Living on a lake is a dream for many people. Imagine sipping your morning coffee as the light glistens off the water — what could be better? Not much!
GOBankingRates dove into the deep end of lake town real estate. Forget about those overpriced coastal hotspots — the focus is on prime lakefront property that won’t require you to sell a kidney (or two).
Check Out: 3 Best States to Buy Property in the Next 5 Years, According to Experts
Consider This: How To Get Rich in Real Estate Starting With Just $1,000
According to real estate experts, these lake towns are where you should be dropping your anchor in the next five years.
Lake of the Ozarks, Missouri: Not Just for Party Cove Anymore
First up, we’re heading to the Show-Me State, where Lake of the Ozarks is showing us the money. Yancy Forsythe from Missouri Valley Homes sang its praises louder than a speedboat with a busted muffler.
“Lake of the Ozarks, Missouri is getting really popular because of its year-round activities and affordable lakefront homes,” Forsythe said. “Whether you love boating, fishing or just relaxing by the water, there’s always something to do at Lake of the Ozarks.”
In other words, it’s like the lake equivalent of that overachiever in high school — it does everything, and it does it well. And unlike that overachiever, it won’t cost you an arm and a leg to get in on the action.
Be Aware: 10 Worst Cities To Buy Property in the Next 5 Years, According to Real Estate Agents
Coeur d’Alene, Idaho: More Than Just a Pretty Face
In Idaho, Coeur d’Alene is proving it’s a great place to invest in lake side living.
“Coeur d’Alene, Idaho has beautiful scenery and lots of tourists, which makes the real estate market here keep growing,” Forsythe explained. “It’s a perfect spot for people who love outdoor adventures like hiking and swimming.”
If you think a perfect day involves sweating it out on a hiking trail and then cooling off with a dip in crystal-clear waters, Coeur d’Alene might just be your personal nirvana. And with a growing real estate market, your investment might look as good as those mountain views.
Lake Tahoe, California/Nevada: The Belle of the Ball
Ah, Lake Tahoe. It’s like the Beyoncé of lake towns — it’s, frankly, pretty perfect. Forsythe broke down what makes it amazing:
“Lake Tahoe, California/Nevada is always in demand with vacationers, and since there aren’t many homes on the waterfront, it’s a place where property values stay strong. The stunning blue waters and mountain views make it a dream location for many.”
In other words, buying property in Lake Tahoe is like investing in a vintage Chanel bag — it never goes out of style, and it’ll probably be worth more in a few years. The only con? Just don’t expect to find any bargains here.
Lake Geneva, Wisconsin: The Midwest’s Best-Kept Secret
In Wisconsin, Lake Geneva is serving up some serious charm.
“Lake Geneva, Wisconsin is the hidden gem of the Midwest and a favorite getaway spot with great real estate opportunities, because it’s close to big cities like Chicago and Milwaukee,” Forsythe shared. “Lake Geneva has lots to offer and it’s a great spot for people needing a weekend retreat or a permanent home.”
Plus, with its proximity to major cities, you can have your lake and eat your deep-dish pizza too. Win-win!
Lake Norman, North Carolina: Where City Meets Serenity
Heading south, we find Lake Norman making waves in North Carolina. Forsythe explained why it’s catching investors’ eyes.
“Lake Norman, North Carolina homes are becoming more valuable as North Carolina becomes more popular. Plus, you get the best of both worlds with lake life and city convenience. It’s great for people who want to enjoy the outdoors without being too far from a busy city,” according to the expert.
It’s a gorgeous location, and the price is right — now is the time to strike if those are your ideal things.
Traverse City, Michigan: The Cherry on Top
When it comes Michigan lakeside property, Thomas Brock, CFA, CPA and expert from Annuity.org, raved about Traverse City.
“I am a big fan of Traverse City, Michigan,” he said. “Situated on Lake Michigan’s Grand Traverse Bay, Traverse City offers an impressive combination of small-town charm, excellent schools, a burgeoning food and wine scene, and an incredibly scenic environment.”
Brock added, “If you are looking for relatively affordable real estate, stable economic conditions and year-round activities, take a look at Traverse City.”
So, it’s got lakes, cherries, wine, and affordable real estate? Sounds like the Michigan equivalent of hitting the jackpot!
Finger Lakes, New York: The Affordable Alternative to the Hamptons
We’re heading to New York, where Seamus Nally, CEO of TurboTenant, pointed us towards a hidden gem:.
“One lake town area that could be a great place to buy in these next few years is Finger Lakes, New York,” he said. “It is a more affordable option to the likes of Montauk and the Hamptons, and many people outside of New York know nothing about it.
“It is the ideal lakefront location — if a lake house is what you are looking for in a vacation rental or a vacation home for yourself. While there are certainly properties there that are very expensive, there are also many on the less-expensive end, so there are options.”
In other words, you can get your New York lake house without having to rub elbows (or compete for real estate) with the Kardashians. What a win!
More From GOBankingRates
This article originally appeared on GOBankingRates.com: The Best US Lake Towns To Buy Property in the Next 5 Years, According to Real Estate Agents