Should You Retire at the Lake? What to Know Before Investing In a Lake Home

Do you dream of mornings on the porch, sipping your coffee and overlooking the water? Spending the summer in the sun with your grandchildren? Watching sunsets every night from your boat?

The lake is 1 of the best places to retire. With its beautiful scenery, peaceful pace of life, and friendly communities, it’s no wonder that many people aim to spend their days relaxing by the water.

However, it’s important to invest your money early, so you can enjoy your dream home without financial burdens. Keep reading for our best tips on what to consider before buying a retirement home on the lake.

Learn more about how to stay worry-free at the lake.

Invest Early

The sooner you start investing and saving for your retirement, the more you’ll be able to enjoy your time after your career. If you start investing small amounts of money in your 30s and 40s, you’ll have a substantial savings fund by the time you get ready to retire.

If you’re investing later in life, try to cut back unnecessary costs for several years while you save and look for your dream home. Only buy the things you need, so you can fully enjoy your retirement at the lake

What Type of House Is the Right Investment For You?

Do you want to own a waterfront property or is a drive to the water fine with you? Should you buy a condo, townhouse, or build your own home?

Although waterfront properties are typically more expensive, they are usually great investments and often sell for much more than the original buying price. Condos and townhouses make great AirBnb and rental properties if you don’t plan to live at your lake house full time. This is a great way to earn passive income and increase your investment value. Building your own home allows you to design your home for your specific needs and ensures you won’t need to add additional renovations later in life. 

Find an Experienced Real Estate Agent

It’s important to find a real estate agent who is familiar with lakefront properties. They know the best areas for your preferences and price range, and can help you ask the right questions about owning a lake home. 

Buy at the Right Time

Choosing when to invest in a lake house can save you money and provide you with many more options. 

Most lake properties will become available in spring and summer. However, this is also when competition and prices are at their highest. Consider looking for a home in the fall when sellers are much more likely to make a deal and you can make the most of your investment. 

Other Expenses to Consider

There are many expenses that can add up when you’re looking to buy a home at the lake. Some imperative factors to consider are:

Costs Beyond Your Mortgage

A mortgage is not the only cost to consider when buying a lake home. Will you need new furniture for your space? Could your house need renovations? Will you need to rent a dock space or does it come with your house? Do you want to own a boat and water toys? Are there homeowners association fees in your desired community?

Don’t let your total cost shock you late in the process! Set a budget for these additional costs and decide which type of property is right for you accordingly.


Waterfront properties often require flood insurance and higher prices for wear-and-tear expenses. Make sure you evaluate how much your insurance will be costing you before you settle on a home. Learn more about how to maintain your property to minimize future costs


If you’re moving states to be at the lake, taxes are another important factor to consider. Will they be higher or lower than taxes in your current area?

Do some research on lakes you're interested in and the tax rates in each. 

Secure Your Happy Place

The lake is considered 1 of the best places to retire for a reason. It’s a safe haven and a happy place for people who enjoy their retirement there. We want to make sure it stays that way.

Many people are unaware of the danger of electric shock drowning at the lake. WaveLink monitors your dock and the surrounding water for dangerous electricity so you can keep your loved ones safe and secure. When it detects hazardous conditions, the WaveLink Hub alerts everyone on the dock and sends push alerts to your phone through the WaveLink App. 

Your retirement should be relaxing and filled with sun and time with your loved ones without worrying for their safety! 

Secure your swim area and reserve your Hub today.