Inexpensive Lake Travis Waterfront Homes
I have a lot of people using my website to look for Lake Travis waterfront homes. Many don't have a good understanding of pricing compared to challenges. The challenges I am referring to are the floodplain and the elevation of the home and lot. For example, there is a home listed for sale on Continental in Lago Vista and it looks great. It is on a cove, has over 2500 square feet, was built in 2005 and is priced at $499,900. Sounds great, right? If you ask someone who has the resources to dig deeper, what you will find is that the floodplain looks like it cuts right through the house, meaning that this home is at risk for flooding. If you dig deeper, you will also see that this home is on a shallow cove that will not have water a lot of the time. That is why this home is priced under $500,000.
Consider a home in Graveyard Point that is listed for $469,000. The listing states that is was built in 1978, but has been remodeled. It has three levels and is true waterfront. It states that the house generates good rental income as well. So why is it so inexpensive? Take a look at the image. The red arrow points to the approximate location of this home. See the red and green lines? The green is the old floodplain line and the red one is the newer floodplain. This house will have water in it when the lake floods. The Seller's Disclosure even states that the structure has flooded before.
Believe me when I say that I am not being critical of these listings. What I am trying to do is give readers an education. If you see a Lake Travis waterfront home listed for less than $1 million or so, you need to find a knowledgeable REALTOR to do some digging for you.
Have questions about Lake Travis waterfront real estate? Call me at 512-293-2422. Also, if you are a seller and want to find a way to see your home quickly, click HERE.