Selling a home will always be a massive task, but when you want to get the best money for your lakefront property, you need to come prepared with a winning plan.
With a lakefront home, you are selling more than a house and a piece of property, but also the lakefront lifestyle. The real estate experts at the Trillium Team know how to sell both your property and that lakefront lifestyle, which will separate your property from the rest.
There is much to think about, so if you want to find out the best way to sell your lakefront home, follow these ten tips.
Tip #1 Choose an Agent Who Understands Lakefront Property Sales
Choosing the right agent to represent you and your home is vital. Working with an agent who has experience with lakefront real estate can significantly improve your chances of getting a great price for your home.
Go for an agent who can sell the benefits of buying a lakehouse to potential buyers.
Tip #2 Price Based on Water Proximity and View
According to a 2018 analysis of multiple lakefront property value studies by Dr. Michael Sklarz and Dr. Norman Miller, Lakefront properties are typically worth more than other homes in the same location.
Though multiple factors can raise or lower your lakefront property’s value.
You can place a higher premium on large lakefront properties versus smaller lakefront properties. You also lose value quickly the further your property is from the water. Sklarz and Miller note in their analysis that premiums rapidly decline after 60 to 100 meters out.
Tip #3 Know Everything About Your Home
If your home is on a lake, buyers will often ask many questions about lakefront living, especially if they have never owned waterfront property before. Be ready and prepared to answer them.
The ability to price a home well requires in-depth knowledge of your home, basically knowing your home inside and out.
Understand how the location of your property plays into the price, and get accurate measurements of square footage, the size of the lakefront, and other factors that will make a significant difference in the cost compared to other homes in the area.
Tip #4 Get a Pre-Listing Inspection
Put in the extra effort and order a pre-listing home inspection before your lakefront property hits the market. It’s best to be upfront about any property or home issues with potential buyers, especially ones in the luxury market.
Bringing in a professional property inspector to do a thorough evaluation of your property will not only give you peace of mind. They could bring up some issues or needed repairs you weren’t aware of that you can fix before listing the property for sale.
You don’t want to go through the nightmare of moving along with the process with a potential buyer only to have them find out something down the line that makes them back out of the sale, forcing you to start the process all over.
Tip #5 Market With Outstanding Photography and Video Tours
Exceptional photography is vital for selling a home. Poor and lousy photos can easily make a beautiful property look unattractive and quick to pass on.
When selling lakefront property, your exterior shots and photos of the views are essential in your marketing process. The lake you live on should be the most vital part of your marketing, and your photos should make it look as enticing as possible.
Remember, you are not only selling a home, but also a lifestyle. Invest in a professional video tour with a voice-over to entice buyers and sell them on what is remarkable about your property and the lakefront lifestyle.
Tip #6 Spray for Bugs and Pests
Lakefront living or living near any kind of water, in general, can mean seeing a few bugs or mosquitoes in the house from time to time. These little critters can be harmless and just part of the lakefront experience, but some buyers may not be so keen.
You wouldn’t want a bug spotting to worry any of your potential buyers during a house tour and scaring them out of a potential sale. We suggest paying for pest control, at least while your house is on the market to keep bugs at bay.
It is essential to note that certain pest control products can drive bugs out of hiding. So make sure your first couple of sprays happens well before any house tours or showings.
Tip #7 Make the Dock and Shoreline as Accessible as Possible
When you have potential buyers over to look at your property, they will, without a doubt, want to take a walk down to the shoreline or the dock. Be sure to do all that you can to make it easy for your future residents to reach the lake.
Whether it’s weeding an overgrown path or fixing some steps to improve ease of access to the water, just be sure to clear the way to the shoreline and dock so that anyone viewing the property will have an easy time reaching the water.
Tip #8 Stage the Waterfront and Remove View Obstructions
Staging your house is vital when it comes to selling a home. Staging the lakefront is just as important and can add a lot of financial and emotional value to a potential buyer’s experience on your property.
If trees or foliage are obstructing all of the views of the water, then consider trimming them to make the water easier for your potential buyers to see and enjoy.
Sell that relaxing lakefront lifestyle by creating a space where your buyer can see themselves sitting down and relaxing, enjoying life. Add a bench swing or maybe even have your “toys” like a jet-ski or a canoe in full view right by the dock.
Don’t have any? Maybe consider renting or borrowing some from a neighbor.
Tip #9 Clean Your Windows
Give your potential buyers the best view possible by keeping the windows clean and sparkling. This is a simple thing you can do to improve the visibility of the lakefront.
Part of living by the lake means windows get dirty rather quickly. Before any potential buyers arrive, go through your home and clean your windows. Gleaming windows can help tremendously.
Tip #10 Market the Lakefront Lifestyle
You are not just selling a property, you are also selling a lifestyle. Remind your buyers of that and the easy access to exclusive fun-filled water activities (boating, jet-skiing, fishing, and swimming) and a relaxing private view to come home to after a long day of work.
Selling a Vision for Someone’s Future
As we said in the beginning, when it comes to a lakefront home, you are selling more than a home and a piece of property, but also the lakefront lifestyle. The key is knowing how to sell both your property and that lakefront lifestyle, and that will separate you from the rest.
We hope you found these ten tips helpful. Contact the Trillium Team today if you’re interested in putting your lakefront property up for sale!