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What you need to know about owning lakefront property

Pleasant cottage on a fotested lake with dock

Finding the perfect home is a dream for many. It’s not the easiest to achieve, especially when you’re looking for homes in a particular area. Or when your search coincides with changes in the market that affect the cost and availability of properties.

If you’re looking for lake houses for sale in Alabama, for example, you might find yourself overwhelmed by the choices available to you. Dig a little deeper to learn about the lakefront area you’re interested in. You can also consult with a local real estate agent to get you up to speed on market conditions.

It’s also a good time to consider the following before you take the plunge.

Lakefront homes cost a bit more

Because there’s only so much land that you can build a waterfront home on, buyers paid a 36% premium for homes along the water during the early part of 2018. That was an improvement over the previous year’s premium, which was over 50%.

It needs a lot of TLC

Lakefront homes need more tender loving care than inland homes. For example, moisture in the air and the changing water levels can degrade your property.

You need to diligently search for mildew and eradicate it. If your area is flood prone, you need to get a separate flood insurance. You might even have to replace the siding of a home if the wind coming off the lake is an issue.

Make sure that you factor these issues into your total budget when looking for your dream lakefront home.

You’re in charge of the upkeep fronting your property

When you buy a lakefront home, you’re not just responsible for maintaining your own property. You’re also in charge of the upkeep of the area fronting your home – the dock, for example, as well as the condition of the trees and shoreline. This is true whether your lakefront home is your primary address or your vacation home. Make sure to add these costs to your budget.

The climb back can be steep

Living on a lake usually brings to mind fun times spent in the boat or inviting friends over for a barbecue. Less common is the image of dragging yourself up from the lake to your home. If the structure is located on a hill, then you could be facing quite the trek. Keep this in mind, especially if you have any knee, hip, or other joint issues or injuries that could make climbing a chore. Think, too, of accessibility if you have elderly relatives you’d like to visit often.

Consider the rate of erosion

Finally, research about the soil erosion in the area you’d like to live. This can impact the total feet of your frontage, especially after summer storms. It’s a good idea to have a handle on the situation before you make the decision to purchase.

For more information about lake houses for sale in Alabama, contact Lake and Lands Realty today! Ron Young, a top realtor in Wedowee, AL and his team will help you find your dream lakefront home. They have in-depth knowledge of the Lake Wedowee real estate market and are one of the top-producing real estate companies in Randolph County. Call them at 1-256-357-9600 or email them at ron(at)lakewedowee(dotted)org.