Louisa, Orange or Spotsylvania County?
In order to build on or around the lake in any of the three counties, the basic requirement is that the property must be at least an acre. Specifically, one acre in Spotsylvania County, .92 acre in Louisa County and one acre in Orange County. This minimum acreage is set by county regulations in order to have enough land to support a secondary drain field in the event that the primary would fail. Failure of primary drain fields is a remote possibility, but if it does happen, you'll need adequate land.
Another consideration for many are the tax rates. Real Estate taxes are $0.89 per $100 of assessed value in Spotsylvania and $0.67 per $100 of assessed value in Louisa County. Personal property tax rates are $5.00 per $100 of assessed value in Spotsylvania and $1.90 per $100 of assessed value in Louisa.
Spotsylvania County property is subject to the restrictions and guidelines of the Chesapeake Bay Preservation Act, passed by the Virginia General Assembly in 1988. This means that development in the Spotsylvania County area can be a bit more complicated and costly than the other two counties. A good builder can help you with this process.
Shoreline development must be approved by Dominion Power Company formerly known as Virginia Power Company and referred to as VEPCO. The power company owns all of the shoreline surrounding the lake up to an elevation of 255 feet above sea level. Lakefront owners have a "reservation of easement" for the exclusive agricultural and recreational use of the lake. The power company promotes and encourages the recreational use of the lake and issues construction and use agreements for improvements on company owned land. Improvements include boat houses but not dwellings.
Choosing the Lot
Do you want a waterfront or water access lot? Wooded or open? Public side or private side? Choosing between a waterfront and a water access lot is a financial consideration as well as a lifestyle question. Waterfront properties obviously head the list in terms of cost. With a waterfront property, you'll have a private waterfront where you can build a dock or boathouse and in some cases have a "beach" and swim area. Prices are determined by waterfront footage and views. The bigger the view the higher the price. Next in line price-wise are water view lots. If being able to see the lake from your deck or great room is a "must", a water view lot can fill that need. Because of Lake Anna's topography, there aren't many of these around, but some are available. Finally, if being "on" the water or being able to see the lake isn't critical; consider a water access lot. With water access lots (within a subdivision), the subdivision "common area" is used to launch or dock your boat. Amenities in "common areas" vary greatly, from a simple boat- launching ramp to having your own deeded boat slip.
Property values on Lake Anna have increased significantly in the past 3-5 years. Waterfront lots generally range from a low of about $150,000 to over $500,000. Remember the bigger the view, the higher the price. The average waterfront lot is in the low 300's. Water Access lots now begin at around $70,000 and those with a water-view will cost in the range of $150,000 to $200,000
Both wooded and open lots can be found. This is a strictly a personal preference.
Public Side vs. Private Side
Another major consideration is whether to locate on the public or private side of Lake Anna. The public side is what most people know as "Lake Anna." Access is not restricted. Conversely, access to the water on the "private" side is restricted to landowners. Because it serves as the cooling lagoons, for water circulated through the power plant, the Private side is also known as the "warm" side. Year- round water temperatures on the Private side are several degrees warmer than the public side. The two sides of Lake Anna are separated by three dikes and boats cannot navigate from one side to the other.
There is little difference in the cost of properties between the public and private side of the lake. Market values are based on the individual characteristics of the lots. However, there are major differences to consider when looking at each. The main lake is almost 18 miles long and there are about 10,000 surface acres of water. The state park is on the public side as well as 6 marinas and a boat accessible restaurant.
The private side has over 3,000 surface acres and no commercial facilities. There are no marinas or public boat launching facilities which means you must take your boat to a convenience store for fuel or haul it by can to your boat. Those who live on the private side boast less boating traffic and noise. The skiers love the private side because there is less wake from other boats and the fishermen like the extended fishing season that the warmer water provides. But remember, if you have friends boating on the public side, you won't be able to visit them by water! Those who live on the public side say they favor the larger area and public facilities. If you like to sail, the main lake (public side) south of the 208 bridge is considered best as the low bridges on the north end will confine your activity. Again, it all boils down to personal preference.
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