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Price Per Foot for Lakefront Property

michiganlakefrontpriceSometimes when purchasing unimproved waterfront property, a comparison is made between two parcels by comparing the price per foot of water frontage. I always hesitate to compare property that way. Here’s why.

I believe no two waterfront properties are the same. There are always differences.  Even if the lots appear to be similar, the views from the properties can be very different. Consider an obstructed view vs. an unobstructed view, or a partially obstructed view. How important is a sunset or sunrise view?  Are you a highlander or lowlander?

The body of water is important. Is it all sports? Fishing lake only? Do the water levels vary during the season? Is it a wooded site? How does the land lay? Does the land roll? Is it a walkout site? What is the beach like, sandy swimming beach or undeveloped with potential?  Does it have a marl bottom?

Access to the site is also important. Is it on a paved road, gravel, seasonal road, private road vs. public road? What utilities are available? Gas, electric, water, septic or sewer?

The water table in the land can vary greatly even in a short distance, as well as soil conditions, resulting in a different type of septic system required.

What are the building restrictions in the area? Are there lake association requirements? What are the neighboring properties like?

The list of questions can go on and on. When comparing two different waterfront properties, there are many factors to consider. No two properties are exactly alike!

Written by Dave.