January 23, 2009

The Next Best Thing to a Lakefront

Posted to Delavan, Julie Sarton

If you don’t have several million dollars handy to purchase a lakefront home, but like being near to or having a water view, having access to a private beach, or even having your own boat slip, don’t give up…a lake access home may be perfect for you. Most lakes in Walworth County offer homes in private home owners’ associations with shared lake access, be it via ten feet of frontage or through larger lakefront parks. Lake access associations can be as small as 5-10 homes, or as big as over 100 homes. Usually there is an elected Board of Directors, and yearly costs and dues are voted on at annual meetings. The dues support the costs of the shared lakefront: lawn maintenance, pier in/out and repairs, real estate taxes for the frontage, insurance, lifeguards for the swim pier, if any, etc.

Because the DNR regulates and restricts the number of piers and boat slips on our lakes, there are usually not enough slips for all the home owners with boats. In that case, you can put your name on a waiting list for the next available slip, which is determined by how soon someone moves. Traditionally once you get a slip you can keep it until you sell and move; once you move, the new owner moves to the bottom of the waiting list. Some associations are lucky enough to have a slip for every home owner; in the event of a sale, the slip transfers with the home. This is known as a ‘deeded’ or ‘transferable’ boat slip, and adds significant value to any home. While waiting for a boat slip, other temporary avenues are to rent a municipal buoy or place your boat in an in/out storage arrangement with a local marina. If you’re not a boater, just enjoy your shared lake frontage with a good book and some sun tan oil or marvel over some drop dead sunsets.

One of the best arrangements is to find an available home with an unimpeded lake view that sits on the association’s lakefront park. It looks just like a lakefront home, but since the land between the home and the lake is association land, you don’t pay lakefront taxes….a huge benefit! A good example of a lake access home association (and one of my favorites) is Windtree on Lake Delavan. Twelve homes wind down wooded, private Windtree Lane to a spacious lakefront park. Windtree offers a permanent boat slip for each owner on its association pier just off the park. Homes are priced from $425,000 fully furnished with a boat (see my listing here) to $800,000+.

At the time of this writing I searched four of our major lakes in Walworth County for listed lake access properties, and there were 196 of them priced from $85,000 to $1,600,000. For more information on these properties, visit my website at www.sartonproperties.com or email me at jsarton@keeferealestate.com. With such large inventories begging to be purchased at rock bottom prices and interest rates, now may be the time to treat yourself to a lake get-away!

Posted By: Julie Sarton

Leave a Comment