Lake Living – What Homeowners Love Most

Estimated reading time: 5 minutes

Lake living is the best, at least we’re inclined to think so. But who can blame us? We are the lake people.

But before you decide whether the lake life’s right for you, take a look at some of the things lake homeowners love most about the lake lifestyle.

Innumerable Beautiful Sunsets

Photo courtesy of Clark Van Der Beken on Unsplash

Sunsets may be one of the universe’s most mesmerizing creations. They turn the skies from beautiful blue into vibrant pinks, oranges, and reds, smears of purple streaked with elongated tendrils of sunbeams.

After a long day of swimming, boating, fishing, and grilling, there’s nothing more captivating or more calming than the sun setting over a glass-smooth lake. And no matter how many days you spend staring out toward the horizon from your lake home, each day brings a sunset completely unlike the day before.

Fourth of July

Photo courtesy of KADM Creations on Unsplash

Hundreds of lakes across the country roll out the red carpets for out-of-this-world Fourth of July festivities.

Family-friendly activities include spectacular fireworks displays, poker runs, boat parades, and concerts by local artists.

Even if your lake doesn’t put on a grand show, most permit lake homeowners to privately shoot fireworks from their docks, decks, and backyards. Plus, no matter the degree to which you party for patriotism, at the lake, you can always count on there being good ol’ home-cooked food for the soul.

Family Time

Photo courtesy of Cybèle and Bevan on Unsplash

We all lead busy lives, and sometimes it’s hard to find time for quality family bonding. 

That’s not the case at the lake. In fact, all the time you spend at the lake can be time spent with family, be it with those related to you by blood or the family members you choose to share the lake with. 

At the lake, family time isn’t necessarily characterized by sharing stories around the dinner table, though that’s certainly one option. No, for most lake homeowners, family moments shared at the lake take place around fire pits and grills, on floaties and rope swings, and in the kitchen while the summer showers roll through. 

Outdoor Activities

Photo courtesy of Skoolie Project on Unsplash

Life on the lake is a nature lover’s paradise.

From boating to paddleboarding to fishing, there are plenty of things to do on the lake. However, if you need a break from water activities, going on a picnic or lounging lakeside in your backyard is the perfect way to relax and enjoy the picturesque lake views.

If staying active is more your style, hiking or taking a stroll around the lake is a great option. Additionally, it’s a fantastic opportunity to observe wildlife while taking in the natural landscape.

The Memories Made

Photo courtesy of Mariia Horobets on Unsplash

Ask any lake homeowner, or any lake lover for that matter, what their favorite memories are, and you’re guaranteed to hear a litany of wonderful things that happened at the lake. That’s because life’s best moments are made at the lake.

The lake is where grandfathers teach their grandkids to fish, where favorite uncles grill the best hamburgers, and where sons and daughters learn to swim.

It’s the perfect place to gather in celebration of birthdays, holidays, and milestones, like graduations and baby showers.

And the lake is where s’mores are shared, where minnows are turned into pets, and where some of life’s important lessons are learned.

Memories made at the lake are more than special; they are priceless.

It’s all these things and more that make lake living so worthwhile. They are why buying a lake home is more than a real estate transaction; it’s about attaining a lifestyle—the lake experience. 

If you’re ready to invest in your best future, let us — the lake people — help make your dream a reality.

This article was originally published on July 31, 2019.

Whiteboard Topics: What Else Should I Ask When Buying a Lake Home?

Purchasing a lake home is not something to take likely. Before you commit to a property, consider these factors from Lake Homes Realty’s CEO, Glenn Phillips.

  1. Bridges?: The location of bridges will impact how convenient it will be to travel around the area. However, the closer you are to one, the closer you’ll be to traffic.
  2. Water Levels?: The water level can vary by lake, season, and time of day. It’s important to know the behavior of your preferred lake, as the changing levels can affect lake activities.
  3. Shoreline Restrictions?: Research the restrictions surrounding the shoreline, as they tend to fluctuate throughout the area.
  4. Land Restriction?: Most lakes are owned by an organization, which means you’ll run into leased-land properties. You’ll have to follow their guidelines when buying these types of homes. 
  5. Water Restrictions?: Living by the lake doesn’t guarantee you have free range on the water within it. Check out the rules around water activities, water addition/removal, etc.

When buying a lake home, the property itself isn’t the only thing to consider. Be sure you can live the lake lifestyle you want before you buy!

Whiteboard Topics: Why Buy a Lake Home on a Leased Lot?

Leased lots are more common around the lake than you think. Lake Homes Realty’s CEO, Glenn Phillips, shares why you should consider purchasing these properties.

  1. Common on Many Lakes: Larger lakes were built by power companies, and in order to maintain control of the surrounding land, they prefer to lease lots instead of selling them.
  2. Buy House, Transfer Lease: When buying a home on these lots, the lease will get transferred to the new owners of the property.
  3. Reconsider Time of Homeownership: There’s no need to fear the time length of a lease. If you want to stay longer than your allotted time, you can always renew it. If you’d like to leave sooner than expected, the lease will be transferred to your buyers.
  4. Can Still Finance a Home: Local lenders who are familiar with this structure will have no issue helping you finance.

Buying on a leased lot is a great option for buyers. Remember, you aren’t restricted to the timeframe of the lease because of renewal and transfer options!

Whiteboard Topics: How Are Lake Home Sellers Different?

Lake home sellers differ from those in other markets for many reasons. Lake Homes Realty’s CEO, Glenn Phillips, shares the most significant factors to consider before searching for your dream lake home.

