Buying Tip When Purchasing A Lake Property

8 Buying Tips when Purchasing a Lake Property

You know in real estate they say "all agents are not created equal" and this could not be truer when it comes to dealing with lakefront  properties.

 

We Deal with Cottages to Luxury Estates

 

Work with a Realtor who has knowledge of the lakes

An astounding number of buyers sign up with Realtors that just don't have the experience or expertise needed to gauge all that goes into the purchase of waterfront property. The best step you can do is to hire someone with prior, proven and effective experience in dealing with such homes. Hire an agent familiar with shoreline rules, state building setbacks, dock rules, water quality and clarity. There are 250 lakes in the NH Lakes Region and to be honest I can only recommend about 75 of them.

Look at More than the Structure

The home may look wonderful and seems to fit your family's needs. Question what parts of the home can you change or add on to or is the current footprint all you have to work with. What about the water quality and the is the bottom sandy or mucky for swimming,  Are you happy with the view? You may not be able to cut trees to make any improvements along the shoreline.

 

Does the location Match Your Lifestyle

Keep your lifestyle in mind when seeking lakefront properties. Ask yourself what your primary use of the property will be. Do you plan on spending most of your days out on the water fishing or boating?  What about using the home during the winter months, how close are the ski areas or access to snowmobile trails . What types of recreation or amusements are around the area for days not spent on the lake or those rainy days.. Prior to Visiting a Home, Call your Local Banker

Unlike conventional properties a lake home may not match what your local bank will even make a loan on.  If the bank is selling the loan in the secondary market most will not give you a loan on a seasonal or island property. You may need to find a bank that will hold the note in house. Do your homework up front. If you find that perfect home you may need to act quickly and if your banking is not lined up you may lose the home. My best advice is use a local small bank. Just trust me on this one. Insurance

Check to see if the home is in a flood zone. This past November FEMA recreated all the flood maps putting almost every home on every lake in the flood zone. Don't trust the old owner, his policy pre-dates the FEMA changes.  Flood insurance is expensive. If you are in the flood zone you may be able to work with a local surveying company to get an elevation certificate to avoid the insurance. Don't laugh when you view the FEMA maps, pretty sure they were done hundreds of miles away with a crayon.  Other areas of insurance you may have to deal with are private roads, you will need a road agreement, if the road is private and fire hydrants will be brought up. Pump the water out of the lake!

When doing your inspection check everything.

Inspections are critical for properties located on or near the water. Not only that, it is important to work with an inspector that has proven experience in dealing with similar properties. The reason for this is that the nature of these properties is completely different than standard homes. In addition to checking the structure check the home for radon air and water, plus the complete battery of water tests including arsenic.

Talk to the neighbors.

Ask the neighbor where the property line is, half the time no stakes can be found on waterfront properties. What about any problems you may have heard about with the home or the neighbor on the other side, do talk to all the neighbors. I have seen many buyers run for the hills after talking to the neighbor.

Lastly are you ready for a second home?

Many buyers neglect to realize the level of responsibility involved in owning a waterfront property.  Heating the home, general maintenance, outdoor landscaping , plowing the driveway, dock maintenance, buying and maintaining a boat and the added, taxes, insurance costs associated with owning a second home.  Think it through.

When you are ready to move forward call us, we have over 20 years of valuable lake experience.

For additional information on purchasing a lake home in NH call Lady of the Lake Realty  at 1-888-737-5550 or e-mail at info@nhlakesrealty.com or visit our website to view recommended lakes and homes in New Hampshire at www.nhlakesrealty.com or www.lakeorskirealestate.com.

Tips on Buying A New Hampshire Lake Home!

1. It's All About The Water!

When looking for the perfect lake home remember the most important asset is the lake not the house. You can change the house but not the lake or setting.  It may seem obvious, but many people forget that there are many different  considerations you need to make with water lots.

 

Winnipesaukee Real Estate, Moultonborough

Cottage and Bunkhouse on the Kona Shoreline - Winnipesaukee

 

2. Choose a lake that fit's your Lifestyle!

If you are truly interested in a quiet lake for kayaking you can select a lake that fits this criteria. Some lakes allow jet skis while others have a horse power limit. There is a lake in NH that will fit your families needs. Other aspects to think of? ( Travel time, fishing, golf, ski resorts, shopping, entertainment, theater or concert venues ) 

3. The home has to have a view of the lake!

In the city your home needs curb appeal, on the water you need dock appeal. Look for a property with open water views from as many rooms as possible with expansive windows and a deck area that can handle a crowd.

3. Topography Is Important!

Are you looking for a large lake to explore by boat, or simply enjoy the beautiful water and mountain views? You can have excellent views on a 500 acre and if you have grandchildren it is easier to keep track of them on a smaller lake, they tend to be in sight all the time.  Ideally the lot should be level, sandy beach, private, western exposure, and deep water docking. Make sure the water deep enough to swim in?

