The fact that it is currently a buyers market does not apply to the residential home market only, for there are great values in the lakeshore or recreational property market right now as well. However, whether buying or selling it pays for the consumer to be well informed. Lakeshore Dreams.com, the premier Internet resource for lakeshore and recreational properties in
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Is lakeshore ownership right for you? Lakeshore values continue to rise at levels above inflation, making it a good long-term investment but how you structure that investment will depend upon other considerations such as your season of life, family situation, children’s interests, spousal involvement and amount of discretionary income. Some preliminary questions need to be asked up front. What are you trying to accomplish through this purchase? Is this a long-term or short-term investment strategy? What is the maximum amount that you can spend including purchase, taxes, maintenance, improvements, and the extras that come with owning a lakeshore property? How will it reinforce or detract from the other things that you want to accomplish in life? An experienced financial planner or consultant can be of tremendous help in sorting through short and long term goals.
Should we purchase an existing property, design and build our dream home, consider fractional ownership or purchase a time share with more flexibility in destinations? While most people would like to have the option of designing a lake home or cabin to meet their exact needs and preferences, it isn’t always the best choice given the additional time, expense and headaches involved. Begin by making a list of features that you would desire to see in a property and then determine whether they are essential, important or merely preferences. With a little patience and determination you may find that you can fulfill most of your desires by purchasing an existing property and spare yourself needless expense and hassles. Be sure to consider all your options such as man made lakes, lakefront communities and shared or fractional ownership.
How to make the system work for you, finding the right property and/or agent? Once you have completed your homework (clarification of values, goals, purpose for purchase) the next step is to develop a plan for finding the right property. You will want to consider location (mileage and travel time from home during normal drive time), type of lake (natural development, recreational development or general development), property features and proximity to supporting amenities such as fishing, golf, restaurants, entertainment, shopping, walking trails or medical care. While one can wade through listings on the Internet your chance for finding the ideal property is greatly enhanced by working with a Certified Lakeshore Specialist who services your area of interest.
If you are considering purchasing or selling lakeshore property the Lakeshore Summit will be an important educational and networking event. The content will be focused, relevant and presented by panels of experts with years of lakeshore industry experience. There will also be ample time to connect with panel members, sponsors and key note speakers before the event and during coffee and lunch breaks. Your investment in this one day event could potentially save you thousands of dollars and enable you to realize your lakeshore dream.
