Purchasing a property on the lakefront is a little different than just purchasing a regular single-family home. Purchasing a lakefront property requires a little more due diligence than purchasing a regular single-family home. Therefore, it is essential to know what to do when you are interested in purchasing a lakefront home.

#1: Know What Type of Water You Want

First, you need to know what type of waterfront home you are interested in purchasing. The kind of water your house is next to is going to impact your homeowning experience. For example, with a riverfront home, you are going to enjoy the sound of moving water, and you need to be aware of the risk of rising floodwater as well.

With a lakefront home, you will have more peaceful water sounds but may get more boat activity near your home. If you like the sound of surfs or crashing waves, you will want to go with a home near a bay or the ocean. However, with the ocean, you will need to deal with the impact of the salt on your home.

#2: Examine the Water

Third, you need to examine how the water impacts the property. You will want to figure out where the water table lies and figure out if the water table is high enough to impact flooding around your home, such as in the basement.

You will want to check and ensure the home doesn't have mold issues, which can be present as the house is closer to the water. You will want to conduct elevation certificates, water quality tests, mold tests, and other water-based inspections to ensure the property is in good shape.

#3: Check Insurance 

Second, you will need to check on the insurance requirements for the property you are looking at purchasing. With a waterfront home, there is always going to be a risk of flood damage. Depending on where the house is located, you will also consider the risk of earthquakes or hurricanes.

Therefore, it is essential to understand what flood insurance will cost and what homeowner's insurance will cost. More than likely, these costs will be higher than average, so you need to ensure you can pay them.

When buying a waterfront home, you need to put in a little more work. You need to consider how the body of water the house is located on will impact your overall homeowning experience. You need to run more in-depth water-based inspections to understand how the water impacts the home. You also need to figure out the insurance requirements for this type of home.

For more information about lakefront properties for sale, contact a local real estate agent team, like The Stockton Team: Keller Williams Showcase.