10 Affordable Towns to Purchase a Lakefront Property

Key Highlights

• Greater demand for getaway properties during COVID for both owners and renters
• Many of towns listed offer both summer and winter activities that can make year-round destinations
• List comes to us via com and forbes.com

As COVID continues to flourish in the US, many Americans are looking at extended lockdowns, extended remote working and learning and closer-to-home getaways when any type of getaway is possible. Purchasing a lakefront property within driving distance to one’s primary residence may be just the ticket for some of your clients looking for a vacation home, a full-time home in a vacation-type town or a family amenity with an opportunity to generate supplemental revenue.

Whatever one’s motivation might be to have a property on or near water, here are 10 affordable towns (recommended by realtor.com) to consider when purchasing a lakefront property. Many of these towns offer both summer and winter water-based activities as well as gaming casinos (Gouldsboro PA), tubing and go-karting (Wisconsin Dells WI), or strolling in historic districts (Vermilion OH).

1. Chestertown NY – Southern Adirondack town with approximately 550 residents.
   1. Homes and cabins on or near the water can expect prices to range between $300,000 and $725,000 depending upon size and specific location
   2. Second-home market booming this year
   3. Close to pricier Lake George and Gore Mountain Ski Resort
2. Branson MO
   1. Single family home prices range between the high $300,000’s to the mid/high $400,000’s
   2. Table Rock Lake and Lake Taneycomo are at your doorstep
   3. Silver Dollar City theme park, Dolly Parton’s Stampeded and live country music are available once COVID moves on
3. Glen Arbor MI – between Lake Michigan’s Sleeping Bear Bay and the Glen Lakes
   1. Home prices begin in the $400,000’s and go up
4. Chelan WA – high desert town on shores of Lake Chelan
   1. Just 3 hours east from Seattle
   2. Wide price range for condos ($350,000’s +) to more costly single-family homes (from $600,000 and up)
5. Gouldsboro PA – located in Poconos Mountain range in proximity to both New York and New Jersey
   1. Big Bass Lake is great escape from the city
   2. Offers hiking, skiing, casino gaming
   3. Entry level homes start in the $100,000’s
6. Vermilion OH – beloved beach towns on south shore of Lake Erie
   1. Called “Harbour Town” and feels like New England-style getaway
   2. Boasts quaint shops and restaurants
   3. Can get home needing some renovations for under $200,000 across from beach and up to $500,000’s
7. Wisconsin Dells WI – year-round destination halfway between Minneapolis and Chicago
   1. Manmade lake of Lake Delton plus dozen other bodies of water with shoreline homes
   2. Very affordable condos and cottages
8. Spirit Lake IA – dot tourist towns of Okoboji and Spirit Lake
   1. Family friendly with summer and winter water activities
   2. On larger bodies of water, expect to pay approximately $300,000’s and on smaller lakes, the range begins in the low $100,000’s
9. Ely MN – tucked away for waterfront privacy in midst of pristine lakes and unspoiled forests
   1. Log cabins overlooking Shagawa Lake run approximately $225,000
   2. Possible to buy cabin on private island for $800,000
10. Hot Springs Village AK – largest gated community in US
    1. 9 golf courses, 11 lakes and dozens of restaurants
    2. Townhomes and single-family houses on the shores
    3. 30 miles of forested trails
    4. Many move here for retirement

Thanks to realtor.com and forbes.com.

Also read: High Prices Making Consumers Rethink Buying A Home, Beach Towns Fear Collapse While College Towns Prepare for a “Corona-Coaster” Ride, Redfin’s Market Update as of Mid-October