Buying on Winnipesaukee: An emotional decision or a logical one?

[arttwood]

For the last several years, I've wanted to buy a waterfront lake home and the stars have aligned that now make that possible. I've got 3 kids (the oldest headed off to college next year, the youngest headed to middle school) and I've romanticized the wonderful memories and family time together -- in those brief years remaining before the kids head off.

So, from an 'emotional' point of view, I think buying a house on the lake is a 'no brainer' -- it ticks a lot of boxes and is something I think we would really enjoy.

However, when I think about the logic of this decision -- the significant $$ paid at the waterfront for a relatively modest home -- gives me pause. To make the "logic" side of this equation more challenging, there is such a short season here in NH. Can one really justify this expense for a property that is primarily used* for 12 weeks a year? And even then, as I work in Southern NH, my time at the lake would be limited to weekends. . . .it just seems a little crazy.

So, when I reflect on the logic of this decision -- it doesn't seem like a very smart one to me! Perhaps some Winni veterans and waterfront homeowners can shed some wisdom!

Thanks.

*My usage of the property in winter would be very limited, as I'm not an ice-fishing/snowmobile enthusiast.

[wifi]

Seems its only the logical side that needs convincing.
- A retirement home
- Retreat when you just want to get away
- Retreat when you have to get out of the city, for what ever reason
- Prices of under the $1M have come down significantly, at least around
me, take advantage of it
- People at work will be jealous, wait that is a negative
- You will get to know the area better to maybe slide into your ideal

.....


Just do it

[jetskier]

One consideration is that the lakes region is more than just a summer tourist location. It is really four seasons (ok - three if we discount mud season ).

We have owned in the region for about 15 years and come up regularly.

• Fall in the lakes region is spectacular and boating season extends well into October.
• Winter offers skiing, snowshoeing, ice skating, snowmobiling, pond hockey tournament, sled dog races, Junior A & B hockey etc...
• Oh yes, summers are pretty good too. :-)

When the day is done, it really boils down to a lifestyle decision. I don't try to rationalize it fiscally; I know that coming up here is great for quality of life and likely length of life (blood pressure). So, if you have the means, it is an amazing region.

Jetskier

[8gv]

There are a couple of things that came to mind as I read your post.

First, there is a time in a family's life for things like a sleep aboard boat, an airplane or a beach/lake house. Then things change.

The ages of the kids, now and in the future, will affect your use of the property. Consider what activities will compete with your family time at the lake. Will you and the Mrs. be able to enjoy it after the kids' visits diminish? Do you want to bring a lake house into the family with the hope of passing it down to subsequent generations?

Second, beware of the steak rule!

Eating PBJ's for months when I was first married left me longing for a juicy steak. My mind's image of that tasty steak grew to be fantastic. When I finally scraped up enough change to buy one, the steak couldn't possibly meet my expectations. I was disappointed.

There's another thing that might change when you drop the big bucks on a lake house. Money and/or feeling guilty for "neglecting" the place may have you avoiding all other vacation venues.

I'm really not trying to dissuade you from purchasing and I'll bet there will be plenty of other input for you here. Good luck in whatever you do.

[Rich]

Or do what I did, buy a boat large enough to weekend on, and spend every weekend on the water. There's nothing more 'waterfront' than being on a boat!

[DesertDweller]

I went through what you did a few years ago. My personal opinion is that from a purely monetary standpoint I don't think the math on buying a second home pencil's out very well unless you use it a lot. I am a CPA for a living and this is the part I struggled with the most. The part that does work out very well is the beauty of the area and my absolute enjoyment and relaxation I get each and every time I come up. It's really nice not having to drag all of your crap around when you have your own place and you can leave all of your personal effects at your own place. The other part that is really nice is that my parents and other family members get to enjoy it as well. Last but not least is that I have made a lot of really nice friends along the way. My advice would be to make sure you know where you want to buy and consider renting in that area to make sure. We rented for 8 years or so before we finally pulled the trigger. My other advice to you would be to be patient in the buying process. My personal experience is that a lot of sellers think their homes are worth a lot more than they are. We made a few offers on homes that ultimately sold for less than we offered.

[Greene's Basin Girl]

If you work in Southern NH then you could commute from the Lakes Region. Have you ever thought of selling your home you reside in now and moving permanently to the lake. Many of us live here year round.

[upthesaukee]

My folks lived in Reading MA, and in the summer during the week they would get out of work, drive up to the lake, make a sandwich or get some takeout, jump on the boat and get out on the lake. If it was warm, maybe even take a dip, and then after it got dark, head on home. It was about an hour and 40 minutes each way. For them, the time traveling was a time for conversation, and then they were at the lake, and enjoyed their time up here, even if it was only a couple of hours.

I agree with the poster about living in Southern NH...it is a short ride up to the lake for an evening here and there.

On the other hand, if you do not feel that you would not get full use out of the lake house, then don't get one. Instead, rent one for a couple of weeks or a month (commute to work as necessary) and see if it makes sense to buy.

