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Buying a Vacation Home at Smith Mountain Lake, VA
 

So you are getting ready to buy a second home at the lake.  Summer weekends are going to be great, playing in the water, grilling out for dinner, and watching the sunset.  Here are just a few things to keep in mind as you begin your search.
 
  1. Home Maintenance
Landscaping is one thing that can help reduce the amount of yard work, but make sure you are within the neighborhood guidelines, and AEP’s shoreline management plan for near the water.
 
  2. Waterfront vs. Water Access
There are many properties on the market, both waterfront, and water access.  This is yet another area where you need to consider your needs and wants for your vacation home.  Waterfront property is great, you are right there, can go jump in anytime you like.  You also have the upkeep of the dock, and waterfront to think about.  With water access property, you access to the lake to play, but without the upkeep, etc. to worry about.  The other obvious factor in this decision can be price, as waterfront properties are considerably higher priced that water access properties.
 
  3. POA’s
Property Owner’s Associations (POA) are setup in many lake neighborhoods, for both detached residences, and condo/townhome communities.  The POA is established to help maintain the neighborhood and any community areas that may exist.  POA’s require membership, and you should inquire about monthly or annual fees as you look at properties, as they can vary quite a bit.  
 
 
 
Valley Tree Mortgage is licensed by the Virginia State Corporation Commission. 
License number MB-3795.
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