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11 Tips To Buy The Waterfront Home Of Your Dreams

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Ready to buy a waterfront home? Congratulations! Keep in mind that buying a lakefront home is much different than buying a typical single-family residence in suburbia. Buyers need to look at the purchase a little differently and base their decision on slightly different requirements.  

1. Water Supply: Many lake homes are not hooked up the municipal water supply. While having a well isn't a deal breaker, the type of well and the quality of water that it produces may be. Taste the water yourself. Can you live with it?

2. Propane: Likewise, utilities may not run on natural gas, like you are used to in suburbia. If your potential lake home has a propane tank, inquire as to how much it costs to fill it and how long one tank lasts the current homeowners.

3. Fishing: If you are an avid fisherman (or woman), check on the status of the lake's fish. Is there a lake association that re-stocks it each year? Does the DNR monitor for invasive species?

4. Small Lots: Lake lots are smaller. Period. There is just no getting around it. Make sure you can live with the close quarters. 

5. The View: You can change the house, but you can't change the view. If you purchase in a channel, the view will be straight across to another house. If you purchase on the main part of the lake, however, the view can be amazing. In fact, you will probably pay extra for any property with amazing views. 

6. Lakefront Footage: In many parts of the country, the valuation for waterfront homes is based on how many feet of frontage they have on the body of water, $1,000 per foot, for example. The size and condition of the house is less of a factor. 

7. Public vs. Private: Know the lake you buy on. A public lake may be larger, but anyone can bring their boat out for the day. A private lake, however, means that everyone boating knows the rules and is more likely to follow them. 

8. All-Sports vs. No Wake: Lakes are either all-sports, meaning they allow jet skis, tubing, and water skiing, or no wake, meaning only canoes, kayaks, and small (quiet) fishing boats are allowed. 

9. Grandfathered: While you are probably realizing that you buy the lake and make the house work with your needs later, know that many lake houses are grandfathered in, meaning local zoning laws do not apply to them because they were built before the laws went into effect. With lake living, this usually means that the house is closer to its neighbors, the street, or the lake than is currently allowed. If you remodel, you may no longer be grandfathered in to those setbacks. 

10. Seasonal: Many older lake homes were once only summer cottages. They may not be year-round residences, but could be upgraded for an additional cost.

11. Weeds: If your lot has a weedy or mucky frontage, there may be nothing you can do about it. Most states prevent altering the lake frontage with truckloads of sand or removing naturally occurring lake vegetation as it is habitat for local fish and wildlife.  

Enjoy your hunt for the perfect lake house.


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