, Whitinsville, Worcester, Upton, and Uxbridge Massachusetts.
