The Most Expensive Lakes in New York to Buy a Second Home

Amongst the scenic landscapes of New York State, several lakes have garnered reputations as exclusive and sought-after destinations for homeowners seeking a second home.

These lakes are known for their breathtaking beauty, luxurious properties, and abundant recreational opportunities. Consequently, they command high prices that reflect their desirability. From the majestic peaks of the Adirondack Mountains to the charming Finger Lakes region, these lakes offer a harmonious blend of natural splendor and upscale living. What are the most expensive lakes in New York to buy a second home?

In this article, we will explore the most expensive lakes in New York to buy a second home, which includes Lake Placid, Skaneateles Lake, Lake George, Canandaigua Lake, and Saratoga Lake. Discover the allure of these stunning lakes, the factors contributing to their high costs, their unique features, and the array of activities and wildlife that await those fortunate enough to call these prestigious lakeside communities their second home.

Most Expensive Lakes in New York to Buy a Second Home

Lake Placid

Nestled amidst the majestic peaks of the Adirondack Mountains in Upstate New York, Lake Placid beckons with its breathtaking beauty and tranquil charm. This lake is known for its pristine waters and captivating landscapes. It has earned a reputation as a premier destination for nature lovers, outdoor enthusiasts, and those seeking a luxurious retreat.

Spanning approximately 2,170 acres, Lake Placid is a glacially formed lake that boasts crystal-clear waters that glisten under the sun’s radiant rays. Surrounded by lush forests, rolling hills, and towering mountains, it provides a picturesque backdrop that captivates the senses. The Adirondack region, with its dense woodlands and diverse ecosystems, adds to the area’s allure, offering a haven for wildlife and an opportunity to connect with nature.

What Makes It So Expensive to Own a Home Here?

What sets Lake Placid apart from other lakes in New York State is its exclusivity and the desirability of its real estate. It is renowned for its high-end properties with hefty price tags. Several factors contribute to the expensive nature of owning a home in this area. Firstly, the limited availability of lakefront properties and the high demand from affluent buyers drive up prices. Secondly, Lake Placid’s reputation as a year-round resort town with a rich Olympic history attracts visitors worldwide, further bolstering its appeal and driving up real estate values.

Additionally, one of the unique aspects of Lake Placid is its historical significance as a two-time host of the Winter Olympics. In 1932 and again in 1980, this scenic locale was the backdrop for unforgettable Olympic moments. The remnants of the Olympic venues, including the ski jumps and the Olympic Center, continue to attract tourists and sports enthusiasts, contributing to the region’s allure.

Popular Activities

With its pristine waters and stunning surroundings, Lake Placid offers an abundance of activities for outdoor enthusiasts. In summer, boating, fishing, and swimming are popular pursuits. Canoes, kayaks, and paddleboards gracefully glide across the tranquil surface. At the same time, anglers cast their lines in search of abundant fish species such as lake trout, rainbow trout, and smallmouth bass. The lake’s calm waters also make it ideal for water skiing and wakeboarding, providing thrills for adrenaline seekers.

Moreover, as autumn sweeps across the region, Lake Placid transforms into a kaleidoscope of vibrant colors. The surrounding forests burst with red, orange, and gold hues, creating a captivating panorama. Hiking and biking trails crisscross the area, allowing visitors to immerse themselves in the beauty of nature and witness the spectacle of fall foliage.

Wildlife Found Here

Furthermore, Lake Placid’s pristine ecosystem is teeming with wildlife. On the lake, you may encounter various waterfowl species like loons, ducks, and geese gracefully gliding across the water’s surface. You might spot bald eagles soaring overhead along the shores while ospreys dive from the sky to catch their prey. The surrounding forests are home to an array of woodland creatures, including white-tailed deer, black bears, red foxes, and beavers, adding to the region’s biodiversity.

Most Expensive Home

One of the most expensive residences on Lake Placid is an 8,500-square-foot compound that was listed on the market in 2022 for $31.5 million. The main house on the compound is 6,000 square feet. The compound has nine bedrooms and eight bathrooms. This property is mere minutes from the famed Olympic Village. Features that come with this compound include vista views of the Adirondack Mountains, a guesthouse, two cottages, an Airstream, a treehouse, and an underground tunnel that leads from the main house to the guesthouse. Additional amenities include a shooting range, hot tub, outdoor lounge, tennis courts, basketball courts, and a 1,100-foot run for sledding and tobogganing.

