There's something simple and idyllic about living close to water, whether it's a creek (Oak Creek Canyon), or riverfront property (Mississippi River Valley), or the ocean (Jersey Shore, San Diego, Malibu). We humans are drawn to it. We feel more at peace. We sleep better. And we'll pay through the nose for it! "Land for sale; shack included" can describe a lot of real estate that sells for millions of dollars -- just to be close to water.
The Global View
Globally, water and water views impart a trillion-dollar premium on condos, houses, shopping centers, and all other forms of real estate. Just take a look at the restoration projects that happen next to a City's waterways. Cities and governments spend A LOT of money to transform old run-down warehouses and other buildings into restaurants, malls, offices, and even residential properties. And it's worth it because people will pay A LOT to be near water!
Restoration of waterfront property is huge, even in our neck of the woods! And if there isn't water, it can be created. Take Tempe Town Lake for example. Once a dry riverbed that collected illegal garbage dumping, it's now a huge park and metropolitan area, complete with recreation, shopping, eating, and condominium high-rises. The initial cost to the City and taxpayers? Almost $45 MILLION. Was it worth it? Everyone who enjoys that area certainly thinks so! And that's not the end of the expense. The City of Tempe pays $2-3 MILLION in annual operating costs, some of which is offset by usage fees. Spend any Saturday in the area and you'll see hundreds of people enjoying it all. People want to hang out near water.
Now, let's take it down a notch to apartment complexes, condominium complexes, assisted living facilities, and other community-type living arrangements. The owners and managers of these facilities will tell you that they have a waiting list for units that have a view of water features, AND can charge a premium for those units. People want to live near water.
How do I get Mine?
What would YOU pay to live next to a lake, or a flowing creek, or a serene pond? Would you like your own piece of blue?
Good news: you don't have to move! And it won't cost you millions! You can have a gorgeous water feature -- one that looks like it existed before you built your house next to it. If that thought appeals to you, check out the possibilities!
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Barbi Holdeman, co-owner of The Pond Gnome, enjoys sharing their 20+ years of education & experience with you! She writes about Phoenix Ecosystem Pond Installation, Pond Maintenance, Wildlife around the Pond, Koi and Goldfish in the Pond, and the Pond Lifestyle. If you enjoy what she writes, please share it!