Have you always dreamed of living on Lake Minnetonka? Lakeshore, boats, sunset cruises, water activities, and winter fun. Does it sound like a fit? If so, here’s a high-level overview of the steps you’ll need to undertake to make your dream of Lake Minnetonka life a reality!
#1 Choose a Realtor
The single most crucial decision you’ll make. To make the right one take a look at a recent article about Choosing a Realtor in the Lake Minnetonka area.
#2 Get Preapproved
Your realtor will know a number of good lenders who can help you through the preapproval process. You cannot make an offer without a preapproval, and understanding what you can spend, and what it’s going to cost you monthly, is the most important step after selecting a Realtor. It will guide you in all phases of the search and offer process.
#3 Start Shopping
You and your realtor will discuss your needs and wants as it relates to Lake Minnetonka as part of steps one and two. You and your agent will then begin viewing homes. Your Realtor must also be well networked and will have access to ‘pocket’ listings. These are lakeshore homes that are not available to the general public. For more about pocket listings, click out TI article here, Pocket Listings in the Lake Minnetonka area.
#4 Writing an Offer
Your Realtor will share comparable properties that have sold, an offer price perspective, and other key considerations as you consider your offer strategy. Your Realtor will also advise on the best approach to making an attractive offer that is likely to secure the home while also protecting your interests. Listen to your realtor. They are the expert. Also know that there may be competition for the home and your Realtor will push you to put your BEST foot forward. Make sure you do. There is nothing worse than knowing you could have done more but you missed the opportunity. In multiples you often get one shot for your best offer. Make it count!
#5 Closing Day
Break out the champagne, it’s time to celebrate! You’ve achieved your dream of owning lakeshore on Lake Minnetonka. One final tip; if you liked your agent and they did a good job for you recommend them to everyone you know, Lake Minnetonka or otherwise. Your agent will forever be indebted to you!
Key Considerations
Make sure your agent understands what key drivers influence your housing decision on Lake Minnetonka. Do you want to fish? Are water sports critically important? Do you swim or plan to? How many boats do you want to have? All of this is critical in selecting the right bay and shoreline length.