Writen by Mary Sauer
Many people dream of one day owning a beautiful property on a picturesque lake that overlooks the water and gives quick access to the shore. But owning a lakefront property isn’t simply a luxury—there are financial and personal benefits to making this dream a reality. Here are the top ten reasons why you should own a lakefront property.
- LAKEFRONT PROPERTIES ARE ONE OF A KIND. There are so many factors that play into finding the perfect lakefront property, including design, location, and size. Because of this, most lakefront properties are one of a kind, offering the owner a unique place to live. There is another advantage to owning a one of a kind, lakefront property—if the time comes to sell the property, you will likely find it is easy to sell, largely because it offers a view and location no other property can offer.
- LAKEFRONT PROPERTIES MAINTAIN THEIR VALUE. Even in slower markets, lakefront properties are typically worth twice as much as comprobably single family homes that are not located on a lakefront. Since properties located along a lake are not readily available, these properties often maintain their value, and have increased in value by 116 percent since the year 1997.
- SPEND MORE TIME RELAXING. Living without stress is almost unheard of. Most are managing careers and families, and barely finding time to invest in close friendships and hobbies. When you own a lakefront property, you have to opportunity to take time away from the stressors of your everyday life. You can spend more time relaxing, and when the time comes to return to work and everyday life, you will have the energy you need to manage everything you have on your plate.
- SPEND MORE TIME TOGETHER AS A FAMILY. There are so many distractions that keep us from spending quality time with the people we love. A lakefront property gives families the chance to spend time together, away from the distractions of everyday life—something that’s extremely important to us at Modernize.
- LAKEFRONT PROPERTIES ARE IN HIGH DEMAND. Land located on a lakefront that is available to be developed into homes is very hard to come by. Because of this, lakefront properties are scarce. The low availability of lakefront properties as well as the high value placed on beautiful homes with serene and calming views, increase the demand for home located on a lake. This makes investing in a lakefront property a smart choice, since they typically sell very quickly.
- SPEND MORE TIME EXERCISING. How often do we avoid exercise because it is too inconvenient to make a trip to the gym or because we are tired of the treadmill? Owners of lakefront properties have easy access to the lake, making it simple and convenient to get more exercise. Whether you love swimming, or prefer spending time walking around the beautiful scenery, we are sure you will find it impossible to resist getting plenty of exercise when you are relaxing in your lakefront home.
- SPEND MORE TIME OUTDOORS. For many, our jobs keep us indoors for the large majority of the day. With a lakefront property, you can escape outdoors anytime, enjoying the beautiful surroundings, soaking up plenty of vitamin D, and getting the fresh air we all crave.
- DEDUCT MORTGAGE INTEREST AND PROPERTY TAXES. Did you know a second home can greatly reduce the amount of taxes you pay each year? As long as you are not renting out your lakefront property, you can deduct certain expenses when you file your yearly tax return. By deducting mortgage interest and property taxes, you could get a larger tax return or avoid owing extra money at the end of the year.
- EARN EXTRA INCOME BY RENTING OUT YOUR PROPERTY. There is no reason to leave your beautiful lakefront property sitting empty when you aren’t there. Anytime you aren’t using your lakefront property, you can rent it out to vacationers. This can create extra income for your family and offset the expenses associated with owning a second home.
- HOST GET-TOGETHERS FOR FRIENDS AND FAMILIES. When you own a lakefront property, you will quickly find your home is the new favorite location for reunions, birthday parties, and weekend getaways. A second home located on the lake is the perfect location for hosting close family and friends for an evening of food and drinks, or even an entire weekend away.