Does a boat dock actually increase home value?
For many, homes are much more than a place to stay at night or somewhere to raise a family. They are investments that require upkeep and improvements over time.
If you do this, then, ideally, the value of your home will increase as time passes. Should you ever want to sell, then you will get more for your house than what you originally bought it for.
The trick is to put your money toward the right projects and improvements to maximize just how much of a return on that investment you receive if you do decide to sell at some point.
For lake house owners, boat docks are one of the main features of the property that can affect – positively or negatively – the value of a property. If you do your best to install and maintain a dock that looks great, then you’ll be in good shape if you ever need to put the house on the market.
But let’s take a closer look at exactly how a boat dock can affect your home and property values.
How do you know whether a boat dock could increase your property value?
There are few hints to keep an eye out for that may suggest whether or not a boat dock could increase your home’s value or your property’s value.
One of these helpful hints is whether space for docks or boat slips is limited in the area your home has been built. Is there enough space for every home to have a dock or even dock access? If not, and you are one of the lucky lakefront home owners who does have a dock on your property, then you can bet it’s going to be not only a positive selling point, but something that will have a positive, upward effect on your property value.
Other tips include considering the condition of your dock and the condition of your home. If both are in good shape, then you may see a boost in property value, according to Century 21. How much extra value depends, but Century 21 estimates a boat dock in good condition that is part of a property with a well-maintained home could add several thousand dollars to the property value.
And, as noted by Century 21, even if that value is not reflected in an official appraisal or assessment, the right buyer who wants convenient lake access for their boat will likely agree to a higher sales price if you have a boat dock that has been well maintained over the years.
Is the lake a vacation destination?
As with many real estate topics location is key. If your property is located on a lake or along a river in an area that is seen as a vacation destination or a relaxing locale for second homes during summer months, then you will want to make your property as desirable as possible.
When it comes to waterfront residences, a boat dock achieves this. Any property without a boat dock in these areas may not receive as much attention or fetch a competitive sale price when that time comes to list the home.
Sometimes the dock is what sells the property
In many of the areas of the country that are able to enjoy the benefits of water access, it’s the dock – not the house that can sell the house. In certain regions, a boat dock can double the value of a property, according to the Wall Street Journal. This is especially true if new construction is in any way limited due to restrictions or limited space, as we mentioned above.
So, don’t underestimate the value that dock can provide to you as a homeowner down the road.
Having a boat dock is an undeniable perk
Consider those folks who may want to purchase your home down the road if you are even in a position to sell. Again, if you have treated your property right – and have treated it like an investment – then you have kept up on maintenance, repairs and improvements throughout the entire property
A boat dock is one of those undeniable perks for many people who are looking to purchase waterfront property, whether that be on a lake or along a river bank. They save money on not having to purchase or lease another space for a boat so that they can access the lake.
A boat dock also adds a lot of recreational and entertainment value to any property without, along with the obvious convenience of having a place to add a boat slip so that you or any future property owner can store their boat right there on the property.
Water access sells
At the end of the day, water access is what really closes a sale of a lakefront property.
How easy is it to access a lake from the home? How conveniently located is that water access? These are the questions potential buyers or appraisers may ask themselves when trying to put a number on the true property value.
A boat dock located on the property is the easiest, most convenient solution as far as water access is concerned.
Do your research and have a high-quality dock installed
To make sure that a boat dock on your property will increase its overall value, you need to put in some time to do the research so that you can install a boat dock that is made of a high-quality material that will last, is easy and enjoyable to use for a variety of purposes outside of boating that and fits the aesthetics of the rest of the property.
Plus, while building a boat dock can be a DIY project, having a professional design, build and install the dock can be the right step to ensure a lasting value for years to come.
VW Docks can build the boat dock of your dreams
If you want a boat dock that not only helps boost your property value but also meets all of your own needs while being built to last, then reach out to us. We love helping our customers by building their dream boat dock.
Contact us today to request a free quote. Let’s get your boat dock project started!
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