The Price of Paradise

Dream homes are often envisioned as being on a waterfront. However, with shoreline erosion, among other climate change effects, shoreline properties can come with major concerns. It’s not uncommon for homes to erode right into the water. Still, that doesn’t prevent some from buying their dream shoreline property. If a home on the water is something you are considering, read on.

Insurance — Do your research to find out what coverage is available for homes on a waterfront, including anything related to erosion and flooding, and check with the insurer about any special requirements.

Get professional advice — Get a structural engineering report and a geological survey of the property. Find out how close the property is projected to be to the water during the time you plan on living there, and beyond.

Be prepared to spend $$$$ to protect your piece of paradise — This may include moving your home back from the shoreline, breakers, retaining walls, or bringing in sand to slow erosion.

Ultimately, being aware of the risks a shoreline property may face with erosion and taking professional advice on how to manage those risks, will be the wisest way to make a shoreline property homebuying decision.