Lake Home Buyers – Try Before You Buy

Estimated reading time: 4 minutes

Couple viewing a lakefront house for sale with scenic lake backdrop

Some purchases in life require a trial run before committing, whether it’s cars, mattresses, or lake properties. The latter is often one of the most significant investments you’ll make and while the appeal of a laid-back, lakeside life is enticing, there can be unexpected challenges depending on where you buy.

To ensure your property investment is the right fit, experience the local lake lifestyle before taking the plunge into lake home ownership.

Every Side Has Its Story

Photo courtesy of Toby Hall on Unsplash

Just as people differ, lakes have unique personalities, and even different parts of the same lake can vary drastically. For example, one end of the lake might be quiet, secluded, and primarily occupied by adults, while its opposite end is a party cove bustling with energy.

Where you choose to buy depends on the lifestyle you desire and your intended uses for the property.

If your main reason for buying a lake home is to enjoy a quiet morning coffee on your dock or watch the grandchildren swim, find a location with minimal boat traffic and safe swimming conditions.

However, if you’re looking for the best water for watersports and activities, consider areas with deep water and open space for smooth, wide turns. Proximity to a marina is also crucial since watersports typically consume more fuel than leisurely cruises. 

Peak Season vs. Off-Season

Most lake lovers and prospective lake homeowners understand what lake life is like during the summer, but what about when the air turns cold and the boats are safely stored?

Among the many reasons lakes are superior to beaches is that, unlike beach towns, lake towns don’t completely shut down during the off-season. On some lakes, the towns surrounding them bustle with the same energy no matter the season. On others, marinas close, restaurants shut down and residents fly the coop until the next year.

Additionally, some lakes, like Alabama’s Logan Martin Lake, experience seasonal drops in water levels. This lake is lowered by about five feet in the winter, only to return to full pool from May to October. These controlled water level changes help manage seasonal rainfall, but low water levels during the off-season can potentially damage docks and bulkheads or leave boats and other watercraft grounded.

Visiting your prospective lake home during the off-season lets you understand how the area operates when the tourists leave, providing a fuller picture of year-round living.

Try the Food, Map Out the Amenities

Part of the appeal of living at the lake is being outdoors, not being cooped up in the kitchen. Grilling is great, but every night? Even when you plan to cook most of your meals at home, you will want to dine out occasionally. Before committing to your lake home, explore the local cuisine scene.

Also, be sure to map out the proximity to essential locations such as gas stations, grocery stores, and hospitals. Lake living goes beyond the house and the boat; it’s about the overall lake experience.

If you think you’re ready to dive in, be sure not to do it blindly and give the lake lifestyle a try before you buy.

Whiteboard Topics: Buying? 4 Advantages Of Hiring A Lake Homes Realty Agent

When buying a lake home, the average commercial real estate agent just won’t do. Lake Homes Realty’s CEO, Glenn Phillips, explains the benefits of working with Lake Homes agents who specialize in the lake real estate market.

  1. Market Expertise: Lake Homes Realty agents don’t just dabble in lake properties. They specialize in their local lake area, which is essential in understanding the complexities of lake real estate.
  2. Price Knowledge: Our agent’s knowledge isn’t limited to their lake area. They understand the pricing trends of lake properties around the nation, which will help you get the best deal on your dream home.
  3. National Network: If during your search you discover the lake you’ve chosen isn’t for you, our agents can connect you to another Lake Homes agent whose lake you may prefer.
  4. The Lake Real Estate Specialists: We are the lake real estate specialists, which means our agents know the market better than the average realtor. 

When choosing a realtor, it’s important to work with someone who knows the lake real estate market better than anyone else. When choosing a Lake Homes agent, you can rest assured that you’ll be working with the best of the best!

