Lakefront House

Have you ever dreamed of living in a lakefront house? A life where every day feels like a vacation—just imagining it already brings a sense of joy. Whether you’re approaching retirement, dreaming of a quiet life in nature, or looking to diversify your real estate portfolio, lakefront properties are worth considering.

So, what should you consider when buying lakefront real estate? Let’s take a look.

How to Find a Lakefront Home

If you're thinking about a lakefront home, the first step is to determine which lakefront areas suit your needs. Glen Phillips, CEO of Lake Homes Realty and Beach Homes Realty, advises that experiencing the market firsthand is key. He recommends visiting the area several times and seeing how it changes with the seasons.

For example, some lakes maintain a constant water level year-round, while others may experience lower water levels in the winter. It’s essential to assess which environment aligns with your lifestyle.

Another important factor to consider is the Homeowners Association (HOA). Some lakefront communities have an HOA, which may charge additional fees for maintenance and services. You’ll need to decide if these extra costs are manageable for you.

Once you’ve defined your budget and desired features, it’s best to work with a real estate expert who has experience with lakefront properties in that area. You can also search online for lakefront listings.

Interested in Buying Land to Build?

If you're interested in purchasing land rather than an existing home to build your own, Phillips explains that land comes with more unknowns and requires careful consideration. Unlike existing lakefront homes, which already have resolved issues like sewage, lake access, and shoreline conditions, vacant land requires you to assess these aspects from scratch. It may take longer to complete the process, so keep that in mind.

The Realities of Lakefront Living

The biggest advantage of living near water is the “peace and enjoyment” it brings. Life surrounded by nature is healing, and most lakefront communities tend to maintain strong real estate value.

However, there are some drawbacks. Homes by the water require more maintenance, which can be time-consuming and costly. Additionally, it’s crucial to check for specific regulations or management provisions for the area before purchasing.

Furthermore, when selling a lakefront home, potential buyers may not be local, which could lengthen the marketing and sales process. Phillips notes that these properties aren’t something buyers feel they must purchase immediately, so they often take more time to make decisions.

Climate change can also affect lakefront properties, particularly in regions like North Carolina, where environmental changes might impact these areas more significantly.

Profitability of Lakefront Homes

Due to their rarity and demand, lakefront homes can see significant long-term value appreciation. Whether for personal residence or investment, buying at the right price can make for a good investment opportunity.

Phillips explains that during the pandemic, lakefront homes were rapidly sold at high prices, but these properties might sell closer to their original cost if resold now.

To maximize investment returns, it’s important to work with skilled contractors for proper maintenance. Adding amenities like docks, pools, hot tubs, and outdoor kitchens can also increase the property’s value.

Conclusion

Lakefront homes can mean more than just a place to live—they can be a stable residence and a long-term investment. However, they require careful planning, understanding of the area, and thorough preparation. If you are seriously considering life on the lake, it’s best to take the first step with an experienced professional by your side.