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Waterfront properties
By Jodi Bernard, PEI REALTOR®, CENTURY 21 Northumberland Realty. Updated .
The view is the easy part of a PEI waterfront purchase. Shoreline movement, how you reach the water, and whether you can insure the building decide whether the property works.
Who this suits
Buyers who want the shore as part of daily use, and who can afford maintenance that inland lots do not have. Waterfront is not automatically a better investment than a cottage one row back.
What to investigate
Confirm whether access to the water is deeded or only a view. Look at the bank: a low shore and a cliff do not behave the same way in a storm. Ask an insurer for a quote before you waive conditions.
- Erosion and setbacks
- Deeded access versus a shared path
- Docks, stairs, and who maintains them
Frontage and non-residents
Under Prince Edward Island’s Lands Protection Act, a non-resident generally needs approval through the Island Regulatory and Appeals Commission to hold more than 5 acres in total or more than 165 feet of shore frontage. Rules can also apply to smaller properties, and the Act has been amended. This is not legal advice. Confirm the current position with IRAC and a PEI lawyer before you rely on a listing.
Questions to ask
A waterfront file should answer these before conditions come off.
- Is the shore moving, and how close are the building, well, and septic?
- Is water access on the deed, or only a view?
- Will an insurer quote the building as it is used?
- Does the frontage, with anything else you own, need Lands Protection Act approval?
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This is educational, not legal, tax, or lending advice. Ask Jodi Bernard about a specific property.