Good luck with your decision.

[Island Girl]

My parents built a little house on a lake in MA beginning when I was 6 years old. We left for that house the day school got out and came home the day before school started. We lived an hour away when I was little, then about half an hour away when I was a teenager.

The little house on the lake gets rented out each winter for 9-10 months, often to local teachers or other seasonal people. That always paid for the house and its upkeep.

My dad commuted the extra time to work and took two weeks off in the middle of the summer. We were lucky as my Mom did not work outside the house.

Growing up on the water was the most wonderful way to live. We played in the water, fished, took the boat out and explored the woods all summer long. We had summer friends who also lived there. Cousins visited each weekend which was great fun. When my dad came home he took us waterskiing. I treasure those memories. I also learned a lot since my Dad was building the house while we lived there.

We still have that house on the little lake and my grandchildren are now collecting memories with their cousins.

I have my own place on an island in Winnipesaukee. Growing up with boats... having my own just seemed a natural transition in my later life. It is my little piece of heaven and worth the money. It is very modest but provides as beautiful scenery as a multi million dollar property.

We rented on Winnipesaukee for two weeks in 1999 and immediately signed up to rent the house for two weeks the following summer. While riding around we saw this little camp for sale and moved in 30 days later. Best decision ever!!!

Good Luck with your decision

IG

[winnipiseogee]

I bought a house on winni about a decade ago before getting married or having kids. At the time (2003) I could rent it for most of the summer and pay almost all of the expenses. I used the house personally one week in the summer then a lot in June/Sept and the winter. At that time it made a lot of sense.

Then I got married and we moved here year round..... I did the math and there was no way I could justify it. I calculated it was costing me $6,000 a month all in to live on the water (vs. an off the water house) and there was just too many other things I could be doing with that money.

We had kids about 4 years ago and I really started to miss being on the lake. Without kids a boat and a slip was good enough but now we wanted easier more convenient access.

For us the right choice was a house in a water access community that had decent views of the water (we are about 150 feet from the lake). It cost us about 1/4 what a non-access type of community would and the only loss is we share the beach. And actually the community has a much nicer beach than we could have possibly afforded if we bought our own private beach.

Because my wife and I are both self employed its easier to take a sunny wednesday off and work on a saturday when its too crowded. If we absolutely had to have all our friends up for a 4th of July BBQ it would be problematic.

Its still not easily justified financially but its a lot better than a straight up "house on the lake".

Oh and what I really wanted was an island place but the boss said no way no how!

[thinkxingu]

As mentioned above, second homes are, in general, not a logical financial choice. The associated costs--purchase, maintenance, taxes, etc.--outweigh what it would cost to rent, especially if not used often.

That being said, I have discovered that very few of the best things in life are logical.

My wife and I purchased a small camp in an association last year which stretched our teacher budget, but our kids' best memories are from last summer and, at 6:20 this morning, are already planning on taking their butterfly nets and fishing rods up for opening weekend next week.

If you can afford it without putting too much strain on your finances, and your confident your kids are in a place that they'd love being there, go on and start what could be a lifetime of otherwise undiscovered enjoyment.

Godspeed, fellow romantic.

[secondcurve]

Originally Posted by arttwood

For the last several years, I've wanted to buy a waterfront lake home and the stars have aligned that now make that possible. I've got 3 kids (the oldest headed off to college next year, the youngest headed to middle school) and I've romanticized the wonderful memories and family time together -- in those brief years remaining before the kids head off.

So, from an 'emotional' point of view, I think buying a house on the lake is a 'no brainer' -- it ticks a lot of boxes and is something I think we would really enjoy.

However, when I think about the logic of this decision -- the significant $$ paid at the waterfront for a relatively modest home -- gives me pause. To make the "logic" side of this equation more challenging, there is such a short season here in NH. Can one really justify this expense for a property that is primarily used* for 12 weeks a year? And even then, as I work in Southern NH, my time at the lake would be limited to weekends. . . .it just seems a little crazy.

So, when I reflect on the logic of this decision -- it doesn't seem like a very smart one to me! Perhaps some Winni veterans and waterfront homeowners can shed some wisdom!

Thanks.

*My usage of the property in winter would be very limited, as I'm not an ice-fishing/snowmobile enthusiast.

Have you ever seen been to a funeral where there was a u-haul attached to the hearse?

[dickiej]

If you think with your head, you can talk yourself into or out of anything. If you think with your heart, you will always do what makes you happy. Life is short.....do what your heart tells you and be happy!

[smith point boater]

We've vacationed up here all our lives and owned for over 17 yrs -. We moved up here permanently a year ago (this week actually) It probably would not have happened if we hadn't owned the last 15. The money will probably never make absolute sense but we have a lifetime of memories and watching our family grow up enjoying life at the lake - summer, fall, winter and spring.

