10 Waterfront Home Buying Tips from our Agents

From searching for the perfect location to getting pre-approved, purchasing a waterfront home can feel like an overwhelming process. At Choice Properties, our expert lake house agents understand the ins-and-outs of buying a waterfront home, eliminating the stress and worries that tag along. These 10 waterfront home buying tips from our agents will give you awareness on what to expect when purchasing a home by the water.

   1.Find a trusted real estate agent who is familiar with the waterfront area.

An average real estate agent will not have the detailed knowledge of waterfront properties in Ohio to help you find the best deal for your budget. Although you may think you found a great deal, it's important to make note of features and amenities the home lacks that makes it a great deal. Having a trusted real estate agent will ensure you are getting the most out of your budge.  

2. Consider the property rather than the house structure.

Often times with waterfront properties, many buyers will fall in love with a house and not realize the mucky water or lack of privacy. Keeping an open mind and buying a property you love rather than a house you love will drastically change the outcome. It's important to remember a house can always be updated, but can not be relocated.

3. Purchase a property that truly suits your lifestyle.

You may find a property you love, but it could be 30 minutes from the lake or your desired location. If you enjoy going on the boat or watching the sunset by the lake, that drive will change the amount of times you truly get to take advantage of those activities.

4. Research loan options early.

Since most waterfront properties are more expensive than residential homes, loans often fall into the higher end of a mortgage payment with a lake house. Because of this, lenders only consider buyers who are extremely qualified knowing they can afford the second home. It's better to look into loan options early on in the process to prepare your house hunt.

5. Make sure the home structure is able to withstand water.

Unlike average homes, waterfront properties are more exposed to harsh elements, meaning extra measures should be taken to protect the home. Taking the appropriate action to take care of the home will ensure years worth of use.

6. Insurance can be more expensive and complicated.

Along with the loan options, getting home insurance for a lake home can be more expensive and take quite a while. Each state holds different regulations for the type of insurance needed, so being aware of these and deciding which insurance is best for you will relieve stress in the long run.

7. Research potential projects you can do with the property.

If you are interested to making changes to your waterfront property, such as adding a deck or boat dock, we suggest starting these projects early to ensure the projects are doable. Also researching activities that are allowed on the lake will prepare you to what to expect, such as jet ski restrictions or other rules.

8. Chat with local neighbors.

Stop by the local community and neighbors to see how they enjoy living in the space or if they have any issues. Discussing these will allow you to get insider-information, and they may even offer tips to landing the waterfront property of your dreams.

9. Look into the expense of utilities.

Those who are looking to buy waterfront may not have considered the expense of utilities. Bringing services such as cable, wifi, clean water, septic systems, or electricity can be expensive and should be planned out in advance.

10. Understand the responsibilities that come with being a waterfront homeowner.

Understanding the responsibilities of your property will come with a smooth transition and happy neighbors. If your waterfront property is part of an HOA, be sure you are familiar with the rules and agree to follow.

Choice Properties understands your needs and desires when it comes to the home search. We are here to help you define what you want, seek the best property and move forward feeling educated and able to make good decisions throughout the process. You can trust us to help you navigate it with the best real estate agents working for you. Call us to get started on your dream home search today.

4 Reasons You Should Buy a New Home this Fall

Fall is beautiful season for many reasons, from orange and yellow hues on the trees, to pumpkin carving with kids and savory comfort soups on the stove. There are many reasons to fall in love with fall, but did you know it is also the perfect season to buy a new home? Similar to how you score deals at your favorite clothing store during the season change, real estate works the same way! Fall is one of our favorite seasons here at Choice Properties because of those who are taking advantage of the peak season. Our expert agents have listed the top 4 reasons you should buy a new home this fall!

Inventory from Spring

Those who are looking to sell their home tend to do so at the first sign of spring, assuming the fresh greenery and flowers blooming will appeal buyers. Although there is never a bad time to sell, these homes often get listed too high resulting them sit on the market throughout the summer. If the house is still on the market come fall, the price usually gets reduced making it a prime time. This is the perfect time to browse properties you have had your eye on to see if they are still available and if the price is down.

Less Competition

Most families with children start their home-hunt at the beginning of summer, allowing them to move right before the new school year. This also means these buyers are no longer shopping for a house, creating a decrease in the competition. Take advantage of open houses being less crowded, leaving conversations with a good first impression expressing interest.

Sellers are Motivated

With winter and the end of the year approaching, sellers are more motivated to get their homes sold in order to close before the end of the year. When selling before December 31st, they are ensured a tax benefit. Most sellers are also looking to close before holiday's, eliminating the stress and thought to enjoy time with family. If you come across a seller who seems eager to get the process moving, take advantage!

Lack of Landscaping

With the trees losing leaves and summer flowers dying, landscaping may seem unappealing to multiple buyers making them uninterested in the space. Keep an open mind and use this as a motivator to think creative.

