When you are looking to buy a second home for weekends and vacations at the lake, it can be difficult to understand all the new terminology. Lakefront, lake view, and lake access can all be very different houses at very different price points.
What does lake access mean?
Lake access is a term used for a home or lot that does not have direct access to the water. It could be across the street or it could be in the same neighborhood. When a home has lake access, this generally means that there is either a public boat launch in the vicinity or a private lakefront lot that is shared by several lake access homeowners. It may include docks available to rent or it may just have a boat launch, requiring you to take your boat out and trailer it home after each use.
If you purchase a lake access home, you need to do your due diligence and make sure there is deeded access to the lake.
Does lake view mean lakefront?
Lake view is another term that can be misleading if you do not understand real estate lingo. Lake view could mean lakefront but, in reality, it probably means a lot with a higher elevation that can see the lake from their windows. This home may have deeded access to use the lake or it may have a nice view and nothing else.
Is waterfront property more expensive?
When you want direct access to water, however, lakefront property listings offer the best option. You can walk right out your back door and onto your dock. This is extremely convenient and enjoyable for most people. This is also why lakefront homes are much more expensive than lake access or lake view homes. The upside is that lakefront homes hold their value from an investment standpoint. The old saying goes, "Buy a lakefront lot now. They aren't making any more of them."
What are the benefits of a lake access home?
Lake access homes are not only less expensive than homes located directly on the lake, but they also tend to be much larger lots. Some people even prefer them because lake access homes have a tendency to provide a bit more privacy.
How can you overcome a small lakefront lot when you need storage?
Many lakefront homeowners invest in a second lot located near their home, but off the lake. Lake access lots are less expensive and many people use them to build a second garage or pole barn for storage of boats, personal watercraft, and canoes over the winter months.
Whether you are looking for a lake view, lake access, or a lakefront property listing, talk to your real estate agent about what is available in your area.
To learn more, reach out to a company like The Stockton Team: Keller Williams Showcase.