Five Things You Need To Consider Before Purchasing A Lakefront Property

Posted on: 27 January 2017

A lakefront property can make a great investment, but only if you are sure you are investing in the right lakefront property for you. After all, you won't get much out of the property if it doesn't work for you. On top of this, you want to be sure that your lakefront property has all the right qualities of being a lakefront home that will ensure it is sellable in the future. Here are five things you need to consider before you purchase a lakefront property:

  1. Private Access: Having private access to the lake is definitely something you want to have in your lakefront property. This means that your home is going to be a bit more secure. If the public can access the same area of the lake that you can from your home, it can be more difficult to have privacy outside of your own home. 
  2. Views: When you purchase a lakefront property, you should expect decent views of the lake itself. If this isn't the case because of trees, other properties, or public areas for people to use the lake, such as parking or boats, then it can seriously devalue the property, especially over time as the view can diminish even more as the public access to the lake grows and more properties are built up around it. 
  3. Future Construction: At some point, you may want to consider adding your own dock or a fence to make your home more private. It's important that you check with the development that this is something that is possible. In some cases, it may not be because it is considered public property. However, in other instances, you may be able to do this so long as you have the right permits. 
  4. Maintenance Costs: Lakefront homes can be more expensive to maintain than other homes. This is because being near water can take a toll on the home, especially if the area is considered to be a flood risk. Your homeowners insurance costs can also be higher. This is why it's important that if you are purchasing a lakefront home, you make changes that are needed to prevent future problems. You also should be sure that you can afford this on top of the cost of owning the home. 
  5. The Right Realtor: Finally, when looking into lakefront homes to purchase, you need to use the right realtor. This would be someone who specializes in working with lakefront homes. This way, they can find you one that is within your price range, but has all the benefits of being a lakefront property. 

When you consider these five things first, you can be sure that purchasing a lakefront property is one of the best investments you can make. 


Saving Money On Real Estate

After I got promoted at work, I realized that there were a few things I wanted to do with all of the extra money. One of the biggest goals that I had was investing in local real estate, because I wanted to experience what it would be like to own multiple properties. It was really overwhelming at first to put in the offers, but after awhile I got really good at saving money on real estate and seeing the rewards. This blog is all about knowing which properties to invest in and focusing more carefully on the art of getting a great deal.