Tag: lake home buying

Whiteboard Topics: 4 Gotta Haves to Consider When Buying a Lake Home

Posted on Linda Thach

When you are considering buying a lake home, particularly in a rural area, here are 4 “Gotta Haves” you will have to keep in mind.

  1. Cell Signal
  2. Internet Access
  3. Television Service
  4. 24-Hour Emergency Room

There might be hundreds of miles of lake shoreline, one side of the lake might have these services while the other side might not. Also, the terrain of the lake areas might determine the availability of these services as well.

Our knowledgeable agents are here to help you answer these questions and assist you in your lake home-buying journey.

Top 5 American Lakes with the Highest Elevation

Posted on Alexander Lee
Colorado lake mountain view
Photo courtesy of All Trails.

The United States is chock-full of lakes at all elevations, including some far above sea level. The title of the highest lake in America is up for debate. It ultimately comes down to a dispute over the precise definition of “lake” and whether designation from the United States Geological Survey is necessary to grant legitimacy to a lake. There’s even a website dedicated to the question. No matter the definition, the U.S. has some fantastic elevated lakes in beautiful regions of the country. 

Lake Muriel, Washington

mirror reflection of muriel lake during winter
Photo courtesy of Mapio.

The most elevated claimant to the title is Lake Muriel, an underground lake formed by meltwater within the summit crater of Mount Rainier in Washington state. According to some sources, this small lake is only a seasonal feature of the Mount Rainier crater. But at 14,100 feet above sea level, it’s certainly the highest body of water in America that has been home to a boat (in this case, a rubber raft carried to the summit of Mount Rainier by a National Geographic Society expedition). Due to its small size, many people do not consider Lake Muriel an actual lake.

Unfortunately for Muriel, this lake’s name is simply a local moniker, not an official designation provided by the USGS.

1. Pacific Tarn, Colorado

Pacific Tarn, Colorado Lake
Photo courtesy of Colorado Ascents.

As far as officially-named lakes are concerned, the highest lake in America is Pacific Tarn. This small pond sits at an elevation of 13,420 feet above sea level atop the eastern ridge of Pacific Peak in Colorado’s Tenmile Range. The lake was officially named in 2004, thanks to the efforts of Carl Drews, a Coloradoan amateur naturalist who first visited Pacific Tarn in 1993. On his website, Drews estimates that the area of Pacific Tarn is about five acres—enough to support a wonderful lake home. However, a construction project in the rarefied air of the high Rockies might present a challenge.

2. Winchell Lakes, Colorado

Winchell Lakes Blanca Peak
Photo courtesy of 14ers.

The second-highest lake in America is the uppermost of the three Winchell Lakes, a trio located on the east face of Blanca Peak in southern Colorado’s Sangre de Cristo mountain range. At 13,100 feet above sea level, this 2.3-acre lake is not to be confused with Winchell Lake, a much larger—and lower—body of water in Cook County, Minnesota.

3. Lake Waiau, Hawaii

Lake Waiau view of milky way during night Big Island Mauna Kea
Photo courtesy of Charles/Flickr via Only In Your State.

Coming in at number three is Hawaii’s Lake Waiau, the only glacial lake in the Mid-Pacific. This lake is 13,020 feet above sea level near the summit of Mauna Kea, a dormant volcano that doubles as the highest point on the Big Island. According to ancient Hawaiian legend, this bottomless lake was the point at which spirits traveled between the spirit world and the earthly plane. (Its actual depth is only 10 feet.) 

4. North Halfmoon Lake

Halfmoon Lake snow
Photo courtesy of Maia Averett.

We’re headed back to Colorado for the fourth-highest lake in America, with a height measured only a few inches below Lake Waiau. North Halfmoon Lakes are actually a chain of lakes, with the uppermost coming in at just about 13,020 feet above sea level. There isn’t much additional information about North Halfmoon Lakes, but this is the first lake on our list with a video that shows precisely how to find it!

5. Frozen Lake, Colorado

Frozen Lake Colorado ice snow

America’s fifth-highest lake can be found in—you guessed it—Colorado. Coming in at 12,950 feet above sea level, Frozen Lake is located on the south face of Mount Bierstadt in the Front Range of the Rockies. 

All of the lakes in this list require a fair amount of hiking to access them—so despite their picturesque locations, they probably aren’t the most convenient locations for lake living. But if the high-flying lakes on this list have inspired you to find a mountain lake getaway of your own, take a look at our listings in Idaho—and stay tuned for listings in Colorado next year!

Get Schooled on These Common Lake Real Estate Terms

Posted on Staff
white house on waterfront, features common lake real estate term "bulkhead."

Lake real estate transactions can be confusing, especially if you are unfamiliar with the terminology most often associated with the process.

At Lake Homes Realty/LakeHomes.com, we are committed to providing you with all the tools you’ll need to ensure your lake home buying or selling experience is both convenient and straightforward. 

In tandem with our buyer-focused articles on the questions to ask before you buy and the many options for buying lake property, this guide to common lake real estate terms is an excellent tool for preparing you for a successful lake home shopping experience. 

Dockable Lakefront: Properties with “dockable lakefront” are properties where no dock currently exists, but the land has a permit for future construction of one.

Seasonal Full-Pool: Some lakes, specifically those managed by power companies and the Army Corps of Engineers, experience scheduled water level drawdowns for flood control, shoreline protection, and invasive species control purposes. Lakes are usually at their lowest in the winter months.

Short-term Rental Restrictions: Not all lakes welcome weekend renters. Before buying a lake home with intentions of using it as a hotspot for summer vacationers, check with your agent about any short-term rental restrictions that may apply in your market.

