Lake House - Buying Guide

[Knownothing]

Just curious on thoughts around buying a lake house. I think we would prefer MN, but open to MO WI or even in IA (Options seem somewhat limited)

Trying to factor in drive time from central IA, location (close enough to town with grocery store) but balance seclusion and peace. (No interest in Okoboji).

We’ve been to a few places in northern MN but I don’t even know where to start when considering all the possible lakes there.

Anyone else venture into this?

My suggestion is this. I have had lake homes in both Minnesota and Missouri. Currently Missouri because we just didn't think we could enjoy summer long enough in Minnesota. You get about two good months in Minnesota. Missouri you get about 5 months. Plus, in the winter Missouri we can still go hiking and so on. Unless you are just down with ice fishing. I would highly suggest Missouri.

Also, I agree with the Condo. I have a condo at Lake of the Ozarks and have zero upkeep. No mowing, no staining decks, none of that. Just ready to go when I get there and enjoy.

 

[nfrine]

Instead of looking for a lake house you should be looking for people who already own a lake house to make friends with. Than you can go several times a year for free.

Make friends with Freddy Hoiberg. He has a nice place in MN.

 

[jbindm]

It wasn't a lake house but my parents bought a vacation home in Lanesboro MN several years back. They sold it within eighteen months, largely for reasons already mentioned here - travel time, maintenance and upkeep, feeling like they had to go even when they didn't really feel like it just to justify the cost...

Rental properties are so easy to find anymore that I'd just go that route and save yourself the hassle.

 

[jcyclonee]

Parents owned a very nice place on Gull Lake in Minnesota (North Central near Brainerd and Nisswa)...right on the lake, about 20 minutes to services, etc.). They lived there, so the commute from Iowa (6-7 hours) wasn't really a factor. Things to consider....most decent places on lakes in Minnesota start at $500K; maintenance due to the extreme winters is very high; getting people to fix things is tough; utilities are high; etc. But the views, fishing, sking, etc. is absolutely great...at a cost. Winters are a *ITCH.

Wife's brother has a small condo on Tablerock in Missouri...love it. Cost for a 2 bdrm was right around $100K. 6 hour drive...they use it about once a month year round to escape Iowa. Low maintenance, low taxes, easy access to services. Only downside is dozens of very close neighbors.

Personally, I'd rent if you only intend to be up there for some of the time. And, I'd absolutely rent something for a week to experience the area before I even considered buying.

Also, lakefront property taxes are ridiculous.