Life is short - this is God's country - Go for it

[Leoskeys]

Best decision we made was buying a house there. We bought in West Alton three years ago. Primary home is Manchester, NH. We boat from May to October every weekend, and many "long weekends". We also go up most weekends from Janiary through March to ski Gunstock. So i'd say we spend 70% of our weekends there. Other than April and November, we spend a good part of the other 10 months visiting.
My wife says i finally can "turn off work mode" when we arrive to the Lake. I'm more "present" with the kids/wife.
When you have a place there, you realize how many activities in the "off season" to enjoy. Pond Hockey Classic, Planes landing on lake in Alton Bay, Winter Carnivals, etc....
We live one hour from our lake house, so we'll do many 24 hour trips, but most are 48 or 72 hour trips.
A few financial advantages. Right now, you'd habe one of the lowest interest rates on a mortgage you'll ever see! If we needed to, We could also rent it 14 nights a year tax-free which would pay almost all of our taxes.
This summer i'll be driving up Thursday night with the family, working from home Friday, and driving back to Manchester Monday mornings. So four nights there each week!
You'll find ways to use it more than you think!!!

[tis]

Financially given the prices to live on the lake and the taxes you pay, it is probably not worth it. But if it is in your blood it is something you never want to give up. There is nothing like it, but you have to have that feeling. We couldn't imagine not living on the lake!!

[winnipiseogee]

One observation I've made living up here full time.

If the house is $3.7 million, 6000sqft, 5 beds, 7 baths its seems to get used about 3 or 4 weeks a year.

If the house is $529k, 732sqft, 1 legal bedroom (plus 2 illegal ones), one 3/4 bath, water still pulled from the lake, interior original to 1947, questionable plumbing and barely insulated the damn thing seems to get used just about every weekend and most every week in the summer.

Based on my observations the analysis would seem to indicate the less expensive the house the better the value proposition!!!!!!

[Happy Gourmand]

Nope, doesn't make any sense at all. Too expensive....another mortgage...another tax bill....all kinds of maintenance....another yard to maintain...too far away....too many visitors.... and of course you'll need a boat.... just hole in the water that you'll throw too much money into...not to mention boat maintenance...expensive gas...slip fees...winterization fees....storage fees....etc...etc...nope...makes no sense at all...just ask anybody who has a second home on the lake.
I'll be headed up this weekend to bring me boat in for prelaunch maintenance and to open the house for the summer....let's get ice out and let the summer begin!!

[jetlag100]

Times a tickn'....just do what your gut tells you to do! There's nothing that will replace lost time....get moving!

[stynx55]

My wife and I bought a small house in a community with water access. From my driveway to the boat ramps exactly a mile. I work weekends and my wife works from home. I have no regrets about the our purchase. I rode 1600 miles this winter on my snowmobile right from my backyard, we just got a wave runner and look forward to the lake in summer. We golf and are near several courses. If you buy the house there's plenty of things to do all year.

[MeredithMan]

One key element is to make sure that everyone in the family is on board with this decision. If your kids and spouse are not as committed as you, then there is potential for conflict ahead.

Also, you'll need to think through whether this will be an "investment property" that you occasionally use yourselves, or will this be "your 2nd home". Two totally different things. One you are emotionally attached to and one you are not.

You may also want to think through your lifestyle. Does your family like to travel and take exotic vacations? You may have a compromise there once you have the 2nd home. In our case, we have no interest in traveling and spend all our vaca time at the lake. We have friends who love to travel and couldn't imagine "being chained" to a 2nd home.

And of course, the financial piece is a big one. You don't want to make this purchase and then be "house poor". You also don't want to be ruined if things go to heck and you lose your job or have a medical catastrophe.

I am biased in my view from having spent 40+ years on the lake, but if you can afford it and the family is on board, do it!!

[ishoot308]

It's also a GREAT reason to buy a boat!!

What are you waiting for!!

Good luck!

Dan

[Merrymeeting]

More than 40 years ago, my parents struggled with your question, realized that the logic didn’t make any sense at all, given 4 small children, mortgage, upcoming college tuitions, etc. They went ahead and did it anyway. My dad argued that it would be the place that kept the family together.

I spent my teens, working with my dad and siblings, building and finishing the house, learning skills and things that I would do and enjoy the rest of my life. I also worked on the lake every summer into my twenties, solidifying my love of being here.

My siblings and I grew older, started having children ourselves, and went our various ways as life and the demands of work and family pulled us in different directions.

But despite living in 3 different states, we all returned to our parent’s lake house almost every summer weekend to enjoy the lake and mountains. During nights around the campfire, siblings and in-laws became some of our best friends, while the cousins and other friends played kick-the-can, flashlight tag, and enjoyed the company of their grandparents, uncles, aunts, and extended family of lake friends.

Eventually, our parents’ house was creaking at the seams as too many of us wanted to share the same precious place. My wife and I made the same agonizing analysis as you are making, and our parents had made, and despite a financial plan that was on the edge, we bought our own place on the same lake.

As Island Girl described, I experienced the joy of watching my kids live summers in t-shirts and bathing suits, making lifelong friends on the lake, whose weddings they now attend as ushers and attendants. I refer to it as their Mayberry RFD summers. Two of my siblings now also have places of their own here.

