Buying Lakefront Real Estate Homes: Mistakes to Avoid

Real estate in Lake Wallenpaupack, PA, a lakefront neighborhood, is a great location to live in. During the buying process, you can make decisions or ignore options that may lead to problems with the house or the property the house sits on in the future. Here are some tips on how to avoid common mistakes when you buy real estate on lakefront property.

Consider the Location

The main reason you chose a home in a waterfront neighborhood is the location. Lake Wallenpaupack real estate with lakefront access offers some of the most striking views. Still, there are some important aspects of the location you’ll want to be aware of before making a final decision.

You need to understand which way your property faces. This will help you figure out how much sun and shade is on your property, and which sides will get more shade or sun throughout the day. You’ll also want to understand which sides are the most susceptible to wear and tear from the elements.

Make Sure the Structure Is Weatherproof

The weather can wreak havoc on a home over time. In Lake Wallenpaupack, PA, and surrounding areas, the weather goes from warm and wet in summer to freezing temps in winter, with partly cloudy days year round, strong winds, heavy rain, and light snowfall. This creates a harsher climate that can cause wear and tear on your house over a much shorter period of time.

This is why you need to make sure the Lake Wallenpaupack real estate you buy has the right structural support and weather protections to withstand these tough conditions. Stainless steel components (grill parts, gate hardware, nails on siding, etc.), storm shutters, and a raised foundation will help protect your waterfront property.

Get the Right Insurance

Lakefront property can be more susceptible to flooding. Even though most real estate properties in waterfront neighborhoods are built to withstand flood waters, purchasing the right kind of flood insurance is still an extremely important step. Flood insurance for lakefront homes tend to be more expensive, and may have specific time requirements.

You should know whether (and how much) the water level will rise during different seasons, if the property requires flood mitigation, and what premiums are available. This information will help you choose an insurance policy that will protect your home during and after a flood.

Talk to the Neighbors

While you are perusing Lake Wallenpaupack homes for sale, consider talking to people in the neighborhood. People who have lived in the area for a long time will likely know what major repairs have been made, if any, to the house you are interested in. Neighbors can also tell you if the house is connected to the local Homeowners Association, regulations regarding adding or removing natural and manmade structures on and around your property, and can tell you if swimming and other water activities are permitted in the lake. Talking to the neighbors will help you forge strong friendships with locals, which can make living in your new lakefront home a more pleasant experience.

Davis R. Chant Realtors has more tips on how to avoid making major mistakes when buying lakefront property. Contact us through email at phelms@chantre.com or call us at 570-493-0741.