Three Critical Factors to Consider When Buying a Home or Lot in Lake Murray, South Carolina
Posted On May 1, 2021
Not all real estate is created equal, and this is certainly true with waterfront properties in Lake Murray, South Carolina. Understanding what to look for can aid in the decision-making process and can also help ensure years of enjoyment from your lakefront home. For most people, the three critical factors to consider when purchasing a Lake Murray waterfront are whether you have marginal land, whether the property can have a private dock, and whether you have year-round water.
The first critical factor is marginal lands. Fringe-land is a term used by SCE & G (South Carolina Electric and Gas) that basically refers to a seventy-five foot wide strip of land that is owned by SCE & G and is located between the edge of the lake and the adjacent boardwalk. property.
The owners of the adjacent property only have access by foot to the lake and may not encroach on the land or cut trees or shrubs on the land without written consent. While most properties on the lake do not have to deal with this “vegetative buffer,” there are still many properties in the more rural areas of the lake where this is a consideration. Generally, free marginal land properties are more desirable.
The second critical factor is the ability to have a private dock. Not all Lake Murray properties can have private docks. SCE & G controls dock permits and has strict guidelines governing the issuance of permits. Properties that have the capacity of a private dock are more in demand and are generally priced higher than those with only a shared dock or no dock at all.
The third critical factor is whether the property has year-round water. Since Lake Murray is a hydroelectric lake, it has an annual reduction in the fall and winter. The upshot for landowners is that some properties may be “dry” during the low period. Unfortunately, most real estate agents do not understand how to properly evaluate this aspect of lake properties.
Often times properties will present as if they have water all year round, but this is not the case. Generally, this is not intentional deception on the part of the listing agent, but usually a lack of skill. If you plan to buy a house or lot in Lake Murray, make sure your real estate agent can do an in-depth USGS-based analysis on any property of interest.
When purchasing any property, you must perform due diligence. Now you have an idea of what to look for when considering making a purchase in Lake Murray South Carolina. See you at the lake!