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Living on the banks of a river or near the shoreline is on everyone's bucket list. Do you want to live in a serene location, too?
The popularity of waterfront homes comes from the love of peaceful views, soothing sounds of water, and access to recreational activities. Unique natural beauty and a connection to nature make this a substantial investment opportunity.
On average, the modern beach house market is expected to surpass USD 22.29 billion in the next six years, growing at a 7.5% CAGR. Reports suggest the global waterfront property market generated a 118% premium due to supply and demand.
With such a crowded market, it can be challenging for future homeowners to find a location that best fits their needs. You may want to look at an underrated place to buy your waterfront property. Sometimes, these offer an unspoiled natural environment at an affordable cost.
Let's look at a few 'not-talked-about' locations for waterfront homes in detail.
1. Cape Cod, Massachusetts
Are you looking for Victorian charm while relaxing on unique beaches alongside historic lighthouses? In that case, Cape Cod, Massachusetts, should be your go-to destination.
It's a peninsula that features charming seaside villages with stunning waterfront properties. Wherever you buy a house in this area, it'll overlook the Atlantic Ocean or Cape Cod Bay.
Only recently, Cape Cod communities received a whopping USD 12 million in state grants. This will support economic development projects like housing, wastewater treatment, etc. Hence, you'll benefit from investing in a waterfront property here.
With a rich maritime history and access to delicious seafood, buyers can find diverse opportunities. The best part is that it's only an hour's drive from Boston. The beachfront houses here range between USD 550,000 and USD 15 million or more.
2. Cannon Beach, Oregon
When you think of a picturesque coastal town, does Cannon Beach, Oregon, pop up? You aren't wrong—this place is a go-to vacation for many American families.
About 25.79% of the town's budget goes to tourism purposes. Just for restroom restorations, the government allowed a fund of USD 477,525.
But have you ever thought of living here? There are various homes for sale in Cannon Beach, Oregon. For instance, you'll get access to cozy cottages, luxurious beachfront properties, and a diverse range of options in Cannon Beach.
According to Keller Williams Sunset Corridor, this location is desirable for real estate investment because homebuyers are captivated by the cultural richness and natural beauty. You'll love the iconic Haystack Rock, vibrant art scene, and pristine sandy beaches. The median home price per square foot in Cannon Beach is USD 727.
Looking for the best investment in waterfront properties?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents. Find out what your home is worth in today's market.
3. Traverse City, Michigan
Known for its proximity to the Grand Traverse Bay, Traverse City is a great place to enjoy natural beauty and cultural richness. The panoramic views of the bay from waterfront properties make it a desirable location. If you're an outdoor enthusiast, you'll love the recreational activities in this area, like fishing, boating, etc.
The city's housing and land service budget was USD 50,000 between 2023 and 2024. Moreover, the median home price here has had a 6.6% rise since 2023. It's now valued at USD 436,516. Hence, this is a great time to buy real estate here.
Do you know Traverse City's most famous thing? It's the cherry orchards and wineries. Michigan supplies 70% of the nation's cherries, most of which come from Traverse City. Also known as the Cherry Capital of the World, this city hosts the famous National Cherry Festival.
4. Gulfport, Mississippi
According to Southern Living, coastal Mississippi has 26 miles of white-sand shores. Gulfport alone makes up at least six of them. It's also close to the Gulf of Mexico. You might find fresh seafood in the downtown area at local restaurants and a thriving community.
Even then, Gulfport is a hidden gem for waterfront living. The mild weather and rich heritage will soon attract homeowners looking for an underrated location.
In 2023, the City of Gulfport received USD 549,635 for home investment partnership funds. On average, the median home price here was USD 215,000 in June. This made up for a 6.2% hike since 2023.
There are various places in America where you can buy waterfront homes. Sometimes, purchasing such properties can mean you won't have any privacy. Thankfully, the locations shared in this article are still underrated, making them somewhat secluded.
When buying waterfront properties, remember to consider regulations and get a robust insurance policy. You might face climate change issues, leading to expensive repairs, but it'll be a great investment.