Living near the water creates great views and increases property values.

Things to consider:
1.) Do you get hurricanes there? Wind propelled water can be a nuisance....though probably less so on a lake.
2.) Do you get tornadoes or lots of cold weather? I'd be hesitant to get any place without a basement in a climate that had cold weather or tornadoes.
3.) Is any of the property protected wetlands?
5.) Check for flood damage.
6.) Whether you are required to get it or not...GET FLOOD INSURANCE. If you can't afford it, you can't afford the house. It's on the list for a reason.

This post was edited by edlincoln on Fri, Sep 5, 14 at 15:16

Thank you for the reply, Edlincoln. No hurricanes but i am in WI so it gets cold and there are tornadoes sometimes. I live in an upstairs apartment right now and there is no basement shelter for us, so i guess i'm a risk taker lol

Explain why cold weather and no basement would be an issue?

I will hopefully get my home inspector to go in the crawl space and check for foundation issues and signs of water.

I plan to look into the cost of flood insurance. for this particular home too.

Most states with cold weather have codes saying pipes have to be below a certain depth underground so they don't freeze. Essentially digging deep enough to be sure the pipes and foundation are protected from frost damage puts you half way to having a basement in, say, New England...so most builders end up digging that little bit more and putting in a basement while they are at it. In Massachusetts I'd worry whether any house without a basement had water pipes that weren't deep enough, whether the water tank was protected from the cold, if I would have to crack open the slab to get at the pipes if they ever did freeze, etc. (A water tank in a crawl space is fine in Florida but very bad in NH) I'd also worry that the reason they didn't put in a basement might be because a high water table made it impossible...and a water table that high could be a problem.

In the South things are different...you don't have to dig so deep to avoid frozen pipes and keep the foundation from heaving due to ice. No one has a basement in Florida. Not quite sure where WI falls in this.

Here is a link that might be useful: Why Do Northern Houses Have Basements

This post was edited by edlincoln on Wed, Sep 3, 14 at 22:39

Ah, ok. I know the hot water tank is in the house itself. I haven't seen the property disclosure form yet, but if pipes had frozen in the past, it legally would have to be on there.

No, you want the fantasy of living on the water without any of the problems or extra costs that result from the location.

ummmm, ok lol

If in a flood zone are you really willing to risk loosing everything you own including the house potentially? Insurance can replace some things, but not everything and you also have to deal with the hassle of having to replace things and wait for a pay out and find somewhere to live in the mean time and deal with repairs and find contractors etc. What if insurance denies a claim.

This post was edited by lyfia on Sat, Sep 6, 14 at 9:27

I will get flood insurance more than likely and just get a high deductible to hopefully make it more affordable. I can't live my life scared that i might lose everything in a flood----i could lose everything in a tornado or a fire too....

Hollysprings is too harsh. Buying a house is a compromise. Few can afford everything they want. If you want a cheap waterfront property, you need to accept something will be wrong with it. The question is whether that something is something you can live with. My "spidy" sense suggests if you buy this house, something will go wrong down the road. That doesn't mean you shouldn't buy the house, it just means that you should factor in to your equations the fact that you probably should save so you have money to deal with some crisis down the line.

This post was edited by edlincoln on Sat, Sep 6, 14 at 17:03

thank you, Ed, for your kindness---it's not that i *want* something cheap---it's all i feel comfortable buying (I don't want to have to take out a mortgage)--and this house isn't bad---way far from perfect but it could work for me. i definitely will have a large reserve fund for problems that crop up. :)

I would love to live on water, but you've described your view as an ugly berm. That's not my idea of lovely waterfront property. Do you have a photo showing what you'll see?

You say this is a 'lake' that's really part of the WI River. So the water is still, doesn't flow? That's mosquito heaven! And the Army Corps of Engineers built the berm? They haven't built anything in their history that's held up to Mother Nature.

Like I said, I'd love to live on water. It's the water that's the most important point here.

TomatoFreak,
Just because there is water nearby, does not mean mosquitos will be bad. if there are fish in the river, which I am sure there are, you will not have mosquitos breeding there.

Also, sheâÂÂs moving there for the waterspout capability, as well as the ability to pay cash. If sheâÂÂs made an offer on it, it might be that a view isnâÂÂt her top priority. In my area, there are a lot of lake homes (IâÂÂd venture to say most) that have no view because the trees block it. TheyâÂÂre still desirable places to live.

ncrealestateguy, that's just not always true. Not all fish are mosquito larvae eaters. A couple years ago, we looked for a place to park a trailer and considered a lot by one of AZ's last running rivers. We changed our minds when we were swarmed by mosquitos.

Function_First, what is "waterspout capability"? I've never heard this term.

I am a water lover stuck in the desert; I'd love to live on or near water. I'd still be concerned about flooding and mosquitoes. Years ago, there were no mosquitos here; now we are plagued by the %^$%# things. Go figure.

@tomatofreak lol watersport - autocomplete is not my friend

Bodies of water big enough to support decent fish populations tend not to have mosquitoes...the concern is whether there are any swampy areas/tiny ponds around the lake/river.

I'd be tempted to put a deck on top of the berm.

Also, watch for signs of erosion on the berm.

I had to move the discussion over to a new post but fwiw, the berm doesn't look to be eroding----its covered in well established sod. I don't have enough money to put a deck there, only in front of the berm out the back sliding patio door :(

Why did you have to start another thread?

I couldn't get the picture of the berm to come through :/

The beauty of decks is you can always build them later...

When you first buy a house, the things to focus on are planting trees (because they take a while to grow) and maintenance/safety things that keep your house from deteriorating...and energy efficiency.

Lots of folks seem to get carried away with kitchen renovations and chopping stuff down when they first move in...you can always do that later after you replenish your savings and get a sense of what the house really needs.

ed, this place has lots of mature trees but it does need lots of other landscaping :/

Then that piece of advice may not be relevant to you. The reason I mention planting trees is because they take a long time to grow. Plant now anything that you expect will take a long time to grow know. If you are thinking of small landscaping plants (perennials, bulbs, etc.) the landscaping can wait. I generally think people should wait a year before clearing stuff a way...you want to see what blooms, what tree provides shade a certain time of year, etc. (It can often be hard to tell weeds from flowers).

This post was edited by edlincoln on Sun, Sep 14, 14 at 18:21