Top 5 Reasons to Buy a Lakefront Property
One great thing about living in the Midwest (specifically in Illinois for our Chicago interior design firm MOOD | Design + Build) is the access to nature, including our beautiful lakes. From the iconic Great Lakes to hundreds of smaller lakes throughout the Midwest, we’re spoiled for choice! And with beautiful lakes come gorgeous waterfront homes and lakefront properties that can serve as primary homes or as spots to get away on vacation. If you live in Michigan, Illinois, Wisconsin or surrounding states, chances are, you know someone who has their own lake home. And on top of that, chances are, you’re jealous of them!
If you’re like many of our interior design-build clients, you might be intrigued by the idea of owning your own lake home but are on the fence because you’re uncertain if purchasing a lakefront property is a worthwhile investment. I’m here to tell you that it is worth it—and for more reasons than just one! These are our top five reasons why you should purchase a waterfront home and embrace the lake life.
Lake Homes are a Great Investment
This may come as a no-brainer, but the matter of fact is that homes with a water view have a much higher rental potential than homes without one. This, along with the fact that there is a high level of scarcity when it comes to lakefront homes, makes investing in a lake home for yourself a great financial decision.
While not for everyone, many lake homeowners often opt to rent out their lake house when they’re not using it themselves. Vacation rentals on the water attract significantly more potential tenants than non-waterfront vacation homes. So you’ll find it fairly easy to find high-quality, consistent tenants for your lake house whenever you want.
Spend Time with Family at Your Lake Home
If there’s anything that the COVID-19 pandemic has taught us, it’s to truly treasure the time we spend with loved ones. As someone who always tries to see the glass half full, I like to appreciate the good that comes out of an otherwise negative situation. One positive aspect in this past year is the bringing together of family units. Now more than ever, people are feeling motivated to gather with family in spaces away from the busy outside world; Somewhere safe and secluded where they can find refuge. Lake homes are, in my opinion, one of the best solutions to this motivation.
Waterfront Homes are Valuable
According to Zillow, waterfront homes are over two times more valuable than an average single-family home. You won’t see this type of incredible value from houses that aren’t located on a lake. Additionally, lakefront properties are known to maintain their value and even increase in value over time. Think about it: If given a choice, almost everyone would opt to live on a body of water than live elsewhere. And yet, waterfront properties are significantly more scarce than landlocked properties. While more expensive than typical homes, the benefits far outweigh the extra costs of owning a lake house.
Lakefront Properties Offer Privacy
No one can disagree that the more privacy you have, the better you feel. Let’s face it: You can have all the fencing and hedging in the world, but when you live in the city, you’re never going to get full, 100% privacy from your neighbors and people just driving through town. Waterfront properties and lake homes offer an immense level of privacy because of their secluded location away from the city. When you live on the lake, the most outside interaction you’ll find is the occasional boater cruising by. That’s nothing compared to the constant traffic a busy suburb can get!
Lake Homes are Stress-Free Getaways
The last and possibly most convincing reason why you should consider purchasing a lake house is that they allow you to have your own personal space to get away from the everyday stressors of life. There’s no doubt the Americans are more stressed now than ever. It’s vital to manage that stress properly to live a happy and fulfilling life. Getting away to a vacation home on the water is one of the best ways to destress with some valuable r&r to recharge your batteries and break up the mundanity of life. Whether or not you’re actually on vacation, you’ll still feel like you’re on vacation when you’re at your lake house!
At MOOD | Design + Build, we’re more than just your go-to interior design-build firm in Chicago. We’re here to help guide you through the entire process of achieving your dream home. We can help you find, purchase, build or design your dream lakefront property from the ground up, and make your dream life on the lake a reality. If you’re interested in how this works, check out our guides on working with an interior designer for the first time and planning for a home remodel.