Considerations When Buying a Lake House

With warmer weather around the corner, now is the perfect time to purchase a family vacation home at Indian Lake! Whether you're craving weekend getaways, a retirement home, primary residence, or a vacation home, waterfront homes offer many attractive features. However, lakefront properties come with their own set of responsibilities. It's important to education yourself to make sure you are fully aware of waterfront duties. Read through these considerations when buying a lake house, preparing you for a summer full of new memories and laughs.

Choose a Trusted Agent

Purchasing a lake home is different than purchasing the typical residential home. There are different inspections and key points to be aware of, making it important to work with a trusted real estate agent who understands the waterfront market. At Choice Properties, our real estate agents are experts at buying and selling in the Indian Lake area.

Consider More Than the Lake Itself

Buying a lake house is an exciting time! However, it is important to still consider the home itself. Be sure to not let the eagerness of the lake to get in the way of home requirements, such as number of bedrooms and space. Indian Lake offers a wide range of homes suited to meet your needs, ranging from number of bedrooms to proximity to the lake. Perhaps you wish to have a personal loading dock or storage for lake toys. Remember these wishes when visiting open houses or exploring homes.

Factor In Expenses

The fun and memories made are definitely worth the cost, but don't forget to factor in other expenses as well. Waterfront properties often have a higher maintenance checklist than residential homes, including dock upkeep, rusting items and wearing out do to the proximity of water. These expenses can easily be avoided by taking care of possessions and tackling any issues at the first sign.

Fulfill Your Lifestyle

Perhaps the most important question to ask yourself is if the property fulfills your lifestyle needs. In the excitement that comes with buying a waterfront home, it can be easy to lose sight of why you want to live near the water in the first place. For example, a home on a lake beach may require you to travel to a nearby dock to store and use your boat. If you don't mind traveling a few miles to get to your boat, then a dock can be ruled out! Your happiness is the final factor in determining the lake house you desire.

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.

Indian Lake Boat Show

Spring is around the corner, which means it is time for the annual Indian Lake Boat show! The 2018 spring boat show will feature stunning deals,  beautiful weather, tasty food, and the chance to view available Indian Lake properties.

Waterfront Properties

Join Choice Properties during this fun weekend to view some of our beautiful waterfront properties! We will be holding open houses all day Saturday and Sunday, making it easy to fit your schedule. Stop in for a free chicken sandwich & drink, and pick up an Indian Lake Guide or chat with our award-winning realtors.

