I think the laws of shared ownership of bodies of water vary from state to state, but I think a common similarity is that if you land butts up to that body of water, you have usage of the entire body of water.

So, the pros or cons of that solely depend on the character of your current and potential future neighbors.

Excerpt from Robert Crais' "The Monkey's Raincoat:"
"She took another microscopic bite of her sandwich, then pushed it away. Maybe she absorbed nutrients from her surroundings."