There are so many leaks around the Orlando area the buying lakefront property is not unusual or uncommon. However, there are different aspects to buying a lakefront home than there are two typical residential property. I want my homebuyers to really understand everything there is to know about buying lakefront property and to take the proper steps for jumping in with both feet.
Before you start looking at any lakefront homes throughout the Clermont area including Winter Garden, Mineola and the surrounding suburbs of Orlando, understand the current market trends, micromarkets and individual neighborhoods. Your real estate agent will help you determine if a home is overpriced for a particular neighborhood. This is why going with a local agent is so crucial and even more so, choosing an agent that is very familiar with buying lakefront property can help you ask the right questions and understand the purchase.
Related Post: Should you wait to buy a home? Maybe not!
#2. List the reasons you really want a lakefront home.
This might sound like a simple idea but why are you buying lakefront property? Do you want to view? Do you want to fish? Are you using it for boating and recreation? Do you simply want to for the resell value? All of these items can help you make a more informed decision on where to buy. Some of the lakes and small reservoirs around the Orlando area are perfect for different uses in finding the best area and the neighborhood for your needs can narrow the search down to help you find the right home.
#3. Understanding your budget.
Understanding your budget ahead of time and where you are financially can help you make an informed decision and a tactical negotiating strategy when it comes time to place an offer. If you understand the market by educating yourself first and you know your own finances, you can present an offer that is solid, tight, competitive and if you need to counter offer or negotiate, you know where your finances said and how much room you have to move.
#4. Stay unemotional.
In buying a home it can get very emotional and especially if you find a home that you feel you love only to discover that the seller is unreasonable, maybe the home inspection comes back riddled with problems or you simply can’t afford the home. By trying to stay unemotional it will detach you from the home itself making the purchase much more logical, sensible and reasonable when it’s all said and done. I understand how difficult this certainly can be. When you find a home you love it can be very hard to detach yourself emotionally but lean on the knowledge and expertise of your lakefront real estate agent to ask the important question so that you’re not sitting in your home in six months regretting your decision.
If you’re ready to get started looking at lakefront homes throughout Minneola, Winter Garden, Clermont and surrounding communities give me a call today for a customized list of homes that meet your search criteria and price. Need to get started with financing? I have some excellent resources to get the ball rolling on your next lakefront purchase.