![\"Science](\"http:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/10\/jpeg-1-11.jpg\")
<\/p>\nThink about your last visit to your favorite body of water, whether it was an ocean, lake, or river. \u00a0Upon seeing this calming body of water, did your mood improve? Were you relaxed? More at ease?<\/p>\n
If you felt happier or calmer when being around the water, there\u2019s a reason why! When our mind connects with water, we enter a state that Wallace J. Nichols, PhD, explains as blue mind \u2013 \u201ca mildly meditative state characterized by calm, peacefulness, unity, and a sense of general happiness and satisfaction with life in the moment. It is inspired by water and elements associated with water, from the color blue to the words we use to describe the sensations associated with immersion. Blue mind gives us a chance to escape the hyper-connected, over-stimulated state of modern day life in favor of a rare moment of solitude.\u201d<\/p>\n
Through beach vacations, water sports, long baths after a tough day, and living close to lakes and oceans, we, in some cases subconsciously, turn to water to achieve blue mind. In addition, our bodies require a healthy dose of 64 ounces of water per day, and 60% of our body composition is made up of water. It is in our bones and blood, literally. Plus, 71% of our earth\u2019s composition is water. Earlier settlers tended to migrate on or around waterways because of the ease of travel, trade, and transport. Evidently, water is a primary component to our general well-being and livelihood, and we are drawn to it.<\/p>\n
Thousands have lived without love, not one without water.
\n\u2014 W. H. Auden<\/p>\n
As Nichols continues to explain, we\u2019re \u201cpaying for this feeling.\u201d The feeling that draws us away from the strains of modern life and into a trance of relaxation and purpose. And the proof in the pudding is in the eating. When planning a getaway to escape from the stresses of everyday life and work, many people escape to water – the deep blue Pacific beaches or bungalows over the crystal waters of Bora Bora.<\/p>\n
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Think about your last beach vacation. When booking your hotel room, you probably booked one with water views, right? You\u2019re willing to pay a premium to look at, let\u2019s say, the deep azure Caribbean waters from your balcony. Dolphins can be seen dancing in the close distance while you\u2019re in your Marriott robe enjoying a freshly brewed cup of coffee. Studies have shown that \u201cwe\u2019re willing to pay 10-20% more for the same room with a water view in a hotel.\u201d Understandably so because it makes us feel calmer, at ease, and more relaxed. We\u2019re paying for the feeling.<\/p>\n
Because being on the water is so desirable and because of the limited inventory, there are big premiums added to the values of waterfront or water view properties. What does the difference in numbers look like? According to a recent report produced by Zillow, waterfront properties in the United States have a 116.1% premium compared to non-waterfront real estate (2014, Zillow). A 116% premium. \u00a0That is huge. \u00a0Take a look at the chart below to see price differences for a few popular coastal locations throughout the United States.<\/p>\n
![\"Science](\"http:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/10\/png-6.png\")
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For many who are from developed areas, it may just be a dream to live on or by the water because of the high premiums. A few weeks ago, I shared with you my decision to purchase a Belize condo a couple of blocks off-beach\u2026the price tag was a lot more attractive and I, or the originally-anticipated-renter, could walk to the water\u2019s edge in a few, short minutes. It was a fantastic option. If you, like me, experience the same joys of the blue mind, there are two important considerations as you analyze your real estate options:<\/p>\n
Consideration #1: \u00a0\u00a0What is more important to you, the location or the price tag? Let\u2019s also further break down \u201clocation\u201d into two sub-categories:<\/p>\n
a. Geographic Location<\/p>\n
b. Proximity to the Water<\/p>\n
![\"Science](\"http:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/10\/jpeg-2-11.jpg\")
B. Proximity to the Water. Are you able to see the water from your back porch or are you a mile away? Do you need a car or can you walk there? Thinking long-term, property on the water may have higher levels of appreciation than off-beach property, but ultimately that\u2019ll depend on the market conditions.<\/p>\n![\"Science](\"http:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/10\/jpeg-3-10.jpg\")
<\/p>\n![\"Consumer](\"http:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/05\/image-ad.jpeg\")
<\/a>to highlight! When looking at property, spend a few minutes truly identifying if you\u2019re looking for investment or residential purposes. Are you looking for a vacation rental only? A place to spend a few weeks a year? A 2nd home? A primary home? An even combination of both? This will help you to nail down how much space you need and whether the location directly on the lake or a few blocks off will work for you.<\/p>\n