Skaneateles Lake

Another of the most expensive lakes in New York to buy a second home is Skaneateles Lake. Located in the heart of central New York, this body of water entices visitors with its beautiful waters and captivating surroundings. This sparkling gem, known for its crystal-clear waters, offers a relaxing retreat amidst a landscape of natural beauty and charm.

Skaneateles Lake spans approximately 16 miles and is one of the Finger Lakes, a group of eleven long, narrow lakes formed by glaciers thousands of years ago. The lake is embraced by rolling hills, verdant forests, and picturesque vineyards, creating a postcard-perfect setting. The surrounding landscape features a mix of deciduous and coniferous trees, showcasing vibrant displays of autumn foliage and providing a haven for wildlife.

What Makes It So Expensive to Own a Home Here?

The exclusivity and high cost of owning a home on Skaneateles Lake are attributed to several factors. Firstly, the lake’s notable water quality is a key selling point. According to testing and analysis completed by the New York State Department of Wildlife, Skaneateles Lake has some of the best quality lake water in the state. Strict regulations and careful stewardship ensure the lake remains exceptionally clean and pollution-free. This dedication to maintaining water quality has created a highly desirable environment, driving up property values. Additionally, the limited availability of lakefront properties and the high demand for waterfront living further contribute to the high prices.

Moreover, Skaneateles Lake stands out by its remarkable water clarity. Its exceptionally clear, blue-green waters result from the lake’s geological composition and the absence of major inflows, which helps maintain its transparency. The lake’s pristine condition allows for excellent visibility, making it a paradise for boaters, anglers, and nature enthusiasts.

Popular Activities

In addition, a myriad of activities awaits those who visit Skaneateles Lake. Boating is a popular pastime, with sailboats, motorboats, and kayaks gracefully gliding across the calm waters. Fishing enthusiasts can cast their lines in search of an array of fish species, including smallmouth bass, lake trout, and yellow perch. The lake also provides a serene environment for paddleboarding, swimming, and water skiing, allowing visitors to bask in the lake’s refreshing embrace.

Skaneateles Lake is not only renowned for its water-based activities but also for its charming lakeside villages. The village of Skaneateles, perched on the lake’s eastern shore, boasts a quaint atmosphere lined with historic homes, unique boutiques, and exquisite dining establishments. Moreover, visitors can indulge in fine dining experiences with stunning lake views or stroll along the village streets, admiring the architectural charm and absorbing the small-town ambiance.

Wildlife Found Here

Furthermore, the lake and its surroundings are teeming with diverse wildlife. Skaneateles Lake provides a habitat for various fish species, including bass, trout, and perch, supporting a healthy aquatic ecosystem. Visitors may spot waterfowl along the shores, such as ducks, geese, and herons, all navigating the water’s edge. The surrounding woodlands are home to a variety of woodland creatures, including deer, raccoons, foxes, and a rich avian population. Explorers may also encounter the elusive mink or observe the graceful flight of a bald eagle soaring overhead.

Most Expensive Home

As of 2021, one of the most expensive homes on Skaneateles Lake is a 24,300-square-foot home situated on 26 acres worth $29.4 million. It has six bedrooms, an attic bunk room, nine full bathrooms, and five half-baths. Other features include a golf room, a billiards room, a game room, a gym, a theater, a pool, two offices, a library, a conservatory, a project room, and a fainting room.

The property also boasts a 2,394-square-foot gatehouse with three bedrooms and a smaller living quarter above the boathouse. There are also three barns. One barn houses a basketball court, while the others store offices and equipment. In 2019 there were plans to add a tennis court, a tennis pavilion with two squash courts, viewing areas, a bar, an outdoor pool, and a pool house.

Saratoga Lake

Saratoga Lake resides in upstate New York. It is considered one of the most expensive lakes in New York to buy a second home. It offers a peaceful oasis amidst a picturesque landscape. This stunning lake is known for its natural beauty and serene ambiance. 

Saratoga Lake spans approximately 4.5 miles, offering ample space for boating, fishing, and recreational activities. Surrounded by rolling hills, lush forests, and charming communities, the lake creates a harmonious blend of nature and human presence. The region’s rich geological history, shaped by glacial activity, contributes to the lake’s formation and gives rise to its unique characteristics.