I was blessed to be able to move here full-time a few years ago, and I’m enjoying the view of life that my parents had when they started.

Did it make sense financially? Absolutely not. But quality of life? Priceless!

I just happy that my dad lived long enough to see and experience how much his vision has kept the family together.

[SAB1]

Like above, its all in the heart not the brain. If you can swing it financially (including getting those three kids thru college) it is a great experience especially if you want to live there in retirement. I think you would end up spending well over 12 weeks there. The lake is great April-October and if you like winter all the better. Each month brings changes from ice out, to pure peace in May/June (except for the black flies), the summer chaos when vacationers arrive and lake floods with watercraft, to pure peace in September/October again when the majority of people are gone. I have never regretted it. It is however a good deal of work owning two homes and maintaining them. There are plenty of weekends when I get back to work on Monday having worked my butt off all weekend and had little time to relax. Good outweighs the bad though...........

[boat_guy64]

Buying a lake house will ruin your life. Ten years ago we purchased a lake house in Meredith. That first summer was kind of weird. New house, new friends, new place to put the boat, lots of odds and ends jobs and the people at the hardware store knew me by name and knew my phone number for their rewards program. What did I get myself into? In previous years, I valeted my boat and came and went in the same day.

By the end of the summer, my wife had started to stretch her weekends and take the kids to the lake on Thursday. Then, she decided with her new found friends that she was going to abandon me and take the kids and live at the lake the entire next summer.

The next summer, three hours after the kids got off of the bus, they were at the lake….and I was living alone.

The kids made about 10 new friends (we live in a community in Meredith) and can you believe this….they took off with their friends every day. They went fishing, swimming, played games and only came back when they got hungry. My wife and her friends decided it was okay to have daily picnics on the beach and plan fun things for the kids…..and I was living alone.

Then, the wife and her friends decided that the boat was too much work for them to uncover and manage, so they decided that they needed jetskis. Then came the jetski tubing, knee boards and wakeboarding with my wife and her friends….and I was living alone.

But alas, weekends and vacations came I was reunited with these strangers. They had the gall to beg me to take them out on the boat and do things with them all weekend. They wanted me to go tubing, to go swimming and play games with the other dads who were… living alone during the week.

That summer came to a close and my wife had the nerve to tell me she and her friends….they were going to do the same thing next year. (and for the next 8 years and counting)

The following winter, we walked down to the lake and saw 10 snowmobiles crazily go whipping by us. What a bunch of crazies. I’m not even going to go into how I ended up buying 2 of them and my son and I spent every winter weekend for the next 8 years and counting riding all over NH. (and yes, we are now on snowmobile 4 and 5)

Now, my kids are in college and I’m thinking that I’m home free. Peace at last. Do you know what those kids did? They got jobs in the lakes region and spend every darn summer at MY lakehouse.

So, buying a lakehouse will ruin your life. You’ll crave for Friday to come, you’ll save up every minute of vacation to spend your time there and you spend lots of extra time planning on how you’ll make it your permanent home. You’ll get addicted to watching for ice out every year, if you become a snowmobiler, you’ll be begging for snow like when you were a little kid. You’ll never get rid of your kids. From what I've seen in my neighborhood, the older kids and grandkids show up almost every weekend. You’ll never guess the things they do when they get to the lake…

[CaptT820]

Anything you buy cannot be described as a logical purchase unless it does one of two things for you. It needs to make you money and appreciate, so you can sell it for a profit or it needs to provide a value to you over its lifetime that warrants the price you paid for it.

The first value is easy to assess, if you buy something to make money on and it appreciates, you sell it at a profit and move to the next object.

The second value is where the emotion kicks in. Emotion, Value, and Logistics usually don't end up in the same place with one another. People buy things and make decisions with strong emotion that they would never do if there was no emotion involved.

Buying a car is a great example. Worst decision we can all make, because it is guaranteed to depreciate as soon as you drive it off the lot (assuming it is not a collector car, rarity, etc.). Unfortunately we all need a car (or most of us do) to get to work, school, etc. We need a first home. We don't NEED a second home, lake home, mountain home.

When buying any primary first home the best real estate agents will have you consider three factors: what do you absolutely need, what do you want, and price. Where the triple point is of these three things is the box you need to stay in to stay disciplined on such a large financial decision. When you get out of the box, is when emotion gets involved. A second home is a want, not a need, so it becomes an illogical decision and an emotional one.

To enjoy a lake home, take the finances out of the logical part of the argument. It is impossible to financially quantify downtime, relaxing, and whatever non physical aspects go into your decision. Also remember that real estate is one of the few things you can buy that will actually appreciate over the long run.

My wife and I have been looking for island property for nearly three years now and have sacrificed a lot of sweat equity in our house to allow the purchase of a second one. In the end when we do settle on a property, it'll be all worth it. We are both scientists and don't make any illogical decisions if we can help it, but for us it came down to a quality of life factor that is monetarily impossible to measure over a lifetime.

