Lakefront properties are a dream for most buyers, but there are plenty of factors to consider when purchasing this type of home which differ from typical urban or country houses. We’ve outlined the 10 most important aspects to consider when buying a lakefront home.
1. Water quality
The major draw to lakefront living is being able to take advantage of the water activities available. Make sure to investigate the water quality of the lake to ensure it’s safe for swimming, boating, fishing, and other activities.
2. Shoreline erosion
The lakefront may look perfect when you are house-hunting, but it might not stay that way. Be sure to look for signs of shoreline erosion, such as exposed tree roots or a receding shoreline, as this can affect the value of the property and the safety of the home.
Discover the Willow Realty Group approach to helping you buy a lakefront home here.
3. Flood risk
While home insurance usually covers events like floods, it’s better to avoid the catastrophe if you can. Check if the home is located in a flood zone or prone to flooding. Consider the property’s history of flooding and the availability of flood insurance.
4. Water access
Consider the accessibility of the lake from the property. Is there a boat dock or ramp, or is it a steep descent down to the water? You might have to consider property improvements in your cost analysis so that it’s up to your living standard, or consider a different property altogether.
Book a buyer’s meeting with Willows Realty Group here to plan your property purchase.
5. Privacy
Determine how close the neighbouring properties are and whether there is adequate privacy. Also, consider the amount of boat traffic on the lake, as this can impact the level of privacy.
6. Property condition
Carefully inspect the property for any damages or repairs that need to be made. Consider any additional expenses that may be needed to maintain the property, such as dock repairs or landscaping.
7. Regulations
Check for any zoning regulations or permits required for any potential modifications or additions to the property.
8. Utilities
Determine the availability and reliability of utilities such as electricity, gas, water, and sewage.
Use the Buyer’s Calculators here to determine the potential costs of buying a lakefront home.
9. Winterization
Consider how the property is winterized if you plan to use it year-round. Check if there are any special precautions or steps that need to be taken to winterize the home and ensure it is safe.
10. Location
Consider the location of the property in terms of proximity to amenities such as grocery stores, medical facilities, and entertainment options. Also, consider the commute time to work or other activities if you plan to live in the home full-time.
If you’re looking at buying a lakefront property, Willows Realty Group has the specialized expertise you need to know about the homes and neighbourhoods you should be looking at. Call or email us to get started!
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