Having four well-known lakes in the area, Southwest Virginia and Northeast Tennessee is a popular destination for homebuyers searching for lakefront property. Finding the perfect lakefront home that fits your needs and lifestyle can be difficult, but these tips will help make your dream of living on the lake in the Highlands region a reality.
Consider All Associated Costs
Besides being prepared for the generally more expensive price tag that comes with waterfront property, there are other costs to keep in mind, including:
- Insurance: Even if flood insurance is not a requirement, your homeowner’s insurance cost will likely be higher than average.
- Additional Maintenance: Having a waterfront home can be a lot of fun. However, it often requires additional maintenance costs that may not be necessary with homes not located on the water, especially if there is a private dock.
- HOA Fees: If there is a homeowners association for the community, ask about all required fees and its by-laws. If there are any restrictions, it is important to know about them upfront.
- Lake Toys: One of the main reasons for wanting to live on the lake is the convenience of fun lake activities. But it is important to remember boating and jet skiing are not cheap activities.
Work with a Knowledgeable REALTOR
Working with an experienced agent who knows the local market is one of the first steps towards securing your lakefront property. They will know what to expect when purchasing a lake property and guide you through the process. A real estate professional with experience in buying and selling lakefront property is ideal. They will know the common questions to ask about the properties on your short-list and help you make a well-informed decision before putting in an offer.
Inspect the Property Carefully
A home inspection is always an important part of the home buying process. However, it is even more crucial when considering a waterfront property. A home near the water usually endures more wear and tear than those that aren’t. A professional home inspector will identify any potential issues, such as unexpected water intrusion or a mold issue.
Whether you want to enjoy a home with a lake view on South Holston, Boone, Fort Patrick Henry, or Watauga, our agents can help you find your lakefront property in Southwest Virginia or Northeast Tennessee. Once you close on your lake house, you can kick back and enjoy peaceful waterfront living with easy access to lake time fun.Contact a Highlands Agent Now