Lakefront property listings can be hard to pass up. These listings typically include prime locations, custom features and views, and other benefits other listings may not have, making lakefront properties for sale really stand out among other homes for sale.
Still, there are ways you can narrow down your search for lakefront properties by scrutinizing each listing carefully before you go and view a location. Your real estate agent can help you with this endeavor and can look up information about lakefront property listings that are not available online or in classic newsprint as well. What should you look for in lakefront property listings for sale? Here are a few things to consider.
Private/shared docking rights
Not all lakefront properties for sale will feature their own private dock, although many of them do. If you are looking at lakefront property listings and no dock is listed in the initial listing, have your real estate agent inquire about the specifics of a property before you go look at it. A new dock can cost anywhere from $5,000 to $50,000, which can be negotiated as part of your offer if you choose to move forward with lakefront properties for sale that don't have their own docks.
Soil erosion barriers
Any waterfront property, regardless of how well cared for the property is, is susceptible to erosion. Soil erosion and other types of erosion are caused by being close to a water line, so make sure any property you consider when looking at lakefront property listings has a retaining wall or another type of soil erosion barrier to keep the property safe and protect the home and landscape against any type of water damage.
Flood insurance costs
If you're considering buying among lakefront property listings, understand that there will be flood insurance costs in addition to traditional home insurance rates. Depending on where you live, your rates for flood insurance in addition to paying a mortgage can be up to over a thousand dollars a year. Your real estate agent can give you an estimate for flood insurance rates in your area based on previous lakefront properties for sale they have dealt with.
You won't get all the information you need about a property just by reading its initial MLS listing, nor will you get everything you need to know about a home by visiting it. When seeking lakefront property listings in your area, get your agent to help you gather details about waterfront homes you're interested in.
Contact a resource like The Stockton Team: Keller Williams Showcase to learn more.
This website can serve as your home for information about real estate. Here, you will find articles about the buying process and others on the selling process. We've also included content related to getting a mortgage, finding a real estate agent, and scheduling an inspection. We hope that by addressing all aspects of the real estate world, we will make you better prepared to handle any real estate transactions that might be in your future. After all, real estate can be a really smart investment, but only if you buy the right home and know how much to offer. Start reading, and enjoy what you find.