[SAMIAM]

Originally Posted by dickiej

If you think with your head, you can talk yourself into or out of anything. If you think with your heart, you will always do what makes you happy. Life is short.....do what your heart tells you and be happy!

I second that......keep in mind that a lake house is money in the bank. If, for some reason, you decide it's not for you, you could sell out.

[Anvil]

I was in your shoes about 7 years ago. Did I need a second home...of course not. Did I want to give my family the same memories that I had growing up...of course I did. It was the best decision that I've made. If making life time memories and improving your quality of life is important, then just do it. You will not be disappointed. Logic is great if you're solving a math problem but not when it comes to a second home. Go with your gut...you'll be glad you did!

[Accipiter290]

Originally Posted by arttwood

Can one really justify this expense for a property that is primarily used* for 12 weeks a year?

12 weeks is an enormous underestimate on available lake time. My family is on an island so when the lake gets locked up we can no longer use it but even despite that, our season has never started later than May 1st (usually mid-April and sometimes before ice out is even declared) and stretches into mid November. Far more than the 12 weeks you've allotted yourself. If this makes you feel better about getting a place on the lake, then my work here is done

[BroadHopper]

You will be about an hour from the White Mountains, an hour from the ocean, and about an hour plus to Bean Town. So its a good centrally located spot to enjoy the 4 seasons. If you like being outdoors year round.

I move from the Winnipesaukee to Winnisquam in the late 90's and save tons of money in taxes and RE. Yet I can walk to Lakeport where the dock is. Year round is economical but to use the home on a seasonable basis will be expensive.

Some folks rent out their homes when they are not using it. Tried the landlord route and I am not cut out for it.

Health care is questionable. Concord has an excellent hospital and CMC in Manchester has a great reputation for cardiac care. Hitchcock in Lebanon has excellent cancer care.

As for shopping, Amazon is the way to go and the local UPS hires a good number of people. Concord has some good shops, but if I can I will always buy local.

Lakes Region has more than its share of fine restaurants, if that is your pastime. The farmers market do a good job in providing local products.

It is not for everyone, but if you enjoy laying back and can put up with the tourist season, the fall, winter and spring is a treat!

[dpg]

Potentially three kids going to college in the future and your contemplating a water front home? Boy the stars have really aligned for you.

[AC2717]

Originally Posted by dpg

Potentially three kids going to college in the future and your contemplating a water front home? Boy the stars have really aligned for you.

honestly it is something to think about, but their financials aren't our biz, I have a child is the same situation but still purchased and made it work because of pulling and working other financial strings and extra work

[dpg]

Originally Posted by AC2717

honestly it is something to think about, but their financials aren't our biz, I have a child is the same situation but still purchased and made it work because of pulling and working other financial strings and extra work

Yup your right mine graduates 5/16 (been done since Christmas break.) She walks away from school finished with a loan that I believe is under $7,000 the wife and I borrowed nothing. Man was that a miserable monthly payment for the last 3.8 years!

[LIforrelaxin]

Arttwood here is my $.02 worth,

Just do it... yep the season is short but you will find it very enjoyable.... does it start to run you life yes it does just see the reply from boat_Guy64....

Now that I look back on the last 20 years since my parents took the leap I see the following...

- some years you use the place more then others
- while friends and co-workers get to take vacations that last a week mine start every weekend
- everyone around me knows when I am not spending enough time at the lake because I become grumpy... this might be a negative, but at least people know what to tell me to go do...
- I start projects at the lake and enjoy doing them, they seem less like work, and more like fun...

Anyways I could go on.... just go do it is the bottom line.

[BroadHopper]

Three daughters through college on the average of $30,000 each in students loans. I'm still paying for half!

And don't forget three weddings! Still paying for the last one!

[Pricestavern]

No need for logic - just do it. As mentioned in many posts above, it's expensive, time consuming, hard work, your summer plans will pretty much be spoken for, you'll end up buying a boat (or two) and have even more expenses and work to deal with.

I can't think of a better thing my wife and I have done than to buy our little cabin on Rattlesnake. I'll forfeit my home and live in a trailer if I must, but I'll never give up my cabin.

[Bear Islander]

It's hard for me to imagine someone being able to swing a lakefront home financially, and not doing so.

I know two people that could have bought in years ago and didn't. They are still kicking themselves.

I know a great many people that have lakefront homes. None of them has ever said they regretted it.

[Flylady]

Not surprising that most of the members here love the Lakes Region lifestyle! Your real decision should be made from your heart and what gives you joy!

I decided 12 years ago that a few weeks a year in the short run was better than no place in the long run. I had not been back to the Lakes region since 1984! But once I began planning for the long run and retirement it was a no brainer. I rented out the place in the summer (except when I visited for 2 weeks vacation).
Retired a year ago and spent 5 months there last year and counting down the days until I get back there. Yes a very long commute, but worth it. The added bonus is my children and granddaughter look forward to visiting from CA. every summer......

