I’m a Real Estate Agent: Buy Lakeside Homes in These 4 Cities To Be Rich in 10 Years
Written by
G. Brian Davis
Edited by
Rebekah Evans
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Mark Twain famously quipped “Buy land, they’re not making it anymore.” And nowhere is that more true than waterfront land. Scope out these cities with lakeside homes that could explode in value over the next 10 years.
Hoodsport, Washington
- Average Home Price: $359,672
Tourists and residents alike flock to Hoodsport for its abundant outdoor recreation including hiking, fishing, boating and scuba diving to see octopus and marine life. It offers easy access to Olympic National Park and the Hood Canal and sits right on Lake Cushman.
“Lake Cushman is beautiful, ranked No. 1 in Washington as the cleanest lake,” said Ledeana Strand, real estate broker behind Homes by Strand. “It has absolutely gorgeous lakefront properties, homes are selling quickly and for now they remain affordable because new homes overlooking the lake are still being built.”
Michigan City, Indiana
- Average Home Price: $188,045
At roughly half the average home price nationwide, Michigan City offers a steal for lakefront living. It blends small-town charm with plenty of city amenities such as a thriving arts scene.
Kacia Snyder, agent and real estate advisor for Jameson Sotheby’s, raved about the location nestled between Chicago and other popular resort destinations. “Michigan City is rapidly transforming from industrial gateway to vacation getaway with a host of new developments, restaurants, retail and a newly upgraded train line, which has shortened the commute to downtown Chicago to less than an hour,” Snyder added.
Lake Lanier, Georgia
- Average Home Price: $322,538 (Oakwood)
Lake Lanier sits less than an hour from downtown Atlanta, but you’d never know it. Mild weather makes Lake Lanier a four-season destination, with its endless hiking trails, water sports and charmingly unique dotting of towns spread along the lakefront.
“The buyer’s premium for lake access today seems modest compared to the demand curve we are currently seeing, particularly as more workers go remote for a lifestyle-driven life,” explained Evan Harlow, real estate agent at Maui Elite Property.
Plattsburgh, New York
- Average Home Price: $243,201
Located on Lake Champlain, Plattsburgh remains affordable at 34% below the national home price average. It sits across the lake from Burlington, Vermont and is surrounded on its other side by the Adirondack Mountains. That gives it the perfect combination of water activities in the warm months, hiking in the shoulder seasons and skiing at nearby Beartown, Titus Mountain and Whiteface Mountain in the winter.
Dr. J. Ryan Smolarz, commercial real estate investor and host of The Medicine and Money Show, loves Lake Champlain. “Last winter, New York’s lake region around Lake Champlain saw a 24% surge in its market value. The steady interest from out-of-state buyers and the rise in high-end listings, indicates stable market growth and rising demand for lakeside homes,” he said.
Editor’s note: average home prices were source from Zillow.
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