Waterfront properties are unique with exceptional lifestyle potential whether you buy to use as a recreational cottage property or a permanent residence with a home and cottage in one investment.

A permanent residence on the lakeside is like living your life on a year-round vacation when you are home. Buyers looking for waterfront should do a lot of thinking and research before taking the plunge (so to speak!).

The Weeks Group, as Barrie real estate agents, have bought and sold waterfront properties for decades. Here are a few things you should know:

1. Choose The Right Realtor

This cannot be overstated.

Choosing the right realtor means finding a professional who is experienced in waterfront properties. That means hiring an agent who understands the unique nature of waterfront homes, the lifestyle, the value, the potential issues, restrictions, opportunities, and the features and locations that would most complement your unique set of wishes and needs.

Buying a home on the water is quite different than the average homebuying process. The average agent won’t have detailed knowledge of waterfront properties in your area and the factors that are very important to understand to help you find the best deal on a property that’s right for you, with no surprises.

There are a lot of pieces to the puzzle to consider in creating the right picture for your waterfront dreams and there is typically a lot more money on the table. Choose your negotiator carefully.

Do you have questions about selling a waterfront property? Read this post next.

2. Find The Right Waterfront Location

Choose a property that truly fits your needs and lifestyle.

Waterfront homes can offer beautiful views and a tranquil environment and be a source of many varieties of water-based fun. However, not all areas are created equal when it comes to waterfront living.

The neighbourhood or area is critical when considering waterfront living and many location-based factors depend on lifestyle needs. Proximity to urgent medical care is one example. Most people also want to have easy access to other amenities, like shopping and restaurants.

Does the neighbourhood have good parks, trails, and other recreational opportunities nearby? While private amenities and optional fun purchase additions for waterfront homes are great, having plenty of public amenities in the neighbourhood can improve quality of life and increase resale value when it comes time to sell.

There are also many property-based factors to be considered and will be dependent on buyer preferences. We need to understand how the sun acts throughout the day with the property.

As an example, some properties on a south shore with mature trees may not see the sun all day at the shore.

How important is seeing sunrise or sunset? We also need to understand how the currents move for many reasons, including debris at your shore or ice movement in winter, which can also impact break walls or boathouse.

Locks that open and close with different seasons can have a huge effect on water levels impacting docks and beach size and maintenance factors. It’s also important to research floodplain maps to ensure the neighbourhood is in a safe location.

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Is there a shore road allowance that may impact future plans or property use? What is the draught required for your choice of boat?

Is the water deep enough off the dock to accommodate your boat? What is the situation under the water at your shore?

Is it rocky (small or large), sandy, or weedy? How does this condition factor into your enjoyment of the water at the shore? With a lot of plant or algae species, they can absorb too much oxygen from a body of water, lowering the water quality and presenting harm to fish populations. This could lead to fishing being suspended in a lake until the invasive plant species are resolved. If it ever will be. Even if not pervasive, weeds can present an issue for boat motors. This leads to the next point to consider.

3. Consider the Lot and Location Before The House

With waterfront properties in general, the land is worth more than the house. You can change the house. This is an important point to factor into your thinking!

When considering lake homes, focus on the property features that matter most to you. Some essential factors include the size of the lot, proximity to the water, waterfront footage, views, privacy, and the availability of amenities like docks, boathouses, or private beaches.

Thinking about buying a home? Learn more about our custom approach to buying right here.

4. Find Out What You Can Do With The Property- And What You Can’t

Every property is a bit different when it’s on the lake, and each lake can be different.

It’s essential to learn about any applicable restrictions on use within that property. Each lake may have specific regulations regarding waterfront property usage, construction, and environmental conservation.

Familiarize yourself with these regulations to ensure that any plans you have for the property comply with local laws and ordinances. If you want to make any changes to your waterfront property, such as adding a dock or a break wall, start this process early to ensure that these alterations will be possible.

Government and conservation agencies can be very strict. Of necessity. The key to working with them is to establish a relationship where you understand their objectives and speak to them about your plans in consideration of what they are trying to protect.

We have had lots of experience here and being upfront but strategic is key. Find out about the restrictions around boathouses and alterations at the shore from the many involved sources including conservation authorities, or varied levels of government.

What kind of docking is allowed if any? Is there a water lot that would allow a permanent dock? Docks are one of the most common concerns. Can I build or change a dock? What are the boundaries of the shore ownership?

The answer to this question under Canadian law can depend a lot on where, exactly, the property is. The only thing that is certain under Canadian law is that the foreshore — the land beneath a body of water — belongs to the government unless a deed specifies otherwise.

Working with a real estate agent who knows the ins and outs of the law is essential. Read some of out client reviews right here to see how we’ve helped past clients.

The water levels of rivers and lakes rise and fall with the changing of the seasons. If the low-water mark determines a waterfront home’s boundary, that would mean that the property boundaries contract in spring when the water level rises and expand in summer when the water level goes down. If the high-water mark determines the boundary, it is fixed throughout the year.

However, soil erosion next to a body of water that results in a changing high watermark can reduce the size of the homeowner’s property over time. Some properties own what is most often called a waterlot. This is where you versus the government own the land under the water. So this could mean that a permanent dock could be built. But there will be restrictions on how and what materials used.

The province of Ontario passed a new law in 2020 called the Better for People, Smarter for Business Act. The law makes the rules governing the building of docks, single-storey boathouses and other essential purchases for waterfront homes much more lenient for homeowners. These structures are now considered a “free use” of the Crown’s foreshore, so no provincial permitting or leasing is required. This has not always been the case.

However, municipal or federal permitting may still be required for building a dock, boathouse, or other waterfront structure. Homeowners may still have to apply for a provincial work permit to build a structure such as a dock. If a structure like a dock or a boathouse touches less than 15 square metres of the foreshore (lake bottom), no work permit is required. A work permit is required if the structure touches more than 15 metres of the foreshore.

The new law also clarified regulations in Ontario related to structures fixed to a dock. For example, a gazebo or pergola built on the dock for shade is now legally considered part of the dock itself, rather than a separate structure.

5. Waterfront Properties As An Investment

While owning waterfront property can come with additional costs, maintenance, and challenges, but it also offers a variety of ways to maximize your ROI. Waterfront properties are often highly desirable rental properties. If you want to rent your property throughout the year, do some research on premium rental rates in your area and also very importantly if short-term rentals are permitted. Monthly rents are not regulated in most cases.

Discover the benefits of owning an investment property with this blog here.

Buying a lake home is a unique and exciting experience that can provide a lifetime of joy and relaxation. By defining your objectives, conducting thorough research, working with knowledgeable professionals, and carefully considering property features, regulations, and maintenance requirements, you can turn your dream of owning a lakefront property into a blissful reality. Remember to take your time, make well-informed decisions, and enjoy the journey of finding your perfect lake home. Happy house hunting!

If you’re thinking about buying a waterfront property, get in touch with us today. EMAIL US DIRECTLY AT HELLO@WEEKSGROUP.CA OR CALL US AT 705.305.4174 TODAY.