Home Buying in Charlotte>Question Details

Gena Riede, Real Estate Pro in Elk Grove, CA

Can I get a waterfront home under $500,000 on Lake Norman?

Asked by Gena Riede, Elk Grove, CA Fri May 18, 2007

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Barely. You won't get main channel of course, but you can find yourself on a cove. You could also consider a lake access community, where you could walk to your boat and to the water. The best values on the lake currently are in Lincoln County (Denver) and in Catawba County (Sherrills Ford). The retail growth is chasing the residential growth which benefits all.

If your heart is set on waterfront, and you want the view and the main channel, you need to budget closer to $800,000 and up.
1 vote Thank Flag Link Fri May 18, 2007
Gena, I just wrote a blog post about this. Currently there are 37 homes listed for sale on Lake Norman for under 500K.

This does not include homes that may be list just over 500K but are negotiable to under that amount.

Check out my blog "Living at Lake Norman" at http://www.LakeNormanRealliving.com
0 votes Thank Flag Link Thu Jun 25, 2009
There are certainly a number of homes on Lake Norman under $500,000. Check out the subdivision Bahia Bay in Cornelius, NC 28031. This location is very close to I77 minutes to the interstate. . Most of the homes sit back a quiet cove and allow you to enjoy the views of the lake, but the peacefulness of being on a cove. I have a listing MLS # 838433 with a virtual tour. If you need any further information please give me a call on my mobile at 704-607-7514
0 votes Thank Flag Link Fri Mar 6, 2009
Sure, but it may be an older home and in a more rural area such as the North or west part of Lake Norman.
There are many great buys with waterview homes in waterfront neighborhoods with deeded boatslips if this is an option . A local Realor® such as myself who has lived and worked in the area all my life can provide a list of homes to meet your needs. Feel free to contact me if I can help. You can also do a search on my Lake Norman website. Take care
0 votes Thank Flag Link Sun Mar 1, 2009
Live on Lake Norman for $309,000 w/deeded boatslip http://www.lakenormanhideaway.com
0 votes Thank Flag Link Fri Jan 30, 2009
Absolutely! There are not only single family homes on Lake Norman but Townhome/condos as well.

What is you move date? Would you like a list of homes sent to you?
I'd be happy to assist you....
Web Reference: http://www.yolondareedy.com
0 votes Thank Flag Link Sun Apr 27, 2008
Gena,

All answers below are good and accurate. I have written some blog aabout a new devlopment on the North End of the Lake. Check out my blog at http://www.LakeNormanRealLiving.com.
0 votes Thank Flag Link Mon Apr 21, 2008
Gena,
I would go with the Denver, Sherrills Ford areas for the best value like Leigh mentioned. I grew up in Charlotte and we use to have a cabin on the lake in a nice cove. The nice coves are good an private. Of course like the other agents mentioned if you want the main channel you will pay for it.

Larry Story
Coldwell Banker Triad
0 votes Thank Flag Link Sun Apr 20, 2008
Yes you can! However, this is not a simple question to answer. Current market conditions are providing many opportunities to obtain waterfront Lake Norman property under $500k. What you will find is a lot of diversity in the product. If a very nice, newer home is part of your agenda, expect more slope and/or less desirable waterfront. By less desirable, it could be a smaller cove, shallow water, or an area that has not developed as favorably or a poor view, if any. If you are open to an older home or a mobile or modular home, you may very well find good water, a larger cove, or even open water, good view and a more level lot. In addition, lots can vary from .25 acre to over an acre or more and the amount of waterfront, i.e. 50ft to 500ft, along with the topography, will determine what you will get for the money. Although good waterfront lots here are often priced over $500,000, I have seen nice brick homes in good neighborhoods, with decent waterfront and reasonable topography, sell in the $500k-$600k range recently. If you would like more information or some examples of what I have described, please feel free to contact me.
Web Reference: http://www.GailHuss.com
0 votes Thank Flag Link Sun Apr 20, 2008
You can purchase waterfront on Lake Norman for $500,000. However, homes at this price point will not necessarily be on a large expanse of water. You may be on a shallow cove. Lake Norman is also a huge lake that spans Mecklenburg, Lincoln, Catawba and Iredell counties with over 520 miles of shoreline. The homes in Mecklenburg County are typically much more expensive than homes in Catawba County due to their proximity to Charlotte and the amenities offered. With the opening of a new four lane highway (Hwy 16) in Lincoln County the west side of the lake is a quicker commute to uptown Charlotte. Lake Norman continues to grow with many beautiful homes and neighborhoods.
0 votes Thank Flag Link Thu Nov 15, 2007
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