Residents moving to Arizona from other parts of the country are often surprised to find that in the middle of the desert, there are homes surrounded by man-made lakes. Maricopa has two such communities: The Lakes at Rancho El Dorado and the active adult community of Province.

They have their advantages. While the views of an average house may change due to development, a waterfront home’s views will remain intact. Depending on which way your home faces, you will likely be able to catch unobstructed spectacular sunrises and sunsets.

There aren’t normally many waterfront homes up for sale in Maricopa at a given time. As of this printing, there were only nine active listings—three in the Lakes at Rancho El Dorado and six in Province–out of 530 listings. This low supply leads to higher listing prices.

How much higher? In my personal experience, I’ve found that it’s around 15-20% more than the same floor plan on a standard lot. The number could be even higher when you consider the desirability of the neighborhood, along with the features and finishes of the home itself.

However, there are some potential disadvantages.

For starters, “waterfront” is not the same as “lakefront” when talking about the quality of the water.

In 2018, monsoon rains affected the oxygen levels in the Lakes at Rancho Eldorado, which caused a massive fishkill, causing the whole neighborhood to stink. During certain times of the year, mosquito activity may spike in the corners of the lake where the water is slow moving.

You should research what uses are permitted by the HOA on the water lots. Fishing is likely prohibited, and if you’re looking to cruise around the water in your motorboat, you’ll be sorely disappointed in Maricopa. The Lakes only allows non-motorized boats and kayaks, while Province doesn’t allow any watercraft at all.

Additionally, a waterfront home brings increased development costs for the backyard. Because the lots slope towards the water, building a pool or extended patio will usually require the construction of a retaining wall, to keep the lot from slowly eroding into the lake. You must also consider safety precautions, mainly fencing, to keep the little ones safe.

The lot premium on a waterfront home hardly ever loses value, and all the work you put upgrading such a property will pay you back one day when you transition from a homeowner to a seller.

Dayv Morgan is a Maricopa Realtor and owner of HomeSmart Premier.

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