Our world has changed in the past year and a half as we faced a worldwide pandemic, were forced to quarantine in our homes, and had to redefine what our work and home lives looked like. One of the areas that has been changed for nearly everyone is how we view our homes and what our idea of a perfect home situation looks like.
Due to a variety of factors, more and more homebuyers are turning to the water when looking for their next home. Here are four reasons why buyers are now choosing Annapolis waterfront properties and how you can experience success when buying Annapolis real estate.
A Greater Appreciation for Home
When the pandemic struck, millions of Americans went from spending most of their time outside the home to being in their houses 24/7. Instead of being able to go to offices, shopping centers, grocery stores, and restaurants each day, homeowners found themselves working, cooking, eating, and shopping from their kitchens, living rooms, and spare bedrooms. This prompted many to reevaluate where they lived, especially if their homes no longer fit their family’s needs or if there was no outdoor space where they could enjoy the weather or gain more livable space.
Those who already owned Annapolis waterfront properties benefitted from having entertainment and relaxation options right outside their doors. Many others made the decision to sell the Annapolis real estate they currently owned and relocate to homes on the river or near the Chesapeake Bay so they could enjoy the same amenities.
Ability to Work Remotely
Before the pandemic, most of those who worked in offices needed to live within a reasonable driving distance to maintain their careers. This took living in Annapolis waterfront properties off the table for many who simply worked too far away from the water to make the daily drive. Once COVID-19 hit, most Americans began working remotely and their living situations were suddenly very different.
It quickly became possible to buy Annapolis real estate on the water and work anywhere in the world from that location. Buyers gravitated to luxury waterfront properties where they could enjoy boating, fishing, and gathering with friends and family members without having to travel. Though many have returned to work in offices at least part-time, there are still plenty of people who have been given the opportunity to continue to work remotely, allowing them the luxury of remaining in their new homes on the water.
Willingness to Commute
For those who are returning to offices in Baltimore or Washington, D.C., the waterfront in Annapolis is still within easy commuting distance, which has led to even more interest in Annapolis waterfront properties. Baltimore is only 25 miles away and Washington, D.C. is a mere 30 miles away, making daily commutes easy.
For those who don’t want to drive or prefer not to own a vehicle, there are buses and trains that can easily transport them to and from their offices. Those who work in the city are more willing than ever to make a short commute each day in exchange for living the life of luxury on the water.
Tips on Buying Annapolis Waterfront Properties
Do you want to experience the benefits of living on the water in Annapolis? The Annapolis real estate market is currently leaning heavily in favor of sellers with more prospective buyers than there are properties for sale. However, this doesn’t mean you can’t still find Annapolis waterfront properties that meet your needs when you use these tips:
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Get pre-approved for a mortgage. Sellers are unlikely to even consider offers from buyers who are not pre-approved for a loan in this type of competitive market. To ensure your offer is given the proper consideration, visit a mortgage lender and go through the approval process so you can bring your letter of pre-approval with you when you start looking at Annapolis waterfront properties.
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Know what you want. Help your Annapolis real estate agent narrow down properties by letting him or her know what you want in a waterfront home. Do you simply want views of the water or do you want direct access via an on-site dock? What areas are you most interested in? What features do you want the home to have? Though it’s smart to know what you want, you also need to make sure you have some flexibility. Due to the low amount of inventory, you may not get everything on your wishlist. Tell your agent what your must-haves are, but don’t get too attached to a vision of your ideal home.
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Find out about listings early. Increase your chances of making a winning offer by getting to listings of new Annapolis waterfront properties as soon as possible. Work with an experienced local agent who can let you know when homes that match your criteria have just hit the market, when they will be listed in the near future, or when they are for sale but are not made public in a selling strategy called “pocket listing.”
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Be ready to act quickly. Once you find a waterfront property you are interested in, be prepared to make an offer on the spot. Though the average Annapolis home sells in around 21 days, hot homes can easily fly off the market in five days or less. If you take some time to think about making an offer, you could easily lose out on the property to a more motivated buyer.
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Work with an experienced Annapolis real estate agent. To ensure you have the best possible success when looking for Annapolis waterfront properties, work with an experienced local agent who can help you find homes that meet your needs, work with you to craft a winning offer, and walk you through the closing process.
Has the pandemic convinced you to trade up your lifestyle for one that revolves around the water? If you’re ready to take the next step and begin looking at Annapolis waterfront properties for sale, reach out to Patrick DeLeonibus for expert assistance.