The right time to buy a house is when it’s the right time for you, even if it’s winter – and this still applies when it comes to lakefront homes for sale on Lake George. However, because it’s a lake house, and because it may or may not be a second home for you, additional considerations come into play.
Keep reading to see tips for buying a lakefront home for sale in the winter, including potential advantages to buying in the off season, and what you need to know before you make that offer.
Potential Benefits to Buying a Lake Home in the Winter
Some real estate experts believe winter is in fact the best time to buy a lake house. Some perks you’re likely to enjoy by shopping during the cold weather:
- Lower prices due to lower inventory and less competition
- Homeowners are motivated to sell (or they’d take the property off the market until spring)
- Buyer has more time to shop around and make the right decision
- Buyer will have plenty of time to prepare the property for the upcoming season
On the flip side, the potential downsides are fewer houses on the market to consider and having to rely on photos to get a sense of what the property looks like during the summer.
It is helpful, though, to see how the house is withstanding the winter, because lakefront houses are more exposed to the elements, and are more sensitive to wear and tear.
Know Your Intentions Before You Start Searching
Is this going to be your primary residence, or is it a second home/vacation home? Do you plan on living in it in the winter? Are you aiming to rent it out?
These are questions to ask yourself before you seriously start searching for lakefront homes for sale. If you need the home winterized and it’s not, that is a major investment. What you’re using the house for will dictate the level of upkeep and maintenance costs to plan for.
Generally, unless you are going for a secluded cabin, roughing it in the woods feel, you’re likely going to want to make sure the house is equipped with electricity, a septic system, access to the internet, etc.
What to Look for In Your Ideal Lakefront Home
Lakefront homes are in their own category from non-waterfront properties, with additional elements to keep in mind and questions to ask, such as:
- Are the property taxes high?
- Do you need flood insurance?
- What kind of routine maintenance will you need to prepare for?
- Are there any major upgrades you’ll need to make?
- If there is a dock, is it currently in compliance with any regulatory bodies that oversee docks on the lake, and are you required to have it removed in the winter?
- If there is not a dock, are you permitted to have one built?
- Does the property have a boathouse? If not, and you want to build one, there are restrictions imposed by the Adirondack Park Agency
- Would you want to build upon the home? Expanding on a lakefront property can come with restrictions
- Is there routine trash pickup?
- Is there an HOA?
The Lake Itself: Private/Public Considerations & More
Finally, you need to take into consideration the lake the home is on, and this is all the more important in the winter, when you can’t necessarily see shoreline conditions or get a feel for boating traffic in person.
If the lake is iced over, you’ll need to confirm how deep the water is, and if you’re allowed to swim there.
One of the best ways to gain knowledge about the lake is to talk to some neighbors, hopefully one of whom will be a longtime resident.
You’ll need to do your due diligence to find out what recreational activities are allowed on the lake, where, and when, and how that fits into how much privacy you’re hoping to gain with this house.
Lake George, for example, has four public boat launches, numerous private marinas, chartered boat tours, guided lake cruises, and is otherwise a popular lake that can get busy during the summer. The northern end towards Hague, however, is quieter and sees far less boat traffic.
Look into lake associations and any other organizations involved in managing and maintaining the lake when investigating your lake of choice.
Choose a Real Estate Agent Knowledgeable About Lake Houses
Now more than ever it is important to work with an agent who is experienced with this specific element of real estate.
I live in Bolton Landing, one of many charming waterfront communities on Lake George. My experience buying and selling lakefront and other homes in the southern Adirondack area, and my connections from living and networking here for years, is invaluable to those looking at lakefront homes for sale.
Are you ready to talk about buying a lakefront home? Get in touch today.
Consider waterfront real estate on lakes close to Lake George >>
