Lakes, rivers, oceans—waterfront properties are desirable just about anywhere. However, each type of water comes with its own advantages and disadvantages.
Lake
Pros:
Variety of choices: Canada has more lake area than any other country in the world, meaning that you’ll have plenty of options when looking for lakefront property.
Natural beauty: Lakefront properties, especially in Canada, are known for their scenic beauty. Waking up to a beautiful lake view is something that many people dream of.
Property appreciation: All waterfront properties tend to rise in value, and lakefront properties are no exception. Lakefront properties remain very desirable in any market.
Cons:
Possible restrictions: Not all lakes are created equal. Some lakes are too small for recreational activities like waterskiing, while others don’t have the ideal conditions for fishing. Not to mention there may be provincial regulations regarding what you can and cannot do.
Accessibility: Many lakefront properties are more remote or even completely isolated on islands. At best, you’ll need to travel quite a distance to get necessities, and at worst you’ll have to boat to access the property at all.
River
Pros:
A thriving environment: River properties are often located in areas with very diverse flora and fauna. You may get the chance to see animals and plants you can’t easily see elsewhere.
Relaxing atmosphere: For many, living in the quiet of the woods with only the sound of rushing water is an absolute dream. You can actively reduce stress levels when living near a river.
Chance for privacy: Many rivers are small and private, meaning that you won’t have an influx of tourists right in your backyard.
Cons:
Unwanted wildlife: Though you may enjoy much of the wildlife that a river has to offer, you’re likely not going to enjoy the mosquitoes, ticks, and mice that come with living in this type of area.
Potential for erosion: Your property may be eroded by the river or creek depending on the directions it’s flowing and how close it is to your property. In more serious instances, this can cause the collapse of buildings.
Flooding: River and creek areas can be prone to flooding, which can affect not just your home but the roads leading to it. If there’s an emergency, response time may be delayed.
Ocean
Pros:
Natural temperature control: Living near the ocean means you get to enjoy a fresh ocean breeze. This means you can crack open your windows during the warmer months and enjoy the heat the ocean releases during the winter. (Plus, you can enjoy the salty smells and the sound of waves crashing!)
Activities galore: Living near the ocean means you get to enjoy all the recreational activities! Oceans are vaster and more open than many lakes and rivers, allowing for all the room you need for your favourite activities.
Year-round living: Many beachfront properties are located in warmer climates, allowing you to live there year-round. If you don’t want to live there year-round, there’s another pro that comes with beachfront living...
Rental opportunities: Beachfront properties are in high demand, especially during the warmer months. If you like to travel during the year, you likely won’t have an issue renting out your beachfront home while you’re gone.
Cons:
Rising sea levels: Sea levels naturally move and shift over time, but climate change is exacerbating sea levels rising. If you plan to buy an oceanfront property, bring in a land surveyor to assess the stability of the shoreline.
Higher insurance rates: Oceanfront properties are prone to higher insurance rates due to the increased risk of weather damage. Additionally, that salty air will rust and weather everything faster than if you lived far away from the ocean.
Less privacy: Beaches will always be popular tourist attractions, so be aware that there may be flocks of people around your home during the warmer months (provided the beach near your home is a public one).
Sand. Sand everywhere: Living near the beach means that you’ll have to get accustomed to always vacuuming and sweeping up sand. C’est la vie!
Different types of waterfront properties will suit different buyers. If you’re looking at purchasing your dream waterfront cottage, make sure you choose a body of water that’s right for you!
