Lake Life Can Mean Many Different Things

Posted by Jolenta Averill on Friday, March 4th, 2011 at 6:57pm.

Lake Mendota Winter 2011Owning a home on a lake is a truly unique experience. As a residence, lakefront property brings with it an active lifestyle closely tied to nature. For investment purposes, real estate on a lake can be a great rental property often fetching top dollar as vacationers flock to these desirable areas. 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!

Life on a lake can be relaxing, fulfilling, and engaging. It provides its residents with a close relationship to nature, changing and flowing with each unique season. If you enjoy boating, then lakefront property is for you. The lake simply becomes your extended yard inviting activities such as fishing and swimming, or encouraging deep relaxation as one drifts and bobs in their boat on a calm lake. It allows the owner to be as active or as inactive as he or she pleases. Water sports beckon those looking for excitement, whereas a more laid-back individual can sit and gaze out onto the lake endlessly all day or night. A fine environment to raise children, nothing is more educational than being immersed in one’s natural environment year round. As an investment, lakefront property is very attractive. Its limited availability allows homeowners to ask for and receive a very generous rent from vacationers. During the busy vacation season, a home on a lake can be a very beneficial investment.

There can be some drawbacks to owning lakefront property. As previously mentioned, living on a lake immerses you in nature, whether you like it or not! Sometimes adapting to and dealing with one’s natural environment can be the most difficult aspect of owning a lakefront home. Winters on a lake can be very punishing, and if you have the aforementioned 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 mosquitos or gnats) to the relatively dangerous (depending on where you live, snakes and snapping turtles that lurk in swimming areas). Living by a large body of water always carries with it the risk of flooding, which in turn means higher insurance premiums. There are often very strict building restrictions with lakefront property so as to protect the environment and maintain the integrity and soundness of the home. Underground septic (both installing and maintenance) can cause problems with lakefront property adding all of the tests and expenses that accompany such an issue. 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, than take a look at life on a lake!

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Jolenta Averill, Principal
Lake & City Homes Realty
(563) BUY-SOLD

10 Responses to "Lake Life Can Mean Many Different Things"

MLS Online MN wrote: As a resident in the land of 10,000 lakes, I really enjoyed this post. In the Twin Cities metro area we have seen people selling off second homes (cabins) to and buying a local lakefront property to live on the lake everyday without the headache of traveling two to three hours every weekend. With the recent decline in values and spike in gas prices, this option will surely increase in popularity.

Posted on Monday, March 7th, 2011 at 10:08pm.

Vancouver Real Estate wrote: Great post! Lakefront properties can be great rentals! If you live an active lifestyle, lake life could be for you.

Posted on Tuesday, March 8th, 2011 at 12:58am.

The Rogers & Rush Group wrote: Great post. I am also from Minnesota (Duluth to be specific) and lake properties are a large part of the market. Also owning a cabin on a lake, I can testify to how truly incredible it is to wake every morning and see that body of water. It truly puts a smile on your face as you think of everything you could do later that day!

Posted on Tuesday, March 8th, 2011 at 11:48am.

Rufus wrote: Living on the water is great. Like you mentioned, many great benefits, boating, scenery etc. One HUGE drawback though, is mosquitos! They will make you want to stay inside! Best advice is to have a screened porch and mosquito mister for the backyard.

Posted on Thursday, March 24th, 2011 at 2:07pm.

Cameron(House Sale) wrote: This is a great place to be in. The properties are great. I just love the view out there. It calms and soothes me. I feel at peace with nature.

Posted on Friday, March 25th, 2011 at 3:01am.

bob lilley wrote: This is very interesting to me! I am in a California beach town just south of San Jose and San Francisco (it depends on whether you are a baseball fan or a hockey fan!). We enjoy the ocean and the Monterey Bay.

But water is water when it come to the attraction of people. Happily, you do not have to deal with tsunamis (we just had 14 million dollars worth of damage to the Santa Cruz Marina from the one that hit Japan!)

Posted on Tuesday, April 5th, 2011 at 11:30am.

Ashlee in Fort Worth wrote: I have always wanted to live on the lake. This is a great post that gives lots of insight into what lake living is really like.

Posted on Tuesday, April 19th, 2011 at 9:20pm.

Deborah wrote: Lake living looks like fun. Maybe in the future. Great article.

Posted on Friday, May 6th, 2011 at 7:37pm.

Joe wrote: Great post, you really know how to sell lakeside living! I appreciate the fact that you've included the downsides as well as the plus points. I personally would love to have a house by the lake, regardless of mosquitoes, maintenance or snapping turtles.

Posted on Saturday, May 7th, 2011 at 7:55pm.

Adam wrote: I only get up to our lake place a couple times a year and they are always the best days of summer....I hope some day I can live on the lake and have those days all year long. Thanks for the post.. great perspective!

Posted on Monday, May 9th, 2011 at 4:07pm.

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