Lake Home Tips

If “near the lake” just won’t cut it, consider these helpful tips before purchasing a lake home:

Determine an area.  To start off the buying process, your first plan of action should be determining which city you would be spending the rest of your boating days.  Try creating a list of your top potential cities, and then narrow down the search by looking at the different lakes they have to offer.  For instance, if Maple Grove seems like a right fit, would you prefer Bass Lake or Weaver Lake?  If Plymouth is where you want to start anew, are you going to reside by Medicine Lake or Gleason Lake?  Etc.

Get to know the different lakes within that area.  With so many lakes to choose from, finding the right one for you and your family may be difficult.  Make sure to research each lake in order to compare and contrast.  Then choose a lake that coincides with your income, family situation and personal hobbies. 

Gain a comprehensive understanding of the lake.  Since you’re purchasing a lake home, you’d better get acquainted with your soon-to-be neighbor.  Take into account the different dynamics of the lake in question: 

-Are there nearby amenities such as marinas and restaurants? 

-What are the lake’s rules?  Do they allow jet skis, racing boats? 

-What about fishing regulations? 

-Is my property along deep or shallow waters? 

-If I want to increase my dock size or add an out building, are there any covenants or restrictions preventing this?

Check out different properties on the lake you choose.  Realize property worth depends on several factors such as: full views, deep water, flat lake lots and the location itself.

Find the right price.  Make sure you find a property that fits within your financial constraints and still incorporates your basic wants and needs.  While purchasing the property may seem like your only monetary concern, it is only half of the equation.  Each city and township’s cost of living is distinct.  Sure you may be able to afford purchasing a home on Lake Minnetonka, but can you afford living among that community in ten years’ time?

Know the property inside and out.  Always physically examine the property before you contemplate buying.  Collect as much documentation regarding the property as humanly possible.  Documents such as surveys, set backs, tax records, disclosures and plots are invaluable in helping you realize the full gravity of your purchase.

Each and every lake is inherently unique.  It is important to fully comprehend your purchase decision in order to assess the quality and magnitude of your future life.

 

I believe everyone should walk into a purchase knowing exactly what he or she is getting into.  As a licensed Lake Minnetonka realtor, I am an expert on lake homes and lake property within the market.  I’d love to discuss with you in detail about the process of buying a lake home and all that it entails.  Please give me a call at 651-216-9466 today to take the next step in your life.

 

All the best,

 

Travis Senenfelder

 

BSL Real Estate

440 2nd St.

Excelsior, MN 5331

http://www.buysellleasemn.com/

To preview Lake Minnetonka rental property visit:

http://www.MetroRentalsOnline.com