Guide to Buying Lakefront Property in Texas
Lakefront property can be a large gamble to prospective buyers. While important, a beautiful view will be of no use on property covered in feet of water as a result of being in the floodplain. This and other useful tips can help new buyers know which qualities to watch out for and also what constitutes property value.
Make sure the company has a good reputation and/or the community is already developed
Buying early in a development before the roads, water, electricity, or amenities are built can be risky. Great companies can go bankrupt in hard times. Better insure your investment and buy lakefront property in Texas like The Peninsulas that is already developed.
Buy land that isn't in the flood plain
A homesite can look great until you realize that your once acre lot only has 1/10th of an acre to build on because of flooding. If you choose to sell your homesite before building then you will have a better chance of a quick sale if your property has more options for build space.
Your homesite should be easy to build on
Have your builder come out and look at your homesite before closing. A sloped property provides for incredible views and unique house designs, but can also be very expensive. Make sure to check and see exactly how great of a deal the property is after the dirt work is finished.
Don't buy larger than your stay
Having a major recreational property can be great. But if all an owner's plan is for it to be a weekend home then they must remember how much work a larger home can be. Unfortunately a dream getaway can quickly turn into a weekend job. Lakefront property in texas can range from .75 acres to 10 acres to fit anybody's size needs.
Make sure a clear view of the lake is protected
In early development a lakefront community may seem to have the ideal view. However, once more houses are built within close proximity that million dollar view can quickly depreciate. Pick a waterfront either on the lake or with a protected view. Communities such as The Peninsulas have numerous parks and green spaces that will never be developed to ensure owners a protected view forever.
Prospective buyer's should avoid communities that have the potential to become overcrowded
For instance when surrounded by over 100 homes that share a few acres of waterfront, the ambiance of a natural environment is lost. Moreover water activities become increasingly more dangerous due to increased traffic in the water. A Texas lakefront community like The Peninsulas, home-sites are laid out in a strategic design. As a result most owners do not have houses across the street. They also have restrictions to keep the community as natural as possible to ensure wildlife will stick around for years to come.
Research information on lake fluctuations
Many lakes in Texas supply water for cities in the area and can fluctuate over 10ft. per year on average. Meaning a homeowner's boat could be dry docked more than half the year unless their dock is extended into over 10ft. of water. Lake Bob Sandlin in Texas only fluctuates an average of 1-3ft. per year, which is great for The Peninsulas' homeowners.
Ensure that purchasing grants ownership of the entire property
Most people do not realize that most lakes in Texas either don't allow owners to build a boat dock into the lake or the land is lease-back property. With lease-back property the buyer will never actually own the property all the way to the water. The Peninsulas at Lake Bob Sandlin is different than this norm in the fact that homeowners own ALL of their property including their shore, and are allowed to build boat docks into the lake.