Purchasing any property will likely be a major significant decision. Buying Lake house Property is no different, matter of fact it make take more research and due diligence. What you probably don’t know is that there are many factors that come with purchasing property that makes more unique that just any regular property. With that said, I’ve complied a few pointers for you to consider. I hope they may benefit you in some way.
-Always try to physically see the lake property. No matter how many photos you see or how detailed the description….nothing can substitute seeing it in person.
– Hire a licensed Realtor. One who is an expert with Lake Homes. Some simple research is all that is needed. The benefits are overwhelming and it will not cost you a dime!
– Find out how much pricing differs per county or location of property on the lake. You’ll always pay more for full views, deep water, and flat lake lots.
– Get as much documentation on the Lake Property as possible. Surveys, Plots, Tax Records, Disclosures, Set backs, anything along these lines.
– Determine what type of lake it actually is. Does the lake fluctuate in water levels? How does that affect your access to the lake?
-Check to see if there are any flood plain restrictions. If you build or buy in a flood zone you may have a tough time getting insurance.
– Check to see if there are any covenants or restrictions. You may want to increase your dock size or add an out building, but will not be able to due to an association.
– If your are purchasing a resale lake home or are building a new construction lake house, definitely get it inspected by a licensed home inspector.
– Get a termite inspection.