Whiteboard Topics: Six Reasons You Don’t Need a Physical Office

If you’re looking to buy or sell a lake house, you may wonder if it’s necessary to pick an agent with a physical office. Contrary to popular belief, brick and mortar isn’t necessary to sell a home. Lake Homes Realty CEO, Glenn Phillips, gives 6 reasons why your lake agent doesn’t need an in-person office

  1. The office isn’t relevant in a digital world 
  2. Time is precious, and office meetings take time from viewings 
  3. Many top producing agents work more effectively without a physical office 
  4. Offices don’t sell houses — agents and brokers do
  5. Buyers enjoy the convenience of an online platform
  6. Money spent on office leases could be spent helping clients

Just because an office environment is familiar doesn’t mean it’s the future of real estate. The best agents can do their work anywhere. Find an agent today at Lakehomes.com to have your questions answered. 

Whiteboard Topics: Navigating New Mortgage Challenges

Are you thinking about using a mortgage to buy a lake home? Since interest rates are low, it’s a good time to use a loan. However, mortgaging a home comes with unusual considerations during the pandemic. Lake Homes Realty’s CEO, Glenn Phillips, names these 4 mortgage challenges to keep in mind

  1. Money is not easy or fast
  2. The process requires extra verification
  3. The pre-approved letter doesn’t matter as much as it used to
  4. It’s important to take extra time in the process

When you’re ready to buy a lake home, visit lakehomes.com and check out our daily listing updates.

Canyon Lake Expects Market Uptick From Lake Dunlap

Canyon Lake expects to see an influx of new potential buyers this lake season, as former Lake Dunlap consumers turn their attention to the lake’s more ideal market conditions following recent issues with the Lake Dunlap dam.

“There is a lot of uncertainty for our neighbors in the Lake Dunlap community as we wait to hear what the timeline will be for restoring the dam,” said Tara Biesboer, a Lake Homes Realty agent who specializes in Lake Dunlap properties. “Lakefront property owners are also concerned about how recent events will affect the lake’s real estate market this summer.”

While plans for reconstruction are in development, many buyers previously interested in Lake Dunlap real estate will likely turn their attention to Canyon Lake, located roughly 30 miles northwest.

Overlooking Canyon Lake from lake home balcony

The tenth-largest lake real estate market in the Lone Star State, Canyon Lake’s inventory is primed to meet the anticipated needs of these consumers.

In early March, the lake’s real estate market was valued at approximately $93 million and featured 422 total listings. But as the market approaches Memorial Day weekend — and the unofficial kick-off to lake season — inventory has increased roughly 6% to about 450 listings.

Listings will likely continue increasing as summer progresses when homeowners know the most potential buyers will be in their market. Traditionally, summer sees the highest inventory volumes and lowest average home prices of the year.

“Lake Dunlap sees buyers from all across the country,” Biesboer said, “many of them from California. Californians, in particular, have been flocking to Texas for its affordability in comparison to vacation and second home prices on the west coast.”

According to a recent report published by LakeHomes.com, more than 25% of all potential Texas lake home buyers, including those shopping Lake Dunlap properties, come from outside the Lone Star State, with the highest concentration of potential buyers originating in the Los Angeles area.

Similarly, web-traffic data indicates Canyon Lake’s market will likely see increased interest from buyers in LA, Denver and New York, along with consumers in Houston, Dallas-Fort Worth, Austin, Odessa-Midland and the Waco-Temple-Bryan areas of Texas.

Buyers looking for lake homes listed near Canyon Lake’s average home price of $426,000 will have the largest variety of properties to shop this summer, as listings priced in the $250,000 to $500,000 range represent 44% of all Canyon Lake homes for sale, according to LakeHomes.com’s 2019 Spring Lake Real Estate Market Report.

Homes listed for below $250,000 represent 33% of all residential properties on the market, followed by listings priced between $500,000 and $700,000.

Canyon Lake homes for sale between $750,000 and $2 million in list price make up a combined 8% of total home listings, with roughly 1% of homes listed at or above $2 million.

“This past week was a whirlwind for many homeowners, and we are all sending up good thoughts that their lives return to normal as soon as possible,” Biesboer said. “Moving forward, I hope I can continue to be a source for the community as we learn more about future market conditions.”

If you are interested, click here to view our current Canyon Lake Listings