How Water Affects Property Values

holly Lake Living 2 Comments

Water Affects Property ValuesCan a piece of land be deemed more desirable because of water quality? The answer is definitely yes. Excellent water quality is one reason people are flocking to Smith Mountain Lake. The vast majority of spots on more than 500 miles of shoreline have crystal clear water year-round. The quality of the Water Affects Property Values here at the lake in a positive way for sure.

Several studies that have been done indicated that the water clarity of a lake was a significant factor in how property was priced. Prices were higher on lake real estate with higher water clarity. According to the statistics, waterfront property buyers will pay more for lots or homes on lakes with better water quality.

Unfortunately, as in any fresh body of water, a few places at SML have less than perfect water quality in certain seasons of the year. These are typically right at the mouth of a few small stream inlets in the back of certain coves. This poses a potential problem for buyers visiting the lake during the 90% of days during which the water in front of these homes is clear. You may visit and find that the price on a lot or home seems lower than other similar properties. Without a realty agent who is both knowledgeable and honest, you may find yourself purchasing a property without realizing it has less than perfect year-round water quality. Thankfully it is unlikely that dishonest agents will be a problem for you here at Smith Mountain Lake.

The most important issue for most of us is that our enjoyment of the lake will rarely if ever, be affected by minor water quality variations. The water will typically be clear for most of time you are enjoying the lake. It will often, however, affect the value and appreciation of your home, as well as the time on the market when you choose to sell. You may even prefer to purchase a nicer home in an area with less than perfect water quality. This may save you money and suit you just fine.

Comments 2

  1. One important fact not mentioned in your article…
    AEP must first keep the lake full even during dry seasons in order to maintain property values and attract potential buyers and protect business interest in the area. A FULL lake and water quality go hand in hand.

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