What to Know About Buying Waterfront Property in July

If you’ve been waiting for the right time to buy a waterfront property in Maine, July might feel like the perfect moment — and it can be. With long, sunny days and peak inventory on the market, summer offers plenty of opportunities. But buying a waterfront home in July comes with some unique considerations. Here’s what you should keep in mind as you search for your dream property by the water.

1. Competition Can Be Fierce

July is prime buying season for waterfront homes, so expect more competition. Many buyers are eager to close and enjoy the rest of the summer on the water. Be prepared to act quickly when you find the right property and make sure you’re pre-approved for a mortgage before you start shopping.

2. Inventory Peaks — But So Do Prices

While there may be more homes on the market in July, prices tend to reflect high seasonal demand. Waterfront properties especially command premium pricing this time of year. Understanding the local market — and what constitutes a fair price — is crucial.

3. Pay Attention to Flood Zones and Insurance

Waterfront properties often come with additional risks, such as flooding or erosion. Research the flood zone designation of any property you’re interested in and get estimates for homeowners and flood insurance before you buy. These costs can vary widely.

4. Inspect the Property Thoroughly

A summer day can make any property look idyllic, but it’s important to consider year-round conditions. Check for signs of water damage, erosion, or seasonal access issues. A qualified inspector with experience in waterfront homes is essential.

5. Think Beyond Summer

It’s easy to fall in love with a waterfront property during the warm months, but consider how livable the home will be in winter. Does it have adequate heating? Is the road plowed? Will you use it year-round or seasonally?

Bottom Line

Buying waterfront property in July offers an exciting opportunity — but also requires careful planning. High demand, seasonal pricing, and unique maintenance and insurance considerations mean you’ll want expert guidance to make a smart investment. At Sell 207, we can help you navigate the summer market and find the perfect coastal home that meets your needs year-round.