Recently Retired or Empty Nester? You Can Buy A New Lake House

Nicole Leininger April 1, 2023

Living in a lakefront home is like sitting on the banks of an oasis – it offers a peaceful and tranquil escape from everyday life. For retirees or empty nesters, Lake Norman provides just that – a serene atmosphere with plenty of outdoor activities to enjoy.

Located in North Carolina, Lake Norman is one of the largest man-made lakes in the state and provides over 520 miles of shoreline for residents to explore. With its affordability, quality of life, access to healthcare facilities, and numerous outdoor recreational opportunities, this area is quickly becoming one of the top destinations for those looking to retire or downsize.

In this post, we’ll explore why Lake Norman is a great place to retire or downsize, and how to find the perfect lake home in this area. We’ll also touch on financing options for those who are considering purchasing a lake house.

Why Lake Norman is a Great Place to Retire or Downsize

For retirees looking for an affordable place to live, Lake Norman is a great option.

Affordability of Lake Homes

Lake Norman is a great place for retirees or empty nesters to live. The lakefront homes are very affordable, so almost anyone can buy one. There are many different houses to choose from and they all have different features and prices. So if you are retiring or have empty nest syndrome, you can find a house that fits your budget and still has all the features you want in a home.

Quality of Life

Another great thing about Lake Norman is that it offers a quality of life at an affordable price. This means that you can enjoy a comfortable lifestyle without having to spend too much money. The lakefront communities offer beautiful views of the lake, plenty of outdoor activities to enjoy, and easy access to healthcare facilities for those with empty nest syndrome or retiring.

Outdoor Activities

Outdoor activities such as fishing, boating, and swimming are all popular activities in Lake Norman. Many of the lakefront communities also have parks, trails, and other outdoor amenities that can be enjoyed.

In addition to the outdoor activities, Lake Norman also offers plenty of cultural and entertainment options such as museums, galleries, concerts, and festivals. All of these activities make Lake Norman a great place for retirees or empty nesters to enjoy their retirement years.

Healthcare Facilities and Access

As older adults, access to healthcare facilities is an important factor for retirement or downsizing. Lake Norman has several top-notch hospitals and medical centers that are easily accessible from the lakefront communities and provide quality care.

These facilities provide a range of services from primary care to specialized care. In addition, there are many pharmacies, urgent care centers, and other health-related businesses.

Finding the Perfect Lake Home in Lake Norman

For those looking for a peaceful and tranquil escape, finding the perfect lake home in Lake Norman is essential. Here are some tips on how to find the perfect lake house.

Lakefront Communities in Lake Norman

When looking for the perfect lake house, it’s important to consider the different lakefront communities in Lake Norman. From investing in luxury gated communities to more budget-friendly neighborhoods, there is something for everyone.

Take your time to explore the different communities and find the one that best fits your needs. Consider factors such as the amenities offered, proximity to shopping, restaurants, and healthcare facilities, as well as the overall atmosphere of the neighborhood.

Home Features to Consider for Retirees or Empty Nesters

When looking for a lake home, it’s important to consider the features that are most important to you.

For retirees or empty nesters, features such as a single-level floor plan and low-maintenance landscaping might be important. Other features to consider include a garage or carport for extra storage, a patio or deck for outdoor entertaining, and ample natural lighting. Also, consider features that make the home energy–efficient, such as extra insulation and double-paned windows.

Best Time to Buy a Lake Home in Lake Norman

The best time to buy a lake home in Lake Norman is now, during the off-season. This is typically from late fall to early spring, as there is less competition and more available homes.

Also, look for properties that need a little TLC, as these can be a great deal. Working with an experienced real estate agent can help you find the perfect home at the right price.

Working with a Real Estate Agent

Working with a real estate agent who is knowledgeable about the Lake Norman area can be beneficial. An experienced agent can help you find the perfect home and guide you through the process of purchasing it.

They can help you negotiate a good price and provide valuable advice on financing, taxes, and other aspects of the purchase.

Financing a Lake Home in Lake Norman

For those who are not able to pay cash for their lake home, there are financing options available. Here’s an overview of some of the most common options.

Options for Financing a Lake Home

Mortgage Loan: A mortgage loan is a long-term loan that is secured by the home. Generally, the borrower will make monthly payments to the lender for the duration of the loan.

Home Equity Loan: A home equity loan is a type of loan that uses the value of your home as collateral. The borrower will typically make a one-time lump sum payment and then make monthly payments over the life of the loan.

Jumbo Loans: Jumbo loans are designed for borrowers who need a large amount of money to purchase their homes. Generally, these loans require larger down payments and higher credit scores.

Pros and Cons of Paying Cash vs. Financing

Paying cash for a lake home has several advantages, such as no interest payments, no closing costs, and the freedom to move at any time.

However, it also has its drawbacks. Paying cash for a lake home may mean sacrificing other investments or having to liquidate assets.

Financing a lake home, on the other hand, can allow you to spread out the cost of ownership over time and may also offer tax advantages.

However, it is important to consider the high-interest rates on the loan and any other associated costs, as these can add up over time.

