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Tips On Buying Lake Front Property

Posted by arieardian Selasa, 18 Desember 2012 0 komentar

The NH Lakes Region has attracted people from all over the world for decades. The charm of historic NH, coupled with the beauty of the waters within, is a union that cannot simply be done justice by words alone. Many people decide to buy NH lakefront homes, whether it be their primary home or a second home to enjoy from spring through mid-fall. The decision to make the NH Lakes Region one's vacation home destination, comes usually after experiencing the area first-hand. While contemplating purchasing a home in the NH Lakes Region, it is important to consider a few things. Here are 7 items to consider during the decision making process:
#1 Flood/Hurricane Insurance
The NH Lakes Region is comprised of a number of desirable lakes and ponds. While out there beginning your search, make sure you find out whether or not the property(s) you are interested in are in a flood zone. Flood insurance and hurricane insurance should be considered. For more information on both, the best contact is going to be your insurance representative.
#2 Local Rental Market
There are so many recreational activities in the NH Lakes Region... not just in the spring/summer/fall months, but in the winter months as well. If you are planning to purchase an Colorado Springs distressed properties to vacation in during the summer season, and rent out during the winter, you will want to have a strong understanding of the rental market in the area you are considering. Talk to your Buyer Agent to find out what homes are renting for on that particular body of water, and find out if there is a local property management company that can assist you while you are away.
#3 Restrictive Covenants
Every lake and/or pond has their own restrictions when it comes to what types of activities are allowed. This may vary even depending on what part of the body of water you are on. First, deciding what activities are important to you and/or your family is key. Do you plan to use a motor boat, kayak/canoe, fish, swim, etc? Identify what is important to you, and then work with your Buyer Agent to narrow down which bodies of water will allow you to do the things you want to do. There may also be restrictions as far as what you can do on your property, depending on local building codes and/or association regulations (if the home is part of an association). If there are specific items you would like to plan for, make sure the property you are considering will allow any/all of them.
#4 Road Maintenance
Another thing to consider, if the road is a private road, how is it maintained? This is especially important during the winter months. If you are going to be renting the home in the winter, who will take care of that expense? Assuming you plan a trip or two up to the area to view some of the homes, block off a day to simply drive around some of the neighborhoods you are considering. Understanding the convenience of the location is just as important as the property itself.
#5 Access to Electrical/Septic
One of the things to take into account, is whether or not there is a septic system already in place on the property you are considering. Again, depending on location, there may be just a holding tank. To upgrade to a septic system, you will need town approval. You will also need to ensure you have access to your septic system, in the event you need to repair/replace/upgrade in the future. The same goes for other utilities such as your electrical. Understand the town requirements, and the design/functionality of what is currently in place. You may want to consult with an engineer, and/or septic designer to gain a comprehensive hold on the property in its current condition.
#6 Neighborhood
The best way to gather a perspective on a certain neighborhood and/or location on the water... is to talk to the people that know it best... your potential neighbors. Have lunch at the waterfront bar... scout out the marinas... ask questions as much as you can. It is an exciting time in one's life to make this purchase, and share in that excitement with the locals. You will be surprised at how much you will learn by even one 10 minute conversation with the local landscaper.
#7 NH Shoreline Protection Act
The last, but definitely not least, item to consider... is the NH Shoreline Protection Act. Visit the NH Department of Environmental Services for full details on this Act. Make sure you are aware of the requirements for the NH shoreline. These range from the number of trees that you must keep on your property, to the proper fertilizers to use on your lawn, to the proper drainage in your down-spouts. Take some time to understand the purpose of the Act, and for additional questions, contact a local landscape architect.
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Judul: Tips On Buying Lake Front Property
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