Virginia Beach is renowned for its stunning coastline, scenic waterways, and thriving beach culture. For many, owning a waterfront home in Virginia Beach is the dream, real estate offering unparalleled views, direct access to the water, and a lifestyle that many envy. If you're considering investing in a waterfront property in Virginia Beach, it’s essential to understand the unique market, the different types of waterfront homes, and the factors that impact their value.
This guide will walk you through everything you need to know about buying or selling a waterfront home in Virginia Beach.
1. Why Invest in Waterfront Homes in Virginia Beach?
Waterfront homes in Virginia Beach offer more than just a picturesque view — they provide a unique lifestyle. The city is located where the Chesapeake Bay meets the Atlantic Ocean, meaning residents can enjoy both bayfront and oceanfront properties. Whether you're looking for a vacation home, a primary residence, or an investment property, there are many benefits to owning a waterfront home in Virginia Beach.
Key Benefits of Waterfront Living:
- Stunning Views: Imagine waking up to beautiful sunrises over the ocean or enjoying evening sunsets over the bay.
- Recreation: Waterfront properties offer easy access to activities such as boating, fishing, paddleboarding, and beachcombing. The area’s waterways are ideal for outdoor enthusiasts.
- Luxury Lifestyle: Waterfront homes often come with luxurious amenities like private docks, expansive decks, pools, and lush landscaping.
- Increased Property Value: Waterfront homes tend to appreciate faster than non-waterfront properties, especially in a desirable market like Virginia Beach.
- Vacation Potential: Many waterfront properties in Virginia Beach also serve as vacation homes or short-term rental investments, providing potential income opportunities.
If you’re looking for a combination of luxury and practicality, a waterfront home in Virginia Beach offers both.
2. Types of Waterfront Properties in Virginia Beach
Virginia Beach is home to a variety of waterfront properties, each offering unique benefits. The type of waterfront property you choose will significantly impact the price, lifestyle, and your ability to use it for specific activities like boating or fishing.
Oceanfront Homes
- Location: Directly on the beach with unobstructed views of the Atlantic Ocean.
- Ideal For: Those who want the best access to the beach and enjoy oceanfront views year-round.
- Benefits: These homes provide immediate access to Virginia Beach’s famous boardwalk and are popular for vacation rentals or second homes.
- Price Range: Oceanfront homes are among the most expensive waterfront properties due to their prime location.
Bayfront Homes
- Location: Situated along the Chesapeake Bay with views of calm waters and smaller waves.
- Ideal For: Those who enjoy water-based activities like boating and fishing, or prefer a quieter and less crowded environment than oceanfront properties.
- Benefits: Bayfront homes offer privacy and a relaxed atmosphere, while still providing close proximity to Virginia Beach’s entertainment and dining options.
- Price Range: Prices for bayfront homes are typically lower than oceanfront properties, making them a more affordable option for many buyers.
Canal-Front Homes
- Location: Situated on canals that connect to the bay or ocean.
- Ideal For: Boaters and water sports enthusiasts who want immediate access to navigable waterways.
- Benefits: These homes typically have private docks, which make them ideal for boat owners. Canal-front properties can offer a more secluded feel compared to the more public beach access.
- Price Range: Prices vary, but these homes tend to be more affordable than oceanfront properties, though premium locations with private docks can command higher prices.
Lakefront and Lagoon Homes
- Location: Waterfront properties situated on smaller bodies of water, such as Lake Smith or various man-made lagoons and ponds.
- Ideal For: Buyers looking for a peaceful, serene setting with less beach traffic, yet still close to Virginia Beach’s amenities.
- Benefits: These properties often offer greater privacy and are less prone to the impacts of coastal storms.
- Price Range: These homes can be more affordable, depending on location, but are generally priced lower than oceanfront or bayfront properties.