[JasonG]

Simple. Can you afford it with no financial problems?
If No, dont buy.
If Yes, why question it? Go for it.

[BroadHopper]

Many shorefront owners rent during prime season and enjoy their property off season. That way most people can afford lake front property.

[Mr. V]

It seems to me that if you live year round in a lakefront home, might that not make it seem a bit less "special" than it was when you only vacationed lakeside?

I like visiting the lake but wouldn't want to live on it year round: cold, windy, isolated.

Other travel / vacation options abound: I'd never put all my eggs in one basket.

[goldengirl]

We've owned on the lake for 25 years. Started with a condo and then bought a waterfront home. It's definitely a hefty mortgage and we don't seem to travel other places especially in the summer. But I wouldn't trade our time on the lake for anything. It's a special feeling you can't describe. It becomes part of your soul.
We have more memories with family and friends at the lake than at our primary home. Everyone wants to come. And even when your kids go through different phases of life like college and high school sports they still want to come and bring their friends. I just can't wait for ice out and mud season to pass so we can enjoy our little piece of heaven.
Best of luck with your choice!

[arttwood]

All,

Thank you very much for the input. Perhaps not surprisingly, you all encouraged me to take the plunge and 'just do it' -- as you all have done yourselves. I was inspired by your stories and took note of your guidance and caution.

I hope to see you out on the lake this summer!

[Dad sold the C * C]

Ok, you made it past the emotional decision: buy a lake house, it will be fun. I can't take the $$ with me
Now for the Logical decision: where?, single lot or community, water depth, town taxes.
Or...... Is it

OK you made it past the Logical decision: it's for family time with the kids and a place to relax.
Now for the Emotional decision: Great house, lots of bedrooms, awesome waterfront , what? Needs a septic, oh we can do that. What?, needs a roof, I can teach the boys how to do that. What?, Taxes are WHAT

Good luck with your decision, I agree with other's that renting is a great way to test your options and try different locations. Or just start asking people you know for opinions if you want to move faster. It's a big investment, I sort of looked for 2+ years, then our situation changed and found a place after a few months, but from renting I knew where I wanted to be on the lake and was willing to wait.

This will be our second summer, can't wait to go turn the water on

[Donzi Minx]

All I can say is the Lakes Region imbues a sense of restoration for me to this day.
As someone who had family property right on the water, 40 foot dock, boathouse, two car detached garage in West Alton since 1954 you will never loose the fabulous memories that Winni bestows.
My uncles trophy wife did not like what I always referred to as "paradise" so she convinced him to not sell, but auction off the property, gone in 15 minutes, October of 2005.
To use the lyrics, "you don't know what you got 'til its gone" rings so true. A chunk of my heart disappeared on that raw October morning. Painful, but happy to see other people using the property when I cruise by in the boat. I could not recommend more fervently to immerse yourself in the best location of New England. Do it!

[MGWillia]

Like many, I was a summer person in my youth. Living here was a dream. NOW, it's a dream come true. My work took me around the world, but I have never been anywhere that affects my soul like this place. Though we have only lived here full time for a couple of months now, I can't express the peace that has been with us since the day we arrived. Emotional? You bet.. Bad thing? I don't think so..

[Nedlam]

I am new to the big lake...is it "ice out" yet. I want to bring my boat up on Saturday (4/25). Thank you.

[dpg]

"Ice out" will be declared (rather announced) on this site. I don't believe it has been yet.

[Swilson]

Love that!

Originally Posted by dickiej

If you think with your head, you can talk yourself into or out of anything. If you think with your heart, you will always do what makes you happy. Life is short.....do what your heart tells you and be happy!

[TiltonBB]

As others have said: If you can afford it, do it. It will never make financial sense unless real estate appreciation comes back in a big way. It will always be less expensive to support one home than two.

I have been on the lake in some way every summer since 1970. First trailering, then renting a slip at MVYC, then buying a slip, then getting a bigger boat. Each year we spent more time at the lake and it got to a point where every Friday I couldn't wait to leave the office and make the 100 mile drive to the boat. It's addictive!

While crusing on the lake I looked at all of the waterfront homes, with jealousy, and wondered how someone could ever get there. Finally in 2003 the right opportunity to buy came along and I have absolutely no regrets. You will see more of your family spending longer hours visiting, but that is a good thing.

I have now reached "that age" where I can spend the whole summer there. Someone in an earlier post said, if you are there all of time you will appreciate it less. It does become "normal" but still, 12 years later, I look out the windows at the lake and the mountains, several times a day, and think "I can't believe I am here".

Just do it! There are no luggage racks on a hearse!

[Orion]

Originally Posted by TiltonBB

As others have said: If you can afford it, do it. It will never make financial sense unless real estate appreciation comes back in a big way. It will always be less expensive to support one home than two.

I have been on the lake in some way every summer since 1970. First trailering, then renting a slip at MVYC, then buying a slip, then getting a bigger boat. Each year we spent more time at the lake and it got to a point where every Friday I couldn't wait to leave the office and make the 100 mile drive to the boat. It's addictive!

