Lake Winnipesaukee Real Estate

Only the mud season (spring) is when the lake sees little traffic. As a result of its beauty and recreational opportunities that it offers, and its limited waterfront, Lake Winnipesaukee has historically been a hot real estate market. Waterfront properties range in price from as low as a few hundred thousand dollars for a basic camp on the back-waters of the lake, to as high as $50M for major McMansion estates. Yes, $50M. There is a home listed on the lake at the time of this writing for $50M. On average, however, you can expect to pay around $1M to $2M for a lakefront home on the Big Lake.

Having been a resident of New Hampshire for over 35 years, I have spent a great deal of time on Lake Winnipesaukee. I started visiting the lake regularly as a teenager, and bought my first home on the Big Lake in the late 1990s. I sold it and purchased my second home on the Big Lake in 2012 and have been living there since. Suffice it to say, it is just a slice of heaven that is just too hard to walk away from. In both cases, I purchased my lake homes in Moultonborough, New Hampshire, which is a quaint small town on the northern end of the lake. Moultonboro has waterfront property on both Lake Winnipesaukee and Squam Lake, both of which were in the film “On Golden Pond”.

Like many people who buy on the Big Lake, I bought a seasonal camp on it and then razed it and built a new large year round home on the property. We used the home year round for nearly 12 years before we sold it and purchased a slightly larger home that was built the same year we built our first home.

As stated earlier, having been a resident of New Hampshire for over 35 years and been a member of the Lake Winnipesaukee community for 15 years, I have had the chance to witness the growth and changes in the Lakes Region. Suffice it to say, the area continues to change and grow. Each year there are many old camps that are torn down and replaced by new large vacation homes. The Adirondack style seems to be the most popular style home built on the lake now days. In the late 70’s the typical well built cottage sold for around $100K on pristine waterfront. Today, a similar type cottage on similar waterfront would sell for around $1M, basically just for the land.

By the time the new home is constructed the typical 5,000 square foot Adirondack property will list for around $2M to 4M dollars. Prices came down somewhat after 2006, but at the time of this writing prices have begun rising again.

Overall, Lake Winnipesaukee waterfront homes tend to hold up fairly well during a downturn in the economy. The main reasons for this are that there is simply limited waterfront property, and most folks who own the properties own them outright. They have no mortgages and thus can afford to hold onto them even in a downturn in the economy. Even during the last downturn new homes were commonly being built on the lake.

In terms of where to purchase property on Lake Winnipesaukee there are a couple of key factors to consider. The northern part of the lake, such as in Moultonboro, Center Harbor, and Tuftonboro, has lower tax rates, simply due to the fact that there are less full time residents and school age children living in the towns. Thus, a $1.5M home will have a property tax bill of around $12K. In the southern part of the lake, such as in Meredith, Alton, Gilford or Wolfeboro, you can expect lakefront homes to cost around the same as in the northern towns; however the property taxes will be double. The northern part of the lake is less commercialized and is quieter than the southern part.

However, it does take more time to get to the northern part of the lake. Depending upon what town, you can expect an extra 15 to 30 minute drive. Since my primary home is in the southern part of New Hampshire, and I prefer a quieter lifestyle and lower property taxes, Moultonboro is the perfect Big Lake town for us.

If on the other hand you want to be close to lots of off-water activities, and have a shorter trip to the Big Lake, then the southern part of the lake maybe perfect for you. The southern part of the lake boasts more restaurants, movie theaters, the largest arcade in the world, a premier concert pavilion where top bands play during the summer, and the Weirs beach area.

If you close your home down for the winter, pipes need to be drained, water supplies shut off, and the home overall winterized for the frigid cold months. All of this maintenance takes time and money. So be prepared. A home is not self-maintaining and that certainly is true of a lakefront property.

To conclude, buying property on Lake Winnipesaukee is a fantastic investment. It’s also a fun investment. Instead of watching you money growth, and shrink, in the stock market, you get to enjoy your summers on the lake with family and friends. Just make sure you consider all the important factors mentioned above and do your homework before making a purchase. Lastly, keep in mind that if you do buy a home on Lake Winnipesaukee you have a responsibility to protect it for future generations to enjoy. More specifically, make sure you do your part in protecting its shoreline and water so that it stays pristine for generations to come.

If looking for more information on Lake Winnipesaukee Real Estate feel free to contact me at mark@homeadditionplus.com. Though not an active real estate professional, I do hold a New Hampshire Real Estate license and can refer you to some extremely knowledgeable New Hampshire lakes region real estate professionals.