What Makes It So Expensive to Own a Home Here?

Several factors influence the cost of owning a home near Saratoga Lake. Firstly, the lake’s proximity to the vibrant city of Saratoga Springs adds to its desirability. Saratoga Springs is renowned for its cultural events, historical charm, and horse racing heritage, attracting a sophisticated and affluent crowd. Additionally, the limited availability of lakefront properties and the high demand for waterfront living contribute to the higher prices associated with owning a home in this area.

Moreover, one of the unique aspects of Saratoga Lake is its connection to Saratoga Race Track, one of the oldest thoroughbred horse racing tracks in the United States. The lake’s proximity to the racecourse allows residents and visitors to enjoy the excitement and grandeur of horse racing events during the summer season. This combination of natural beauty and equestrian culture makes Saratoga Lake a unique destination.

Popular Activities

Furthermore, Saratoga Lake offers a range of activities for outdoor enthusiasts and water lovers. Boating is a popular pursuit, with sailboats, motorboats, and kayaks gracing the lake’s waters. The calm and clear lake provides an ideal water skiing, wakeboarding, and tubing environment, offering thrilling experiences for adrenaline seekers. Fishing enthusiasts can cast their lines in search of bass, walleye, and panfish, among other species, ensuring an enjoyable angling experience. The lake’s serene waters also invite swimmers to take a refreshing dip. At the same time, its sandy shores provide the perfect setting for sunbathing and picnicking.

Wildlife Found Here

The lake and its surrounding ecosystem are home to diverse wildlife. Saratoga Lake supports a variety of fish species, such as largemouth bass, northern pike, and yellow perch. The lake’s diverse aquatic habitat also provides a haven for waterfowl, including ducks, geese, and herons. You can spot various woodland creatures in the surrounding woodlands, including white-tailed deer, red foxes, and many bird species. Nature enthusiasts may also catch glimpses of turtles basking in the sun along the lake’s shores or witness the flight of a hawk soaring above.

Most Expensive Home

One of the most expensive homes on Lake Saratoga sits on 15 acres and was on the market for $8.9 million in 2021. It has five bedrooms, seven and a half bathrooms. The property also has a separate pool house. Features of the property and home include a club room with a bar, a sauna, an outdoor pool, a BBQ, and an outdoor fireplace, to name a few key features.

Lake George

You can find Lake George amongst the Adirondack Mountains of upstate New York. As another of the most expensive lakes in New York to buy a second home, it stands as a majestic jewel, captivating visitors with its serene beauty and enchanting landscapes. This renowned lake is often referred to as the “Queen of American Lakes.” It offers a harmonious blend of natural splendor and luxurious living.

Lake George spans approximately 32 miles in length. It stretches from the charming village of Lake George in the south to Ticonderoga in the north. The lake is flanked by verdant forests, rugged mountains, and sandy beaches. All creating a breathtaking backdrop that evokes a sense of wonder. The region’s rich geological history, shaped by glaciers, has contributed to the creation of deep, clear waters that shimmer under the sunlight.

What Makes It So Expensive to Own a Home Here?

The exclusivity and high cost of homeownership in the Lake George area can be attributed to several factors. Firstly, the lake’s reputation as a premier vacation and resort destination attracts affluent buyers who seek a luxurious retreat. The demand for lakefront properties far exceeds the supply, leading to higher prices. Additionally, Lake George’s natural beauty and pristine environment, coupled with the region’s proximity to major cities like New York City and Albany, further contribute to the desirability and subsequent cost of real estate in the area.

Moreover, what sets Lake George apart is its unique combination of natural beauty and rich history. The lake has been a cherished destination for centuries, with a legacy dating back to Native American tribes. Lake George played a significant role in the French and Indian War. Remnants of historical forts, such as Fort William Henry and Fort Ticonderoga, still stand as testaments to the area’s storied past. Visitors can explore these historic sites and gain insight into the region’s role in shaping the nation.

Popular Activities

Furthermore, Lake George offers a wealth of activities to cater to every interest and age group. Boating enthusiasts can cruise the expansive waters, enjoying the stunning vistas and exploring the various islands dotting the lake. Kayakers and paddleboarders can navigate the serene bays and coves, immersing themselves in the tranquility of nature.