Open Houses

• OPEN HOUSE : SAT, MARCH 3, 12:00-1:30 - WATERFRONT - 7502 DUNNS POND CIR #4, RUSSELLS POINT

• OPEN HOUSE : SAT, MARCH 3, 12-2PM - 305 W MAIN ST, RUSSELLS POINT

• OPEN HOUSE : SAT, MARCH 3, 12:00-2:00 - WATERFRONT – 9495 LAKESHORE DR W, HUNTSVILLE  

• OPEN HOUSE : SAT, MARCH 3, 12-2:00 - WATERFRONT – 9327 SASSAFRAS DR, LAKEVIEW  

• OPEN HOUSE : SAT, MARCH 3, 12-2:00 - 11475 TR 293, UNIT 415, LAKEVIEW

• OPEN HOUSE : SAT, MARCH 3, 12:00-2:00 & SUN, MARCH 4, 12:00-2:00  - 7225 SR 368 #30, HUNTSVILLE  

• OPEN HOUSE : SAT, MARCH 3, 12-3:00 & SUN, MARCH 4, 11-12:30  –WATERFRONT – 129 CHASE, 3-1-L , RUSSELLS POINT

• OPEN HOUSE : SAT, MARCH 3, 12PM-4PM & SUN, MARCH 4, 12PM-4PM - WATERFRONT – 9511 HERON WAY, BELLE CENTER

• OPEN HOUSE : SAT, MARCH 3, 4, 1:00-3:00 & SUN, MARCH 4 1:00-3:00 - WATERFRONT –11566 HORSESHOE CH. DR, LAKEVIEW

• OPEN HOUSE : SAT, MARCH 3, 1:00-3:00 - WATERFRONT - 11011 PARK, LAKEVIEW  

• OPEN HOUSE : SAT, MARCH 3, 2:00-4:00 & SUN, MARCH 4, 1:00-3:00 - WATERFRONT - 7575 PARK AVE, RUSSELLS POINT  

• OPEN HOUSE : SAT, MARCH 3, 2:00-4:00 -  NEW LISTING - WATERFRONT – 10243 CR 286, # A-16, HUNTSVILLE

• OPEN HOUSE : SAT, MARCH 3, 2:30-4:00 - 10728 SEMINOLE SHORE (CO RD 272), HUNTSVILLE

• OPEN HOUSE : SAT, MARCH 3, 2:30-4:00 –NEW LISTING – WATERFRONT - 10422 BUCKEYE, HUNTSVILLE

• OPEN HOUSE : SAT, MARCH 3, 2:30-4:00 – 10752 SEMINOLE SHORE DR, HUNTSVILLE  

• OPEN HOUSE : SAT, MARCH 3, 3:30-4:30 & SUN, MARCH 4, 3:30-4:30 – WATERFRONT - 7478 DUNNS POND CIR #13, RUSSELLS POINT  

• OPEN HOUSE : SUN, MARCH 4, 12-2:00 - 7814 MAPLE ST, RUSSELLS POINT

• OPEN HOUSE : SUN, MARCH 4, 12-2:00 – 9050 POPLAR, LAKEVIEW

• OPEN HOUSE : SUN, MARCH 4, 12:00-2:00 - WATERFRONT - 8651 SR 368  #65-C, HUNTSVILLE

• OPEN HOUSE : SUN, MARCH 4, 1:00-3:00 - WATERFRONT– 10262 SUNSET ISLE, HUNTSVILLE

• OPEN HOUSE : NEW LISTING –SUN, MARCH 4, 2:30-5:00 - WATERFRONT - 11044 PEACH COURT, BELLE CENTER

We hope to see you on Indian Lake this weekend, preparing to welcome the season of spring! Our award-winning agents are eager to fill you in on available waterfront properties.

Have a question regarding locations, or buying and selling a Lake House? Contact us anytime, we'd love to hear from you!

Calculating the True Value of Waterfront Property in Ohio

Proximity to water is one of the largest influences on the value of a piece of property. Whether the property is located near a lake, river or ocean, buyers are willing to pay a lot more for it. A lot of people believe the value lies in the view, there's actually much more to justify the higher price.  

Desirability

Waterfront property tends to cost more because buyers place a value on this type of property. Look at it this way. If you'd pay $200,000 for a house with views of other houses and the street, what would you pay for the exact same house with a view of a serene lake, or of rushing rapids? Chances are you'd pay more, and that desirability factor is a big part of the higher price of waterfront property.

Scarcity

We all know that 70% of the Earth's surface is water. Even though water isn't scarce, waterfront land to build upon is. The basic principles of supply and demand dictate that prices go up for any desirable item for which there is a limited supply. The classic saying that the three secrets to real estate are "Location, Location, Location" holds true here. Being on the water is typically the best location available.

Development Cost

The value of waterfront property also lies in its development cost. Generally it is more expensive to develop. Builders might need to engage in special reinforcement to prevent erosion or avulsion of the land. Lake or riverfront properties may be located away from water, sewer and electric infrastructure, requiring developers to pay high connection charges or to build well or septic systems to provide basic utilities to the parcel. All of these additional costs get taken into account when the property is being priced for sale.

Size & Design

Other factors that can impact the price and value of waterfront property is its size and design. The property could be large to allow for a buffer between the house and the water in the event of flooding or erosion, or it could be common practice to build more expensive buildings adjacent to the water. Whatever the reason, people who can afford water views most likely are going to want a fancier home, so developers will put as much additional value as they can onto the waterfront lots so they can price the property higher.

If you have a prime waterfront location, it can significantly increase the value of your home. The question is only by how much. There is limited availability because there simply isn't enough waterfront land to build on. This makes the waterfront properties that do exist extremely valuable.

Nationally, waterfront homes can be worth more than double of the value of homes overall. The real estate website Zillow says that the most expensive waterfront homes are located in Hawaii, California, and along the coast of Long Island Sound. Nationwide, the premium for waterfront homes has increased year over year.

If you are interested in starting the search for your dream lake home, contact Choice Properties today!

