Your home on the waterfront has served you well over the years. However, if you feel like a change is in the air, selling can be a great way to empower your next great adventure. That might mean moving up to a bigger and even better home on a different lake or relocating back to the excitement of the city.
Fortunately, homes on the waterfront are in high demand with a host of eager buyers ready to upgrade their way of life. That said, it’s important to know that selling a waterfront home is a little different than a regular property. In this post, we’ll show you the ropes to help you make the most out of your upcoming transaction.
The Buyers Are Different
The details are mostly the same as any other transaction. The main difference is who your buyer will be. Chances are, you’re not attracting first-time home seekers or downsizers. Waterfront properties tend to come at a high price point, which almost certainly means your buyer will be fairly affluent, such as successful executives and wealthier families who are looking to elevate their lifestyle.
These house hunters may also have more real estate knowledge than the average buyer. This is not their first rodeo, so to speak. It may not even be their second. There’s a very good chance you have a seasoned buyer on your hands who knows exactly what they’re looking for and has the ability to negotiate to get what they want. If they’re not handling the transaction themselves, you can bet that they have a highly skilled real estate agent working on their behalf.
Why does any of this matter? Knowing who your buyer is will help formulate an extensive yet highly targeted marketing strategy. The more focused your approach, the more qualified buyers you will attract. Having an experienced real estate agent in your corner also won’t hurt!
Want to know more about buying or selling in Kawartha Lakes? Here is some related reading you will love:
- Selling a House in the Kawarthas? Here’s Why it’s Different
- Is Now A Good Time To Buy A Cottage In The Kawarthas?
- What Are the Fastest Growing Towns in Kawartha Lakes?
Maximizing Your Waterfront Appeal
When listing on the waterfront, always remember that you’re not just selling a home, you’re offering a new and upgraded way of life. Your real estate agent will be your one-stop resource for all things market related, such as how to price effectively and what upgrades can attract potential buyers. But when it comes to everything there is to love about your house and community, you are the real expert!
Start now by making a list of all the cool nuances about your home and yard, but don’t stop there. Think of all of the parks, unique shops, and other attractions that potential buyers will love as much as you do.
The Complexities of Selling on the Waterfront
With any other transaction, you can be reasonably sure that you own the house free and clear before putting it up for sale. That includes the land your house resides on. Waterfront properties are a little more complex from a legal perspective. For example, who owns the land adjacent to the water and the shoreline? Common sense dictates that’s part of the property title.
However, in Ontario, it’s basically illegal for anything to be that simple. Most waterfront lands are owned by the Province under the Beds of Navigable Waters Act. This typically includes the 20 metres between your property and the shore. In other words, you own the house and the water, but the Crown owns a portion of the sand.
Other legalities you may encounter are flood zones, land surveys, zoning restrictions, riparian rights, and more. An experienced real estate lawyer is necessary to know your rights at every step of your transaction.
Creating Your Selling Strategy
Now that you know who your likely buyer will be and the legal challenges of selling a waterfront property, you’re in a great position to promote your listing to potential buyers in search of the luxurious lakeside lifestyle. Your first step is to find a real estate agent familiar with the region and who understands the nuances of “untypical” transactions.
Next, you’ll want to prepare your home in a way that attracts potential buyers from all over. No matter how beautiful or well-kept your home may be, there are countless little ways to make it even more appealing. If your neighbour two doors down also decides to sell, you’ll need to ensure your listing stands out all the more. The steps to preparing a luxury waterfront home are similar to any other property. The trick is in taking every detail to the next level so it appeals even more to affluent buyers.
- A surface clean might cut it when selling a starter home. But when selling on the waterfront, don’t clean. Scrub! Every room should be absolutely spotless, with zero clutter to distract buyers from your beautiful home.
- Be meticulous about minor repairs and upgrades. Your home should have a well-maintained and attractive appearance throughout. A regular buyer may overlook inconsequential flaws like scuff marks and outdated hardware or lighting fixtures. However, these imperfections can be off-putting to a distinguishing house seeker.
- Stage your home to the nines. Once your home is clean and meticulous, effective staging inspires your buyer to dream about living their life on the waterfront.
Believe it or not, Kawartha Lakes is about more than stunning waterfronts! Learn more about this incredible region in the posts below:
- Dining in the Kawarthas: A Sneak Peek at the Best Restaurants
- The Joy of Cycling in Peterborough and the Kawarthas
- Think the Kawarthas Are Just for Summer Vacations? Think Again!
Why Buyers Love Kawartha Lakes
Ontario is full of beautiful waterfront communities, but Kawartha Lakes stands out amongst them all. Located just 90 minutes from downtown Peterborough, residents enjoy breathtaking scenery and luxurious living while all of the conveniences of city life are nearby.
The small towns surrounding the Kawarthas are full of charm and character, and have everything residents need to enjoy an elevated lifestyle all year round. Activities like snowshoeing and ice fishing in the winter and boating and swimming in the summer are just a few exciting adventures that await. And, of course, highly anticipated events like the Bobcaygeon Fair attract visitors from all over Southern Ontario! All of this is fantastic news for those affluent buyers searching for a beautiful home on the water just like yours.
Do you have questions about how to perfect your selling strategy for your waterfront home? We specialize in Peterborough and Kawartha Lakes and are happy to help. Reach out today to team@jeffandkatie.ca or call 705-243-9797 for more information.
