Guide to Buying Lakefront Property in SW MO

Lake life in Southwest Missouri is unbeatable! From the hustle and bustle of Lake of the Ozarks to the serenity of Table Rock Lake, there is a unique lake experience for everyone. Many people find that they’d enjoy owning property on a lake after they’ve spent some time here. Whether you’re looking for an incredible vacation spot or a stunning lakefront forever-home, take a look at this guide to buying lakefront property before you get started. There are a few factors to consider when purchasing lakefront property that might be unfamiliar if you haven’t owned lakefront property previously. 

Decide On A Lake

The first step to purchasing lakefront property in Southwest Missouri is pinpointing which lake you’d like to live on. We have an abundance of lakes, rivers, and state parks around here, and each has its own identity and amenities. Some people are looking for a serene lake experience to get away from the hustle and bustle. Others might be seeking a lake destination with social events, adventure, and entertainment where you can dock your boat and join right in. 

Here are a few questions to ask yourself before deciding on a lake:

• Do you want to have neighbors nearby? 
• Is a good fishing spot a priority for you? 
• Do you need easy boat ramp access? 
• How do you feel about powerboat traffic? 
• How far from town do you want to be?

Missouri’s lakes have so many unique things to offer. It’s up to you to decide what kind of a lake experience you’re looking for. Take a look at these online resources to learn more about each of Southwest Missouri’s lakes and decide which one you’d like to own property on.

• Our Great Lakes
• Your Missouri Lake Guide

Experience Lakefront Property From Every Angle

When purchasing lake property, there are two aspects of a property’s location to consider: the condition of the house and the location on the lake. Once you’ve compiled a list of properties you’re interested in, go take a look around. Spend time inspecting the property from every angle. Look out at the water from the house. How’s the view? Scope out the view of the house from the water. Is it easy to get back and forth?

As you walk around, ask yourself these questions:

• Are you pleased with the view?
• Is this a safe spot to swim, lounge, and enjoy the water?
• Is the yard in good condition?
• How easy is it to get from the house to the dock?
• Does the property have adequate parking for family and guests?
• Is the property in a safe location for pets?
• How far is the house located from town?
• What is located nearby?
• How close are the neighbors?

Perform a Detailed Inspection

When purchasing any property, we recommend getting an inspection; However, with lake property, this is an even more essential step! Water is hard on a building, and being located so close to a large body of water can increase the risk of water-related or foundational issues. 

• Mold – Humidity, moisture, improper air flow, and leaks are all factors that can lead to a mold problem.
• Flooding – With storms and changing water levels, flooding is much more threatening for lake property. Look for any signs of water spots or standing water.
• Unstable foundation – Erosion is one of the most prevalent threats to lake property. Look for cracking in walls and floors.

There are surveys, elevation certificates, water quality tests, dock inspections, and other water-based inspections that you might not have done with a typical real estate transaction. These kinds of tests provide critical information when inspecting lakefront property.

Consider Unfamiliar Costs

It’s pretty common for the initial price tag on lake property to be higher than landlocked properties. A higher mortgage on a lakefront property is usually no surprise for most buyers, but there are a few other costs that tend to catch buyers off guard. Be aware of some of the “hidden” costs to ensure you find (and fall in love with) a property within your budget.

• Higher property taxes
• Increased insurance rates
• Septic system maintenance and replacement
• Dock and lift upkeep and repair
• Higher utility rates
• Homeowners’ Association fees

Wondering when’s the best time to purchase lakefront property? Read 4 Reasons to Buy Lake Property in the Fall.