What are the pro's and con's of buying lake front property?

Asked by Annap2010, Fort Wayne, IN Wed Jun 8, 2011

Trying to persuade my grandpa to buy a lake house but need more information and facts about the negatives and positives.

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10
Bill Gassett, Agent, Hopkinton, MA
Sat Nov 8, 2014
I have put together one of the most detailed guides you will be able to find on what you should be considering when buying a lake home. Take a look below at the web reference where you will find tons of tips and things to think about when buying a lake house.
1 vote
Rob Messner, Home Buyer, Summerville, SC
Tue Feb 28, 2017
We learned the hard way some of the cons of waterfront property. We built our dream home on a river in Charleston SC. We moved in and put a lot of our stuff in the open air basement of a elevated home until we were ready to move it upstairs. We quickly found out that all metal items rusted and all fabric developed mold and was ruined, and wood warped and rotted. Our builder used drywall in the basement as well which got well and began to break apart and mold as well. So now our only option is to close off the basement to be able to use it for storage. Paint and stains didnt hold up well either and you can expect to do a lot of repainting and staining as it will wear out quicker with the moisture.
0 votes
Kev, Home Buyer, Fort Wayne, IN
Thu Feb 2, 2017
Here's an excellent guide to Tips and Advice on Lake Lot Homes.
0 votes
Kev, Home Buyer, Fort Wayne, IN
Thu Feb 2, 2017
Here's an excellent article about tips for building Lake Front Homes
0 votes
Poornimasury…, Home Buyer, Fort Wayne, IN
Fri Sep 9, 2016
v have newly moved a flat.were infornt of flat house when u open the door there is a park lake is it effect our personal life
0 votes
Christopher…, Agent, Fort Wayne, IN
Wed Apr 25, 2012
PROS - Lakefront property is a SCARCE RESOURCE, therefore the profit POTENTIAL is HUGE...Post recession of course.
The enjoyment of being by the water and the recreation / food / opportunity it brings.

CONS - PRICE PRICE PRICE, when purchasing.
Septic issues.
Building codes, restrictions, lot size, etc.
TAXES TAXES TAXES

Lakefront property should be looked at as an investment. If you don't have waterfront access, you should look at other avenues, as these property values DO NOT jump. One must also consider lake activity when making an offer. A lot of property out there right now because of the economy, and because many families cannot afford to pay the taxes and upkeep required for many lake homes.
0 votes
Flag Wed Apr 25, 2012
United Execu…, Agent, Fort Wayne, IN
Thu Jun 9, 2011
One other thing to note is that Lake property in NE Indiana is taking the biggest beating in relation to home values during this recession. Overall, home values have held up remarkably well compared to other markets in the country, but lake property, not so much. What does that mean for a home buyer? Let's put it this way, there are some GREAT buying opportunities out there right now, but don't expect values to begin rising anytime soon. If you are getting into lake property, do it as a long term investment with a size-able down payment. Protect your future.
0 votes
Katie Brown, Agent, Fort Wayne, IN
Wed Jun 8, 2011
Lake Front property is usually a good investment. You will want to consider the location on the lake as beach conditions can vary. As mentioned previously the location - channel versus basin- will also impact the desirability of the property. Also, the range of activity offered on the lake is something to consider...Fishing, motor boats, skiing hours, etc are important to know.
0 votes
Hi! I am considering a house that has amazing lake views and it's right on the lake but there is a cliff there. You then have a private beach that you walk to down the private road. Does this reduce the value and would you think potential renters would be turned off by the cliff? I do have other rental property but not on the water so this is new to me. Thanks!
Flag Thu Apr 9, 2015
Courtney Bon…, , Fort Wayne, IN
Wed Jun 8, 2011
Also when searching, be careful to read the fine lines. Many homes will appear to be lake front, but may only be on a channel or have lake access. Both of these have a dramatic effect upon value.
0 votes
Courtney Bon…, , Fort Wayne, IN
Wed Jun 8, 2011
Like cars there is no replacement for displacement, when it comes to lake properties there is no replacement for water front... No negatives to buying lake front except price. Non lake front properties are no where near as desirable to buyers.

Contact me if you have further questions.
0 votes
Turbo chargers for lower displacement and bigger houses with no water
Your logic is flawed ;)
Flag Mon Dec 5, 2016
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