A Buyer's Guide to Waterfront Homes in Lake George, NY

Lake George, located in the Adirondacks of New York, is a beloved destination known for its pristine waters, majestic mountain views, and year-round outdoor activities. Unsurprisingly, many buyers are drawn to owning a waterfront home in this scenic paradise. If you’re considering making such a purchase, it’s important to be well-prepared, as waterfront properties have unique considerations. Here’s a comprehensive guide to help you navigate buying a waterfront home in Lake George, NY.

Lake George’s real estate market is highly competitive, particularly for waterfront homes. The limited supply of properties directly on the lake drives demand, making it essential for buyers to act quickly when they find a home they love. Waterfront properties are often viewed as both a lifestyle investment and a financial one, with many homes appreciating in value over time.

Waterfront homes in Lake George range from cozy cottages to expansive luxury estates. Prices reflect factors such as location, size, amenities, and proximity to town or major attractions. Depending on their features, it’s common for waterfront homes in Lake George to start in the high six figures and easily surpass the million-dollar mark. As a buyer, having a clear understanding of your budget and financing options is crucial before diving into the market.

Not all waterfront homes in Lake George offer the same type of access to the lake. Some homes are situated right on the water with private docks, while others may have limited or shared lakefront access. Before purchasing, assess how you intend to use the water. Do you plan on boating, fishing, or swimming regularly? If so, having direct access to the lake via a private dock is a significant advantage.

In addition to access, the shoreline itself is also worth considering. Some properties have sandy beaches, while others have rocky or steep terrain. If you have young children or are looking for ease of access, the type of shoreline can play an important role in your decision.

Lake George is a protected body of water with strict environmental regulations aimed at preserving its pristine condition. These regulations affect what you can and cannot do with a waterfront property. For example, there are limits on dock size, boat access, and even shoreline landscaping. Before purchasing a waterfront home, familiarize yourself with the local zoning laws and environmental guidelines. Here is a link to a few helpful sites as you begin to research.   LGPC website https://lgpc.ny.gov/ and the APA adirondack park agency 

Additionally, there are specific requirements for septic systems, as improperly managed systems can negatively impact the lake’s water quality. Inspecting the property’s current setup and ensuring it meets local standards is crucial.

Waterfront homes are exposed to the elements more than other properties, which can lead to accelerated wear and tear. Humidity, water runoff, and exposure to wind can damage the home’s structure, particularly if it has not been properly maintained. As part of the buying process, hire a qualified inspector experienced in evaluating waterfront homes. They will look for signs of water damage, mold, erosion, and foundation issues.

Additionally, homes located directly on the lake may need extra measures to withstand the elements, such as waterproofing, specialized roofing, and higher-quality siding. Keep these potential upkeep costs in mind when evaluating your options.

While Lake George is a vibrant summer destination, it’s important to consider how livable your prospective waterfront home will be during the colder months. Winters in the Adirondacks can be harsh, with significant snowfall and freezing temperatures. Some waterfront homes are more suited for seasonal use, while others are designed for year-round living.

If you plan to live in the home year-round, ensure it has proper insulation, heating, and road access during the winter. Seasonal homes may not be fully equipped for winter living, so you may need to budget for upgrades to use the home beyond the summer months.

Lake George offers a variety of neighborhoods and communities, each with its own distinct character and appeal. Whether you prefer the bustling village area with easy access to shops and restaurants or the more secluded spots where privacy and tranquility reign, there’s a part of Lake George to suit your lifestyle.

For example, homes closer to Lake George Village tend to be more expensive due to their proximity to attractions, dining, and entertainment. On the other hand, areas like Bolton Landing or the quieter bays of the lake may offer more seclusion and a sense of retreat, perfect for those seeking privacy and a connection with nature.

Owning a waterfront home often comes with additional maintenance responsibilities compared to inland properties. Routine maintenance such as shoreline erosion control, dock repairs, and water system upkeep may be required. Hiring local professionals familiar with waterfront property care is essential to maintaining your home’s value and usability.

Insurance is another important consideration. Waterfront homes may be at a higher risk for flooding or storm damage, which could impact your insurance premiums. Before purchasing, speak with insurance providers to understand the costs involved and any special coverage you may need, such as flood insurance.

Waterfront properties in Lake George are generally considered a good investment, but it’s still important to consider future resale value. Homes with private lake access, desirable views, and proximity to town tend to hold their value better than those with less favorable attributes. If you’re considering selling in the future, it’s worth considering what makes a property appealing to other buyers.

Keep in mind that the real estate market can fluctuate, and while Lake George is a popular location, market trends can vary. Working with a local real estate agent who understands the unique dynamics of the Lake George market is essential when assessing both short- and long-term investment potential.

When buying a waterfront home, it’s crucial to partner with a real estate agent specializing in the Lake George area and having experience with waterfront properties. A local expert can provide valuable insights into the best neighborhoods, market trends, and the unique aspects of buying a home on the lake.

They’ll also help you navigate the complexities of waterfront regulations and the inspection and negotiation process. Whether you’re looking for a vacation home, an investment property, or a year-round residence, having a knowledgeable agent by your side ensures you make a well-informed decision.

Purchasing a waterfront home in Lake George is a dream for many, offering the chance to enjoy the lake’s natural beauty and the serene lifestyle that comes with it. However, it’s essential to understand the specific challenges and considerations of buying a waterfront property. By familiarizing yourself with the local market, assessing the property’s features, and working with a trusted real estate professional, you can find the perfect waterfront home that meets your needs and desires.

If you're ready to make your dream of owning a waterfront home in Lake George a reality, there's no better team to guide you than The Sherwood Group. With unmatched expertise in the Lake George area, they understand the unique challenges and opportunities of purchasing a waterfront property. Their commitment to personalized service ensures that you’ll find the perfect home to fit your lifestyle. Contact The Sherwood Group today to get started on your journey to lakefront living! Visit The Sherwood Group for more information.

_{*Header photo courtesy of The Sherwood Group}