First-Time Homebuyer Looking at Lakeside Property? Here are 10 Things to Consider!

June 16, 2022

Lakeside homes offer many benefits – including beautiful views, plenty of outdoor recreation opportunities, and often a sense of community – but they also come with some unique considerations.

Are you considering a lakeside property as your first home? If so, there are some things you'll want to keep in mind before making your decision.

In this post, we'll outline eight things that all first-time homebuyers should consider when looking at lakeside homes. We'll talk about important factors such as cost, maintenance, insurance, and more!

The cost of a lakeside home

It should come as no surprise that typically the cost of purchasing a lakeside home is considerably higher than the cost of a home located further inland. The price will vary depending on the size and location of the property, but you can expect to pay a premium for a lakeside home.

Maintenance and upkeep

One of the downsides of owning a lakeside home is that they often require more maintenance than homes located inland. The extra work is due to the fact that lakeside homes are more susceptible to weather damage, such as wind and flooding.

If you do purchase a lakeside home it is a good idea to budget for ongoing repairs so you are not taken by surprise later down the road. You can ask your realtor to inquire about the estimated costs of ongoing maintenance from the previous owner for a general idea of monthly upkeep.

Bugs and Wildlife

Another consideration to make when purchasing a lakeside home is the presence of insects and other wildlife. Depending on the location of your home, you may have to deal with more mosquitos than usual or even some dangerous animals.

Before making a purchase, research the types of bugs and wildlife that are common in the area so you know what to expect.


As we mentioned, flooding is a common issue for lakeside homeowners. If you are considering purchasing a lakeside home, it's important to research the property's flood history. You will also want to have an emergency plan in place in case of a flood.

Lakeside homeowners are required to carry flood insurance, which can be costly. Make sure to factor this added expense into your budget when considering a lakeside home.

Insurance considerations

When you purchase a lakeside home, you'll need to get insurance to protect your investment. Keep in mind that your lakeside home insurance policy will likely be more expensive than a policy for a home located inland. This is because insurers consider lakeside homes to be at a higher risk for damage.


Another thing to consider when looking at lakeside homes is accessibility. If you purchase a property that's only accessible by boat, you'll need to factor in the cost of a boat and docking fees. If the property is accessible by land, you will want to look into the public services provided. For example, do the roads get plowed during the winter months?


Depending on where you are looking at purchasing a lakeside home, you may become part of increasingly popular lakeside communities. While these neighborhoods are generally beautifully cared for and jam-packed full of amenities, they may also come at an additional cost. For example, living in San Diego lakeside communities along the lake require fees for homeowners associations, dock/beach usage, and more. It is important to be aware of all the potential costs as they can have a hefty effect on your budget.

Consider the commute

If you're looking at lakeside homes that are further away from urban areas, you'll need to factor in a longer commute. If you are hoping to find a secluded lakeside property you will want to factor in the travel time to not only get to work and/or school (if applicable) but also to necessary amenities such as grocery stores, gas stations, and medical offices.

Be prepared for natural disasters

Lakeside homes are susceptible to natural disasters, such as floods and storms. If you're looking at a lakeside home in an area that's prone to these disasters, be sure to purchase adequate insurance coverage. You should also have a plan for evacuating the property if necessary.

Environmental concerns

When purchasing a home lakeside you will need to be made aware of certain factors pertaining to the land and environment. You may not have as much say over your property as with an inland home and issues such as erosion, wildlife, and water contamination could become concerns.

Weigh the pros and cons

There are many things to consider when looking at lakeside homes. Be sure to weigh the pros and cons carefully before making your decision. While lakeside homes offer beautiful settings and some breathtaking views, they can also cost more to purchase and maintain. Purchasing a lakeside home is a big investment, so you want to be sure it's the right choice for you!

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