Found the lot at the lake my wife and I would like to buy. It is fully treed (large pine trees) elevated and 1 row back from the lake 80 feet by 160 feet, and cheaper then we expected. We would have an amazing lake view over the lake fronts from our front deck as well as from the master bedroom/loft.
Here is the plan. We buy the lot. We hammer it down for the next 24months and then begin building this time 2014. Hopefully building costs will not be much higher but who could predict this. I will eventually general out the cottage.
There are only three of these lots available at this lake and they are the only elevated lakeview lots at any of our local lakes.
The environmentalists (who built their lakefront homes this year) will pass an ordinance denying any additional building permits. You won’t be able to cut any trees down or you won’t be able to install a septic system or a protected slug will be found on the property.
Found the lot at the lake my wife and I would like to buy. It is fully treed (large pine trees) elevated and 1 row back from the lake 80 feet by 160 feet, and cheaper then we expected. We would have an amazing lake view over the lake fronts from our front deck as well as from the master bedroom/loft.
Here is the plan. We buy the lot. We hammer it down for the next 24months and then begin building this time 2014. Hopefully building costs will not be much higher but who could predict this. I will eventually general out the cottage.
There are only three of these lots available at this lake and they are the only elevated lakeview lots at any of our local lakes.
I am looking into this as we speak. Based on the fact a plan was already developed for the area and it is a zoned residential lot I do not think it could happen.
Wouldn’t even be discussing it if we couldn’t. My wife currently only works 14hours a week in a position with job security (dental field). My job is secure.
Another one to watch out for is getting landlocked by federal lands and having the feds decide to close off access and convert you into a “willing seller” so they can move you out.
Confirm you have easments to access the lake. Even if you don’t care then next owner might. Check deed restrictions. Do you need utilities, Can you get them and at what price. Say there is no sewer line and you are forced to put one in to connect to one 1 mile away and it costs you 50,000. You’d have to pay it to build. Get any needed easments in place before you buy.
even if there’s a sewer line right there, if the last guy paid to have it run from a half-mile away, you may need to participate in his costs, at his discretion, depending on how things work out there.
otoh, if it’s septic, and you dig an exploration pit and hit high ground water, you might not be able to shit at all on that property.
is there a water line? if not, you’ll have to dig a well, is there water? if you’re close enough to the lake, you might have to dig more than x feet down, because any higher would constitute the need for riparian rights, which you almost certainly don’t have.
The lake is part of a lakeland RM. The RM has already sold the land to the current seller zoned for a single family dwelling. I have to put in a holding tank only for sewage and a cistern for fresh water. The main gas line is at the property line (waiting for an estimate) as is the power. Because of the lay of the land I have to dig a foundation with piles to solid ground.
The former owner has done nothing as far as power and gas. There are no easments other than those concerning the property line and building. I will be talking to the RM tomorrow so keep the questions coming.
Will you be able to put a dock on the water? Some lakes restrict dock rights to the first row.
Is this in a development? If so, how strong is the developer and what happens if he goes under?
Are there dues? HOA, club memberships? Are there limitations on how fast those can escalate? Any minimums associated with any of those?
In my part of the world the market for these properties has cratered. The values are 25% of what they were in 2006. It may be different where you are, but make sure you’re getting a deal.
Will you be able to put a dock on the water? Some lakes restrict dock rights to the first row.
Is this in a development? If so, how strong is the developer and what happens if he goes under?
Are there dues? HOA, club memberships? Are there limitations on how fast those can escalate? Any minimums associated with any of those?
In my part of the world the market for these properties has cratered. The values are 25% of what they were in 2006. It may be different where you are, but make sure you’re getting a deal.
No dock access, but my father owns a lakefront* with dock access and we share the same boat.
This is not in a development, it is essentially like a vacant city lot.
No fees other than taxes.
The asking price is $80k, however on closer inspection the lot will offer a great view but will require significant landscaping, in the order of 30 to 40K before it can be developed. It has been for sale for 2 years. I think people around here want move in ready cabins and are not willing to put in the work. I may put in an offer at 60k and walk away if he does not budge.
