Well it’s that time of year when weekend getaways on waterways is the thing to do!!!
And, this week, The Cribline Charlotte took a look around Lake Norman to get an idea of the real estate market on Lake Norman.
And, just this morning hot on the market is this week’s House Pick of the Week. Take a look at 16815 Lake Shore Drive. It’s a 3 bedroom, 4 bath fully renovated craftsman home on a double lot with all amenities and views of the water. It’s listed for $675,000.
The kitchen is gourmet with stainless steel appliances and granite counters, and there’s a large stone fireplace which really captures lake vacation getaway living. And there is water access.
To the Point Analysis: with 20 percent down on $675,000 of $135,000, the mortgage amount would be $540,000. At an estimated 4 percent for a 30-year fixed rate mortgage, the gross payment would be about $3,140/mo. After tax deductions the estimated net monthly payment would be about $2,100.
Note: many vacation homes like this are rented out for about the same amount at a weekly rate as the monthly net mortgage payment.
This is a find!