If you’re buying a home at Smith Mountain Lake, you’ve probably entertained the thought of purchasing waterfront property. Waking up to a gorgeous view of the water and taking an afternoon jaunt on your boat doesn’t sound too shabby, and the sooner you can trade-in your work suit for some flip flops, the better.

But if you’re buying waterfront property for the first time, you may not know where to start or what to expect. Sure, you’ve vacationed here a number of times, but when it comes to buying your own waterfront property, you’re a bit lost.

Not to worry. I’ve had years of experience helping homeowners find their ideal Smith Mountain Lake waterfront property. Below are some of the most frequent questions I’ve heard throughout my career along with insight on how to navigate the process.

Where Should I Purchase?

This question is best answered after visiting different areas of the lake, as the answer has everything to do with the type of lifestyle that you’re aiming for. Each area of the lake has its own personality. Some are more private whereas some are more active. Do you want to be close to main attractions, such as Bridgewater Plaza, Westlake, or Downtown Moneta? Or would you prefer to be on the south side of the lake where you’re more removed? After we’ve met and determined what you’re looking for, I can curate a list of properties that speak to your goals and your budget.

How Much Should I Purchase?

If you’ve read any of my articles on downsizing or what to do before you buy a new home, then you’ll know that getting pre-approved for a conventional loan is one of the first things you should do. By knowing your budget, you’ll know how much home you are able to comfortably purchase. Also take into consideration any extra guests that you many be entertaining throughout the year, which will help you decide on the size of your new home.

What’s an HOA or POA?

An HOA (homeowners association) and a POA (property owners association) are groups within planned developments that work together to keep the atmosphere of the neighborhood cohesive. There are fees involved with an HOA, as well as obligations. The fees help cover the maintenance of shared structures and common areas. The obligations refer to the “rules” of the development, such as the look of your home, guest activity, and more. Your real estate agent will divulge whether or not a listing is part of an HOA, but you’ll want to practice due diligence and research the HOAs on your own to see if you’re on board with the requirements.

How Much Upkeep is Required with a Waterfront Property?

Upkeep for a waterfront property isn’t any more intensive than owning any other type of home…it’s just different. Waterfront properties usually have boat docks and lifts, as well as walkways leading to them. Keeping the shoreline clean is also important so that it doesn’t get choked with weeds and debris. Excessive rainfall can cause the area to flood, so you’ll want to make sure that you have proper insurance coverage for those unfortunate circumstances.

How Do I Get Started?

The first step in purchasing waterfront property at Smith Mountain Lake is to hire an experienced, local real estate agent. A local Smith Mountain Lake Realtor knows the questions to ask to help narrow down your search and works regularly with a team of experts (mortgage lenders, insurance agents, etc.) who specialize in waterfront properties. There’s no substitute for this level of expertise.

I’m ready to help you find your dream Smith Mountain Lake waterfront property. Contact me today to get started.