When you’re buying a Lake Oconee home – should you buy the best view or best home?
When searching for your lake home on 19,000 acre LakeOconee, how do you sort out your priorities?
If you’re lucky enough to be able to say "money is no object", then you can choose a great home on a fantastic lot, like this home in the acclaimed Reynolds Plantation. At 1521 Bennet Springs, you'll find a Cypress timber frame home built in 2013, with 5 bedrooms, four full baths and two powder rooms, plus an infinity pool with stunning lake views. List price is $3,290,000.
Even with a $1,000,000 budget, you’ll be able to get a lovely home, but with a lesser view, like this lakefront cottage at 1040 Bartrams Bluff in the Liberty Bluff section of Reynolds Plantation. The home has 4 bedrooms, four full, and one half bath, and was built in 2002 - listed for $1,099,000.
If your budget is close to the median 2014 sales price for a single family home with a private lakefront lot - $658,000 – then you’ll have to choose between a newer home on a lesser lot, or a great lot with an older home. This home at 1450 Plantation Drive is in the desireable Salem Plantation community, close to shopping and restaurants. Built in 1997, with 4 bedrooms and 3.5 baths, the home has good bones with dated finishes, including stippled ceilings and vinyl siding. List price is $639,000.
In the long run, the quality of the lot is generally what will appreciate in value the most – so if you’re in the position to handle a renovation project, or buy a smaller home now and expand later, you should seek out those hidden gems. Smaller older homes on great lots, like this 1980’s cottage looking out on the clear waters of the Richland Creek side of Lake Oconee. With this property, you can get million dollar views at a fraction of the price.
The original lake cottage has about 1000sf on each level, with vaulted ceilings and hardwood floors on the main floor, and 9ft ceilings below. The main level is finished, with a large great room, dining area, galley kitchen, and one bedroom with one full bath plus a powder room. An open stairwell leads to the lower level, where renovations are not yet finished. Bring your contractor and decide whether to complete the renovations and/or expand, or replace it with your dream lake home.
Imagine relaxing on your porch, looking across the clear waters of the Richland Creek side of the lake at 18th fairway and green of the Reynolds Plantation Oconee Course. Enjoy the Ritz Carlton fireworks from your own dock.
The GA Power lot line is close to shore, so adding a lakeside firepit or pavilion would be easy. The natural water depth is 5ft plus – perfect for all your boating needs.
Best of all, the price is just $325,000 – well below the median price of just a lot on Lake Oconee.
If you’re looking to maximize your long term value, and are willing to consider project homes on Lake Oconee in exchange for A+ quality views and location, this could be the best option on the lake. Call me now to schedule your private showing.
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