The True Cost of That View: Waterfront Homes in Savannah

Covering what makes marsh or water access valuable (and what to consider).

There’s no question that a waterfront view in Savannah is a showstopper. Whether it’s a marshside sunrise on Isle of Hope or a sunset over the Wilmington River, homes near water offer a lifestyle that’s hard to replicate inland. But as dreamy as it sounds, buying a waterfront property comes with its own set of realities, some obvious, others less so.

What You’re Really Paying For

Location has always been a driving force in Savannah real estate, and waterfront homes sit at the top of that pyramid. In 2024, the average price per square foot for waterfront properties in Chatham County was $332, compared to $210 for inland homes. That premium reflects not just the view, but also scarcity. There’s a limited supply of buildable land near the water, especially with FEMA regulations and environmental protections in place.

Insurance and Elevation: The Hidden Costs

Flood zones are a key factor in pricing and ownership. Most waterfront homes in Savannah fall within a FEMA-designated flood zone, which can significantly impact both insurance costs and lending options. Homeowners in zones AE or VE, for example, should expect flood insurance premiums that can range from $1,200 to $5,000+ per year depending on elevation, mitigation features, and the home’s value.

It’s also important to look at the home’s base flood elevation (BFE). Newer or renovated homes that sit above BFE are typically less expensive to insure and more attractive to lenders. Older homes below BFE may require significant investment to bring them up to code or to protect them properly.

Maintenance and Long-Term Planning

Salt air and high humidity can age a home faster, especially in areas with brackish water. Buyers should factor in additional wear on HVAC systems, windows, and exterior finishes. Dock maintenance is another consideration. Depending on the condition and materials, annual upkeep for a private dock can cost $1,000 to $3,000, and full replacements can reach $20,000 or more.

HOAs in waterfront communities may also include shared costs for seawall repair, dock dredging, or community pier maintenance. Be sure to review covenants closely.

Why People Still Say Yes

Despite the added costs, the lifestyle offered by a waterfront home is still one of Savannah’s most coveted experiences. From kayaking before breakfast to backyard oyster roasts at low tide, owning on the water is about more than just resale value, it’s about daily joy.

Thinking about buying waterfront?

Make sure you’ve got a local expert in your corner. Reach out today to get a personalized breakdown of flood zones, elevation certificates, and current inventory so you can make an informed decision.

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