US vs. UK Lakeside Living: A Guide for Second Home Dreamers

Have you ever imagined starting your everyday life by sipping coffee and observing the sunrise right beyond a lake? Probably during a vacation, but living by the lakeside house, can offer you this serene and earthly feeling every day. It does not matter if your current home is not by the Lakeside. You can always toss it around.

Actually, it is your time to purchase a second home. In the last four years, around 80% of people, especially international buyers, have purchased a second home, given the work-from-home flexibility after the Pandemic. 

Let’s take a glimpse of the potential experiences that a Lakeside home can offer you in the US vs. UK context.

The Allure of the Lake District (UK)

A. Location and Setting

The beautiful Lake District is situated in North West England, surrounded by mountain ranges and Cumbria National Park. The picturesque landscape of this place has so many things to offer, such as the Windermere, the longest lake (18 km) in England; Wast Water, the deepest lake (259 feet) in England; and Scafell Pike, the country’s highest peak (978m) amid the Cumbrian mountains.

This 2362 km2 long, Cumbria National Park, established in 1951, has received UNESCO recognition in 2017 as the World Heritage Site. 

B. Lifestyle and Activities

Besides the picturesque landscapes, the Lake District preserves several prehistoric architects and monuments. Whether you are a historian or a mere explorer, these things will definitely entice you. The elongated stones standing in a circular angel come first in this list.  These popular stones, known as the Castlerigg Stone Circle, were built approximately 5,000 years ago, glorifying a spiritual past with several unsolved mysteries about its origin.

Secondly, the glimpse of the ancient royals' lifestyles and artifacts, which is reflected in the Sizer Castle and Muncaster Castle, dated back approximately 700 to 800 years ago. The Stott Park Bobbin Mill is another amusement, built 150 years ago, that makes people awe while pulling them back to the historic industrial era. 

Besides these, the Lake District upholds several historic houses. Many share a tie with famous writers, such as Wordsworth and Beatrix Potter. Dove Cottage in Grasmere village was the residence of renowned English poet William Wordsworth and his sister Dorothy. There, the poet spent nearly 87 years of his life and created some legendary literature. 

Historians confirmed many of his creations were inspired by the natural settings around his house. You can witness and feel all those uniqueness, as the houses have been kept the same way as it was then, to pay tribute Wordsworth's memory.

Another poet, Beatrix Potter’s farmhouse, is also in the Lake District, Sawrey. He created his legendary tale, Peter Rabbit, in this 17th-century house. All of those things are preserved the same way. Therefore, when the visitors come, they can look around and explore Ms. Potter’s inspirations. Many find similarities in the features mentioned in his Nobel literature.

All of these historic features and landscape diversities offer a unique opportunity for its potential residents. They can go hiking and explore the natural beauties by cycling through the troughs and crests of mountains, and the long lake trails. And if they get tired of both of these, they can come back to the historic city and get lost in the wonders.

C. Property Market

Lake District offers a range of property options, including historic houses, stone cottages, and modern lakeside builds. Compared to the surrounding areas, the properties are relatively expensive because of the high demand and the surroundings’ exclusive natural beauty. Last year, the median property sale price was £288,206.

The terraced properties were sold for £199,588, detached properties sold for £455,206, and semi-detached properties were sold for £259,744 on average. The homeowners can leverage their homes to draw income by renting the properties to tourists because the surrounding tourist spots attract a lot of people to the Lake District. 

Lakeside Living in Wisconsin, USA

A. Location and Setting

Wisconsin is the 25th-largest state in the United States, situated in the Upper Midwestern region, bordered Eastward by Lake Michigan and Northward by Lake Superior. Madison is the state’s capital and ranks second in population growth; another popular City, Milwaukee, is also situated in Wisconsin and ranks first in population.

The state is the 20th most populous in the United States, with a resident of approximately 5.9 million. Wisconsin shares a diverse landscape. As mentioned earlier, the East and North sides are surrounded by Lakes, the elongated plain occupies the Western part, and the mountainous areas stretch from the West to the South-West. The famous Chequamegon-Nicolet National Forest is situated on the Northern side.

In Wisconsin, the Lake Cities have a relatively smaller population, such as the Lake Geneva, only 8,277 people reside there. This Lake City is well connected with Milwaukee in the Southwest and Chicago in the Northwest, as a result of which tourists folks there during the holidays.

Many wealthy Chicagoans have their second homes there, mostly inherit big mansions built in the 19th century.  Lake Como is also popular among tourists, situated in Walworth County, Wisconsin, with a population of 2,356. 

A diversifying population lives there, with the majority of White (93.4%), others including Native American (0.16%), African American, Asian and others. To accommodate the large amount of tourists, both of these Lake cities have beautiful resorts.

B. Lifestyle and Activities

Whether you like warm or cold weather, Wisconsin will cover you with every choice. During the Summer, the city buzzes with music and cultural activities. Among them, the most popular is the Alpine Valley Music Theatre. There are always food trucks loaded with popular dishes from German, Spanish, and American cuisines.

Another identity of Winscon City gets revealed during the month, that is, a sip of beer. Different brewery tours are arranged at this time. Colder months are more like exploration; people folk around the nearby museums, historic places or enjoy food together amid the nature. 

Besides these, the Lake City offers unique water-based activities. Wisconsin is home to a wide range of fish species, such as muskie, walleye, largemouth bass, catfish, and northern pike. You can catch fish there to enjoy your leisure. A bonus is the mesmerizing landscape as a backdrop and the chance of tasting different fish BBQ. Well, if you want to roam around the lake, there is an option for canoeing and kayaking and wildlife watching as well.

C. Property Market

Both Lake Geneva and Lake Como offer a wide range of property options, including cabins, condos, and lakefront estates. The median home price for these areas is approximately £700,00. A one-bedroom, one-bathroom apartment costs approximately $338 per square foot. For the different house settings, the price starts from £50,000.

This price range is comparatively lower than the Lake District, which was £200,000. Another advantage in these lake-side areas of Wisconsin is diversifying entertainment opportunities with natural beauties.

This will undoubtedly attract tourists both in the Winter and Summer months, therefore an opportunity for rental income through Airbnb, where the standard rate is $150/ night. So, if your property has a 70% occupancy rate, you probably attain $38,3500 rental income before taxes. 

Wrap Up

Lakeside homes are the ultimate living place. If you are thinking of buying your second home, you should give it a try. However, the ambiance of every Lakeside home might not be equal. For example, the festive and pleasant outdoor activities of the Lakeside USA might be missing in the historic Lake District of the UK.

Here, you have to make a choice, obviously, along with the budget. Another important thing is that home values are not always the same, so do your research before making the biggest jump. Count on the leap of faith, but have satisfactory research before that.