Having a home near the water is something many people dream about. Waterfront property is always in demand and often comes with a higher price tag than other properties. What makes it so valuable? And what features are buyers looking for? Here are a few of the reasons why people seek out a home on the lake and some of the factors that go into its value.

Waterfront Homes Offer Easy Access to Lakeside Activities

By far the biggest draw of a home on the lake is access to the fun and tranquility of the lake lifestyle. From boating and paddleboarding in the summer to ice fishing and ice skating in the winter, living by a lake offers a wide variety of leisure, recreational, and adventurous activities, year-round. This also makes it a great place to host family and friends.

Cabins on the Water Get You into Nature

While most folks get grass and trees for a yard, those of us Up North get a whole other biome. Living near a body of water means that you get to immerse yourself in nature and wildlife. Being near the water also cultivates an atmosphere of peace and tranquility, especially if you’re far away from busy cities. It makes these spots an ideal place to unwind and truly get away.

Limited Supply of Lakeside Homes

While there is no shortage of lakes in Minnesota, waterfront property is still a limited resource. There will always be more properties that don’t have water access compared to those that do, so this drives up the value. It also makes them a good opportunity for investment.

Additional Property Value Factors

All waterfront property is valuable, but these factors can give certain lakeside properties an edge over others:

• Water quality: Cleaner lakes are more desirable since they’re better for swimming and fishing.
• Size of the lake: Larger lakes are more sought after since they allow more space for boating and recreational activities.
• Views: The view of the water is often important to buyers, so having an unobstructed view of the lake can help raise a home’s value.
• Property features: Features such as docks, landscaping, or sandy beaches appeal to buyers.
• Location: Waterfront properties near larger towns or popular areas are worth more than those in extremely rural areas.

Waterfront properties are not only enjoyable now, but they can also be a great investment for the future. If you’re looking to buy or sell a lakeside home Up North, our team at Bill Hansen Realty has you covered with the resources you need. Contact us today to learn how we can help.