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Buying real estate is exciting yet stressful, especially when you’re considering buying a lake house.
Waterfront property is beautiful and provides an escape from the hectic bustle of everyday life. There are also many things you need to know before settling on a house that you love.
After all, owning a lake house is a unique experience that is different from purchasing a home in the middle of town. This article takes a look at tips for choosing the right lake house for you. Keep reading to get the inside scoop.
1. Location is Everything/Research the Area
It’s important to remember that not every lake is the same. Just because you’re in the market for a lake house doesn’t mean that any old lake on a house will serve your needs.
Do plenty of research. Find out as many facts about the area as possible. Learn the history of the community, as well as a history of residential development around the lake. Keep an eye out for details that might be of concern such as flooding or water contamination issues
2. Walk the Property/Inspect it Thoroughly
A significant aspect of what makes waterfront property unique and challenging is the fact that much of the land surrounding the lake is saturated with water. Thus the property and any structures built on it need to be thoroughly inspected.
After all, the ground might not be stable. You also might notice evidence of flood damage. Such factors could make the property unsafe and could also result in expensive repair costs down the road.
3. Take Insurance Costs Into Consideration
You will also likely face higher home insurance premiums for a structure that is built near water. Again, the likelihood of flooding puts it at greater risk of damage than a home located with a town.
Insurance providers will look at a number of factors before determining what to charge for coverage. So be sure to do your research and understand how much the average homeowner in the area pays for insurance on their lake house (do your house insurance comparison here).
4. Look for Hidden Costs
Other major expenses with waterfront properties could include higher than average sewer and water rates, as well as septic tank and water well upkeep. There can also be boat dock and lift fees to consider.
5. Work With a Knowledgeable Agent
Your best bet for finding the right lake house to meet your needs to work with a skilled and knowledgeable agent such as the professionals at Lake Norman Real Estate. This can save you a ton of time, expense, and headaches.
A good real estate agent will understand the things look out for and help you avoid buying a piece of real estate that could easily turn into a nightmare.
Tips For Buying a Lake House That You’ll Love
For many people, buying lake property is the ultimate dream. The key is to find the perfect location for you. Fortunately, the tips contained here can help take a lot of the stress out of buying a lake house.
Keep scrolling to see more useful real estate tips and advice.
