If you are the sort of person who dreams of owning a home on the edge of an expanse of water in the East Midlands your choice is limited indeed and finding waterside property for sale near Rutland water is a challenging task.
In Northamptonshire the occasional property on the banks of Pitsford Water comes available and last year alone I had two clients who bought in watery locations, but truth be told it’s not a common occurrence.
It is unusual therefore, for me to be a position to know of two waterside properties that are near Rutland Water and are available on an ‘off-market’ basis.
It is exciting to have knowledge of these rare gems and I have already shared the information with a couple of active buyers. However, buying these properties are not for the faint-hearted or those lacking the means.
What are the challenges of buying a Waterside property?
There are two main challenges faced by buyers of these kinds of properties.
The first is that these properties are being sold ‘off-market’ so their asking prices are not being tested on the open market. The homeowners have a view of what they would like to achieve and through careful research and the backing of an independent valuation, we can establish a fair offer price – however, there can often be disparity between these two sums.
It is often said, “a house is worth as much as someone is willing to pay for it” but for rare properties such as these, it is also worth as much as someone is willing to sell at. Brokering such deals is a sensitive matter and to achieve agreement on both sides often needs professional assistance.
The second challenge buyers of waterside homes need to face is that properties such as these usually demand a premium for their views. Proximity to Rutland Water can for example, add as much 20% to the asking price; pushing a nice house into a prime-market price bracket. Swallowing this bitter pill is not easy when making comparisons with houses away from the foreshore.