A Guide to Finding the Right Lakefront Property

Whether you grew up on the lake or it’s your first time considering buying lakefront property, it’s always a good idea to consider some helpful tips when searching for and purchasing Lake Wallenpaupack lakefront real estate. When you’re ready to make your first lakefront property purchase, follow this advice for a great buying experience. 

Choose the Right Area

Lake properties aren’t all the same. Some properties are on parts of the lake that see a lot of activity while other areas have less boat traffic and are serene. As you begin the process of searching for lakefront real estate in Lake Wallenpaupack, PA, ask yourself what your ultimate living goals are. Are you looking for property where there’s a dock and plenty of room to put your boat? Or, is the goal to have property overlooking the lake and enjoy quiet mornings with coffee on the deck? Knowing what you want out of your lake property purchase will help you find the right area to suit your needs.

Work with a Local Realtor

As mentioned previously, all lake properties are different. Even if you’ve owned lake property at one time or another, each community has its own unique qualities. That’s why it’s important to work with a Realtor who has experience with lakefront real estate. Working closely with a real estate professional helps you find homes faster. These individuals track the real estate in the area closely. They know what homes are currently available for sale and also have insight into properties coming on the market in the near future. Having an insider on your side is invaluable when it comes to getting the property you want in the desired location at the right price. Go ahead and research area homes online, but you should let a real estate professional show you around and lead the buying process.

Learn More About Financing

For some buyers, lakefront property is their primary residence. However, many people purchase this type of property as vacation homes, rentals, or second residences. If you’re making a home purchase that is anything other than a primary residence purchase, make certain your financing is in order. Not every mortgage lender offers loans for second residences or rental purchases.

In some cases, your lender may allow the second home purchase but will require a larger down payment. If this is the case and you don’t have the cash up-front for the down payment, inquire about using the equity in your primary residence. Some lenders allow this option and it makes it easier for people to make their dream real estate purchase.

Know the Rules

Lake communities tend to be exclusive communities governed by strict requirements. For example, are you planning on buying a lot near the lake and placing your RV on the site while your home is being built? This may or may not be acceptable. Also, many lake communities require homes to be a certain square footage and boast certain styles. Before you make a property purchase, it’s a good idea to look over the community’s bylaws and homeowner requirements. This is another reason why it’s always advisable to work with a local Realtor who is familiar with the community’s requirements. 

When you’re ready to start searching for your dream home in Lake Wallenpaupack, contact Pete Helms at Davis R. Chant Realtors to help you with your real estate transaction. (570) 226-4518