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Of all the wonderful natural resources we have in Wisconsin, the beautiful lakes we are blessed with is one of the most precious. Whether spending time on Lake Michigan or Winnebago, or a tiny one-acre lake in the north woods, we can all agree that enjoying the water is an important part of the Wisconsin lifestyle.
Our neighbors to the west like to brag about their 10,000 lakes. Most of them may be surprised to hear about our over 15,000 lakes! The fact that so many people from other states choose to own lakefront property here in Wisconsin is proof of our natural bounty!
Of course buying a home with water frontage is just like buying other properties in many ways, but there are certainly a fair amount of additional considerations you should work into your decision making process. In this article, we’ll cover some of these topics, as well as provide some resources you may find helpful if considering a property on one of our beautiful lakes!
The Lake
Lakes in our state come in all shapes and sizes, so homebuyers should really think about how they want to use the lake, and what kind of lifestyle they would like their property to offer. Here are some things to think about when picking a lake to live on:
- Do you plan on living at the property full-time, or only seasonally or just on weekends? When choosing a full-time home, you’ll want to consider the distance to resources like grocery stores, restaurants, hardware stores, etc. Some people don’t mind being remote (or outright prefer it) but it’s worth noting how far you’ll have to drive to pick up groceries or find that tool you need to fix the shed.
- Do you like to fish? If so, you’ll want to know what kind of fish are in the lake, what the regulations are, and other details to help you pick the right spot! The Wisconsin DNR has a good website for anglers that provides a very wide variety of information to help you enjoy this classic Wisconsin pass time! https://dnr.wisconsin.gov/topic/Fishing
- Do you like boating? There are plenty of things to take into account, like speed limits (some lakes are non-motorized traffic only), depth of the water, location of boat launches (if any), location of boat launches (if any), and any regulations about the installation of piers and boatlifts. Again, the DNR has a website to provide you with all the state regulations, and great information about individual lakes. https://dnr.wisconsin.gov/topic/Boat
- Do you like swimming? Two of the most important things for you will be water quality and the bottom of the lake just off your shoreline. Of course, some lakes have beaches, as well, and if that’s on your wish-list, you’ll want to check the Wisconsin Beach List: https://dnr.wisconsin.gov/topic/Beaches/BeachList.html
- Does a lake have any special problems? Some lakes have issues like invasive species, algae blooms, low water, and other problems that you may want to look into before deciding to become an owner on the lake. To check out aquatic invasive species populations, visit: https://dnr.wi.gov/lakes/invasives/AISByWaterbody.aspx
All the above resources can provide a treasure trove of information, but nothing beats first-hand knowledge. Once you’ve found a lake that you’re considering, it’s a good idea to find a local tavern or restaurant, sit at the bar for a drink, and just start talking to people. You’d be amazed at the level of information you’ll get once the locals have a beer or two! You may even learn about properties that are not yet listed which may be coming to the market!
The Layout of the Property
One thing buyers really should consider is the landscaping and flow of the lot. Many lakefront properties are quite steep because of the geography of the area. As always, telling your Realtor your preferences saves a lot of time and energy! If you need a flat lot because you like to play bocce ball with the grandkids, a steep lot with 50 steps to the shore won’t do you much good. Other examples include:
- What direction does the house face? Sunsets or sunrises are a big part of life on the lake, and understanding the home’s orientation can be very important for some.
- What kind of view do you have from the house? Whether it be trees, other buildings, or something else, anything that impedes your view to the water should be carefully considered.
- What kind of parking is available? So many of us with lakefront property entertain family and friends fairly regularly at our homes. It may be important for you to know where you can put an extra 3 cars (or 10), depending on how many people you plan to accommodate.
- How much work will it be to maintain this property? Trees, plants, grass, snow removal, leaves in the fall… all these things can create lots of work in ANY house. The last thing some people want is a SECOND property to double the work, so if you’re buying a vacation home, take these things seriously. If you love working outside on the yard, however, be on the lookout for homes with potential to make the property shine with your personality and effort!
The Condition of the Shoreline
It’s surprising how many homeowners with water frontage have neglected the very thing that drew them to the property in the first place. Erosion, weeds, wildlife, and other factors can really impact the beauty and accessibility of your shoreline. If you look at a property that seems to need a significant upgrade to the shoreline, it’s important to consider:
- What companies in the area actually perform this type of work? If you’re in a remote area, you may have to search several towns over to find a company willing and able to help refresh your shoreline.
- How much it costs. Depending upon the level of finishing you request and the size of the project, re-doing a shoreline can cost from a few thousand dollars to may tens of thousands. Some sellers don’t take this seriously and assume that buyers don’t care about the condition of the shoreline. They price their properties without taking this into account, and sometimes it works out for them and others it comes back to bite them. Only you can determine your comfort level with the current state and possible expenses.
- What are the regulations involved? Most reputable companies who will perform this type of work for you will have connections with the DNR and the local authorities, which will help ensure that your project is done in accordance with any applicable regulations. In some cases, you may even be entitled to extend the property out a few feet from the existing shoreline to return to pre-erosion position, and a good contractor should be able to do the research needed to determine your opportunity in this regard.
The Size and Condition of the Home
When buying a lake property, you will want to consider the intended use before deciding on a house. Since lake properties can range from a fishing shack to a multi-million dollar mansion, it’s clear that the biggest factor for choosing the right place is between your ears. Even a billionaire may prefer a secluded cabin in the woods on a tiny lake to get away from it all, so just give careful consideration to your ideal setting for whatever activities you hope to do at your new lake home.
Many lake properties do not have basements, so take careful note if that’s something that’s important to you. If a home does have a basement, grading and proximity to the water are critical points to pay attention to when choosing a home, as well.
Properties with boathouses are great, but the boathouse is often the most neglected part of the property, so inspect the structure carefully. Keep in mind that some areas don’t allow building new structures close to the water, and the existing structure may be grandfathered in. Due diligence will help prevent unwanted surprises.
Of course, some of the homes that are on lake frontage will lie within a flood plain. If the property is listed on the MLS, this information should be clearly disclosed, but it’s always a good idea to double check and be sure before writing an offer. Homes on a flood plain will usually be subject to special flood insurance, which is another consideration.
Because you may be entertaining people more at your lake home than a normal residence, the guest rooms may have more significance, so size, layout, and condition may be key. Homes with an open concept tend to be more communal and therefore more suitable for gathering with friends and family.
Conclusion
Every home has its own personality, and lake homes even more so. Considering these main points when looking for just the right property will help you make a great decision, and avoid common pitfalls down the road.
Remember one final point, vacation homes are usually full of beautiful memories, family history, and emotional value. Sellers will often have mixed emotions about selling their lakefront property, which may have been in the family for generations. Being respectful, empathetic, and grateful in your tone when communicating with them will go a long way. It’s always ok to negotiate tough, that’s part of doing business, but tone is one of the subtle things many people forget to embrace. Hopefully if you are able to negotiate the right price and terms, you and your family can look forward to many years of memories of your own!
Do you have questions about buying lake property? We’d love to hear from you!
