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How To Buy Lakefront Property

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Have you always dreamed of buying a lake house? It may sound idyllic to wake up to the sound of gently lapping water each day, but there are a few things that you should take into consideration before buying a lakefront home.

There are many benefits to buying a house on the water. From plenty of fun activities to having a place that people love to visit, here are some of the biggest advantages to owning this kind of property.

There are only so many lake homes available, and this level of scarcity combined with high demand can make lake property or lakefront real estate a wise investment. Many people choose beach or lakefront homes as second homes and are therefore thinking of it as both an investment and a getaway.

Although your lakefront home may feel like a great outdoors retreat, you may want to anticipate more visitors when you move there. Usually, the local, state or federal government will own the lake itself, designating the lake as public land. Recreational users beyond the neighborhood will want to access the water as well, so you may see more visitors to your waterfront neighborhood than you did when living inland. This may cause issues with parking, privacy and even the use of your personal property.

Before applying for a mortgage, you should be clear on how you want to classify the property. If you plan to live in the lake home the majority of the year, you would classify the property as a primary residence. If you plan to use the home as a vacation spot, that makes it your secondary residence. If you plan to rent it out, it could be classified as an investment property, depending on the length of the rental and the ratio of personal use to rental time. has rounded up its list of the most affordable lake towns where you can find a home that is either directly on a lake or close enough to get a great view. Although some of these homes are pricier than many homes across the country, they offer the chance to get a waterfront property, and with hurricane season upon us, perhaps a safer location than an oceanfront home.

Those who want to own property right on the water should expect to spend at least $500,000, such as this $725,000 three-bedroom home. But buyers willing to share rights could find a home starting in the $300,000 range, like this three-bedroom log cabin with a deeded dock on private Friends Lake listed at $339,000.

Here buyers can find a lake home for under $200,000, if they are willing to make some renovations, such as this $175,000 four-bedroom across the street from the beach. However, those who want a waterfront view should expect to spend $400,000 and up, such as this lakefront two-bedroom with a rooftop deck listed for $499,999.

Waterfront townhomes start in the mid-$100,000s, like this three-bedroom for $168,000. Buyers willing to spend a bit more can find huge spreads like this three-bedroom on more than an acre of property right on the edge of Lake Desoto listed for $454,900.

We caught up with our buyer specialist, Dave Lucchesi, to answer this question and to learn more about the steps his clients take to buy their lakefront home in the Finger Lakes. He broke it down for us in 5 easy steps:

An investor will have a different set of priorities than those looking to use their home personally. As an agent with vacation rental management expertise and experience owning a lakefront home, Dave can provide insight for both clients.

Although there are many factors to consider before purchasing a lake house, these properties can be worth buying. A lake house can make a great investment property or vacation home if you can afford one.

So, you've decided to buy a home on the lake. Congratulations! There isn't anything more relaxing than heading out onto your patio, wind in your hair, enjoying the beautiful views, rustling trees, and the splash of waves and water on your property. Lake Granbury Texas makes an ideal place to call home, especially if you're looking for a home on the lake. But,