Is Waterside Your Idea of a Dream Home

The appeal of a peaceful, waterfront home can be very desirable. The regeneration of old industrial sites in towns and cities throughout the UK has created some of the most prized and trendy locations. It’s a utopian dream for some buyers to own one – sometimes as a second home!

Here are some tips and advice from the property team at mosshaselhurst should you be thinking of investing in one:

• Ensure the asking price is realistic, especially for coastal locations (where prices have been dropping). Obtain a written, independent current market valuation from a local surveyor.
• Be aware that whilst mooring rights might sound like a perk, there is often red tape involved which can make mooring rights costly. Legally, you might be obliged to maintain the riverbed and banks – and the water will usually almost constantly erode the bank meaning that you must protect it properly with steel shuttering. You must also clear rubbish and debris from the bank – even if it is not yours! Be sure to check this point beforehand.
• If the property has fishing rights, you will still need to buy an annual licence – and if you have a boat and want landing rights, these will require additional formal consents and licences (for which more fees and costs are usually attached!)
• Beware of boats which are sometimes hired for private trips and parties. In some areas, the fashionable ‘disco-boat’ means you may wish to choose the location of your waterside property carefully, as no-one wants regular, loud party-goers passing by at night - nor holiday makers peering in throughout the day!
• There is also the question of flooding. Flooding should be a concern for anyone buying a house near water. Check the flood maps carefully (this can be done on line at www.environment-agency.gov.uk) and call the floodline for advice on 0845 9881188. Also make sure from the outset that buildings insurance for the property is available at normal rates without high excesses by telephoning two or three different insurance companies for quotes.
• Quiz your Sellers and their Estate Agent carefully, as they are duty-bound to answer all of your questions and queries honestly. Do this through your solicitor as well to ensure that written replies are obtained and checked on your behalf.