Choosing A Home On A Lake? What To Consider Before Signing A Purchase Offer
Posted on: 30 October 2020
A home overlooking a picturesque lake has long been a popular vacation or retirement dream for many Americans. Some want to enjoy their retirement years in a lake-side setting, while others want the convenience and comfort of having a designated property capable of providing relaxation and recreation for family vacations and weekend getaways. Whatever your reason for purchasing a lake home, this information will help you feel more confident about the home you ultimately decide to buy.
Expect a more detailed inspection process
The inspection process involved in buying a lake home should pay special attention to potential issues that are more likely to be a problem for homes near water. Depending on the distance from the home to the water, excess humidity and very moist conditions can cause faster deterioration of roofing and exterior finishes. If conditions are very moist, an inspection for mold, mildew, or wood rot may also be needed.
If the listing also includes other structures, including sheds, retaining walls, docks, or boathouses, they should also be carefully inspected for damage or repair issues that could affect the value of the property.
Get a good understanding of the septic system
Rocky shorelines and environmental concerns can make it difficult to install a traditional septic system with a drain field on lake lots. A common solution to this problem is to custom design a septic system that will be safe and efficient in a lake setting.
Prospective buyers of lake home properties will want to ask extensive questions about the septic system of each property they are seriously considering and get as much documentation as possible, including a diagram of the system and information about the installer and permits used for installation and the current maintenance or repair history.
Understand the language used in marketing lake homes
When prospective buyers become interested in lake properties, they may quickly begin to note some differences in the marketing language used in ads for these properties. While every property in a lake community might technically be called a lake home in a broad sense, not all will actually be waterfront property.
Instead, houses situated on receding tiers from the lake's edge may be marketed as water view or lake view homes or may be advertised as overlooking the water.
Review all community rules and restrictions
Prospective buyers will also want to get a copy of all current rules and regulations that affect the property and its owners or occupants. A good way to learn as much as possible about purchasing a lakeview house for sale is to work closely with a real estate professional.
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