Greenbook: A Local Guide to Chesapeake Living - Issue 3 | Page 60

WATERFRONT

Waterfront
Property

THE GOOD, THE BAD, THE UGLY

BY DENNIS THOMPSON
J. MELVIN PROPERTIES
ANNAPOLISWATERFRONT.INFO

W

ith more than 500 miles of shoreline and water
frontage along the Chesapeake Bay and its
tributaries, looking for THE PERFECT WATERFRONT
can be daunting. Applying 12+ years of helping waterfront
buyers and sellers, here are just a few waterfront aspects
that I have found to be significant when determining a good
waterfront and, more importantly, a great investment for the
future.

GREENBOOK | JUNE ~ JULY 2014

Budget: We have to start with budget, because everyone has one. The
difference when discussing waterfront is understanding the impact being
waterfront has on the pricing of a property. Sometimes clients look at me
like I must be crazy when I tell them a great waterfront lot can sell in
excess of a million dollars just for the lot! Like anything else for sale, if it’s
rare, it’s worth more. Add to that the “Location, Location, Location” adage
about buying in the best community and the effect it has to pricing. Good

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waterfront in a good community is
going to cost significantly more, and
we haven’t even walked in the house
yet.
Quality House vs. Quality Waterfront:
You have heard me say it before, and
you will hear me say it again and
again - “You can change the house,
but you can’t change the waterfront.”
Buyers are programmed to judge a
property by what they like or don’t
like about the house. Does it have an
updated kitchen or bathroom? Are
there hardwood floors? Does it have
a garage?