The Cost of a Lakefront Lot in Orlando

Lakefront Home LongwoodIf we are being honest, there is no shortage of waterfront properties in Orlando, FL. The most popular include Lake Conway, Lake Jessamine, Lake Nona, Winter Park, Butler, and many more. 

One of the most common yet essential questions when considering a lakefront property is how much it costs. Of course, you can expect a hike in property value when near or on a waterfront. 

Whether you are a buyer or seller, how much can you get or sell your lakefront property in Orlando? Here is a breakdown.

Approximate Value of Lakefront Property

Many factors affect the value of a lakefront property. That can significantly confuse you if you do not have a credible real estate broker to explain the ins and outs. 

Here are some factors you should look at when looking for or planning to sell a lakefront property in Orlando:

Buildings

Does the lot have a house, or is it empty? You can buy an empty lot and handle the building costs yourself. Here, you should consider what house you want to construct. However, if you do not wish to go through the hassle, you can always find a lot with a home that suits your needs. 

Size

It goes without saying that the size of the property will significantly affect its price. However, you must consider other factors, such as access and the view. For example, a larger inland property can be cheaper than a smaller lot next to the lake.

You should also note that a small lot can limit your activities, including construction. Hence, you should consider what you want to achieve with the lot.

The Proximity to the Lake

Some lots are more inland than others. This factor affects the view of the water body and how you can access it. Therefore, you can expect a lot right next to the lake to be more expensive than a lot more inland. 

Outdoor Amenities

Having additions, such as a reliable dock that can attract people, a pool, an outdoor kitchen, and more, will add to a lakefront property’s value. That is due to its ability to attract more people, making it a money maker.

The Lot’s Condition

A well-kept lot will be more expensive than a shabby one. Therefore, you need to consider this factor before buying or selling. 

Now that you know a few things that affect the value of a lakefront lot, what is the price range for most?

The average cost per square foot is approximately $460, with a median listing price of $1.02 million. However, depending on their size, more inland properties can be as low as $200,000. Huger homes, sitting on larger lakefront lots, can cost over $4 million.

That said, a 1-acre empty lot on the lake can cost up to $1 million. Inland empty lots can cost approximately $100,000 per acre. Some places can be cheaper or more expensive than that.

What Next?

If you have found an empty lot that you want to develop or need renovations for your lakefront property, Posada Custom Homes is here for you. You can leverage our wide range of services to get exactly what you wish. Consult us today to make your dream come true.