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5 Questions to Ask Before Buying a Lake House

Posted by Katherine Haas on November 19, 2018
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questions to ask before buying a lake house

Lake house living—it sure sounds idyllic! Of course, before you can nestle into your lovely Lake Martin home, there are still a few matters to take into account. Use these questions to ask before buying a lake house as a guide to help you plan out the essentials and allow you to enjoy even more of a sense of relief after you find your perfect property.

  • For what purposes will you use your lake house? Is your lake house going to be for weekends? Certain seasons? Sporadic vacations? Swimming? Boating? For family members or friends to use collectively? A source of profit? A future retirement home? Before you pick out your future lake house, make sure that you know what you’ll use it for and when you will use it.
  • Have you thought about year-round maintenance? Make sure that you know just how you will maintain your lake house—even when you’re not there. This could include cleaning, plant care, and yard and property maintenance throughout the seasons.
  • Will you rent it out? Often, those who own lake houses don’t spend every day enjoying their properties. Instead, they split time between their lake houses and their permanent homes. If this is the case for you, then you may be giving up valuable income by not renting out your lake house during the time you are not there. Vacationers from all over can help you out with your mortgage, paying you rent or fees for an overnight stay.
  • Have you factored in the cost of home and flooding insurance? With lake houses, you may not be there every day, but you’ll still have to pay regular insurance. Get quotes from insurance agents before you buy. That way, you can secure your new home with both eyes open—and you can avoid sticker shock when you see the price of insurance.
  • Have you thoroughly inspected the lake house? Maybe you’ve answered all the other questions, and it’s nearly time to purchase your lake house. However, if you haven’t thoroughly inspected the lake house—with a trained inspector—you may find a few flaws that you don’t like. They can range from small surface flaws, like walls in need of repainting, to bigger issues like the water-heating system or loud, creaky floors. While a few cosmetic changes could fit into your financial wheelhouse, bigger repair costs could sink your dreams of living on the lake.

After you answer these questions to ask before buying a lake house, you can take the next step: picking out your dream lake home! After that, it’s smooth sailing!

To find a wonderful lake house on Lake Martin, look no further than Realtor Ryan Roberts. Experienced with real estate in the Lake Martin, Auburn, and Opelika area, he can steer you towards all the amazing options. Simply email him at [email protected] or call him at (334) 750-9872 to start the process. As for finding out further facts about home-buying, have a look at our blog.