Importance of Budgeting for Monthly Expenses

It is important to budget for the monthly expenses associated with owning a lake home. These may include mortgage payments, insurance, property taxes, and maintenance costs.

You must also factor in the cost of utilities such as electricity, water, and gas, as well as any additional fees or services that you may need. Having a budget will help ensure that you can afford the costs of ownership.

Building a New Lake Home vs. Buying an Existing Home

When deciding between building a new lake home or buying an existing one, it is important to review the pros and cons of each option.

Pros and Cons of Building a New Home

When deciding between building a new lake home or buying an existing one, there are pros and cons to consider. Building Building a new home offers more control over the design design and features of the house as well well as potential savings in energy costs.

Buying an existing home is often less expensive than building a new one and may also come with fewer repairs and maintenance costs.

Factors to Consider When Deciding

When deciding between building a new lake home or buying an existing one, it is important to consider several factors. These include budget, time frame for completion, possible resale value, and the desired features of the home. It is also important to work with a qualified real estate agent and experienced builder to ensure your dreams become reality.

With the right guidance, you can make an informed decision that will bring you closer to your dream lake home.

Designing Your Dream Lake Home

Designing your dream lake home is an exciting opportunity to create a unique living space that is tailored to fit your lifestyle.

When designing your lake home, there are a variety of features and elements to consider. These include best design features for retirees or empty nesters, accessibility and aging-in-place considerations, outdoor recreation activities, entertainment options, and social opportunities.

Working with a Lake Home Builder

It is important to consult with a qualified lake home builder who can help you create the perfect lakefront home. With their expertise, you can make sure your dream lake home is can take into account your needs and wants when creating a design plan for your dream home.

Best Design Features for Retirees or Empty Nesters

When designing your lake home, it is important to consider the needs of retirees or empty nesters. This may include features such as an open floor plan, energy-efficient appliances, easy accessibility to all areas of the home, and safety features.

Accessibility and Aging in Place Considerations

When designing a lake home for aging in place, it is important to consider the need for access and safety. This may include features such as wider doorways and hallways, non-slip flooring, grab bars in the bathroom, and lever handles on doors.

Maintenance and Upkeep of a Lake Home

Owning a lake home requires regular maintenance and upkeep to ensure the integrity of the property.

Tips for Maintaining a Lake Home

To ensure the longevity of your lake home, there are several important steps to take. Regularly inspect the roof and exterior for damage, repair any plumbing or electrical issues, and clean gutters to help prevent water damage. Additionally, create a maintenance schedule for regular upkeep such as lawn care and landscaping.

Importance of Regular Inspections

It is important to schedule regular inspections of your lake home. This will help identify any potential problems before they become major issues. Additionally, it is important to inspect the lakefront property for any potential hazards such as erosion or flooding.

Making the Most of Lakefront Living

Living on a lakefront property offers many recreational and social opportunities.

Outdoor Recreation Activities

Living on a lakefront property provides access to a variety of outdoor activities such as fishing, boating, swimming, and hiking. Additionally, you can enjoy a variety of water sports like kayaking and paddleboarding.

Entertainment Options

The lakefront property lifestyle provides access to a variety of entertainment options. You can attend local concerts and festivals, take in a movie at the theater, or visit nearby attractions like museums and theme parks.

Social Opportunities

Living on a lakefront property also provides access to a range of social opportunities. You can join local clubs, attend community events, or explore the area with new friends. With so many Lake Norman events to attend, as a retiree or a person with empty nest syndrome, you are sure to find new friends and acquaintances.

Adjusting to Life in Lake Norman

Making the transition to retirement or empty nest living can be a challenge.

Tips for Adjusting to Retirement or Empty Nest Living

To help make the transition easier, here are a few tips to consider:

  • Make time for yourself and take enjoyable activities.
  • Connect with your community and take advantage of local events.
  • Plan for the future by making sure to save for retirement.
  • Stay active and create a fitness plan that works for you.
  • Stay connected with your friends and family by using technology such as video calls and social media.
  • Explore new hobbies and interests that you may have never tried before.

Meeting New Friends and Building a Community

Living on a lakefront property provides the opportunity to meet new people and create a sense of belonging. Here are a few tips for meeting new people:

  • Join local clubs or organizations.
  • Attend local events and activities.
  • Explore the area with a group of friends.
  • Take advantage of online meet-ups and social media groups.
  • Get to know your neighbors by introducing yourself or hosting a get-together.

By taking advantage of the many opportunities living on a lakefront property provides, retirees and empty nesters can make the transition to life in Lake Norman easier. With access to outdoor activities, entertainment options, and social opportunities, living on a lakefront property can be both rewarding and enjoyable.

With over 17 years of experience, Nicole Leininger is the Lake Norman real estate expert. Whether you are looking to buy or sell, Nicole is here to help. Contact her today for more information about real estate in Lake Norman!

Work With Nicole

Nicole prides herself on being prompt and efficient, keeping her customers informed during every step of the journey, and resolving problems quickly. Her customers often become her friends, and she treats everyone like family. Contact Nicole now!

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