4. Bring The Outside Inside!

Well-designed lake homes have large expansive windows and sliders leading out to decks for that weekend party or grilling the family meal.  The kitchen work area should have views to the lake and is open to the living room or great room.  Technically the bedrooms are secondary. You are at the lake to enjoy the outdoors. Even in the winter the wood stove or fireplace should be positioned to view the lake.   

5. Four Seasons of Activities!

New Hampshire is lucky enough to experience all four seasons. Each is magical in its own way; summers are warm and perfect for swimming, boating, autumn sees cooling temperatures, wonderful foliage, winter brings skiing, skating, snowmobiling and spring is full of life and perfect for fishing or hiking.

6. Location!

Talk to neighbors. Get insider information from neighbors by asking if they enjoy living on the lake, if they have any knowledge about the property you're thinking about purchasing, or if there are any waterfront-related problems,

7. Rules!

Find out what you can do with the property? If you want to make any changes to your waterfront property NH has guidelines covering the shoreline, what you can do and can't do. Always check prior to making any changes within 250 feet of the lake. Check to see if there are any association or community rules you need to be familiar with. 

8. Maintenance!

We all need to pay attention to routine maintenance of our home, the grounds are a different story.  My favorite lake lots are a combination of sand, pine needles and a patch of grass. Yard maintenance should be 20 minutes or less in my opinion.  An aluminum crank-up dock is a bonus. 

9. Financing

Call your banker and get a pre-qualification letter. Takes a few minutes on online or with a phone call.

10. Who Should I Call?

Choose your realtor like you would choose any other professional. If you need glasses you visit an eye doctor not an internist.  Paula and I are specialist in our field. We know the lakes and can answer your questions regarding water quality in the greater NH Lakes Region. Call us with your criteria and bank pre-qualification letter and we will find that dream home for you.

For additional information on lake homes call 1-888-737-5550 or e-mail at info@nhlakesrealty.com  or visit our websites to view lake homes, condo's, docks in New Hampshire at www.nhlakesrealty.com or www.lakeorskirealestate.com.  

Contact Carl Sack or Paula Hinckley   #nhlakesrealty

Lake Home buying Advice - Choose the right Lake and Agent !

First step is your wish list and then we start sending you lake homes that match what you are looking for. The next step is getting you into the homes so you can view them. 

 

merrymeeting lake home for sale

2 Acres - 4 Bedrooms - 2 baths - level lot - $435,000 on Merrymeeting

 

Action Speaks Louder than words!!!!

We found over 25 lakefront homes and condo's for buyers in 2015 priced from $190,000 to $1,925,000.  A home is out there for you and we can find it.

Our Goal is to find that dream lake home.  Here are a few of the lakes that our customers will be building memories that will last a lifetime. 

Winnipesaukee - Newfound - Merrymeeting - Sunrise - Loon Pond - Wentworth - Silver Lake - Sunapee - Squam - Highland - Sawyer - Pawtuckaway - Pleasant

In addition to lake homes we were successful in finding lake access homes for buyers, some with docks. 

 

winnipesaukee compound with a boat house

$3.9 Million with 6 acres on Winnipesaukee

 

For additional information on lake homes call 1-888-737-5550 or e-mail at info@nhlakesrealty.com  or visit our websites to view lake homes in New Hampshire at www.nhlakesrealty.com or www.lakeorskirealestate.com.

Contact Carl Sack or Paula Hinckley   #nhlakesrealty

Buying A Lakefront Home can lead to some uncertainty!

You have a magical checklist.  Sunsets, Sandy Beach, Three Bedrooms, Two bathrooms, Level Lot, Large Lake, Newer Construction, Private Lot, Move in Condition and the list goes on. Plus you want the home located close to skiing and attractions. 

Unless you know exactly the lake you want to be on get in the car and drive around.  Seeing five homes in the Wakefield or Washington NH area and then deciding you don't want a remote location is a waste of time.  ( Buy the lake and setting not the home )

Get in your car and spend a day driving around looking at lakes and amenities in the area. 

Send your list of prospective homes to your agent and ask their opinion. Photography can make a shack look like your dream home. That beautiful looking home may have a busy street between the home and waterfront. Ask for Help.

Ask your agent to send a list of homes they would recommend from your checklist. Your agent will send you homes that most closely match the criteria you are looking for. 

Talk with your banker and establish a price range you are comfortable with and get a pre-qualification letter so when you find that dream home you can move quickly. 

Remember you can always change the home and your dream lake home could be on a lake that you have never heard of.

Other influencing important factors to set prior to beginning your search, commute time, property taxes vary town to town, flood zone, size of the lake, water quality and fishing.

 

Winnipesaukee Home, no beach but great views!

Winnipesaukee Home, no beach but great views!

 

For additional information on buying or selling lake homes call 1-888-737-5550 or e-mail at info@nhlakesrealty.com  or visit our websites to view lake homes in New Hampshire at www.nhlakesrealty.com or www.lakeorskirealestate.com. Look for our new website coming out in December.

Contact Carl Sack or Paula Hinckley   #nhlakesrealty