If you have your sights set on a waterfront property, you might need to do a lot more preparation than other buyers. There are a few unique issues that concern these sought-after properties and it pays to understand them before you put in an offer. Read on and find out about what you should know before you get started on your waterfront home search.
Not all waterfront properties are created equal – There is waterfront and then there is waterfront.
You want to buy a luxury house, and you've been saving your money for a decent down payment so you can get the house of your dreams. Your problem isn't that you cannot find a luxury home to call your own, your problem is that you have too many options. Which house to choose? After all, once you buy, you have this house for a long time, possibly as a forever home, and you want to make sure you make the correct choice.
If you're like many people who've had a bit of bad financial luck in your time, you probably believe that home ownership isn't an option for you. Perhaps you've filed bankruptcy in the past, have less than a perfect credit score, or simply can't save up the required down payment. Fortunately, you do have options concerning home ownership that you may not be aware of. For instance, the U.S. Department of Agriculture (USDA) has a home loan program targeted toward those who can't qualify for mortgages with traditional lenders.