We think your research efforts will show you that Lake Sinclair is one of the most affordable, large lakes in the Southeast region of the US. There are hundreds of developed properties on and around Lake Sinclair and we currently have a very good selection of properties for sale. Chances are high you can find the property of your dreams at Lake Sinclair.
Lake Sinclair is well positioned for future growth as the population in Georgia grows and the Baby Boom generation retires to property located in sunny, warm weather destinations like Lake Sinclair. Even if you are not ready to buy a developed property, you should consider buying undeveloped property. Owning the land will allow you to keep up with land appreciation through the years and your future lake home will be much more affordable. If you decide not to build on the lake lot, your Lake Sinclair property could be a good long-term investment.
There are 3 types of property ownership on Lake Sinclair. These are fully deeded (also called fee simple), lease strip and leased lot. Georgia Power owns the land on the lease strip and leased lot. Fully deeded means you own the entire lot. Lease strip means you own the entire lot except a strip along the water. The size of this strip is determined by an elevation mark on the lot. If full pool on the lake is the 340 contour line, the strip boundary is located at the 350 contour line. Lots with some slope will have a smaller lease strip than lots that are level. If you build a home in the lease strip area you have to pay the same rates as a leased lot. Don't build your home in the strip and you won't have to worry about this. Leased lot means you don't own any of the lot. The current annual lease on a strip is $100/yr. The annual lease on a leased lot starts at $1,100/yr and goes up every few years based on a set schedule. This schedule currently tops out at $1,300/yr. New, 15 year renewable leases are signed when you acquire leased lots. Georgia Power also charges a $250 - $3,000 transfer fee on leased lots. Work with a knowledgeable real estate agent if you are considering purchasing a leased lot property. Leased lot property may or may not be the right choice for you. All types of properties have appreciated over time. Fee simple and lease strip property generally appreciate better than leased lots, but there are always exceptions. Most properties are fully deeded or lease strip. Area banks offer long-term financing on all 3 types of property ownership.
There are a variety of neighborhoods on and around Lake Sinclair offering a variety of property. Some neighborhoods have restrictive covenants that only allow site-built homes and some neighborhoods have very few, if any, restrictive covenants. Historically, this lake has been dominated by weekend resident property owners who maintain full-time residences elsewhere. This mix is slowly starting to change, due in part, to an increase in retired persons moving into the area from out of state.
The west side of the lake is closer to Atlanta and Macon and property there tends to be more expensive than property on the east side of the lake. Both
sides of the lake offer great properties. The lake has entered an upgrading phase. We are seeing an increasing number of the older manufactured homes disappear because people are buying
them to obtain the property to build on. Also, some existing residents are upgrading from manufactured homes to site-built homes.
Lot sizes tend to be in the .4 - 1 acre range. Smaller and larger lots do exist. There are some larger, undeveloped properties on Lake Sinclair that could support new, large residential developments. Individual lot prices on boatable water typically start around $75K. Home prices on boatable water typically start around $145K. The lower end of the home price spectrum would typically be manufactured homes. The general rule of thumb when you browse property listings is there is almost always a reason for the price. It is a good idea to work with a top notch real estate agent who actually lives and works in the Lake Sinclair area. We think you will find our local knowledge is highly valuable in helping guide your Lake Sinclair property search.