Many buyers say that purchasing their dream lakefront home was the best think they ever did. But buying lakefront property is different than any other real estate. Answer “yes” to any of these 10 questions below and your ability to finance, as well as your ability to enjoy your dream home, may be in Jeapardy!
- Is the property a candidate for flood insurance?
- Is access to the property provided via a private road?
- Is there a private septic system that may fail/has failed a state inspection?
- Are there non-native aquatic plants in the lake and is there a plan to control them?
- Is the property considered seasonal? Accessible only X months / year?
- Is the lakefront property on leased land?
- Are there any easements, right-of-ways, legal restrictions, etc.?
- Is there any pending litigation regarding the home, lake, dam, access?
- Are there any betterment fees that have not been paid?
- Are there recreational restrictions for boating, swimming, etc.?
In fact, this is just a portion of the critical questions to ask. We have a list of 37 questions devoloped over the last 10 years that you MUST ask when buying lakefront property. Don’t let your lakefront dreams become a nightmare…learn more here!
Scott Freerksen “The Lake Guy”