There’s nothing quite like the lifestyle afforded by living on a lake – a lifestyle intertwined with nature. If you enjoy boating, lakefront property is ideal for you. But, even as investment property, lakefront homes offer a lot to the buyer, fetching top dollar as a vacation home or as a full-time rental.
Like any unique setup, however, lakefront property does come with a few disadvantages. It can be demanding to those who are not prepared. However, if you love nature or are looking for a good investment, lakefront real estate does not disappoint.
Scientists have been telling us for years how much healthier it is living within view of a body of water, but that’s not all lakefront property affords. Your backyard becomes your playground where you can fish, swim, enjoy water sports or just laze away a summer day, bobbing around the lake in your boat.
Okay, there are some disadvantages
One of the disadvantages to lakefront living is the aforementioned “nature in your backyard” aspect. Winters on a lake can be very punishing, and if you have a boat, then winter maintenance for your vessel is another concern.
Depending on your area, warmer weather can bring hazards as well from the merely irritating (swarms of gnats) to the relatively dangerous (depending on where you live, virus-carrying mosquitos, snakes and snapping turtles may lurk in and around swimming areas).
Living by a large body of water always carries with it the risk of flooding, which in turn means higher insurance premiums. To protect the environment, there are often very strict building restrictions with lakefront property and underground septic systems (both installing and maintenance) can cause problems as well.
Investors are wise to be wary, never forgetting the seasonal fluctuations of demand for such an area. Usually rentals decline in the off-season, and winters on lakes can require some exhaustive maintenance and expense.
While certainly there are some downsides to owning property on a lake, by and large it is a truly unique and appealing lifestyle. If you’re an investor, lakefront property represents a desirable and limited asset, capable of making a substantial profit in the right hands. Whether you want to make money, or simply gaze out at an ever-changing beautiful landscape, take a look at life on one of Wisconsin’s gorgeous lakes.
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Jolenta Averill, Principal
Lake & City Homes Realty