When in the market for waterfront property, the first rule to know is that all rules are out the window! Literally! Evaluating a house or building lot based on “cost per square foot” or “cost per acre” just doesn’t work with waterfront property. Instead, property price is impacted by factors such as view, water depth and clarity, number of shoreline feet, whether or not a dock is allowed and the size of dock allowed, access to the property by water, shape of the lot, and neighborhood.
In general, waterfront property nestled in a cove is less expensive than a comparable property with a “big view”. Cove property, however, usually offers more privacy and more “calm water” for swimming. You need to decide what factors are important to you, and how much you’re willing to spend.
Restrictions play a big part in the price and use of a lot. Lake Wylie restrictions can be complicated considering that the jurisdiction of the lake falls under two states, three counties, eight cities or municipalities, as well as the federal Army Corps of Engineers and Duke Power. Depending on the area and jurisdiction, the buffer (required space between the lake and any building) may be 50’, 100’, or even 200’ from the 570 line.
Be careful not to make costly mistakes resulting from not knowing the lake or restrictions. For example, a lakefront home may have an outstanding view, but insufficient water frontage to meet minimum requirements for a dock. Or, a lot may be on a beautiful point with water on three sides, but because of set backs there may not enough room to build a house or install an adequate septic system. In another case, a property may be in an area of the lake that is shallow or has a shoal and difficult to maneuver when the water is lower than optimum level. Knowledge of these considerations is critical!
When buying or selling waterfront real estate, it is best to work with a real estate agent who specializes in lakefront property. An experienced waterfront agent will be familiar with the conditions in each area of the lake, will be very knowledgeable about Duke Power’s Shoreline restrictions, and will be able to guide you through each consideration unique to lake property. So when you’re ready, call in the specialist! Lake Wylie Waterfront Real Estate
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