The Benefits of Choosing a Waterfront Home Near Edmonton

July 12, 2022 4:47 pm Published by Terry Paranych Real Estate Group

From unlimited recreational opportunities to amazing views, there’s nothing quite like life near the water. In fact, waterfront homes near Edmonton are considered some of the city’s most desirable real estate offerings – and with so many benefits in tow, it’s not hard to see why.

Here are seven benefits to look forward to when purchasing a waterfront home near Edmonton.

Waterfront Living Defined

Waterfront living can be defined as any home or real estate holding overlooking a body of water. While this often conjures images of cozy cabins by the lake (you’re not wrong!), waterfront homes can include everything from luxury condos overlooking the North Saskatchewan River Valley to any one of Edmonton’s scenic stormwater pond communities. In many instances, waterfront properties are not just about purchasing a beautiful new home but buying into a specific, recreation-friendly lifestyle.

Benefit 1 = Water Activities

Of course, one of the main reasons home buyers opt for a waterfront home is its immeasurable recreation potential. For instance, rural lakeside homes may provide plenty of options for fishing, boating, kayaking and swimming. Urban resort-style communities such as Summerside or Jensen Lakes may also offer many of the same opportunities in addition to man-made beaches, community clubhouses, shoreside amenities (volleyball, picnic areas) and more.

Check out: Edmonton Community Spotlight: Summerside in Southeast Edmonton

Benefit 2 = Your Choice of Home Style

Edmonton’s waterfront homes come in all shapes and sizes, from low-maintenance apartment-style condos to expansive luxury estates. Depending on what you’re looking for, waterfront properties are an excellent choice for active families, downsizers, retirees, real estate investors and more:

Acreage Properties – Acreage properties offer panoramic prairie views and plenty of room to grow. In addition, they provide tons of privacy and more space to indulge in activities that may prove next to impossible while living in the city (i.e. the ability to do more with your property with fewer restrictions, potential to own larger animals, etc.).

Luxury Properties – Luxury homes are also typical among Edmonton waterfront homes. Priced at $1 million and up, these high-end homes often come equipped with multiple bedrooms and bathrooms, lavish features and finishes (i.e., chef-inspired kitchens, spa-like ensuites, multi-car garages, etc.) and ample amounts of square footage.

Custom Builds – From lot size to waterfront location, a custom build will allow you to design your home from the ground up. Talk to your REALTOR® about vacant waterfront lots for sale in and around Edmonton or consider purchasing a pre-built custom waterfront home in any of Edmonton’s neighbouring estate communities.

See: New Construction Homes For Sale in Edmonton

Anything and Everything – Varying by price point, size and style, Edmonton and area waterfront homes may include manufactured homes, bungalows, bi-levels, one and a half and two-storey models and more. No matter what you’re looking for, Edmonton and area offer a vast array of detached waterfront home opportunities.

Benefit 3 = Nearby Amenities

While rural Edmonton waterfront homes offer more space and privacy, they’re anything but remote. With so many properties to choose from, you have the freedom to decide how near (or far) you’d like to be from the hustle and bustle of big-city life. Overall, most waterfront homes sit within a reasonable distance of shops and services, schools, and other desirable amenities via the greater City of Edmonton or its surrounding bedroom communities.

Benefit 4 = Incredible Views

Yet another significant benefit of choosing a waterfront home is the pristine views that come with it. Imagine snuggling up on your front porch as you watch birds land on a sunset lake. Or sipping your morning coffee as you take in all the natural wonders of the North Saskatchewan River Valley. Regardless of which waterfront home style is right for you, unadulterated views are simply part of the package.

Benefit 5 = Build Your Perfect Home

Build your dream home by purchasing one of Edmonton and area’s many vacant waterfront lots. In addition to lot size and location, building from scratch will allow you to design your home down to the last detail. From private piers and beaches to ample square footage and modern finishes, the possibilities are endless! Even better, rural lots tend to be more affordable than their urban counterparts, which are subject to heavier competition and inflation.

Benefit 6 = A Fantastic Investment

Waterfront homes will almost always have higher rental potential than properties lacking a water view. As a result, they come with some significant passive income potential as a rental property or even as an Airbnb. Waterfront properties also tend to retain their value longer than homes in the city while appreciating over time. In short, waterfront homes are almost always a worthwhile investment, guaranteed to deliver plenty of bang for your buck come sale time.

The primary factors that determine a waterfront property’s overall value include:

View
Proximity to water
Water access (dock, pier, etc.)
Location
Accessibility to amenities
Physical characteristics
Surrounding properties
Etc.

Benefit 7 = A Boost For Your Mental and Physical Health

Having access to an endless array of outdoor recreational amenities provides a boost to your physical and mental health. Not only will you enjoy improved air quality, but you may also benefit from reduced stress levels, improved mood and the increased overall longevity that can only come from life along the water.