There is a great deal of benefit from those who decide to buy a new home during the fall months. If you decide to hold-off on shopping around until fall, you will be grateful to see an open market with reduced pricing and less competition.

Choice Properties understands your needs and desires when it comes to the home search. We are here to help you define what you want, seek the best property and move forward feeling educated and able to make good decisions throughout the process. You can trust us to help you navigate it with the best real estate agents working for you. Call us to get started on your dream home search today.

Home Inspection Tips for Lakefront Property in Ohio

In every home purchase, whether you're family is settling into a residential home or buying a summer lake house, it is always recommended to get a house inspection. Having a full understanding of the home and the potential repairs will save you time and effort, allowing you to fully enjoy your new space! The experts at Choice Properties understand the fun that comes with purchasing a lake house, but we also understand the importance of safety by getting a home inspection. Stay tuned to learn these home inspection tips for lakefront property in Ohio!

Radon

Radon is regularly inspected for residential homes, but it is especially important to check for in your lakefront property. Radon is more commonly found around homes near Ohio Lakes, and is known to cause certain health issues. This invisible and odorless gas rises from the soil, making it an important note to have your home inspector perform a standard reading.

Seawalls

Seawalls are unique to buying an Ohio lake house, but without inspection can be costly and challenging to repair. Seawalls are vital when owning a lake house, as it prevents erosion of your shoreline. Seawalls can be made out various materials such as wood, concrete, or stone with each product holding a different life expectancy.

Boat Lifts

Boat lifts are a great perk that come with owning a waterfront home in Ohio. Similar to seawalls, boat lifts boat lifts will have different costs or challenges due to the variety of lifts. With most boat lifts come electrical wires near the water, meaning it is crucial your inspector checks the functionality of the lift as well as electric by the dock.

Decking

Many lake houses come with beautiful decking, some ranging from one relaxing deck to several stories. Ensuring these decks were built with safety measures in place allows you to peacefully enjoy the view without worry. Often times, lakefront property in Ohio will have decks built with composite boards or aluminum rather han lumber. Having your home inspector study the structure of the deck will give you an idea of life expectancy and maintenance, along with confirmed safety.

Well and Septic

Most residential homes are on city water and sewer systems, but most lakes in Ohio are too far from the beaten path to be hooked up to city water. This means Ohio lake homes will have a private well and septic. If not maintained properly, both of these items can be very expensive to fix. The septic should especially be inspected with precision due to the proximity of the lake.

Making the decision to purchase a lakefront property in Ohio is exciting, and should come with a stress-free experience! Don't let the eagerness keep you from ensuring safety in your new space, giving you years worth of memories to look forward to.

Choice Properties understands your needs and desires when it comes to the home search. We are here to help you define what you want, seek the best property and move forward feeling educated and able to make good decisions throughout the process. You can trust us to help you navigate it with the best real estate agents working for you. Call us to get started on your dream home search today.

How Do I Determine My Home's Value?

When going through the process of buying or selling a home, you may be wondering how to find the value of the home. The first step selling a home is determining an appraisal. Although many are familiar with the meaning of appraising a house, new home buyers are worth noting the steps and explanations behind the concept. Some may find frustration when appraising a home, due to the ever-changing process because of new Federal Guidelines. When buying or selling through Choice Properties, it is our priority to ensure the buying/selling process is smooth, free of frustration. If you find yourself asking, "How do I determine my home's value?", here is what you should know.  

Appraisals Take Longer

Unfortunately, appraisals take longer than what they used to, meaning the process now takes a couple weeks rather than a few days. It used to start with mortgage brokers who would then hire their own appraisers to determine the value of a house. Following the financial crisis, the federal government decided the arrangement was not the most efficient. Issues between appraisers and sellers disagreeing on pricing made it so appraisers weren't getting hired, therefore determining the Home Valuation Code of Conduct, which are a set of rules that strictly determine how appraisals should be made.

Cost of Appraisals

Not only do appraisals take longer than they used to, they also cost more. The cost of appraisals have gone up a couple hundred dollars, and are leaving sellers with an overwhelming amount of frustration. Those within the industry have mentioned the new crop of appraisers are inexperienced and unfamiliar with the selling market. The appraisal management companies will send appraisers anywhere from 50-100 miles away from the property, leaving them clueless on market trends.

Get Engaged in the Process

We recommend involving yourself in the appraisal process rather. Making it clear that you are interested in every step, and that you are willing to answer any questions while the appraiser is walking through the house. Clearing up mishaps, such as mistaking a countertop for laminate rather than granite, will definitely pay off in the long run. Afterall, your home deserves to be sold at the highest value possible.

Choice Properties understands your needs and desires when it comes to the home search. We are here to help you define what you want, seek the best property and move forward feeling educated and able to make good decisions throughout the process. You can trust us to help you navigate it with the best real estate agents working for you. Call us to get started on your dream home search today.