Waterfront homes 'have a downside'

Despite the continuing popularity of waterside houses confirming the truth in the "location, location, location" adage, one property expert claims they are not without their negative aspects.

Director of online property service Little House Nick Marr believes that, although sellers of waterfront properties can often "override" problems with a property through the benefits of location, they also face several issues.

"The downside is that many insurers will make you pay higher insurance fees [and] sea views may mean the property is at risk of corrosion from sea blast," he said.

A recent survey which was conducted by the Post Office which found buyers were willing to pay higher premiums for optimum locations.

According to Mr Marr, some waterside homes may be undervalued by certain mortgage companies that use Land Registry or postcode data as a basis for valuation, missing out key factors such as the desirability of a certain location.
 

Date : 02/09/2010
Category: Flooring home improvement news