The Lure of Water

The Lure of Water

It amazes me just how much the view of or access to water enhances the value of a property. People are willing to pay more, face hurricanes and typhoons and pay exorbitant prices for insurance just to be near water. What is it about the water?

Could it be the connection to the greater world? That could be the case on a navigable river or the ocean or inland waterway. What about these little mud-puddles in the middle of cities that are called ponds or lakes? Many of them are only breeding traps for mosquitoes. Could it be the energy that seems to come from the water? Could it be the restful feeling from watching the water or listening to the waves at night?

Whatever the reason, water adds value to property. It probably adds more than a garage or a deck and it requires no maintenance. Access to water is one of the things that is fueling today’s international second-home boom. Mexico, Central America and The Caribbean area are all benefiting. In Dubai the new developments involve building islands and increasing coastline. Developers in many areas are building lakes in their subdivisions and charging premiums for lake front and lake view lots. That is real value added.

How will climate change effect the water factor? Will previously water-front properties be dry or so dangerous that no one wants to live there? Will previously dry properties be water-front (or sea bottom)?

Do you want a property looking at or adjoining water? What is your motivation?


David Segrest is a REALTOR with Segrest International REALTORS. His webpage is http://www.segrestrealty.com