Pro/Con of Living on a Lake (real estate, condo)

[wolfey]

Contemplating purchasing a lakefront house in southern Indiana. The lake would be large enough to kayak & boat.

What are the pros & cons?

Thanks.

[Meemur]

In general, check into who has access to the lake and how well it's patrolled.

You don't want to live on a lake that has practically unlimited access to boaters from all over. That can be a nightmare on holidays, plus the drunks can ruin your own boating if it gets crowded and there's no one patrolling.

Limited access is best.

Also check into the health of the lake. How are water levels maintained? Is there a dam? Is it steam-fed? Have there been problems with algae blooms? Does it need to be dredged? Who pays for that?

Is there any sort of neighbor or lake association? Are they water nazis or do they do useful things? If they exist, try to attend several meetings.

Living on a lake is a mixed blessing. On a peaceful, healthy lake with limited access and limited political problems, it can be a joy. But like anywhere else, it doesn't take much to ruin a nice place to live with the wrong condo development, idiot lake association officers over-stepping their power, or the state DNR making a money grab.

[MacInTx]

You'll want to know whether it's a constant level lake. If it's not, it could be dry one year and flooded the next.


I'm on a non-constant-level lake. We endured several years recently with a dry lake bed. Then came the floods. Over the past two weeks, the water level has risen 40 feet. Our cabin is 80 feet above the historic average water level, yet is barely above the X flood plain.

[wolfey]

Great info. Thanks

[Meemur]

One other consideration, especially if you have an inexperienced realtor: be sure you and/or a real estate lawyer looks over the deed for easements BEFORE you buy the property. Be sure that you understand any limitations on the use of the property. Also educate yourself on any county or state planned improvements.

Not to go too far into my personal story, but I had to sell the family cottage on a nice lake I inherited because the county put in a sewer and mandated each homeowner had to tie into it within a 3-year period, which would've cost me $18,000, almost as much as that little cottage was worth! I and several other landowners protested, but we all ended up selling. There wasn't the money to fight them in court (and they knew it).

[wolfey]

More great info. Thanks!