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Did you know that the sale price of a home in the Dallas-Arlington-Fort Worth MSA has increased over 86% in the last 6 years, while the average price of a waterfront home in the United States has decreased by 8% during the same period? The appreciation of waterfront homes in Granbury has substantially exceeded the national average!
If you’re interested in purchasing a waterfront home in Granbury, Texas, you can purchase it for less. Although should you? After all, there are many factors to consider before purchasing a lake house.
So we formed a comprehensive guide that goes over all you need to know. From the advantages to even the drawbacks, you can decide if purchasing a waterfront home is right for you.
Now, are you ready to get started? Here’s an in-depth look at the pros and cons of waterfront properties:
Benefits of Purchasing a Lake House
Purchasing a lake house comes with many perks, but what exactly are they? Below are all the advantages you need to know.
Generally a Good Investment
Purchasing a lake house is a big undertaking, but boy, oh boy, does it pay off. You see, there are numerous ways to make money off of your home. The easiest way, according to Granbury realtors, is to spruce it up and make it into a family vacation home. That way, you can list it on rental sites like Airbnb or Zillow. You’ll get a ton of bookings for the summertime and make a profit doing so.
If you have a basement, you could even convert it into an apartment and rent it out. You’ll earn a decent profit, especially because of the location and all of the perks your home has.
However, keep in mind, if the lake house is a bit run down, make sure to redecorate. Purchase new electronics such as new TVs, smart security, and kitchen appliances. You can even purchase new water sport activities like jet skis, a kayak, or professional fishing rods to set your home apart from other listings.
You’re Always on Vacation
Vacations are an amazing period of recreation, but sadly they always come to an end. What if you could always be on vacation? Well, if you purchase a lake house, you might as well be.
With stunning views of the lake and endless water activities, living at a lake house can easily turn into a vacation. After all, you can experience perks like boating, fishing, riding jet skis, bird watching, and all of which you can do in your backyard. How cool is that?
Reduce Stress Levels
Now, this benefit may just surprise you! By being surrounded by nature, your stress levels, both physically and psychologically, will decrease. So if you have a stressful job, like being a police officer, nurse, or 911 operator, purchasing a lake house is a great way to decompress and unwind.
Not to mention, if you have anxiety or depression, you’ll feel more at ease being so close to nature. All you have to do is listen to the sound of the lake and the animals around you, and you’ll feel at peace.
Disadvantages of Buying a Waterfront Property
Now, with all of those advantages, you may be asking yourself, why don’t more people buy waterfront homes? Sadly, not everyone is equipped to handle such a physical and financial commitment. It not only takes a lot of money but time and effort to make a lakehouse stand the test of time.
So before you jump into buying a lake house here are the biggest cons you need to know.
Wear and Tear Costs
Waterfront properties are no stranger to wear and tear. After all, when you live so close to the water, there’s no blocking your home from the elements. Whether it be humidity, natural disasters, or something as simple as insects, there’s always going to be something that needs to be fixed or be maintained.
With that comes an expense; if you’re proficient enough, you can do a little DIY project to save some money. However, if you’re not confident in your abilities, you may break it more. So make sure you factor in the overall cost of wear and tear maintenance when you’re thinking of purchasing a waterfront home.
As any realtor in Granbury TX, will tell you this is where purchasing a waterfront property comes at a disadvantage. Due to the proximity to the lake, your house will need to have flood insurance. However, because the risk of injury and possible damage to your home is a lot higher, your insurance rates will skyrocket.
Depending on where you live, local laws may dictate the type of flood insurance you have to purchase. Whatever it may be, understand that it will be expensive, and in order to purchase a waterfront property, it’s an expense that needs to be maintained.
If you’re a person who values their privacy, buying a waterfront property likely isn’t for you. After all, as Granbury realtors can attest, the state or federal government typically owns the lake, making it public land. So there will be people not only from your neighborhood but other neighborhoods as well that will want access to the water.
You might see more visitors around your property than when you lived inland. This can cause issues with parking, privacy, and potential issues using your private land.
Purchase One of These Waterfront Properties Today
Granbury realtors know all too well that purchasing a house can be a difficult decision. After all, there are so many factors to think about that it can be overwhelming. However, make sure you go over the pros and cons before making a final decision.
Since purchasing a waterfront property can lead to reducing stress, and even a steady income via rental agreements, make sure you can properly afford to maintain the property. It will take a hefty expense to afford flood insurance and fix wear and tear problems. However, if you can afford it, you’ll love your lake house.
So, what are you waiting for? Purchase a lake house today!
Now, for more information about Granbury real estate waterfront properties, contact us. We look forward to helping you find your dream home today!