How Water Could Add To Or Detract From Property Value

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Knowing the market value of any land you buy is important so you can tell if it's a good investment and also so you can tell if you're getting a good deal or not. Many characteristics and situations can add to or detract from the value of a piece of land. The presence of water in different amounts and modes can be one of these characteristics.

Here are some ways that water could add to or detract from the value of land real estate

Wells, springs, and aquifers can add value

An existing well can add greatly to the value of a property that's not connected to a municipal water supply. That's because putting in a well yourself after buying (which can be a big expense) would be necessary if the property didn't already have one. If the property has a natural spring with potable water, that could also increase its value.

If, however, the property doesn't have a well already, the accessibility and reliability of the aquifer may affect the desirability of the land. For instance, if the aquifers in the area tend to run dry easily, then even installing a well may not reliably provide enough clean water throughout the year. This can make the property a less desirable place to live.

Marshes can detract from value

Wetland areas can be unsuitable for building on, and building codes or environmental regulations may forbid building there as well. So if any marshy areas exist on or near the land you buy, you may have limited opportunities to build. As you can imagine, this can really detract from the value of the property.

Keep in mind that wetland areas can vary from season to season; just because a spot isn't marshy in the summer, for instance, doesn't mean it won't be marshy in the fall and winter.

Water views can add value

A property that has a great view of a body of water (such as the ocean or a river) but isn't close enough to be affected by floods or wetland setback regulations can be quite valuable. If the body of water offers recreational opportunities within easy walking distance of the property, the property value could be elevated even more.

Water courses can either add or detract

Riverfront properties can be extra valuable, similar to properties along a beach or on a lake, but this is only the case in some situations. For instance, if the river is likely to change course, or if it floods frequently or erodes the land around it quickly, the property may be less valuable instead, since it's not suitable for building on.

These are just some of the ways that the presence of water on or near a piece of property could affect its value and marketability. Your real estate agent can help you choose the most desirable and valuable properties from the land real estate available.