Photography by Kelly Realty, New Auburn, WI

Perhaps you've always dreamed of owning a little place on the lake. Or you're seriously in the market for an oasis with 100 feet of shoreline. Maybe an opportunity to buy lakeside just dropped into your lap.

Before you take the plunge, you need to test the waters. We talked to several real estate specialists who agree: buying lakeshore property is a different animal. Here are a few factors to consider before you get your feet wet.

Lakeshore quality. Does the property offer beachfront with clean water and a nice sandy bottom? Or does it feel rocky or weedy, soft and murky? Check the Minnesota and Wisconsin Department of Natural Resources (DNR) Web sites for water clarity and quality data for state lakes. And don't forget to factor in lake depth, says Pat Kelly, Kelly Realty in New Auburn, Wis., where many of the surrounding lakes have depths of up to 100 feet. "Most of the time that equates to clean, spring-fed water and less weeds, and water levels don't fluctuate as much," he explains. Adrienne Thompson, Excelsior Real Estate, advises potential buyers to be mindful of the time of year, or talk with someone who knows the lake well. "In spring, everything looks great," she says. "Come late summer, however, that same lakeshore may be over run by lily pads and reeds."

Location, location, location. On Lake Minnetonka, property on the east side draws a much higher dollar amount, in part because of easy access to major highways and the Twin Cities. "The farther west you go, the more value you'll see per square foot," says Matthew Hermann, Edina Realty in Wayzata. Similarly, cabin owners often get more for their money if they are willing to travel farther from the Twin Cities. However, Kelly warns that too much travel time can be a detriment. "If it's too far away you won't pack up the kids and go," he says. Don't forget to factor in boat traffic on the lake, as well. A cabin overlooking a busy channel or located near a hopping lakeside restaurant is likely not as desirable as one in a more secluded bay.

Lake size. In the Blue Diamond area of Western Wisconsin, lakeshore properties on low-density lakes generally have a higher value than lots on neighboring lakes with more development. "Each lake has a different value per foot of frontage,"says Kelly. But when it comes down to it, finding the right lake size depends largely on your desires. "Are you just going to look at the lake and drink coffee? Or is water-skiing a passion?" asks Thompson.

Elevation. Again, the old saying, "If the shoe fits, wear it," applies. Some lake home owners enjoy the view from high on a hill overlooking the shore. Generally, the lower the bank and fewer the steps, the higher the value. "A high bank rules out a lot of buyers," says Kelly. 

Finding the right realtor

If you're in the market for lakeshore property, Jim Christensen, Kurilla Real Estate in Nisswa, recommends finding a local realtor who is an expert in lakeshore properties, doing at least 80 percent of his or her business on the water. "If you don't have proper representation, you can pay more than you should."

Kelly, who has lived on the lake all of his life, agrees. "Go with a local. It goes so much smoother," he advises. "Some of the nightmares are because realtors don't know a thing about the area" or the history of the property. Hermann adds that realtors who know the ins and outs of a lake also know where to avoid.

Kelly's associate, Eric Larson, offers another reason to go local: The relationship doesn't end after the sale. "People we sell to call us constantly for advice, from which contractors to use to where to get a bite to eat," he says. It's all about service, after all.

Quick clicks for lake clarity information:

Minnesota DNR Web site: http://www.dnr.state.mn.us/lakefind/index.html

Wisconsin DNR Web site: http://dnr.wi.gov/org/water/fhp/lakes/

By Nancy Pias