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LAKE PROPERTY DESCRIPTIONS
There are three kinds of property available on the lakes, DEEDED or FEE SIMPLE (privately owned) property, GEORGIA POWER LEASE LOTS and DEEDED with GEORGIA POWER LEASE STRIP.
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DEEDED OR FEE SIMPLE: Upon purchase you own all property from the road to the point the land contacts the water. Properties can be in a restricted to site build area or unrestricted area. Building requirements are based on each counties restrictions. You own all buildings, seawalls, boat docks/shelters and any other improvements. There are a number of things that determine value of a lake lot, such as, amount of water frontage, depth of water at dock, acreage, slope of lot, view and location. Price ranges vary depending on many of these features as well as location to Milledgeville and surrounding major cities.
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GEORGIA POWER LEASE LOTS: The lease lots are owned by Georgia Power and offer annual leases starting at $700 per year and increasing to $1100 per year at the end of the 15 yr contract. All contracts are sellable and transferable. These lots tend to be prime lots with great views, on good water. On a leased lot you can make any improvements (and must be approved by Georgia Power), such as building a home, seawall, dock, boathouse, pool, etc, and these improvements are owned by you. When you sell, you sell the improvements, but Georgia Power retains ownership of the land and creates a new lease with the new buyer.
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DEEDED WITH GEORGIA POWER LEASE STRIP: These properties are primarily DEEDED lots but have an area from the water level back to a point that is owned by Georgia Power. Many of these lease strips are reserved for flood plains and building restrictions apply. The annual lease fee is $300 and applies for all lease strips. Rates are set and governed by Georgia Power.
The above information is deemed reliable but not guaranteed. Contact the local Georgia Power office at 1-706-485-8704 for additional information and specific questions. |
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