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Updated almost 5 years ago,
Creek running through backyard
I have been a real estate investor for 8 years now and I have done dozens of flips and have a handful of rentals. I have always avoided properties with pools, creeks, or any form of water due to liability and maintenance issues. However, I am now consider a property for my personal residence that has a large creek running through the backyard. The creek current is fairly strong, but the yard has been tastefully designed. The creek is about 30 feet from a 5 foot retaining wall, so I believe I have plenty of height and distance for overflows not to reach the home.
My question pertains to value and possible issues with a creek property. I plan on this house being my forever home, so overpaying isn't a big concern but obviously on my mind as an investor. The asking price and my offer are about $15/sqft higher than the highest comp in the neighborhood, but I am willing to absorb the loss to keep my family happy(3 kids and a puppy making life hectic in my current home). Are houses that back up to creeks normally more or less expensive than comparable homes without creeks? Does anyone have any experience or concerns with a property like this? I have attached pictures as a reference.