According to the calendar, winter just 
started but we all know from the chiropractic visits to tend to our aching, shoveling-afflicted spines that Minnesota’s winter weather blew into town several weeks ago. Unfortunately this means all that picturesque lakeshore that defines our beautiful state is frozen and covered with a thick white blanket of snow.
If you’re considering buying a lakeshore home, that just about cuts off any opportunity of buying for the year; that is unless you assess the quality of the lake using an ice auger and depth finder when freezing your backside off fishing on the ice. Right?
Well, not so fast. Buying a lakeshore home in the winter can make sense…And save lots of money too. If you know the specific lake well or are not concerned about the quality of shoreline, winter can be a great time to write up an offer.
GOOD reasons not to wait:
- Motivated Sellers—Any seller that keeps Minnesota lakeshore on the market during the winter most probably needs to sell.
- Less Competition—With few buyers on the market there is less change of multiple offers on properties which make for easier negotiations with the sellers.
- Low Interest Rates—They keep telling us that these rates won’t stay around forever and they are starting to inch up again. A lower interest rate means more buying power.
BAD & UGLY situations that could arise:
- Shoreline Problems—That picturesque beauty that was covered with snow could reveal low lake levels or weedy shoreline problems rather than the sandy beachfront you imagined.
- Septic issues—If the home is on a lake with a private sewage system, it might not be able to be fully assessed for compliance issues which could be costly if a new system is required.
Bottom line, winter can be an tremendous opportunity to get a deal on a Minnesota lake home but be advised if you don’t know the lake well; there are significant risks to making a purchase when the lake is covered with a thick slab of ice. Weigh your options carefully before deciding whether you should put in an offer on that seemingly perfect snow covered home on the lake or wait until April when the waves are once again lapping on the shore to put in your offer.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet or FREE Homebuyers Success Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota..JPG)
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Copyright 2012 Teri Eckholm http://www.terieckholm.com/
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Hmmm now this is very interesting Teri. Since I never sold real estate in MN it isn't something I would have even thought of until your post. We had a lake home and it never occured to me to think about the shoreline etc. In fact I'm trying to remember if there ever where any homes on the market in winter and I don't remember any. Ours was a year round home that we used as a 'cabin' and most winters we'd be the only ones out there. Sure was fun times!
Anna--Lakeshore buyers that really know and want to make a good deal on a specific lake might be okay to purchase at this time. Or...if they are not too particular as to what the beach/shore looks like. Hard to see under all that snow right now!