Maine Lakefront Property - Year Round or Seasonal?
December 27th, 2008 categories: Observations and Commentary
When it comes to buying lakefront property answering fundamental questions will greatly affect affordability. For instance: Are you looking for a summer place or a year round vacation home?
Nine out of ten people when posed this question will answer ” year round vacation home”.
However, consider the ramifications. A year round lakefront home will cost one 20% more than a similar seasonal “summer place”. No big deal? Well, it’s the difference between paying $400k for a seasonal or $480k for year round. If you’re only going to be using the place May through September a seasonal place might be for you. Why pay the extra $80,000??
Heating oil is relatively cheap right now, but when heating oil was $4.79 a gallon few lakefront homeowners liked the idea of keeping their year round vacation home heated all winter. With a camp, you close it down in October and reopen it in May. No heat bills!
Seasonal lakefront summer places are what “Mainers” call “camps”. These seasonal structures may look like houses but are missing a number of things that would qualify them as year round homes such as central heat, insulation and full foundations. However, many camps are easy converts to year round use.
So, think long and hard about the “seasonal vs. year round” question. If you know that you’ll be swimming and fishing in the summer and skiing and snowmobiling in the winter it’s a no-brainer. Year round is for you. But if you’re unsure about useage in the winter, being realistic and more practical could save you money both in the short and the long term.
Tom - MrLakefront
I purchsed a seasonal cottage in Wells, ME and I am now wondering if I made the right decision. Actually, it is a seasonal condo cottage. Will the seasonal property be easy to sell? Will I ever get my money back? It isn’t on a lake or the ocean so I will understand if you choose not to reply.
Hi Paul, Some seasonal properties can be converted to year round properties by the addition of insulation, central heat, a foundation.
However, some structures have been deemed seasonal by the town which means that the structure can never be used as one’s primary home. More of a zoning issue.
So I don’t know exactly what makes your home seasonal. You may wish to talk with the Code Enforcement Officer for the town of Wells.
There is still a demand for seasonal structues but not as great as for year round structures that can be used as one’s primary home.
If you bought in the last 5 years there is a chance that your condo is worth less than what you paid for it. However, over time values will recover.
Venture beyond and embrace all that nature has to offer. Located on the scenic north shore of Lake Travis, Waterstone is surrounded by miles of shoreline and the rolling landscape of the Hill Country, all begging to be explored.
Directly across from Lakeway, and a short boat ride from many area attractions such as Carlos N’ Charlie’s and Johnny Fin’s, Waterstone offers the seclusion of the Texas Hill Country with the proximity to some of the area’s, and Austin’s, greatest features.
————————–
lakefront condominiums
lakefront condos
waterfront condos
lakefront properties