To understand the primary demographics of homeowners who are dock owners/buyers in order to inform a business pitch.
As we dove into our background research on waterfront homeowners who may also own or are planning to purchase a dock, we gained insights on their demographics. Here are some key pieces of information we found:
- As Baby Boomers (age 55-73) continue to retire, many of these homeowners prefer to remain living near the waterfront.
- Many waterfront homeowners keep owning their properties because they love boating and being able to have their own boat docks.
- Waterfront homeowners who live in Jacksonville, Florida have some of the most valuable properties in the area, and waterfront homeowners who live along the rivers and lakes in areas like Denver, Colorado, Sacramento, California, and Austin, Texas are so scarce that their properties are also highly priced.
- Waterfront homes still cost more, but their premium market value is decreasing, and the price premium for waterfront homes fell 36% overall last year.
- Many waterfront homes on the beach are a second home investment, and some homeowners rent these homes out to vacationers for part of the year.
Proposed next steps:
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