|In Southeastern Michigan the bigger the lake the more the lake home will cost you. It is just that simple. You will find that Southeastern Michigan lake homes of similar sizes and amenities will vary widely in price according to the size of the lake.Lately clients and I have seen some 4000 square foot newer homes with all the latest amenities selling for $600,000 on small lakes. Then we looked at 2500 square foot homes on the chain of lakes or large Southeastern Michigan all sports lakes and they were $600,000 for a newer home with all the amenities.
To find a newer type home with open layouts, entertainment size kitchens with granite counter tops, large master bedroom suites, and 3 car garages is rare on South Eastern Michigan lakes. At least in the lower price ranges. I always shake my head when a new lakefront buyer calls me up and tells me that is what they want. Then they proceed to tell me they want to pay $400,000 to $500,000 for the lake home. Wait……THATS NOT GOING TO HAPPEN. There is a huge price mark up between a subdivision home and a home on the lake. I would estimate adding anywhere from $200-$400,000+ for the same home on a lake. Newer homes with the latest amenities on good waterfront is going to cost you. Then if you want some of the big all sports lakes like Cass Lake in West Bloomfield or Union Lake in West Bloomfield you are going to pay an even bigger mark up.
One of the keys to finding a nice home with the latest amenities is to do away with the age criteria. You may find an older Oakland County Lakefront home that has been totally updated. It may have that big beautiful kitchen that you love. It may have that master bedroom suites. I have seen gorgeous mini mansions on small ponds/lakes that were reasonably priced. The lakes were more of a kayak, swimming lake. Those homes had just a small markup over subdivision homes. However you have to add in the area too. If you are in Bloomfield, West Bloomfield or cities close to expressways (short drive times to Metro Detroit) then the lake prices will be higher. Good schools, low crime, and prestigious cities does drive up the prices of lake homes.
So when shopping for a Southeastern Michigan lake home decide what type of lake you like. Small quiet, or large active lake will determine the price. If you are looking for a big beautiful home on the water you will get more bang for your buck on a small lake. For more lake home tips go to my lake website
If you want to look for lake homes in Livingston County or on the chain of lakes go to Hamburg Township Lakes. It is a great area with quite a few lakes from small quite to large all sports lakes like Strawberry Lake.
Do not let somebody else get the best home deals. Join my Foreclosure VIP club and get the newest lakefront foreclosures and the newest lakefront listings emailed to you daily. Remember we give you a buyers bonus when you buy a home with us.
Call me today to get started on your dream home search. My cell is (248) 310-6239
If you are looking for a smaller home in the metro Detroit area you may want to know about Buying Metro Detroit HUD homes. These are FHA foreclosures that sometimes need work.