What To Do If You Inherit Property In Indian Lake Ohio

Inheriting property is not an easy process. You may think that it's like winning the lottery, like getting a reward with little or no detriment, but the fact is that it's not that simple. There are many challenges that you will face if you inherit property. However, should you inherit property in Indian Lake Ohio, you will also see benefits, such as the value of your home going up, because the area is a desirable lakefront, and people are always looking to buy near the water.

Regardless, it can be tricky to navigate the emotions when you are inheriting property from a loved one you have lost. It is up to you to decide whether to accept or refuse this inheritance, and whether you want to use that property to live in or rent out or even sell. We have some insights to help you make those decisions.

Is There A Will?

Before anything else can happen, you need to determine whether there is a valid will. If there is one, then the probate process needs to be followed, and any outstanding debts paid. Without a will, the courts will follow the relevant laws of intestacy. Should there be a will, and its intention is for you to benefit from the property, then it is advisable to work with the executor of the estate as well as a trusted real estate expert. Find out if the deceased owes more on the mortgage than the property is worth, or if there are outstanding liens or taxes on the property, so you don't end up losing money by accepting the inheritance.

The good news here is that the state of Ohio doesn't levy estate or inheritance taxes, so you won't have to pay any for your Indian Lake Ohio property. However, there may be federal taxes to be paid.

Selling or Renting

Indian Lake Ohio is a location that is very much in demand. Even if the home you have inherited is not in great shape, the location can more than make up for it. You will probably be able to sell fast and for a good price. Or you might find that the home is up to date with improvements and repairs and you could make a good rental income while you decide whether or not to sell. After a few years of renting, you may even want to move into the home yourself. There are a lot of options available to you with your inheritance. Take some time and speak to experts like Choice Properties before you make the final decision.

Ultimately, what you do with your newly inherited property in Indian Lake Ohio is up to you. Different options work for different people. You may decide to keep the property for sentimental reasons, or for financial reasons. You may decide to sell for those same reasons. Whatever you want to do, get an appraisal first and find a good property agent. At Choice Properties, our experts will be able to guide you and answer any questions you may have, to help you make the right decision.  

For more information on speaking with our award winning real estates at Choice Properties, give us a call! 

Buying a Home in Indian Lake Ohio

Indian Lake Ohio is located in Logan County, western Ohio. Fed by the north and south forks of the several waterways, Indian Lake was named so because several tribes lived in the region and found it to be ideal for fishing and hunting. Today, the region is a great place to purchase a home with its beautiful lakes, activities, schools and other amenities at an affordable price.

Indian Lake

Indian Lake has numerous islands, including the "Indian Isles" chain which expands across the center of the lake with numerous wildlife areas and a 30 mile shoreline. Several of the areas have activities to enjoy including lake-front biking, walking trails and boat launches. Activities centered around the lake include a Jimmy Buffett weekend the first week of February along with the annual Boat Show the first weekend in March. The "Ring of Fire" is on Sunday evening prior to Labor Day weekend which explores an Indian tradition in celebration of the harvest. Many more activities are included which provide entertainment for the whole family year-round.

Lifestyle

Owning a property in Indian Lake, Ohio is all about lifestyle. People who choose to own homes in Indian Lake enjoy amenities surrounding the lake including dining and entertainment options but also find top notch schools and neighborhoods with affordable home prices. Purchasing a home in Indian Lake is an easy choice when looking at the small communities located near big cities but with a small town feel. Two villages, Russells Point and Lakeview, surround the lake along with many unincorporated areas. The area is bolstered by resort amenities nearby and opportunities to get into nature at every turn.

Buying a Home

Looking for a home in Indian Lake focuses on many aspects, depending on where a family wants to live. One of the focal points is, of course, waterfront property. Slightly more expensive for some properties, others may be in just the right price point to please any family looking to buy a home in the area for a first home or vacation property. Other options include buying homes in the suburban communities surrounding the area including Bellefontaine which includes shopping, dining and entertainment options with easy access to schools while providing a small town feel.

Buying a home in Indian Lake is not just a choice, it's a lifestyle decision. Families who want to live in the area or buy a vacation home are afforded the best of all worlds. Many entertainment options exist to explore the lakefront, nature, parks and camping as well as provide space for quiet and rest. Nearby bigger cities surround the town and provide a way to indulge in big city life without big city home prices. Affordable options exist for all price points in Indian Lake, Ohio and are just waiting for the right family to come and purchase to make the homes their own.