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‘Waterfront property’ is without a doubt one of the more sought-after requests we as realtors get from buyers in our market. Whether you’re looking for a bayfront condo in Ocean City or maybe a larger single family-home in the surrounding areas such as West Ocean City, Ocean Pines, or Berlin… the common thread we hear over and over from our clients is ‘we want a waterfront property’.
After all, ‘water’ is the foundation of what attracts us to the beach…. And Ocean City is, after all, “the beach.” Whether ‘waterfront’ means dipping your toes in the clean, crisp Atlantic Ocean, or diving feet-first into the local Assawoman Bay, who doesn’t love being near the water? The ocean and the bay help us recharge, refocus, and relax. For many of us, it’s nature at its best. And with all the benefits of living on the water, we’d be remiss if we didn’t point out that this lifestyle isn’t without its challenges. Today, we’ll walk you through our top pros and cons of owning waterfront property in Ocean City, MD or the surrounding beach areas.
Pros
1. Breathtaking Views
If you are considering owning a property directly on the Assawoman bay, you will be able to enjoy sunsets over the bay every single day. The sunset in Ocean City, MD truly is stunning, and it can even become a part of your daily routine! We’re sure sitting on your deck watching the sunset over the bay will become a new favorite pastime. And Ocean City has plenty of Bayfront opportunities in a variety of price ranges. Here’s an example of just a few!
2. Easy Water Access
We often hear from our clients who live on the water that their favorite part about where they live is the easy water ‘access’, meaning the opportunity or ability to easily use and ‘access’ their watersport toys such as kayaks, paddle boards, jet skis, or boats. Simply put, when you’re near the water, you probably want to be ‘on’ the water! There are plenty of options to own a waterfront property in communities like Ocean Pines and West Ocean City. Owning a bayfront property in these communities will give you direct access to the Assawoman bay, and even the Atlantic Ocean with just a short ride! Interested in what these homes may look like? Check them out here!
Our Awesome Community
The eastern shore of Maryland is filled with great people who are always looking to help one another. There are also plenty of opportunities to own a home in a community that has tons of events, social gatherings, and other activities for neighbors to take part in! This helps create a strong sense of belonging for families and retirees looking to build new friendships with their awesome neighbors! Glen Riddle is one of our favorite waterfront communities. While only some of the residences are direct waterfront, this community is situated on Turville Creek waterway behind Ocean City, and it features a large private marina with private boat slips, kayak launches, and lots of open areas for fishing/crabbing. Take a look at these properties in Glen Riddle!
4. Investment Potential
Any home that is waterfront in Ocean City, MD or the surrounding areas has a TON of investment potential. With over 8 MILLION annual visitors, there is always someone looking for a great place to stay for their vacation to OCMD. Whether you decide to rent your property for just a few weeks, or most of the summer; capturing income from otherwise unused time in your beach home is a great way to help offset the costs of ownership…. And it should come as no surprise that waterfront properties perform well! Contact a great local vacation rental manager if you think vacation rentals are for you! Our personal favorite, who deserves a quick ‘shout out’ is Central Reservations. They’re a great company, locally owned, and extremely hands on with their property owners. Ready to start planning to enroll in your OCMD beach home in a vacation rental program? You can contact them by clicking here!
'Cons' to Consider
1. Maintenance Costs
Any bayfront property, particularly one with a dock, can come with significant maintenance costs. We’re not saying this to deter you from owning your dream bayfront home with a boat slip, we’re just saying this to make sure you account for this when making your budget before you’re ready to buy! Are you buying in a condo? Does the Association take care of this, or are the individual owners responsible? These are important questions! Make sure you consider regular upkeep and cleaning costs for your dock or boat slip, so you won’t be surprised later.
2. Insurance
Homeowner’s insurance on the eastern shore is generally more expensive than “over the bridge” as us locals call it. This is especially true for waterfront homes. Insurance companies can likely charge higher premiums because there is an increased risk of flooding and other water related issues. While many factors are involved in this calculation, including ‘total’ elevation of the land, house, type of construction, etc.... This is something we encourage you to know the answers to before you buy. Once again, we’re not trying to deter you from these properties… we just want to make sure you budget accordingly!
3. Environmental Factors
Living on or near the water in Ocean City, MD also means that you should be aware of different environmental factors. Make sure you are aware of and prepared for potential upcoming heavy storms or hurricanes. You should also always keep in mind that you are living near the water, on or just above sea level. There is not always somewhere for rainwater to go, so make sure you have the proper precautions in place to make sure rainwater is not coming into your home, high winds aren’t blowing your patio furniture into the bay…. and please make sure your boat is properly secured!
Wrapping it Up
Living in Ocean City, MD on the bay or near it can be a great opportunity to enjoy a new kind of lifestyle filled with all of the benefits we discussed earlier, and more! As we mentioned, there are some challenges to consider, but in our opinion, the pros FAR outweigh the cons.
We haven’t figured out exactly what it is yet, but there is just “something” about living at the beach that makes life a little bit easier. So, if you find yourself at the point where you think you’re ready to explore owning a waterfront home at the beach, make sure you reach out! We’d be happy to share our local expertise, knowledge, and experience with you!
See you at the beach soon!
Grant Fritschle
Cell: (410) 430-5880
Email: grant@grantf.com
Office: (410) 524-6400
Jon Barker
Cell: (410) 935-3810
Email: jon@markf.com
Office: (410) 524-6400