Should I avoid lake houses?

[SeanSchade]

I read on a couple of other forums that buying a house on a lake should be avoided. Is this just because of the higher property taxes, or is there something else I am missing. I found several homes with drop-dead beautiful views of the lake from the back porch! It looked like something from a postcard.

Any insight?

[FrankChodorov]

there is a serious second home market on lakes in NH where people with BIG money come to spend their summers...

[aries]

Theyre overpriced and the housing market is in poor shape

Besides that, hellish taxes.

[Dreepa]

hellish taxes.

[KBCraig]

1) Price
2) Taxes
3) Crazy environmental regulations on what you can and can't do in your own yard.

But, if you can afford it and want the headache, go for it!

Kevin

[Pat K]

Lake demons, all of the lakes in NH have scary demons. They look alot like Janet Reno.

[kindernacht]

We were looking at a few lake front properties up here in the north country originally, but decided against it due to the price and taxes.  It's really not that big a deal though, seeing as I'm less than a 2 minute drive from some great lake and mountain views, not to mention rivers, fishing, kayaking/canoing...whatever you might want.  It's pretty much up to personal preference and budget limitations...either way you're not going to miss out on the lakes, at least up here .

[FrankChodorov]

We were looking at a few lake front properties up here in the north country originally, but decided against it due to the price and taxes.  It's really not that big a deal though, seeing as I'm less than a 2 minute drive from some great lake and mountain views, not to mention rivers, fishing, kayaking/canoing...whatever you might want.  It's pretty much up to personal preference and budget limitations...either way you're not going to miss out on the lakes, at least up here .

the reason why is all lakes over 20 acres (and the groundwater) are owned in common as an individual equal access right in NH thus common access HAS TO BE provide to uphold our individual common rights.

there was a big fight here over public access to Squam Lake (a very exclusive lake that they filmed "On Golden Pond" on). 

[Rosie the Riveter]

I read on a couple of other forums that buying a house on a lake should be avoided. Is this just because of the higher property taxes, or is there something else I am missing. I found several homes with drop-dead beautiful views of the lake from the back porch! It looked like something from a postcard.

Any insight?

If you buy a lake house please let us come visit

[kindernacht]

the reason why is all lakes over 20 acres (and the groundwater) are owned in common as an individual equal access right in NH thus common access HAS TO BE provide to uphold our individual common rights.

there was a big fight here over public access to Squam Lake (a very exclusive lake that they filmed "On Golden Pond" on). 

i did not know that, but it makes sense...thanks for the info.  IMHO it isn't worth the extra money to live right on a lake, unless you're really rural and have some decent privacy.  having people tool around by my house does not a nice view make...but hey, whatever floats your boat.

[SeanSchade]

Thanks for all of the replies. I did notice the premium price for lake front property, but compared to the average MA home it wasn't too bad. So taxes and building restrictions are the two major drawbacks...I'll probably opt for a decent semi-rural house instead.

Thanks again!

My house goes on the market next week!

[Quantrill]

Maybe you could get a few acres and build a pond.  Not quite the same as a lake view, but I would hope taxes wouldn't be so high and you will have your privacy.

[citizen_142002]

Number one the cut-off for private ownership of "Great Ponds" is 10 acres in the state of New Hampshire. Anything over 10 acres is state property, not the 20 that Frank listed above.

Lake front property is more expensive, and the taxes are higher. In reality those aren't necessarily negatives. Lake front property is always in higher demand than non-lakefront, and the supply is much more limited. If you want a place to live at a lower cost then, it isn't the way to go. If you can afford it though, lakefront property is likely a better investment.

The idea that the market is "bad" right now oversimplifies the issue. A housing market is never really "good" or "bad" in a general sense. Right now property prices have dropped and are dropping. That means that buyers are getting better deals now than six months ago, and it's only bad if you're a seller. Now, I don't know when the market will turn around or how big a turn around there will be, but real estate is a long term investment. If I had the money, I would definitely be looking to buy a house within these next few months.

There are increased environmental acts if you're within 200 feet of the shoreline. A lot of this regulation deals with septic tanks, and earth moving. If you're buying a home with adequate septic, and you don't plan on doing any large scale clearing or moving of the land within 200' of shore, then the regulation will likely have little bearing on you.

It is all a matter of preference. I live on a lake now, and in my situation there isn't a real invasion of privacy. I feel a lot more private here than I would living in a development or an appartment, but like I said it's all about preference.

[FrankChodorov]

Anything over 10 acres is state property, not the 20 that Frank listed above.

my bad...it is not "state property" it is owned in common as an individual, equal access, opportunity right.

state property is owned collectively.

the state's only role is to act as the public trustee to insure the integrity of the common asset and to insure no individual's rights are being infringed from access.

[Dreepa]

and the taxes are higher. In reality those aren't necessarily negatives.