1st thing ask if it has riparian rights, hoa, lake associations, or bottom lands. You need to know what you can actually do with your shoreline if anything. Then ask about bottom lands of the lake and see if they fit your interest. Then see if house fits the bill. Septics and foundation on lake houses are things to look hard at.
We own a lake property (on an awesome lake, by the way) and another thing to think about is that, depending on the county, you might have an uphill battle trying to do an addition or rebuilding altogether. Some counties seem to not want progress.
Great point, Barb. I really should do another video expanding on those type of covenants and grandfather rules. I appreciate the comment and for you watching!!
Would love it. We feel paralyzed with wanting to tear down our cabin and rebuild. We were already told that we have a "bluff" on our property and can't touch it or come within 20'. Basically our two lots aren't buildable. So frustrating.
Very insightful thanks for sharing. I do wetland delineations across MN and there's always a lot of extra hidden costs landowners are often unaware of it.
I'm looking at buying lake property that doesn't have a home on it (just cleared land). And getting a tiny house boat. The only issues so far that I can think of is 1.Finding a property is on the lake front without a home on it and not treed land but cleared. 2. Finding out who to ask about having a boat house on the water as my primary home Posted comment before watching
Finding untouched waterfront is only going to get harder. When looking at raw land, make sure you know about any associations, regulations, or covenants as they can dictate what you can do with the land. It sounds like you'll have to be patient as there isn't a ton out there right now for a reasonable price.
You can absolutely purchase with a loan product. Now, the seller may only accept cash a a term of sale, but there are many loan products you could get.
I don't have much experience with those types, and none outside of the Twin Cities. However, I can recommend that you do your research on comparable properties. There is a very good possibility that you can get a good deal, but these are usually available at auction and that can sometimes get out of hand. So, if you know your numbers and what the property should reasonably sell for as a traditional sale, you should be good. Are you looking at a specific property?
@@Nicksundahl We are! My mom is looking to finally develop an island on a recreational lake in becker county. The island has been in the family for almost 80 years. If we were to build, we do not have any shoreline on the lake, so we're just looking for a sliver of shoreline to park some cars and put a dock out. We've also been considering buying an easement from other landowners, but that seems like a headache.
Wow, very cool. Not many islands available these days. The easement option may actually be your best bet. Of course, you may have to speak to multiple land owners to get it done at a reasonable price.
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1st thing ask if it has riparian rights, hoa, lake associations, or bottom lands. You need to know what you can actually do with your shoreline if anything. Then ask about bottom lands of the lake and see if they fit your interest. Then see if house fits the bill. Septics and foundation on lake houses are things to look hard at.
Excellent info! I plan on doing a second video going more in depth on this stuff. Much appreciated!
We own a lake property (on an awesome lake, by the way) and another thing to think about is that, depending on the county, you might have an uphill battle trying to do an addition or rebuilding altogether. Some counties seem to not want progress.
Great point, Barb. I really should do another video expanding on those type of covenants and grandfather rules. I appreciate the comment and for you watching!!
Would love it. We feel paralyzed with wanting to tear down our cabin and rebuild. We were already told that we have a "bluff" on our property and can't touch it or come within 20'. Basically our two lots aren't buildable. So frustrating.
Ugh! I can imagine.
Very insightful thanks for sharing. I do wetland delineations across MN and there's always a lot of extra hidden costs landowners are often unaware of it.
Thanks so much for the compliment! Keep up the good work!
I'm looking at buying lake property that doesn't have a home on it (just cleared land). And getting a tiny house boat. The only issues so far that I can think of is
1.Finding a property is on the lake front without a home on it and not treed land but cleared.
2. Finding out who to ask about having a boat house on the water as my primary home
Posted comment before watching
Finding untouched waterfront is only going to get harder. When looking at raw land, make sure you know about any associations, regulations, or covenants as they can dictate what you can do with the land. It sounds like you'll have to be patient as there isn't a ton out there right now for a reasonable price.
This is Very Important Info. -- I learned a lot ! I hate muck -- we need a BIG swimming Lake ! Septic only on the Lakes here !
Wow! Some things I never considered, super helpful as we start out on this purchasing journey.
Right?!?!
Can you do a video on the best lake properties in MN? Thanks!
That’s a great idea.
I'll try, the only thing is access to those properties. How about the best lakes to live on???
If you’re just looking for a plot of land on a lake, can you get a loan for that? Or is that a cash buy
You can absolutely purchase with a loan product. Now, the seller may only accept cash a a term of sale, but there are many loan products you could get.
Do you have any experience buying tax forfeited property from the northern counties? Is there anything to know?
I don't have much experience with those types, and none outside of the Twin Cities. However, I can recommend that you do your research on comparable properties. There is a very good possibility that you can get a good deal, but these are usually available at auction and that can sometimes get out of hand. So, if you know your numbers and what the property should reasonably sell for as a traditional sale, you should be good. Are you looking at a specific property?
@@Nicksundahl We are! My mom is looking to finally develop an island on a recreational lake in becker county. The island has been in the family for almost 80 years. If we were to build, we do not have any shoreline on the lake, so we're just looking for a sliver of shoreline to park some cars and put a dock out. We've also been considering buying an easement from other landowners, but that seems like a headache.
Wow, very cool. Not many islands available these days. The easement option may actually be your best bet. Of course, you may have to speak to multiple land owners to get it done at a reasonable price.
Where specifically are you looking at?
I hope all you people in Minneapolis see this and decide to stay put
I appreciate you watching and thanks for the comment!
lol