Waterfront properties is the Greater Simcoe Muskoka region’s speciality, with plenty of location options in and around Simcoe County and Muskoka. If you’re interested in a waterfront residence or cottage Your North Life highlights some things to consider and some of the top locations to buy to get the most out of your dream lifestyle experience.
What You Need to Know:
Buying a waterfront residence or cottage, and buying a residential home are two different things. There’s a misconception that the purchase process is the same but there are many things to consider when buying a waterfront property.
The first thing you must do as the buyer is find a real estate agent that specializes in waterfront properties. These agents will have gone through specific training that encompasses zoning and codes, accessibility, search techniques, and so much more. They will be able to guide you through the process and be looking out for things that could affect you and the property down the road.
Are you thinking of adding a boathouse? Well before you start building you must consider how close it can be to the lake and whether a boathouse is permitted on this property. Zoning by-laws have rules and regulations that specify what a property can be used for and the location of buildings that can be constructed on that waterfront property.
Inspecting the property and structure is so important when purchasing waterfront properties. Weathering is more severe when a structure is on the water, and you are more exposed to storms. Things like corrosion and flooding are common to waterfront properties and can decrease the integrity of the structure. Having an expert inspection can help you understand what you’re looking at when buying in that location and things that could affect your property.
Consider the location when you buy a waterfront property. If you’d like to use it for water sports, swimming, and boating perhaps buying on a waterfront or larger lakefront is best suited for your lifestyle. It’s also important to note water safety in that area, is it murky, and will you be able to swim in it? If this is something that may not work, you may want to find a different location. If you’re someone who wants to just use the property for fishing or kayaking, buying along a smaller body of water will be best for this lifestyle.
Insurance requirements will also be different because of the increased risk of flood damage or natural disaster damage. Rates tend to be higher for waterfront properties and are something important to consider when making the decision to begin looking.
Lastly, are there any hidden costs involved? Some properties are on leased lots which may mean you have to lease the land itself that the structure is on. Property tax is typically higher, as well as bulkhead upkeep. Included in these hidden fees are things like utilities if the property is on a septic system and water well. Both things require upkeep and are additional hidden expenses to inquire about.
Once you have all the difficult stuff figured out, you can begin looking at where you would like to purchase your waterfront property. Your North Life has narrowed down some of the best locations to buy a waterfront property based on access to recreation and in-town amenities.
Where Are the Best Locations to Buy Waterfront Properties:
Lake Simcoe, Barrie
Lake Simcoe is a high-demand option for waterfront properties and supply is low. This location is desirable because it’s minutes away from Barrie’s amenities, a boat launch, and water sports opportunities are endless on this large waterfront.
Friday Harbour, Innisfil
Friday Harbour provides luxury-style living with waterfront island homes, condos, and penthouses. Island homes provide an oversized deck with a private dock, and beautiful view of the harbour.
Lake Couchiching
The beauty of Lake Couchiching is hard to compare, especially when Downtown Orillia’s vibrant restaurant scene is just minutes away. There’s a boat launch just minutes away and plenty of activities to enjoy on the water and downtown.
Lake of Bays
Lake of Bays provides an abundance of options to purchase waterfront and lakefront properties and cottages as it’s surrounded by 100 different lakes. Perfect for boating and water sports in the summer and ice fishing, and skating on the frozen lakefront in the winter. The township is a popular location for cottagers and the population triples in size during the summer months because of its easy access to recreation.
Victoria Harbour
It’s the perfect place for those looking for a slower-paced lifestyle, living by the water, or retirees because of its small-town charm. Many cottages are water access only, therefore they will have a lot of privacy and plenty of space for recreational activities.
The Greater Simcoe Muskoka region offers an exclusive lifestyle that can’t be found anywhere else. Visit the Your North Life website for more information about various listings in many of these areas mentioned above to get started on finding your dream waterfront property.
-The BDAR Team