Waterfront property here in the Lakes Region of New Hampshire is the crown jewel of real estate. Our lakes are clean, clear, and healthy and are surrounded by beautiful wooded hills and mountains. I’ve been very fortunate to grow up here and live and work on these waters for my entire life. I’ve seen many changes and understand the lure of these waters. I know that business generated by the lakes is the prime driver of the tourist businesses that fuel the local economy. Ski areas, music venues, great restaurants, and local support businesses such as marinas and boat sales, landscaping and construction all add to the desirability of vacationing and living here and also benefit from the dollars folks spend here.
If you currently own a waterfront property here, I’m preaching to the choir. I don’t need to sell you on the appeal. If you are considering investing here, welcome. I hope you find the perfect property to create great memories for you and your family.
Before you begin to consider selling your waterfront home or buying a new one, you need to know that there are some real basics that describe and define our waterfront real estate market. Understanding these differences is essential when you are considering selling or buying waterfront property. I’ll outline what I believe is crucial to know about this market in this post, and I’ll go into more detail in specific articles in the future.
First, you need know that the waterfront real estate market here in the Lakes Region of New Hampshire is not like the standard residential market. By and large, most of the properties on the water are second homes. There are some year round residences, but they are not the rule. Second homes are a totally different market from primary residences. They appeal to a much smaller segment of the market and these buyers are sophisticated and usually well heeled.
Second, there are many different types of waterfront properties. Camps on a small lake or pond may sell for $300,000 or less. An estate on Squam Lake just sold in five days for $7,000,000! Island properties are a world unto their own. Exposure, views, water quality and depth, accessibility, taxes, and boat traffic all make each site different and unique.
Third, there are many type of access to the waterfront. Individual ownership, condominiums, shared access, and deeded rights all provide ways to use and enjoy the water, all at very different price points and levels of privacy and convenience.
All of these factors require further discussion in depth. I’ll write more on each sector in the following weeks. The waterfront real estate market here in the Lakes Region is unique. Knowing what drives the market and what appeals to potential buyers will make the process of selling or buying clearer and will equip you with the knowledge and understanding to guide you.
If you have any questions or comments, please contact me and I’ll be glad to talk with you.
Kim Cedarstrom is a licensed residential and commercial Realtor® at Roche Realty Group. Kim can be reached at firstname.lastname@example.org or at 603-520-6609 (cell) or (603) 279-7046 (office).