Key Things to Consider When Buying a Waterfront Home

While plenty of perks come with purchasing a waterfront home, these properties also come with their own unique set of challenges. Here are a few things to consider beforehand:

Riparian Rights – Riparian rights refer to the legal rights of waterfront property owners to access and use an adjoining body of water. These rights may also entitle the owner to unobstructed views of

the water and the right to build a dock or pier. As riparian rights may vary by property, be sure to consult with your REALTOR® in advance.

Water Property Types – In addition to waterfront properties (having frontage along the water), water property types may also consist of “water view” and “water access.” Water view is just that, though what is considered a “view” will vary. Water access implies access to the water through an easement or community amenity (i.e. Lake Summerside in Southeast Edmonton).

Insurance Requirements – As waterfront homes face an increased risk of flood damage and exposure to the elements, insurance policies and premiums can be costly. Talk to a qualified insurance provider in advance for a quote.

Research the Water… – How deep is the water? Is it safe for boating? Swimming? What sorts of watercraft are permitted? Is the body of water in a protected area or wetland? As these are a few of many factors that can affect how you use and enjoy your property, it’s critical to do a little digging ahead of time.

…And the Shoreline – Speaking of research, we also recommend looking into the shoreline’s history and future. Depending on water levels, you may end up underwater or find yourself a long way from the water’s edge.

A Thorough Home Inspection – Here again, waterfront homes are often more susceptible to water damage, inclement weather and more. For this reason, we recommend getting a thorough home inspection, elevation certificates, water quality tests, and any additional assessments needed to ensure you know what you’re getting into.

See: 6 Reasons to Get an Inspection Before You Buy a Home

Financing – As with any home purchase, knowing what you can afford is crucial before you hit the market. Most waterfront home sellers will only consider offers from pre-approved buyers, making this an important first step along your waterfront home buying journey.

Note: Waterfront homes exceeding $1 million will require a down payment of at least 20%

Homeowner’s Associations – Some waterfront homes and their surrounding communities are governed by a homeowner’s association which may oversee grounds maintenance and upkeep of common areas (including the water) for a fee. The association may also restrict what waterfront homeowners can or can’t do with their property.

Maintenance – Waterfront homes may also require more maintenance than the average property. For instance, many waterfront homes are located on large lots or acreages. As such, owners should be prepared to do more mowing, snow removal and landscaping. These everyday tasks may also require specialized equipment such as a ride-on lawnmower, power tools, etc. Other unique tasks may include additional deck, roof and siding maintenance.

Hidden Costs – Some waterfront lots may belong to the municipal or federal government – in which case, you will be required to pay a monthly or annual lease. Other “hidden” expenses may include:

Property taxes – Property taxes tend to be higher for waterfront homes
Boat docks – Costs associated with building, maintenance and repair
Septic tanks, wells and cisterns – Remote waterfront homes may require separate water delivery and treatment systems. Owners may need to treat and empty septic tanks, wells and cisterns as needed.

Check out: The Additional Costs You Need to Prepare For When Buying a Home

Staying Connected – Depending on your waterfront home’s location, staying connected may pose a challenge. Rural properties may require a wireless data hub to ensure reliable phone and internet service.

Waste Removal Collection – Depending on where your waterfront home is located, you may need to look after your own waste disposal. Alternatively, waste removal may also be overseen by your local homeowner’s association or via a subscription through the county for an additional fee.

Get to Know the Neighbours – Talking to other local homeowners will give you additional insight into the property. They can fill you in on potential problems (i.e. water-related issues, rules and restrictions, etc.) and what they enjoy about living in the area.

Notable Edmonton and Area River and Lakefront Communities:

Below are just a few of many water-friendly neighbourhoods located throughout Edmonton and the surrounding area:

Finding the Right REALTOR®

When looking for the right waterfront property to call home, working with a qualified professional who understands the Edmonton waterfront home market is essential. As one of Edmonton’s leading waterfront real estate teams, the Terry Paranych Real Estate Group has the skills, professionalism, and experience to guide you on your home buying journey from start to finish:

Determining your waterfront home wants and needs
Getting pre-approved for the right mortgage
Finding the right waterfront home
Making an offer
Negotiating with waterfront home sellers
Navigating paperwork and purchase details
And more!

For more information, see: The Top 4 Realtor Myths Debunked

Check out our latest listings for more information on waterfront homes in and around the capital region. We also invite you to take advantage of any one of our FREE home buying resources, including:

The Terry Paranych Group Dream Home Finder: Make your new luxury home dream a reality with the help of our personalized Dream Home Finder.

20 Common Mistakes To Avoid When Buying A Home – There’s a lot to think about when buying a home. For this reason, it’s easy to make costly mistakes that can easily be avoided. Our helpful guide will help you prevent potential pitfalls.

Your Ultimate Guide to Edmonton Real Estate – This fully comprehensive eBook offers detailed information on every quadrant in Edmonton and the communities therein., From home styles and features to amenities and pricing, you’ll find it all in this helpful guide.

Photo credits: shutterstock.com

Tags: spotlight

Categorised in: Communities, Home Styles

This post was written by Terry Paranych Real Estate Group