Buying waterfront property in Okoboji or spirit lake is one of the best investments you could make for you and your family. You'll get years and years of quality time with your kids while enjoying all the benefits of living on the water. Waterskiing across the lake, sailing on a breezy afternoon, taking a leisure cruise around the lakes, jumping off your private dock, or lying on your private beach with your toes in the water are all things that await you in the desirable community!
Once you have made the decision to buy a lakefront home, there are a few things to keep in mind before signing on the dotted line. Does the property have everything on your wish list, is the neighborhood the right fit for you family, are you going to rent this property out when you are not there, and should you get a home inspection before buying the property are all things we want you to think about before buying a home here. We have broken our tips for buying in this area to 4 main headings that will give you something to think about before coming and exploring these homes for yourself!
1. Consider The Entire Property, Not Just The Main House
For many home buyers the property itself is all that they are really looking at. Home Buyers want the perfect space to raise their families and a bit of yard space for barbecues and a play area for the kids. When you are buying waterfront property in Okoboji or Spirit Lake, you'll have to consider much more than just the home itself. The following are a few things to think about in a lakefront property:
- What condition are the docks in?
- Does the length of the dock suit your requirements?
- Is the water deep enough for the type of boat you are considering buying or currently own?
- Are there any buildings close to the lake where you can store all your water toys?
- Do you require a dockside cabin with washrooms and a kitchen to save you continually running back to the main house?
- What is the slop of the land and will it meet your needs?
- Does the land give you the space you need for all the activities you want to do on them?
2. Explore the Neighborhood Thoroughly
The Okoboji and Spirit Lake communities are filled with families that are already enjoying the spectacular beauty of this area. However, we know that you have your own reasons for buying lakefront property in this community and we feel it's worth you taking the time to check out the neighborhoods themselves. Are you looking for a quieter section of the lake where you can feel a bit more isolated? Do you want to be close to other families so your kids can find friends their own age to play with? Either way, we recommend you explain your wish list to our team of experts and we can start finding properties that match your needs. As well, another great way for you to understand the area better is to visit and meet some of the neighbors to see who is living in the general area. Keep in mind people buy and sell all the time, but knowing the neighbors and the area a bit better will make it that much easier for you find that ideal Okoboji or Spirit Lake, IA property!
3. How Important Is Rentability To You?
Buying waterfront property in Okoboji or Spirit Lake offers you some of the most desirable homes in the area. Not only do home buyers want to live on the water but renters looking for a family get-a-way are also focused on the waterfront as well. When you are buying your home and considering using it as a rental, you must look at it from a rental perspective. Ask yourself the following:
- Would you rent the home for a week or month in the summer?
- What is the view like?
- What would the revenue be?
- Would that rent cover your costs?
- What activities and amenities are close by for renters to utilize?
- What maintenance would you have to do?
- How easy is it to hire general help in the area to help maintain the property while you are away?
There are many other questions to consider but your initial scan of property should include the above questions. If you would not rent it, then that chances are you would have to make improvements to the property to get it up to a standard you would consider renting it out at. Also, if you don't like the area for your family, then maybe choosing a different location would be a bit more lucrative.
4. Make Sure You Get A Qualified Home Inspection Before Buying
Finding a good home inspector is key for any real estate transaction but when it comes to lakefront homes, there's additional things to keep in mind. The best way to get a good home inspector is to ask our team who we recommend. We are the experts in this part of the state and we have the connections that will work for you. The home inspector should be qualified in the area, have access to surveys and water quality tests, inspect for mold or mildew in the home, and perform a number of other water-based tests. This will give you peace of mind that the home is in good standing before you spend your hard earned money investing in your new life by the water!Posted by Eric Hoien on