Want to Buy a Home on a Lake? 4 Things You Need to Check Out

Purchasing a waterfront property can allow you to live a very special version of the American dream. Living on the waterfront is a step up from just having your own home; you have your own little slice of natural beauty to enjoy every day.

If you are interested in purchasing a lakefront single-family home, you need to carefully inspect a few different property elements first.

1. Pull Permits on Docks & Outbuildings

If the property has docks or outbuildings, you are going to want to pull the permits on those buildings. You want to make sure the dock on the property is permitted to be there. You should also make sure that any outbuildings are also legally permitted to be on the property. You don't want to purchase the property, only to have to remove a dock or outbuilding you were planning on using.

2. Get the Bulkhead Checked Out

On many waterfront properties, there is a bulkhead. The bulkhead is there to protect your property from rising water levels. That is why it is important to get the bulkhead inspected and make sure it is in good shape. It can cost thousands of dollars to replace a bulkhead, so you want to make sure the condition of the bulkhead represents the price of the home.

3. Make Sure the Home Is Well-Protected

Third, you want to make sure the home is well-protected. Homes located on the lakefront experience a lot of wind and blowback on the properties. You want a property that has strong windows, roofs, and protective elements, such as storm shutters. When you live near a body of water, you also want a home with a tall foundation as well. Make sure the home is well-protected and can withstand being located next to the water.

4. Look into Flood Insurance

Fourth, you need to investigate flood insurance as well. Before you go through with the purchase, you need to figure out the cost of flood insurance for the property. Flood insurance usually costs a lot more than homeowner's insurance. You want to make sure this is a cost you can afford from year to year.  

When it comes to purchasing a lakefront property, you need to look beyond the house and the landscaping and do a little more research. Ask your real estate agent for help to properly check these and other aspects before making your final choice.