A lake house is the pinnacle of summer fun, and there is no better place to own one than in Minnesota. Our state’s abundance of pristine lakes makes waterfront property surprisingly affordable – provided you’re not buying a house on the shore of Lake Calhoun or Lake of the Isles, that is.
If you’re wise about your search for waterfront property in Minnesota, then you may be able to close for a much lower price than you had let yourself hope for. Here are just a few of the ways you can save money on your new lake house!
Hire an Agent Who Specializes in Waterfront Property
You wouldn’t take a Ferrari 488 to a Jiffy Lube. Likewise, you shouldn’t take your search for lakeside property to a realtor who typically deals in condos and townhomes. A realtor who specializes in waterfront property is aware of inventory which may elude the more generalized agent.
Prepare to Act Well Ahead of Time
Waterfront property is always in high demand. You’re likely to encounter stiff competition when you submit your offer, but you can improve your chances by booking showings at properties as soon as they hit the market – that will help you submit the very first bid, which may be especially appealing to a motivated buyer.
Pay Close Attention to the Surrounding Property
Lake houses are things of great beauty. Just be careful not to become so smitten by the house itself that you overlook its surroundings! Not all lakes are created equal when it comes to the quality of the swimming, fishing, boating and waterfowl hunting they offer. In other words, if you have specific plans as to how you’re going to enjoy your waterfront property, then the water itself demands equal attention.
But here’s the neat thing: If you only intend to enjoy your waterfront property from the shoreline, then the quality of the lake becomes far less important. In other words, lakes that offer less value to swimmers, anglers and hunters tend to fetch lower prices on the market!
Embrace the Cabin
We would all like to own a lakeside home that would make Scrooge McDuck jealous. But if you would only use your waterfront property as an occasional retreat and not as a primary residence, then a cabin will prove far more affordable in the grand scheme of things. Take the cabin featured in the movie Fargo, for example. Renovate its interior and remove the wood-chipper, and it would become quite the cozy little refuge!
The Boll Realty team has helped people save money on their dream waterfront properties since 1975. With numerous lakefronts throughout Otter Tail County in Minnesota, we offer the joy of lake living no matter your budget. We welcome you to reach out to us today to begin your search for your new lake house, cabin, hunting land or farmland! Property to List? No hidden closing costs or office charges, ever. Call Boll Realty today for an absolutely free Detailed Market Analysis of your property! Open 7 days a week. Let us help you make your home and property dreams come true!