Things to know about riverfront properties
There are few types of property that offer as many potential problems or as much delight as riverfront property. It might be difficult to choose a property that meets your family’s needs while also appreciating in value over time. This guide will walk you through some of the most critical considerations to make when buying riverside property.
Price
Let’s get right to the point. Trying to figure out what a riverfront property is worth is more of an art than a science. In many parts of the market, a buyer might obtain a reasonably decent notion of the subject’s value by looking at 10 other nearly identical properties in a nearly equivalent situation. Regrettably, we’re dealing with properties that may be unlike those that have sold in recent years. However, there are a number of elements that have a direct impact on the value of a riverfront property that do not affect the value of a typical residential home. We’ll go over a few of these features in order of how important they are to the property’s worth. The property will cost more if it has more of these characteristics. If a buyer has an unlimited budget, they will almost certainly seek out a property that possesses the finest of each of these characteristics. If you’re on a budget, you’ll have to prioritize which qualities are most important to you. Remember that “one man’s garbage is truly another man’s treasure” when reading this. Each buyer has their own preferences, and it is up to them to pick which home is ideal for them.
Privacy
The majority of purchasers in our market want to escape the crowds they see on a daily basis. In order to provide seclusion, a property does not have to be a vast acreage parcel, but smaller parcels are more typically found in areas with greater development.
Structure’s Quality
When we talk about the structural quality of a property, we’re talking about the building’s aesthetics as well as the mechanical framework. The average buyer seeks a home that requires little or no labor to enjoy. The term “turn-key” conjures up memories of weekends spent in waders rather than laboring in the cabin. With severe zoning laws in place on many of the rivers, a property’s future potential may have an impact on its value. A small site with an old cabin that now falls inside contemporary building setbacks may eliminate the possibility of adding on to the structure or building a garage or additional building.
Frontage
Because rivers meander, it’s fairly uncommon to come across a piece of land that appears to have a lot of frontages but is actually rather small. This is most likely due to the frontage being computed using the river’s meanders rather than the land’s width. On the other hand, there is a vast lot where the river cuts through only one little corner. The most valued property will be one that is generally square and has frontage on all sides.
Land that can be used
Most rivers pass through lowland areas on their way to the sea. As a result, many of the properties you’ll visit feature at least a little amount of wetland. A buyer may see an ad for 40 acres with a home on the river for a very appealing price, only to discover that 37 of those acres are so thick and wet that bear, porcupine, and beaver are the only animals that live there. A great, dry 7-acre parcel with good frontage and a comparable house could be worth more.
Views of the Water
This is one of those traits that is tough to value. If a buyer sees a property with a stunning view of the river, they’re more inclined to spend top cash. Most consumers buy based on emotion, and there is nothing like running water to elicit that emotion. “I’ll know it when I see it,” we often hear, and it certainly implies that the “feeling” of a property can be just as appealing as the worth on paper.
Quality of Fishing
Whether you’re a fisherman or not, the quality of a trout fishery has a direct impact on the value of properties along that river. Fly anglers on rivers known for their trout fisheries are the largest category of purchasers who influence the riverfront industry. “Flies only” sections of the river are open to fishing all year, extending the season well into the fall and early spring, making these sections more desired to anglers and hence more valuable in general.
Location
If all other factors are equal, a property accessible through a paved, county-maintained road will be more valuable to the average buyer than one accessible via miles of seasonal two-track.
Traffic in Canoes
It’s crucial to remember that many of the criteria that go into determining a property’s worth are based on a person’s perception of an issue rather than the actuality of the situation. Having said that, the majority of canoe and kayak users are pleasant and respectable individuals simply looking to enjoy the outdoors. There are only a few rivers and only a few times of year when the number and behavior of river users can be regarded a real concern or have an impact on a property’s value. Rivers and portions of rivers with little canoe traffic, on the other hand, regularly sell for more money than those in “heavy traffic” areas.
Easements for Conservation
Many landowners have recorded a document called a Conservation Easement with the county records office defining the property’s limitations in order to protect their land from further development. Most conservation easements limit how many times a big tract of land can be divided by future owners, but there are a variety of other restrictions that can be imposed on a site. When you’ve decided to buy a house, go over all of the documentation listed on the title insurance policy to see if there are any conservation easements in place that the previous owner may have placed in place.
Restrictions on Deeds
While a conservation easement is a type of deed restriction, any landowner has the legal right to restrict future use of their property in any way they see fit.
This list may appear to be a daunting list of things to think about! The process, on the other hand, should be, and often is, a time of great enthusiasm and fun. We feel ourselves extremely fortunate to be able to describe a day spent looking at lovely land along some of the country’s most stunning streams as “job.” We hope you would contact us if you have any additional questions about a river property you are interested in purchasing. Good luck with your hunt and have fun along the way!