Florida is synonymous with fun, sun, and water.  

Are you looking to relocate or retire and are considering Lakewood Ranch, FL?

Located just minutes outside the cities of Sarasota and Bradenton, on the west "sunshine coast" of Florida, this luxury area also offers gorgeous waterfront property opportunities.

When you purchase a waterfront home, you're investing in a life of convenience, happiness, and luxury.

Keep reading to uncover 9 buying tips for choosing a picturesque waterfront property that meets your needs and budget while also exceeding your expectations!

1. View It as an Investment

Purchasing waterfront property will cost more than buying a home or property inland thanks to its gorgeous views.

Instead of getting sticker shock when pricing Lakewood Ranch FL waterfront homes, consider your purchase an investment. Waterfront homes notoriously appreciate at a greater rate than inland properties.

If you sell at the right time in the future you could make a hefty ROI.

Are you using your waterfront home as a rental? Properties with water views are always in high demand, meaning you can charge higher rates and boost your income. 

2. Consider Your Lifestyle

A luxury lifestyle and owning waterfront property in Lakewood Ranch FL go hand-in-hand. When choosing the perfect waterfront home, consider what you'll use the house for.

Do you and your family enjoy boating? Do you want an oversized dock for entertaining? 

Fishing, canoeing, and kayaking are also popular pastimes for waterfront homeowners. If you prefer deep-sea fishing, calculate how far the property is from the ocean.

Lakewood Ranch is only a 25 to 35-minute drive from some of Florida's most gorgeous beaches including Siesta Key

These are attractive features for both you as a homeowner and for prospective renters.

Waterfront Property

3. How Often Will You Use It?

Are you purchasing waterfront property as your forever home or will it be a rental property? Convenience is key if you plan to live in Lakewood Ranch full-time.

Close proximity to the cities of Bradenton and Sarasota means plenty of things to do and see. Your luxury home will be conveniently located near shopping centers, grocery stores, and major highways.

Waterfront property offers you the best of both worlds by also providing an escape from the busy city life. 

4. The Location vs. the Structure

Location, location, location. And we aren't just talking about your geographical location.

When considering waterfront property in Lakewood Ranch, evaluate the land itself as well as the structure.

Of course, you want a beautiful, custom home, but the main attraction of a waterfront home is the landscape itself. Evaluate the walk from the house to the water's edge, the condition of the dock, and water access.

Remember, you can always change the house but you can't do much about the property. Make sure it's comfortable and conducive to your lifestyle. 

You also need to determine where the property line ends. Some waterfront homes have a strip of land between your property line and the water's edge that someone else owns. 

5. Research Insurance Requirements

While almost no waterfront homes in Lakewood Ranch require flood insurance, it's a different story if you are looking near the rivers or Gulf of Mexico. Flood insurance can be quite expensive and is typically separate from your normal homeowner's insurance policy. 

The builder or realtor you choose can help determine if your waterfront property is in a flood zone. A qualified insurance agent can then give you an accurate quote to protect your new home. 

Several factors determine the cost of flood insurance including risk, the deductible, and the type of coverage you choose (building and contents).

6. Waterfront Property that Withstands the Elements

One of the only downsides to owning waterfront property in Florida is the risk of hurricanes and other natural disasters (which is why you need flood insurance).

In addition to financially protecting your home with insurance coverage, you want to make sure the home itself is built to standards.

Homes built on stilts, hurricane-proof glass and shutters, a metal roof, and stainless steel accents and accessories are all wise choices for waterfront homes.

Luckily, the waterfront homes in Lakewood Ranch are on lakes, so we don't have a lot of the concerns that our gulf-front residents do.

7. Calculate Additional Fees 

When purchasing a new home, it's important to consider more than just the listing price. Waterfront homes come with their own set of additional fees.

Property taxes are often higher on waterfront property. For homes on boat water you have to consider the maintenance and replacement of sea walls. Docks and boat lifts also add to the overall cost of ownership.

8. Consider the Changing Environment 

In addition to weather, natural wear and tear and environmental changes are major considerations for waterfront property owners. 

Research the shoreline's history. Erosion and changes in the tides could take your home from being on the water's edge to being underwater or a quarter of a mile away! 

While you can't predict the future, investigating the area will help you make an informed decision. 

9. Understand the Responsibilities of Owning Waterfront Property 

Owning property in Lakewood Ranch FL also means the added responsibility of home owner's association payments, community development district fees.

HOA membership includes monthly or annual fees and other restrictions. You may also need to maintain your property in accordance with specific guidelines and requirements.

Discover the Waterfront Property of Your Dreams

Have you been dreaming of living on the water, near the beach, or in a lakefront community? Lakewood Ranch, Florida has loads of gorgeous waterfront homes to choose from.

Whether you're purchasing a home for your family or a rental property, we can help. Browse available homes here based on your needs, preference, and budget, and get swept away by the beauty of Lakewood Ranch.