While crusing on the lake I looked at all of the waterfront homes, with jealousy, and wondered how someone could ever get there. Finally in 2003 the right opportunity to buy came along and I have absolutely no regrets. You will see more of your family spending longer hours visiting, but that is a good thing.

I have now reached "that age" where I can spend the whole summer there. Someone in an earlier post said, if you are there all of time you will appreciate it less. It does become "normal" but still, 12 years later, I look out the windows at the lake and the mountains, several times a day, and think "I can't believe I am here".

Just do it! There are no luggage racks on a hearse!

I've had just about the exact same experience, feelings, and end result.

One added factor......waterfront property, being a limited quantity, can be part of a retirement nest egg and a form of investment diversification.

[Diver Vince]

Everyone of us has a finite supply of one thing. TIME..Only you can decide how you really want to spend it. Quality of life to me is precious.

[TiltonBB]

Originally Posted by Orion

I've had just about the exact same experience, feelings, and end result.

One added factor......waterfront property, being a limited quantity, can be part of a retirement nest egg and a form of investment diversification.

After owning this great family place it is my hope to leave the property to the next generation who enjoy it very much now. I know that has worked for many families that have been on the lake for many generations.

I am also aware that the increase in taxes, maintenance, and utility costs has sometimes precluded families from continuing to own and pass down waterfront property to the next generation. It is really sad to see when that happens.

[Rattlesnake Gal]

Atwood, have you considered an island property? You would definitely get a lot more bang for your buck! We took the plunge back in 2003, a few years before our first headed to college. We feel our purchase was one of the best things we have ever done for our family. The adventure was incredible and the memories are priceless. If you haven't found an agent, I highly recommend Nancy and Doug DePorter. They are island and Lakes Region specialists. Best of luck with your purchase. What an exciting time!!!

[dxd]

Like most of the best things in life, you should not try to rationalize this one. Most of the people would not get married or have kids if they weighted pros and cons rationally, but for most of us, being married and bringing up kids is what life is all about. I fell in love with the lake after we rented a cabin one year and bought the house on the lake the following year. It has been 4 or 5 years now and we have not regretted it a bit. Coming up to the house is my kids favorite thing to do. They brought a lot of their friends along and they were having a blast. When we know we will not use the house we rent it out and it pays for most of the taxes and upkeep. We enjoy it the winters too, since we like to ski. Lastly, like most of appreciating assets, you can sell it down the line and if you time it well make some money on it. You are lucky that you live relatively close by, we are making voyage from Southwest Connecticut, every time.
But, if you heart is not completely in it, wait, rent for a couple of more season and see how you feel.

[arttwood]

Thanks everyone for the advice. We have a home under contract!


Sent from my iPhone using Tapatalk

[thinkxingu]

^Awesome. Good luck!

[NewHaHagirl]

Awesome! We closed on our home in Alton last Friday and shared many of the same thoughts. I've enjoyed reading this thread. Wishing you a smooth transaction!!

[gf2020]

You went from questioning the rationale to having a house under agreement in 1 week? That's quick! Details are needed.

[upthesaukee]

Originally Posted by NewHaHagirl

Awesome! We closed on our home in Alton last Friday and shared many of the same thoughts. I've enjoyed reading this thread. Wishing you a smooth transaction!!

Hope you enjoy both.

[Dad sold the C * C]

Congrats to both of you, and Welcome to the lakes. I hope all goes well, buying a lake property can be interesting; especially if it is an older property. Deeds and lot lines are not always what they seem at first

During this first summer don't bother counting how many times:
you say "what a view"
you say "what a great decision"
you say "what were they thinking" when they built this place
you say "no not that switch, the other one"
You go to "Orange store" (Home Depot)
you go to "Blue store" (The other one)
> Unless you are lucky to have a good local hardware store near by
>
Occasionally you may say "WHAT WERE WE THINKING"
> But that only last as long as it takes to sit on the deck, patio, dock, in the water or in a boat.

oh and one more... you say "is it time for drinks"

[Rattlesnake Gal]

Congratulations arttwood and NewHaHagirl!!! You all are going to have the best summer of your lives!!! Welcome to the lake!

[Pricestavern]

Originally Posted by Dad sold the C * C

oh and one more... you say "is it time for drinks"

I've found that the Lake sits at the point of a geographic anomaly - no matter where you are or what time of day, the sun is always over the yardarm.

[polarisman14]

I can only hope I am fortunate enough in the future to be in your position where owning waterfront property is even an option. That said, here's what I would consider doing before only zoning in on winni:

Look into Newfound, Squam, and Winnisquam lakes. They are all within a half-hour or less of Winnipesaukee, afford very nice views and clean water, reduced boat traffic, and give you the same waterfront feel with a much reduced price tag. At this point you can easily and inexpensively trailer your boat to Winnipesaukee (provided it's a trailerable boat) and enjoy everything that the big lake has to offer as well. Consider renting during off-season months if possible to help cover expenses.

