10 Reasons to Invest in a Lake House Property for Your Future
Sales in lakefront homes around gated communities rose close to 72% from 2019 to 2020. You may think that boom would have declined during the pandemic, but instead, buyers from all over the country began to see that even a lake house on a small, independent lake could result in a value gain of $100,000.
These facts make purchasing a lake property one of the most assured investments a buyer can make in any given market. There is a massive appeal to owning a slice of heaven with waterway access that allows everything from a family BBQ on the fourth of July, where fireworks are reflected on the flat surface, to a custom fishing spot mere feet from your front door.
If you’re not convinced owning a waterfront home on a lake is right for you, here are ten reasons this is the perfect time to buy.
#1 – Scenic Beauty Means Personal Enjoyment
There is a natural phenomenon known to health professionals that is the reason so many people retire to locations near a lake. It is called “blue mind” and results from living near water, especially with a beach, because it provides a soothing sensory experience.
When you buy a lake house, you are physically activating your parasympathetic nervous system. This slows down the mind and allows you to reach new levels of relaxation. It is scientifically proven that cracking out an Adirondack chair while holding a cup of coffee as the geese fly by and the sun sets on a lake results in a more relaxing life.
#2 – Appreciating Asset
Waterfront homes, like a chateau or cottage on a lake, are more valuable than the average single-family home. This is not an argument. When you compare two houses with the same layout, features, and assets, the one on the local lake will be worth more.
When you live next to a lake, you are immediately adding value to the property. Buyers see kids running on shores, skipping rocks, and fishing for any type of creature. That is much more appealing than a classic cape in the middle of suburbia, where the yards are so close together that you can see what your neighbor is cooking for dinner.
#3 – Rental Income Opportunities
People who shop around for an Airbnb or short-term rental want amenities. They are looking for game rooms, pools, hot tubs, and enjoyable outdoor settings that are picturesque. What ranks high on that list? Having a lakefront property.
The same is true for long-term rentals. Over 83% of the US population lives in urban areas like major cities. The concept of getting fresh air with a relaxing lake is highly attractive. They can escape the noise, smog, and endless traffic to a space that looks and feels untouched.
#4 – Tax Advantages
If you live in your lake house 365 days a year, you will pay more in property taxes. Although, there is probably no better confirmation of a value-added property than rising taxes to maintain the asset.
However, if you rent your lake house for more than 15 days each year, you can classify it as a rental property. Any expenses you use, like repairs, insurance, commissions, cleaning, and maintenance for that property, may become tax deductible.
#5 – Limited Supply and High Demand
With so many advantages already listed, it is pretty clear that lake houses are a solid investment. That is not logic lost on the general population. There are only so many lakes around the country, making for a limited supply of properties.
When people search for a new home, they select amenities beyond just the number of bedrooms and baths. They want to see what makes the space unique, and you can bet that means it has lakefront access.
#6 – Year-Round Enjoyment and Versatility
A lake property doesn’t just have to be a summer or springtime activity. There are many opportunities, from water sports during the heat of summer to ice skating in winter. As long as your property is well insulated, you can get way more versatility than you may imagine.
Then, there is the scenic value of watching the seasons change. A lake house in a state like Minnesota or Maine could flip the script on how your family celebrates Christmas or Memorial Day because now there is a beautiful and accessible lake available without having to sludge through endless tourists.
#7 – Retirement Potential
Lake homes are beautiful places to retire. This is a peaceful life with usually friendly communities of fellow lake dwellers. Best of all, now you have guaranteed entertainment for the grandkids.
Your home will be quiet during the weekdays, allowing you all the relaxation to catch up on reading or perfect your gardening skills. However, on the weekend, you’ll become the “go-to” hangout for any friends and family looking to reconnect with nature and visit Grandma and Grandpa.
#8 – Community and Lifestyle
While plenty of large lakes around the country have massive shopping scenes, culinary delights, and cultural venues, those smaller lakes are the way to go. Visit any small lake community, and you’ll find a coffee shop, pub, and mom-and-pop grocers full of community involvement.
These tight-knit areas make the best settings for building a new social calendar. Everything from being a part of the annual tree lighting ceremony on the docks to helping your neighbor when they get stuck in the reeds creates opportunities for meeting and cultivating relationships.
#9 – Environmental and Health Benefits
A fantastic review of over 952 studies looked closely at nature and its effects on human health. Around 92% of these peer-reviewed studies document that health improvements occur across all areas of an adult engaged with natural surroundings regularly.
Investing in a lake house gives your mental, physical, and emotional well-being an infusion of positive results. Life slows down, and things become more active as you go for a walk, enjoy a leisurely swim, row a boat, or simply engage in a friendly game of tennis at the local park.
#10 – Leave a Legacy
The final reason to buy a lake property this year is straightforward – you get to leave behind a legacy. The generations you’ve spent years providing for suddenly have a place where incredible memories of big catches, first kisses, starry nights, and Mimi’s BBQ become the foundations for stories that get passed on to even younger generations.
That bench you made in the garden overlooking the lake will soon be the place where grandma and grandpa hold hands, discussing the day’s news and laughing together, setting the bar for every one of your children’s children whenever they picture the goal of happiness.
There are many options when you purchase a new home. You are looking for a project that may have minor fixes or fun renovations but ensures your family is safe, protected, and comfortable.
A lake house is one of the best options available. It will give you a new perspective and an excellent place for friends and family to congregate as the years go by. Now is the best time to consider adding this appreciating asset to your portfolio. Whether a rental or primary residence, you cannot go wrong with a lake property.