Buyers all come to the house hunting jungle with their lists of must haves and can’t stands. But when they’re looking for a waterfront property to buy, whether it’s a single-family home or a condo, it’s not unusual for buyers to focus on one thing: the boat slip.
Florida is boat crazy and it’s no wonder, being surrounded by water on all sides, offering incredible water access. Homes with available boat slips are all over the coastal communities on both sides of the Florida peninsula. Purchasing a property with an existing boat slip will generally be a higher price point, but how much higher?
Boat slips, pools, elevators and convenient beach access all add to the value and desirability of a property. However, not all buyers are willing to pay the extra money for something they may not use enough to justify. It’s a balancing act; you love the pool and spa, but is it worth $100,000 more?
True boaters will put the availability of a boat slip way before all other expensive amenities, and for good reason. Renting slips in commercial marinas are expensive and sometimes difficult to find. Deeded boat slips are sometimes available for sale and some of the larger marinas like Longboat Key Club Moorings offer slips for sale as well. But there is nothing like stepping out your sliders and getting on your boat right in your own backyard. This is the dream of every boat owner, but it comes with a price.
Again, the value of a property is based on location, condition and amenities. Properties on protected water, like canals, all have seawalls which are owned and maintained by the property owner. Replacing seawalls is a very expensive operation. Sometimes the entire wall needs to be replaced because of flooding and hurricanes; and sometimes only the cap on the wall needs replacing because of age. Either way, if you purchase property with a seawall make sure you have it inspected by an inspector who specializes in seawalls.
Most boat slips also come with adjoining decks, and sometimes boat lifts. Decks don’t last forever, especially if they were built with untreated wood; and boat lifts need occasional maintenance. These also need an inspection from someone qualified in this area and all of this needs to be done before, or at the same time, as your normal house inspection.
There are also condo communities with boat slips available. Some are deeded, some are assigned and some are rental. Keep in mind, deeded boat slips belong to the condo owner, with all the responsibilities that come with ownership. Assigned slips and rental slips belong to the association. Therefore, responsibility for maintenance belongs to them.
Those of us who are following the progress of the Seafood Shack property in Cortez that is now owned by Manatee County should take note of the most recent development. The county has been conducting community open houses to get a feel for what county residents see as the best use of this property. The original plan was to provide boat ramps and parking for vehicles and boat trailers. Apparently, some of the feedback has been not in favor of boat ramps and more in favor of parks and restaurants on the waterfront property. But it might be years before there is a finalized plan, so things can change.
When the boat slip is more important than the house, you’re leaving yourself open to potential problems. Take it from a long-time boater: salt water is the enemy of boats, seawalls and docks. Understand what you’re doing and make informed decisions.
