Belvedere is a residential community on the San Francisco Bay in Northern California. It consists of two islands and a lagoon. Tiburon lies nearby and provides residents with restaurants, shops, and essential services.
If you’re looking to buy waterfront property in this gorgeous waterfront oasis, here are some essential points to know before finalizing a purchase.
Keep this in mind when buying waterfront property
Which waterfront suits you
Generally, waterfront property amongst Belvedere and Tiburon homes for sale describes any land that lies on the edge of a body of water, whether it’s a lake, gulf, river, lagoon, peninsula, inlet, or ocean. Potential home buyers must define what they want before investing in waterfront property. Some points to ponder include:
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Do you want a lake house?
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Do you want a property with an adjoining beachfront?
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Do you want adjacent clear water or murky water?
Know precisely what the property consists of
Even if you come across your dream home amongst Belvedere Tiburon homes for sale, do your due diligence via a thorough home inspection before committing to a purchase. This analysis includes (but is not limited to):
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Land surveys
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Elevation certifications
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Water quality tests
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Wetlands delineations
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Flood zone surveys
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Bulkhead inspections
These tests and surveys will help ensure your property is safe and sound. Also, consider the findings and how they relate to the future building. Unless you're 100% certain you'll never want to build on your property, you'll need to know what it can withstand in terms of expansion or remodel.
Verify insurance requirements
Historically, insurance is more expensive for waterfront Belvedere and Tiburon homes for sale than non-waterfront properties simply because of the potential damage and wear a house will endure because of its proximity to the water, sand, and the elements.
Employ an insurance specialist with experience in waterfront properties so you can be protected against weather, an Act of God, and flooding. Flood insurance is almost always required of waterfront properties, in the same way earthquake insurance is required of properties in California.
Be prepared for hidden costs
Waterfront property has many hidden costs that traditional properties do not. For one, you may have to lease the land your home lies on because the municipal or federal government might own the lake or shoreline. Whoever the owner, you'll have to enter a lease agreement that could cost $200-$500 per month for the length of the lease, which could run 20-100 years. Check when the lease is up for renewal because lease rates often increase at that time.
If you lease the land, you probably won’t pay property taxes, but if you own the land, these taxes are higher than those needed for non-waterfront properties.
Insurance rates will also be higher on waterfront property due to the increased exposure to the elements, and, as noted above, you'll need flood insurance.
Another expense involves paying for the maintenance and upkeep of the bulkhead, which is the barrier between the water and the land. Before you purchase your home, ensure a thorough inspection of the bulkhead so you know what it is, where it is, and what your liability is.
Utilities can be an added expense, especially if your waterfront home lies in a secluded or rural area. Given that power, water, cable, and other utilities are available, they will come at a premium because of your location. You may even have to invest in developing wells or septic systems for a property without access to public utilities.
Lastly, waterfront properties can be part of a Homeowner’s Association, which harbors monthly fees and control over residents' remodeling plans, displays, and expansion plans.
Ensure the dock or any other attachments to your property are permitted
Don’t assume that the dock or other attachment is properly permitted or that you’re even allowed to use it, even if you own the property. Your realtor or legal counsel can assist in determining whether your dock/attachment is legally permitted and if you are allowed to use it.
Verify that your property extends to the edge of the water
Never assume that it does! In many cases, waterfront properties’ lot lines do not extend to the water’s edge and could be separated by a strip of land that someone else owns. Your legal counsel can help you check your property deed’s legal description and plat map to find the borders of your property.
Research the history of the shoreline
Speak with your neighbors to unearth any problems they’ve faced with the shoreline. Do some due diligence online to see if your home-to-be is considered safe and sound or if there could be rising tides that flood it or carry it away after torrential rain.
Partner with a local real estate agent
Local realtors are eager to help you purchase waterfront Belvedere Tiburon real estate. When you’re ready to take the next step, reach out to one of the trusted agents on the Nadine & Camara Team for assistance.