Fishing enthusiasts can cast their lines in search of a variety of fish species. These include lake trout, smallmouth bass, and walleye, providing ample opportunities for a rewarding angling experience. The lake’s pristine waters also invite swimmers to take a refreshing dip or bask in the sun on its sandy shores. Hiking trails, such as the popular Tongue Mountain Range, offer scenic vistas and opportunities to explore the surrounding Adirondack wilderness.

Wildlife Found Here

Lake George is home to diverse wildlife, both in and around its waters. The lake’s clear waters provide a habitat for various fish species, including bass, trout, and salmon, making it a prime destination for anglers. Visitors may spot waterfowl along the shores, such as ducks, geese, and herons, gracefully gliding across the water’s surface. The surrounding forests are home to white-tailed deer, black bears, raccoons, and a variety of bird species. Furthermore, those who explore here may even have the chance to spot elusive creatures like otters and mink. Each adds to the allure of the lake’s natural ecosystem.

Most Expensive Home

One of the most expensive residences on Lake George is a roughly 11,000-square-foot three-level mansion. It sold for $8.35 million in 2022. It is situated on 2 acres and has seven bedrooms, six full baths, and three half-baths. Other features of this home include an indoor pool, a theater, a bar, two wine cellars, an elevator, a porch, one outdoor fireplace, four indoor fireplaces, a gym, an arcade, a private beach, and finally, a dock that can fit six boats.

Canandaigua Lake

Finally, we have Canandaigua Lake. This lake boasts as one of the most expensive lakes in New York to buy a second home as it is in the Finger Lakes region of upstate New York. This lake is a scenic paradise that enchants visitors with its plentiful waters and charming communities.

Canandaigua Lake spans approximately 15 miles, making it the fourth-largest of the eleven Finger Lakes. It is surrounded by rolling hills, verdant vineyards, and picturesque farmland. Creating a tapestry of beauty that unfolds in every direction. The lake’s name is derived from the Seneca Native American word meaning “the chosen spot.” Moreover, it reflects the region’s reputation as a favored destination for those seeking a peaceful retreat.

What Makes It So Expensive to Own a Home Here?

The cost of owning a home near Canandaigua Lake can be attributed to several factors. Firstly, the lake’s prime location is in the Finger Lakes region. It is known for its stunning landscapes and wine country, which adds to its desirability. The area attracts buyers seeking natural beauty, recreational opportunities, and a vibrant community. Additionally, the limited availability of lakefront properties and the high demand for waterfront living contribute to the higher prices associated with owning a home in this area.

Additionally, one of the unique aspects of Canandaigua Lake is its location within the Finger Lakes wine region. The lake’s proximity to vineyards and wineries offers a unique opportunity for residents and visitors to indulge in wine-tasting experiences. As well as explore the local wine culture. The region is renowned for producing a variety of cool-climate wines, including Riesling, Chardonnay, and Cabernet Franc. These add to the area’s allure and enhance the overall experience of living near Canandaigua Lake.

Popular Activities

Furthermore, Canandaigua Lake offers a plethora of activities for individuals and families to enjoy. Boating enthusiasts can cruise the lake’s calm waters, taking in the panoramic views of rolling hills and picturesque shorelines. Fishing enthusiasts can cast their lines in search of bass, trout, and panfish, among other species, ensuring a rewarding angling experience. The lake’s clear waters invite swimmers to take a refreshing dip on hot summer days. At the same time, its sandy beaches offer a perfect spot for sunbathing and passing the time. 

Canandaigua Lake is also a popular destination for kayaking, paddleboarding, and sailing. Allowing visitors to embrace the tranquility of the water while exploring the lake’s hidden coves and inlets.

Wildlife Found Here

Moreover, the lake and its surroundings are teeming with diverse wildlife. Canandaigua Lake supports many fish species, providing habitat for bass, trout, and panfish. It is common for visitors to spot waterfowl along the shoreline, such as ducks, geese, and herons, often found at the water’s surface or searching for food along the shore. The surrounding woodlands and fields are home to an array of wildlife. Woodland creatures include white-tailed deer, foxes, rabbits, and a wide variety of bird species.

Most Expensive Home

One of the most expensive homes on Canandaigua Lake is 9,520 square feet. It was listed on the market at $7.1 million in 2016. The property includes a guesthouse and boathouse. It has six bedrooms and six and a half bathrooms. Some key features of the home and property include five fireplaces, a hot tub, wrap-around terraces, an elevator, a game room, and a wine room.