There is a certain appeal to lakeside living. It not only blesses a homeowner with magnificent vistas just outside their windows but it also provides health and lifestyle benefits and the promise of long-term profits.
Along with all the perks of lakeside living comes some caveats that the potential homebuyer should know about. Knowing about these allows you to weigh your options before taking the plunge.
Pros
Good Investment
Lake Texoma real estate can be a wise investment as there is a huge demand for waterfront homes. These abodes can become excellent vacation homes for the family or can be turned into income-generating vacation rentals – thus, the high demand.
If you’re looking at Lake Texoma homes near Kingston, OK, consider the location’s accessibility and sustainability, as well as risk factors like flooding and climate change. Also, make sure to consult with a local waterfront real estate expert for good advice.
All things are taken into consideration, a lakeside home can be a handsome addition to your asset portfolio and – whether you consider renting it out or not – will have a strong long-term earning potential.
The Lakefront Lifestyle
Living by the lake can feel like a permanent vacation – with fresh air, beautiful waterfront views, and easy access to the water for boating, jet skiing, and other water-based activities. You can take a break from the city life when you live here. This also means less air and noise pollution and a stress-free environment.
A well-maintained shoreline also sets the stage for a variety of outdoor activities, including active exercise and sports, relaxing on a lounge chair, or having a backyard barbecue with family.
For the health benefits of lakefront living, click here.
Cons
More Complex Maintenance
Preparation and research are the keys to making the right decisions on buying real estate – more so when the property you intend to buy is found by a body of water. You need to be ready for both the good and not-so-good things that come with buying a waterfront home. One of these is spending much more on maintenance expenses for this type of real estate, compared to those located farther inland.
The increased moisture and humidity here may give you bug and pest problems, mold, and mildew. You will need to address these problems immediately before your house gets bogged down by infestations or structural decay.
Give some extra curb appeal by trimming bushes in your outdoor property and keeping it pristine clean. Remember, though, that this task should be done more often than usual to keep the area in tip-top condition. The dock also needs TLC, especially if you plan to use your property as a short-term vacation rental.
Insurance, Special Requirements, and Restrictions
Lakefront homes have some special requirements and limitations like flood insurance, homeowners’ association dues, and certain restrictions on the use of the land and the surrounding water. Insurance for waterfront properties is usually higher due to the increased exposure to the elements and the higher risk of damage.
Moreover, the remote location of lakefront homes could entail you to travel farther and spend more on things like transportation, utilities, and some urban conveniences.
Once again, all these issues will be but minor inconveniences should you be passionate and prepared enough for the nuances of owning a lakefront home.
Interested in Lake Texoma homes for sale? We at Servant’s Heart Realty are ready to assist you. Call us at 580.246.0010 or send an email to realtor(at)russ-parker(dotted)com to get started.