There’s a good reason why waterfront properties command a premium…
People love the water.
According to scientists, being on or near the water makes us calmer, happier, and more productive.
Benefits like this are a big reason why most of my homes are near an ocean. My condo on Portugal’s Silver Coast is overlooking the water, and in Cabo, I’m a short stroll from the beach. I love to start or end my day with a walk along the sand, listening to the soothing sound of waves lapping against the shore.
There are a number of ways to own by the water…
Beachfront homes are the most popular, of course. But if you want waterfront, you should also consider a lake house.
As a general rule, lakeside homes tend to be more affordable than beach homes. And yet, they offer many of the same advantages…
How nice would it be to step out of your home and walk a few steps to the shore of a beautiful lake with warm blue waters? To dive into it and swim to the opposite shore and back in time for breakfast?
The price of lakeside homes has risen in recent years but you can still find value if you know where to look. Take Central America. It’s home to some of the world’s most stunning lakes. And you don’t need to spend millions there to enjoy a lakefront lifestyle.
Check out these lake-view houses my team found…
Lake Arenal, Costa Rica
Listing Price: $265,395
This condo has stunning views of Lake Arenal and the nearby volcano. Listing here.
Way back before Costa Rica’s tourist boom, the sunny northwestern province of Guanacaste was a sleepy region of cattle farms, empty beaches, and good surf breaks. It was also hard to get to. The road from the capital city was in bad shape.
But a savvy group of hotel and real estate developers could see the appeal of this stunning, endless-summer location, and invested hundreds of millions of dollars to bring tourists here.
New roads were built and the airport was expanded and upgraded. The introduction of regular flights from the U.S. kick-started a stunning transformation on this coast. Today, this is one of the world’s true up-and-coming high-end havens.
But you can still find value here, particularly inland.
Lake Arenal is Costa Rica’s largest lake. Situated in the Guanacaste region, it’s a popular spot for wind- and kitesurfing. Originally a natural body of water, the lake tripled in size after the construction of the Presa Sangregado Dam in 1979.
This modern, spacious one-bed condo sits on a private hilltop on the northwest end of the lake and has views of Arenal and Tenorio volcanoes. It’s tucked away in a gated community with multiple lakeview swimming pools, a pickleball court and other amenities.
The condo makes the most of its location, with an open-plan kitchen and breakfast bar, and the bedroom has a lakeview balcony accessed through sliding glass doors. The listing price is $265,395 and you’ll find more details here.
Lake Atitlan, Guatemala
Listing Price: $110,000
This two-story house near Lake Atitlan has the potential to be divided into two apartments. Listing here.
In the lush highlands of Guatemala, you’ll find Lake Atitlan, which has been called one of the most beautiful lakes in the world…
Formed in a volcanic crater and surrounded by three volcanos (Atitlan, Toliman, and San Pedro), Lake Atitlan is the deepest lake in Central America, reaching a depth of 1,120 feet. The area around the lake is dotted with Maya villages.
Right in the center of the charming village of Jaibalitois is this one-bed, one bath house. Set over two floors, the upper floor has a kitchen, bathroom, and dining area. It is accessed by an exterior stairs and also has a large covered porch with views of the lake. The lower floor needs to be renovated but could be used as a separate apartment.
Jaibalitois is popular with both locals and expats…spiritual seekers flock to yoga and meditation centers in the area while outdoor enthusiasts come for the birdwatching and water sports.
The asking price for this home is $110,000 and you can see the full listing here.
For something larger, more spacious, and closer to the lake, this six-bed, three-bath property is also on the market in Jaibalito. Spanning 3,905 square feet, the colorful main house has three bedrooms and is full of large open spaces, making it perfect for social gatherings or to rent out to groups as an Airbnb.
There is also a casita, a small second building, with three more bedrooms. The large front terrace has stunning views of the lake. It’s listed for $315,000. Find more information here.
Lake Bacalar, Mexico
Listing Price: 5,999,000 pesos ($289,564)
This three-bed, two-bath house is a short drive from spectacular Lake Bacalar. Listing here.