  1. Older: Because a lake home is a discretionary purchase, most sellers fall into the older demographic.
  2. Economy Blind: These sellers aren’t as affected by changes in the economy due to their ability to afford a more expensive lifestyle. This factor may also dampen the appeal of a cash offer, as this is extremely common on the lake.
  3. Lack Necessity: Owning a lake home is an elective purchase, meaning those who choose to have one can afford to keep one. Because of this, owners lack haste when selling.
  4. Patient: The biggest incentive these sellers would need to sell their home is a grandiose offer. Without one, most don’t have a big enough reason to budge.

Understanding the demographics of the lake real estate market will help your chances of buying your dream home on the lake!

Whiteboard Topics: How To Spot An Overpriced Lake Home?

Just because a lake home is a discretionary purchase, doesn’t mean you should overpay for one. Lake Homes Realty’s CEO, Glenn Phillips, shares how to spot an overpriced property.

  1. Price… “Sort Of”: What’s considered overpriced for one home on the lake may be a great value for a similar property in the area. You have to keep certain factors in mind before you start comparing homes.
  2. Days on Market: A high number of ‘Days on Market’ is usually a sign that other home buyers have deemed it inappropriately priced.
  3. Clues in Photos: Assess photos for current conditions. Sellers may try to reimburse themselves for the money they’ve invested in the past despite it being outdated.
  4. FSBO: These sellers aren’t as knowledgeable about today’s market as a traditional agent would be. This typically leads to them overshooting the current value of their home.

Watch out for these signs and you’ll find your dream lake home with the right price tag!

Whiteboard Topics: How Are Home Buyers Different?

Lake home buyers differ greatly from their residential counterparts. Lake Homes Realty’s CEO, Glenn Phillips, breaks down the traits of these types of buyers.

  1. Money / Financing: Over half of lake home transactions are with cash. If buyers do decide to get a mortgage, they are more than likely favorable candidates for them.
  2. Motivation: The average lake home buyer has one of two reasons for moving closer to the water. They’re either eager to move because they’ve become enthralled with the idea of a lake home, or they want to enjoy the slower-paced lifestyle of lake living.
  3. Timeframe /Patience: These buyers are searching for their dream home, meaning any old property won’t do. They have plenty of patience, and time on their side.
  4. Impact of Economy: Even in times of economic uncertainty, lake home buyers are still active in the market. Although a lake home is a discretionary purchase, it can be a great place to hold your money.

The best way to cater to a potential lake home buyer is to understand their behaviors and what they want in their dream home. This insight should make your real estate journey much smoother!

Whiteboard Topics: How To Find Your Dream Lake Home

Before embarking on your lake real estate journey, you have to set some groundwork. Lake Homes Realty’s CEO, Glenn Phillips, presents five ways to prepare yourself in order to find your dream lake home.

  1. Know What You Seek: Clearly define what you want in your lake home. It’s extremely difficult to find the right home if you don’t know what you’re looking for.
  2. Know What You DO NOT Want: Knowing what you don’t want will help narrow your search to more promising homes. 
  3. Long Time-Frames: Lake homes are discretionary purchases, which results in a slower moving process than traditional residential real estate. Prepare to be patient for the home that you want.
  4. LakeHomes.com Email Alerts: To stay on top of the lake homes that match your criteria, sign up for email alerts at LakeHomes.com.
  5. Lake Expert Agents: Be proactive in communicating with a lake expert agent. Doing so will help them find the best lake home for you.

Setting the foundation for a smooth home-search process will make all the difference. Find your dream home with confidence after adding these steps to your checklist!

Whiteboard Topics: How Do I Buy An Overpriced Lake Home?

Finding the home of your dreams with an egregiously high price tag can be discouraging. Lake Homes Realty’s CEO, Glenn Phillips, gives six factors to keep in mind when facing an overpriced home.

  1. Keep Options Open: Becoming fixated on a home can cause you to miss out on other opportunities. Keep an open mind for all potential properties.
  2. Patience: Good things come to those who wait. Although it can be challenging, remember to take your time during this process.  
  3. Listen…and Ask: Be mindful with your questioning, and actively listen to your realtor when they share information. Doing so will help you adapt to your seller’s needs.
  4. Bring Data: Collecting your own information in regards to the market will help you during the negotiation process. It can help determine a realistic price for a home, rather than relying on an inflated number a seller wishes to receive.
  5. Flexibility: If you find your dream home, you don’t have to be so rigid when negotiating. Decide what you’re willing to compromise on to get to a deal both parties are comfortable with.
  6. Be Ready to Walk: Becoming attached to a home can cause you to make rash decisions. When you’ve exhausted your capacity for compromise, be willing to walk away.

When entering the lake homes market, a hefty price tag can be disheartening, but you shouldn’t let it deter you from buying the home of your dreams. Stay prepared, and you will be able to negotiate your way to a manageable price!

Whiteboard Topics: Has The Lake Real Estate Market Shifted?

Nothing in this world is stagnant, and that includes the lake real estate market. Lake Homes Realty’s CEO, Glenn Phillips, gives four tell-tale signs that the market is shifting.

  1. Inventory Increases: There is an uptick of homes on the market, which has been a positive shift in available inventory.
  2. Days-on-Market: The average time a home spends on the market is beginning to increase. The longer homes sit on the market, the more time buyers have to evaluate their options. 
  3. Price Cuts: The combination of increased inventory and growing day-on-market is leading sellers to cut down their prices; a trend we haven’t seen in the past few years. 
  4. Surge of ‘Better Hurry’s’: In an attempt to maximize profit, surges of sellers are putting their homes on the market while it’s still in their favor. 

As the world around us changes, so will the real estate market. The best way to secure your investment is to recognize these signs and plan your buying/selling strategy around them.