[jeffatsquam]

Originally Posted by polarisman14

I can only hope I am fortunate enough in the future to be in your position where owning waterfront property is even an option. That said, here's what I would consider doing before only zoning in on winni:

Look into Newfound, Squam, and Winnisquam lakes. They are all within a half-hour or less of Winnipesaukee, afford very nice views and clean water, reduced boat traffic, and give you the same waterfront feel with a much reduced price tag. At this point you can easily and inexpensively trailer your boat to Winnipesaukee (provided it's a trailerable boat) and enjoy everything that the big lake has to offer as well. Consider renting during off-season months if possible to help cover expenses.

I think you would find Squam to be about triple what you would pay for a similar home on Winnie.

[NewHaHagirl]

Great advice. We rented on the lake over the past few summers before we moved here. Then when we did officially move here we rented a town home. That gave us the opportunity to take our time and look around. Best thing we ever did! We looked at several homes on Winnie and the surrounding lakes. Since we are going to be here year round and travel for our work, Alton was a perfect fit. It's also closer to family and Pop's clam shack . Thank you for the welcome. We are thrilled to be here!!!

[MAXUM]

Originally Posted by polarisman14

I can only hope I am fortunate enough in the future to be in your position where owning waterfront property is even an option. That said, here's what I would consider doing before only zoning in on winni:

Look into Newfound, Squam, and Winnisquam lakes. They are all within a half-hour or less of Winnipesaukee, afford very nice views and clean water, reduced boat traffic, and give you the same waterfront feel with a much reduced price tag. At this point you can easily and inexpensively trailer your boat to Winnipesaukee (provided it's a trailerable boat) and enjoy everything that the big lake has to offer as well. Consider renting during off-season months if possible to help cover expenses.

Hmm I have yet to see anything on Squam that is cheap. It's like Sunapee, if you don't have at least a million to play with forget about it. Newfound and Winnisquam are on par with Winni. In fact if you're not careful what town you're in forget about purchase price the taxes will eat you alive. Look at Merrymeeting Lake, it's a beautiful lake, best water quality in the state and usually pretty quiet. Comparatively speaking waterfront on that lake is inexpensive, so long as you don't mind dishing big money on property taxes. Everything is relative.

[laketrout]

Wish I did it sooner! Bought a place in Southdown 12 years ago, sold that and moved to the neibghboring community of Long Bay and had a house built. I'm not on the water but close enough,to walk to my boat and beaches and or take my Golf Cart. Family, friends love it.

Previous to buying a place we traveled back and forth for years to the lake from southern NH to our boat on the Big Lake. Only regret I wish I bought 10 years earlier when prices were lower..

Is it practical for me financially with 2 houses and taxes? NO. But LIFE IS SHORT. If things don't work out I can always rent it (don't want to do that) and pay my expenses but so far no need..

I pulled the trigger and bought, the best decision I made for me and the family & my 11 year old loves the place, thinks it's normal for people to have a lake place but she is learning not everyone does and that we are very forunate.

[polarisman14]

The goal is always to give your kids a better life than you had--I was lucky enough that my parents made that a VERY difficult goal for me to top. I'll be lucky if I can give my daughter half of what they gave me. Unfortunately, the only part of that I didn't have was life on the lake.

I became close with a friend when I was about ten years ago and later found out his family had a cabin on Bear Island, that being my introduction to summers on Winnipesaukee. Ever since then I have my sights set on being able to provide something of that nature for my children when time and finances allow.

I can't imagine being in the position to do that and not doing it. Having a cabin on an island would be unbelievable to begin with, but living on the mainland and being able to stay year-round would be my main focus if it were at all possible.

Good luck with your search and let us know what you come up with!

[nhjenny]

We are as we speak, preparing to close on an Island property on the lake. We had exactly the same thoughts that you are having now. 3 kids, oldest goes to college in 3 years. Our thoughts ended up being that if we don't do it now, we won't and may regret it. We kept our costs down by buying on an island (much less expensive to get waterfront). There are drawbacks, but it was what worked for us to get the lifestyle that we wanted.

[Rattlesnake Gal]

Originally Posted by nhjenny

We are as we speak, preparing to close on an Island property on the lake. We had exactly the same thoughts that you are having now. 3 kids, oldest goes to college in 3 years. Our thoughts ended up being that if we don't do it now, we won't and may regret it. We kept our costs down by buying on an island (much less expensive to get waterfront). There are drawbacks, but it was what worked for us to get the lifestyle that we wanted.

Congratulations, nhjenny!!! Which island did you buy on? We also purchased our Rattlesnake Iisland property when our oldest son had three years of high school left. It was the most amazing thing that we ever could have done for our family! These memories will be forever treasured! Now that our boys are grown and off living their own lives, it is hard as we miss them being with us all the time like they used to be. We do savor each and every second that we get when they do make the trip and look forward to making more.

Island living is the absolute best! Please feel free to PM or e-mail me with any questions. This is going to be the best summer ever for you and your family! Enjoy your new adventure!