Mexico’s Lake Bacalar is a long, narrow freshwater lake near the country’s southeastern border with Belize. It’s famous for its dazzling blue water (it’s known as The Lake of Seven Colors), partly a result of the white limestone at its bottom.
The lake is fed by an underground river system that includes cenotes and is home to some of the oldest life on earth, including stromatolites (rocklike microorganisms that accumulate in layers).
The town of Bacalar is charming, featuring colonial-style buildings and cobblestone streets. The malecón, a beautifully landscaped boardwalk that runs along the lake shore, is the heart of this town. There’s also a thriving artisan scene here with local markets selling handmade crafts, traditional textiles, and local cuisine.
This three-bed, two-bath house is a 17-minute drive from one of the top-rated spots for viewing the lake. The property has just over 1,900 square feet of living space and includes an outdoor pool. View the listing here.
Lake Apoyo, Nicaragua,
Listing Price: $250,000
This house in Masaya, Nicaragua, offers stunning views of Lake Apoyo. Listing here.
In 1991, the Nicaraguan government named Lake Apoyo a nature reserve, making it one of 78 protected areas in the country. It lies between the departments of Masaya and Granada, in western Nicaragua, and sits in the caldera of an extinct volcano.
My team found this two-bed, two-bath house in Masaya. The property is surrounded by lush vegetation that provides privacy while offering incredible views of Lake Apoyo. Each room has access to a porch that has views of the lake. It’s listed for $250,000.
You’ll find plenty to do here. Cross to the east side of the lake and you will arrive at Nicaragua Butterfly Reserve. The colonial city of Granada, on the banks of Lake Nicaragua, is about a 20-minute drive away. Typically Spanish in its appearance, and laid out in a rectangular grid, Granada is one of the oldest cities in the Americas and known for its well-preserved colonial architecture. Check out the listing for this home here.
Lake Chapala, Mexico
Listing Price: $792,000
The Chula Vista Hillside is the ideal place from which to admire Lake Chapala. Listing here.
If your budget stretches a little higher, this next property offers spectacular views of Mexico’s largest freshwater lake.
At only 23 feet deep, Lake Chapala is shallow, but it stretches east to west for 50 miles and is an average of 7.8 miles north to south. Tourism started coming here in the 19th century, a trend that gathered pace in the early 20th century. Now thousands of retired Canadians and Americans live along the lake, drawn by its natural beauty and pleasant climate. The lake is also home to the American white pelican and the rough-footed mud turtle.
This three-bed, 3.5-bath property is perched on Chula Vista Hillside, with spectacular views out over the lake. Set over two floors, the lower floor has an open kitchen, guest bedroom and living room. The second floor has the main bedroom and guest bedroom, plus an office space. There’s also an infinity pool outside. (Golfers like me will be excited to hear there’s a golf course just a few blocks away.)
All this for a cool $792,000. Read the full details here.
Ronan McMahon, Founder, Overseas Dream Home & Real Estate Trend Alert
P.S. If you’re interested in any of these listings you should hire an attorney and do your own due diligence. We haven’t done any due diligence on them.
P.P.S. For more listings of affordable overseas dream homes, click here to follow our Your Cheap Dream Home Instagram account.
Your Daily Dream Home
Corinthia, Peloponnese, Greece
This charming two-bedroom detached house has more than 800 square feet of living space on a 13,300 square foot plot. The interior has marble floors, a fireplace, air conditioning, double-glazed windows, and tiled finishes throughout. The house contains a living room with fireplace, kitchen, two large bedrooms, and a bathroom. Below, there’s a 75-square-foot storage room and two water tanks.
The house has dual entrances, roof access for a garden terrace, and extensive grounds with ornamental plants and fruit trees. Its elevated position provides views over the Saronic Gulf.
The home is in Corinthia, birthplace of the prestigious Corinthian order of classical architecture, which stretches from the Corinth Canal to the mountains of the Peloponnese. Its Mediterranean climate brings hot, dry summers and mild winters, perfect for exploring the region’s archaeological treasures like Ancient Corinth and the Temple of Apollo. The landscape varies dramatically from coastal plains to rugged mountains, with the iconic Corinth Canal – an engineering marvel completed in 1893 – slicing through the limestone isthmus.
