Every year we help many families and buyers in their search and eventual purchase of a vacation home at Deep Creek Lake. But every sale from start to finish has important details that must be considered along the way. In my experience as a long time REALTOR at Deep Creek Lake, here are a couple of tips I'd like to share that will help make the buying process go smoothly and stress free - even after the closing;
1. Consider The Details. When you start looking at properties make sure to ask yourself questions like - Do I see my family still being here 10 years for now? How do I plan to use the inside of the house and the outside? Does this house or townhome have enough room and spaces so friends or another family can comfortably visit us? Does the property have a private dock or boat slip? Buying a resort house is a lifestyle decision. Considering both the inside and outside setting and proximity to the lake and Wisp Ski resort are important. Make sure the property fits your entire lifestyle so it can be one that creates great memories for years and years to come.
2. Don't Ignore the Important Information. Make sure to thoroughly read all the Property Disclosures and information about the property you are buying. The Deep Creek Lake area has a very wide variety of houses and townhomes - from brand new multi-million dollar lakefront homes to smaller, older cabins in the woods. Some of these homes have public sewer but most are on septic fields. Some houses have more bedrooms than what is allowed on the septic permit. Some houses are in an HOA or Condo association. Some lakefront houses have buy-downs with conservations easements and some do not. Some houses have lake access with a boat slip. Some have lake access but no boat slip. It's crucial to fully understand what you are buying and what you can and can't do with the property. Also, review all the HOA or Condo Association information. In this area we have over 300 smaller associations all with different rules, regulations, fees, and amenities. An experienced buyer's agent will assist and help you fully understand all this important information.
3. If Financing Don't Change Much. If you plan on financing your second home purchase try not to change your credit status or jobs during the purchase. Banks are still strict with their lending criteria and documentation requirements. They double check everything now. It's important to get pre-qualified and follow the lender's recommendations during the loan process.
4. Don't Wait Too Long. When that one perfect property comes along do not be afraid to make an offer. Good deals do come along in this market but usually get snapped up quickly. If you do get your offer accepted it's also important to start any inspections right away. In Maryland the timelines for inspections are based on days from contract acceptance - typically 10 or 14 days. Do not wait until the last the few days of your contingency period to do an inspection. With our unique weather it's always best to jump on them right away. A good agent will coordinate the inspections for you and ensure all contingency timeframes are met.
If you would like to begin searching for a vacation home at Deep Creek with an experienced agent please contact us for a free tour of homes for sale. We have the largest selection of available properties for sale at Deep Creek and Garrett County. Please note we can also show you properties listed for sale with other real estate companies. We look forward to helping you with all your real estate needs!
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