p>Candlewood Lake Living & Real Estate
Candlewood Lake is one of the largest man made lakes in the country, and the largest lake in Connecticut. With other 60 miles of shoreline, Candlewood Lake is located in 5 different towns: Danbury, Brookfield, New Milford, Sherman & New Fairfield. It was created in 1928, after the power company had bought out many farmers and flooded the valley with the main reason to store water for a hydroelectric dam. Once completed, much land was bought around the lake and developed into lake communities. Over time, these communities have become a mix of about 75% year round residents and 25% weekend or summer residents.
There are many things that surprise people when they are first beginning their search for waterfront or lake community along Candlewood Lake. One of their first comments are the sizes of the lots. Most of the houses sit on anywhere from about an eighth of a acre to about half an acre. That is because land is at a premier cost. It is also that way. Secondly, there are narrow streets & parking is always a little bit tight compared to other suburban areas built since World War II. This is because the areas where developed as weekend and summer get away destinations, rather than year round homes where not as much traffic volume would be excepted. Some homes don’t even have garages since that is the way they were built back in the 1940s.
A third thing that surprises people is a lack of uniform values in lake communities, compared to typical subdivisions and neighborhoods found in the Greater Danbury area. Many of the houses started off as little bungalows and cabins as weekend or summer homes. Over the years, some of the properties have been added on to (both across & up) while others remain humble cottages. A few have been drop down to their original foundation and rebuilt entirely. In addition, some newer homes have been built on some of the remaining lots. There have been a couple of newer developments on single family homes on water & lake communities over the last few years, such as Shoreview Estates, Mill Pond, Atchison Cove and Sail Harbour, where there are exclusively newer homes of almost similar size, condition and considerably larger lot sizes than other Candlewood Lake communities.
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One thing that varies tremendously lake community is the way the Homeowner’s Association is run and the fees & amenities associated with each lake community. Some associations have very relaxed structure while others are more slight, with some communities not even allowing ‘for sale’ signs on real estate & open houses. Each association has it’s own rules & fees relating to boat dock & mooring. Yearly association dues vary from community to community, going anywhere from $75 to over $4,000. Some associations have just a small beach & boat docks, while others have things like tennis courts, ball fields, playgrounds and clubhouse. There is even an association (the Candlewood Lake Club) that even has a private nine hole golf course!
Because of these things, Candlewood Lake real estate prices do vary quite substantially. In the end, it does really just come down to three things: being on the water, having a seasonal view, or just being in a lake community. Generally speaking, a majority lake community homes do start under $300,000, with a few prestigious communities prices starting $400,000 to a minimum of about $700,000 for the newer communities (where houses were built like houses, not just enlarged bungalows & cabins). Seasonal lake views might tack an additional 5% or more on top of lake community prices,depending on how long you are see the lake & caliber of the view. Direct waterfront is a whole another ballgame when it comes to Candlewood Lake Real Estate. Generally, direct waterfront starts around $600,000 & runs up to over $20,000,000. A premium is paid for direct frontage on the lake, level waterfront area and also the view of the lake. See real estate in Candlewood Lake Communities!