4 Questions To Ask When Considering A Lake House Investment
Posted on: 9 December 2015
With easy access to lakeside fun and incredible views from your home windows, when you spot lake homes for sale, it may be difficult to ignore that deep-down feeling that you want to make this location your own. However, there is a lot more entailed in owning a lake house than what some buyers realize, and these are things that you need to know before you make an offer on a specific property. There are four questions you should ask the real estate about the lake house that has captivated your interest before you make a determination or decision based on your enamored feelings.
Is the property you are considering prone to flooding?
Close proximity to a lake should always bring to mind the possibility of flooding as a home buyer. Even though in most cases flooding will not be an issue, it is always a good idea to find out if and when flooding has ever been a problem on the property.
How heavy is tourist traffic to the location?
Any time you live near a lake, especially if it is a publicly owned lake, tourists and lake visitors can be a concern. Even though people may not be exactly on your property, they could be on boats or in the water near your house, which may not be desirable to you if you are looking for a more private living experience. Talk to the real estate agent about tourist activity.
Will there be an additional ownership fees for taking on the property as your own?
Even though the house you are considering may seem like a private location, it could be a part of a resort property or even a sanctioned suburb that will require you to pay annual fees for living on the property. Additionally, lakeside property can sometimes be governed by local departments of fish and wildlife and involve fees for accessing the water. Be sure you check into any fees before you buy.
Is there wildlife in the area that could be a nuisance?
Family gatherings, taking out your trash, or even getting a good night's sleep could be a challenge if the lake area is heavily populated with some types of wildlife, such as bears or raccoons. Make sure you get the inside scoop about the wildlife in the area before you choose to settle in at a lake house. Even though there are always property changes you can make to keep wildlife out, these may not be investments that you want to make.
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