Lakeside Living


Lakeside living can be a dream come true for some. Being near the soothing sounds of water all the time can add a white noise ambiance with which no noise maker can compete. As with many "destination" type homes, living by a lake can be a different experience than the more common neighborhood set ups, therefore it has many considerations to keep in mind.

Often, people who look to live in a home on a lake are looking for a few reasons. They may be quite interested in a water sport or hobby; having a lake in close proximity can cut down on travel costs and can make expensive equipment investments such as boats, jet skis, kayaks, and high end fishing gear worth their while. Other buyers could be looking for a peaceful, secluded getaway as an everyday residence or as a second home. Being on the water brings with it cool breezes, gentle sounds of water sloshing and various types of water life, and spectacular views. In most cases, lake house owners enjoy privacy. This isn't guaranteed, but buying a property on a part of the lake that's not open to the public can certainly bolster the feeling of privacy. No matter the reason, lakeside living can be a great way to live.

Determining where to look for a home can be made easier by evaluating the types of activities that draw a buyer to the water. If fishing is a main priority, the type of waterside property will likely be different than the type of property desired by an avid kayaker. For example, a buyer who longs to go boating from the comfort of their backyard will want to look for a good area with deep waters and fewer tides. In contrast, those looking to enjoy time in still waters for fishing or canoeing may be more interested in a less frequented body of water. Deciding which water activity is the most important can help a real estate agent know what areas are best to search.

Likewise, it's important to discuss how frequently the home will be used. Some areas can be dangerous in colder months, so buying a property for full-time use in these places should be avoided. Other properties may be in more established areas, so use as a second home is certainly possible, but it may be favorable to find a different area to buy a vacation home.

Buying a home with lake access on the property can add value to a home, therefore when looking to buy, it's important to keep in mind that the budget may be higher than that of a traditional home. This can be great news for any potential buyer that stumbles upon a good deal- even if it means settling for a less desirable home that can be renovated. Not only is this a unique opportunity, but updating a fixer-upper can be lucrative in its own right- add a lakeview and the potential resale price can jump. Plus, real estate values tend to stay more steady when the property is on a lake, so there's less worry about the minor dips and leaps of the real estate market.

If buying a lakeside property sounds like the best option, it's important to realize that there may be more upkeep and a longer list of things to keep in mind. Humidity can cause damage to insulation and walls, as well as foundations and other such things. There are few building materials that can't be damaged by water, so it's important to have the place inspected and to see if the sellers have a history of repairs available. Repair histories can help a buyer to know what is up to date, but it can also show patterns for potential problems that may need to be addressed more frequently.

Properties on the waterfront can be more susceptible to weather wear and tear. The wind, salt, and moisture can cause damage to the home in ways that a traditional homeowner may not be used to or expect. Likewise, there are various things that can cause the property to erode. Things such as tides, weather storms, and wind are often culprits for a shifting shoreline. Because of the increased risks wear and tear and unforeseen problems, home insurance may be quoted at a higher rate to cover for the potential for higher damage.

Another interesting aspect of living near a lake is the closer proximity to wildlife. Many different species of animals and bugs congregate near the water. It's not uncommon for homeowners to see an array of different creatures trekking to the water. Some homeowners find that they need to have their homes sprayed with insect and spider repellent, while others occasionally have to build extra fencing around plants so they don't become the lunch of a passing deer. Though these may seem like nuisances, they are part of the lakeside property package and being so close to much wildlife can be amazing.

Living by the water can be a goal for many reasons, whether water sports and activities are the force driving the move to lakeside property, a calmer and more serene location with privacy strikes a chord, or the draw to be more in tune with nature. Though there are many things to keep in mind that may be out of the ordinary for most homeowners, the positives of living by the water can outweigh the negatives. It's no surprise that the property values remain high- who wouldn't love to have a change of pace and get out on the lake?

Sources

http://www.maxrealestateexposure.com/considerations-for-buying-a-lake-home/

http://www.hgtv.com/design/real-estate/how-to-choose-a-waterfront-property

http://www.homes.com/blog/2014/10/the-pros-and-cons-of-living-near-the-water/