Coffeeville Lake Topics: Retire on Lake Martin ??

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	Name:	MartiniMan -
	Subject:	Retire on Lake Martin ??
	Date:	7/29/2013 12:01:16 PM

That would be my plan if my wife wasn't so danged ADHD and always needs to be doing something. Either way I plan to spend a LOT of time after I stop working at Lake Martin while keeping a place in Atlanta until I can convince her otherwise.

If you are determined to retire on a lake and can afford it, now is a great time to buy on Lake Martin. If you have to borrow you can lock in very low mortgage rates and I would go with a fixed rate for sure. Only buy the house you can afford right now. You should also consider what kind of water you want. If you like deep water you will pay more and in most cases will be subjected to more boat traffic. If you like it nice and quiet then go for a house up a slough that may not have water in the winter or during droughts. Always a trade off when it comes to this decision.

Also, recognize that you are not buying a condo in some retirement community filled with a bunch of other seasoned citizens. You are buying a house on a lake that will be used by folks of all ages, including stupid teens playing music too loud, kids on jet skis acting crazy, boats going fast and making a lot of noise, boats going slow and making big waves and so on. Summers will be hectic and fall, winter and spring will be heavenly. But if these things aggravate you I would not buy a house on a lake. It will just make you miserable.

Remember to factor in the cost and hassles of the toys. If you have children/grandchildren they will be drawn to a lake house like mosquitoes to one of those bug lights. They will want to be entertained and that entertainment usually involves burning gas and making Cat wealthy repairing all the toys. Fun, but not cheap.

Tons of other issues/options/considerations but those are primary to my thought process.