It’s after Labor Day, so many of us have (or need to) put away the lake toys for the winter. Life jackets are stored, the boat is winterized, and the old sunscreen bottles are tossed in the trash. Most people aren’t thinking about NEXT summer yet. They’re focused on pumpkin spice lattes and sweater weather. But here’s what you need to know. Now is the time to shop for lake property! If you’ve entertained the idea of owning a house or land near the water next summer, here are 4 reasons why you should buy your lake property this fall!
#1 The properties are out there.
We all know that the best time of year to own property near the lake is in the summer. That’s when you get the most use out of it. Summer at the lake is for swimming, boating, fishing, you name it. So, step into the shoes of someone who wants to sell their lake property. When are they going to put their property on the market? After Labor Day. Sellers typically want to enjoy “one last summer” before they list their lake property. Therefore, when fall rolls around, there is typically a wave of new lake listings on the market.
Fall is a great time to shop for lake property because there is a great selection with lots of lake properties to choose from.
#2 Other buyers are starting to look, too.
Many people are used to the spring being a good time to look for houses because they’re used to following the typical housing market. Spring is a very common time to buy a home, but not a home on the lake. 39% of sales of lake properties take place between September and January. By the spring, the lake market can be very picked over. We recommend shopping for lake property now, before the competition ramps up.
Fall is a popular time for people to purchase lake property, so you don’t want to miss out.
#3 Know you’re making a wise investment.
Even the worst properties can look appealing when summer is in full swing. All you need is dock access and a view of the water, right? That’s actually NOT the case. Don’t forget that lake property is a full time investment, even if you only plan on using it in the summers. If you’re shopping in the off season, rest assured that you’re probably not making an impulse buy.
In the fall, and especially the winter, you get to see a lake house “at its worst.” The grass is dead, the water is cold, and you get to find out if the heat really works. Buying lake property this time of year allows you to make a more informed decision, knowing exactly what you’re walking into. In the real estate world, the less surprises, the better!
#4 Take your time preparing for summer.
Upon purchasing your new lake house or property, you’re going to want to make it your own. According to a survey from Trulia, 90 percent of American homeowners plan to remodel their house at some point. If you purchase your new property too close to summer, you won’t have time to move in, get settled, take care of necessary maintenance, and complete desired renovations before the warm weather arrives!
Buying lake property in the fall allows you plenty of time to get ready for summer!