3. Factors That Affect the Value of Waterfront Homes
While waterfront properties generally hold their value well, the price of a waterfront home in Virginia Beach can be influenced by several factors. Understanding these can help you make a more informed decision when buying or selling.
Location
- Proximity to the Beach: Homes directly on the beach or the bay will typically command higher prices than those further inland or in less desirable areas.
- Neighborhood: Properties in high-demand neighborhoods like Sandbridge, Chic’s Beach, and Great Neck tend to have higher values.
- Views: Homes with panoramic views of the ocean or bay, especially unobstructed views, are more desirable and expensive.
Water Access
- Boating and Docking: Homes with private docks or those located on navigable waterways tend to fetch higher prices. If you own a boat or plan to use the water regularly, access to a dock is essential.
- Beach Access: Proximity to a private beach or easy access to public beaches also plays a role in the home’s value. Beachfront homes with private access are in high demand.
Size and Amenities
- Home Size: Larger homes with more bedrooms and bathrooms naturally cost more. However, even smaller waterfront homes can be highly valued due to their location.
- Upgrades: Waterfront homes often feature luxury amenities, such as infinity pools, expansive decks, gourmet kitchens, and home theaters. These can significantly increase the asking price.
- Lot Size: A larger lot size provides more outdoor space, which is highly desirable in waterfront homes, especially for those looking to entertain or build additional structures like a guest house or pool.
Condition and Age of the Property
- Newer homes with modern finishes, energy-efficient appliances, and contemporary designs typically fetch higher prices. Older homes may require costly renovations or updates, which could impact their market value.
4. Tips for Buying Waterfront Homes in Virginia Beach
Investing in a waterfront property requires careful consideration, especially in a market as unique as Virginia Beach. Here are some tips to help guide your buying decision:
1. Work with a Local Real Estate Agent
A local agent with experience in waterfront properties is essential for navigating the market. They’ll be able to advise on neighborhoods, price trends, and specific waterfront property issues.
2. Research Flooding and Storm Risks
Given Virginia Beach’s coastal location, waterfront homes are more prone to flooding and damage from storms. Make sure to check if the property is in a flood zone and if the home has flood insurance. Understanding the risks can help you avoid unexpected costs down the line.
3. Inspect the Property Thoroughly
Waterfront properties are subject to wear and tear due to their exposure to the elements. Have a detailed inspection that covers the foundation, seawall (if applicable), roof, windows, and structural integrity. These homes may also require more maintenance than non-waterfront homes.
4. Consider the Long-Term Costs
Waterfront homes often come with higher maintenance costs. Be prepared for storm damage repairs, landscaping, and other upkeep. Also, consider property taxes, which may be higher due to the premium location.
5. Take Advantage of Short-Term Rental Opportunities
If you’re not planning to live in the home year-round, consider using it as a short-term rental. Waterfront homes in Virginia Beach, especially those near the beach, are popular vacation rentals and can provide a significant source of income.
5. Selling Your Waterfront Home in Virginia Beach
If you already own a waterfront property and are thinking about selling, here are some strategies to help you sell quickly and at a competitive price:
- Highlight the Views: Make sure to emphasize the views and water access in your listing. Great photos showcasing the view at sunrise or sunset will catch potential buyers’ attention.
- Invest in Staging: A well-staged home with inviting outdoor spaces will allow buyers to picture themselves living the waterfront lifestyle. Consider staging with beach-themed décor or outdoor furniture that complements the setting.
- Promote on Vacation Rental Platforms: If you’re selling an investment property, consider listing it on vacation rental platforms like Airbnb to attract buyers looking for income-producing properties.
- Work with an Experienced Agent: A local agent who understands the demand for waterfront homes can help position your property to attract buyers.
Conclusion
Waterfront homes in Virginia Beach are highly sought after for their stunning views, direct water access, and luxurious lifestyle. Whether you're buying a vacation home, a primary residence, or an investment property, the waterfront real estate market in Virginia Beach offers an incredible opportunity.