Bulkhead: Usually made of wood, stone, steel or concrete, bulkheads are barriers or retaining walls around your lake property’s shoreline. These structures help protect against shoreline erosion, flooding, and poor drainage, as well as help to maintain water depth.

Rip Rap Seawall: Similar to a bulkhead, a rip rap seawall is a barrier between your lake home’s shoreline and the water created using rocks, stones, and other natural materials.

Grandfathered Dock/Boat House: On lakes suffering from overdevelopment, restrictions may be applied to prevent further damage to the lake’s shoreline stability. On Lake Lanier, for example, docks can no longer be constructed. If the home you are interested in buying has a dock or boathouse on the property, it might be “grandfathered in,” meaning so long as it existed before the restriction passed, it can stay.

Leased Lots: When buying a lake home, you may only be buying the physical house itself, apart of the land on which it sits. Instead, the land is owned by the entity that owns the lake and is leased to homeowners.

Deeded Lots: The opposite of a leased lot, deeded properties are those where you own the rights of use.

Corps Line: On Army Corps of Engineers lakes, the Corps line marks a variance between the lake’s shoreline and the purchased property that remains in the ownership and control of the Corps.

Though not an exhaustive list by any means, these common lake real estate terms are among the most frequently asked about in the industry.

For more insight on lake real estate terminology, get in touch with your local lake expert agent. 

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Deal Breakers When Buying a Lake Home (or Any Home!)

Posted on Glenn S. Phillips

You can find an impeccable home that offers promise for the perfect lake home getaway or residence, but there are aspects of buying a home that should automatically put it out of the running. Here is a list of deal breakers when buying a lake home.

Home Title Disputes

You will need to ensure that the property is not tied up in a divorce or separation. When a property is in between a scorned couple, it can cause issues for you, the buyer.

You will be required to purchase title insurance. During the dispute of a title, it will end up locking the purchaser in court or being put out of your new home.

Pest Problems

In addition to a home inspection, make sure that the house has and passes a termite inspection. Home inspectors do not look for pests or infestations, so this second inspection is required to make sure the home is free and clear.

History of Crime

DangerThe seller is required to tell the buyer of any crimes that were committed in or on the property. If there were any drug or violent related crimes that were committed, they must tell you. Besides superstitions, there are actual reasons why you should not purchase a home where these crimes have taken place.

For example, if the house was used as a place to cook methamphetamine (meth), the chemicals from creating this drug can stick to the walls, floors, and ceilings. This unseen residue can then cause health problems, especially in children.

Problems with Insurance

Besides the home itself, people should take into account the location of the property. This will also be a huge factor in the price of the property. There are reasons why you should look at the location. While not very common in lake communities, factors like the neighborhood reputation and the crime rates can be a deal breaker.

Crime rates and flood plains can be a couple factors to raise your insurance. Along with home insurance, you may need to pay more for insurance that covers the contents of the home since they are at an increased risk of being ruined or stolen.

Commuter Challenges

One issue many isolated lakes face is the commute time. If this lake home will be your permanent residence, then you have to consider commute times. Not only for your drive to work, but how close is the nearest hospital, gas station, grocery store, and other conveniences?

Issues with Construction

There can be construction issues that can be dangerous or undesirable. You will need to look for issues like water damage, mold, or even issues with the foundation. There are many issues that can cause the buyer to shell out a lot more money. Even after the purchase of the home.

If you find that your dream home has any of these issues, just move on. Keep in mind that this is an important decision and it should not be made hastily. There are plenty of available homes, so you should not feel like you are stuck with the first house you come across!

The Benefits of Paying Cash for a Lake Home

Posted on Glenn S. Phillips

Pay in cashIt is not often that you are put in a position where you can purchase a lake home for cash. The money is typically saved up over a period of time. It could also come from an inheritance or even prize winnings. No matter how you have been able to acquire the money, you can be sure that purchasing a new lake home with cash is probably your best option.

1. No monthly payments.

One significant benefit of paying cash for your lake home is that you will not have a monthly payment to budget into your finances. You will have the amount of a monthly house payment freed up every month. This alone is a good benefit to pay cash.

2. No interest to pay.

When taking out a loan to purchase a lake house, you will also end up paying thousands in interest. When you pay for the home all at once, there is nothing to build interest on. Therefore, when you pay for it in one lump sum, you will pay a lot less than you would have.

3. Sellers love cash.

When a seller is faced with an option of waiting for money through a bank loan or a lump sum of cash from a serious home buyer, they will give the cash buyer a deal in order to receive a large amount faster.

4. Lower closing costs.

When a buyer purchases a lake home with cash, then the closing costs will be lower than what it would be when using a loan. You can even negotiate that the sellers will pay closing costs since you are paying in one lump sum of cash.

5. Housing market fluctuations will not affect you.

Since you are paying in cash, the deal is done. Those who use a loan to pay for a loan will be subject to the market fluctuations. These fluctuations affect house payments.

6. Closing time is much faster.

When you don’t have to be subjected to the forms that the bank requires, and you don’t have to wait for the decisions, communications, or other aspects of including middlemen, then you can close on the home a lot faster.

7. Better financial standing when it’s your second home.

Yes, it was mentioned that you would not have a house payment for this home. But it is also a bonus benefit when this is your second home. It will cut the cost of having multiple homes. The payment that would have normally been paid every month will be used to pay bills for when you occupy the home and not when you are away.

Although there is a list of benefits listed here, there are plenty more. It is smart to pay cash for a lake home all at once should you be in the position to do so. You save money in so many areas that it is financially ideal to do so.