Buying On The Water In The Lakes Of Tempe
June 4, 2026
June 4, 2026
If you want waterfront living in Tempe, The Lakes probably stands out fast. It offers a rare mix of shoreline homes, attached properties, and shared amenities in the middle of south Tempe, but buying here comes with rules and realities that feel different from a typical subdivision. If you are thinking about buying on the water in The Lakes, this guide will help you understand what you are really getting, what to verify before you write an offer, and how to decide if the fit is right for you. Let’s dive in.
The Lakes of Tempe is a planned community in south Tempe, located between Baseline Road, Rural Road, Southshore Drive, and McClintock Drive. City and museum records describe it as a 300-acre community built around a 50-acre man-made lake, with development beginning around 1970 and much of the neighborhood built out by the late 1970s.
That history matters when you shop here. You are not looking at a brand-new master plan with uniform homes and simple HOA rules. You are buying into an established community with a mix of housing types, mature infrastructure, and a lake-centered lifestyle that shapes how the neighborhood operates.
One thing many buyers do not expect is how varied the housing stock is. The governing documents cover single-family residences, townhomes, townhouses, patio homes, apartments, and condominiums, so your options may include a detached lakefront house, an attached home, or a condo within the same master community.
That variety can be a plus if you want flexibility in price point, maintenance level, or layout. It also means you should compare properties carefully, because two homes in The Lakes can offer very different ownership experiences depending on lot type, water access, and whether a sub-association is involved.
Not every home that markets a water setting gives you the same benefit. Some properties are true waterfront lots, some have lake views, and others sit inside the community without direct shoreline placement.
Before you move forward, verify exactly what kind of lot you are buying. You will want to know whether the property has direct water frontage, whether it includes private dock rights or access only to common slips, and whether any waterfront features have proper HOA approval.
A detached home may give you more interior space and a more traditional ownership feel, but exterior control can still be significant if you are on the lake. A townhome, patio home, or condo may offer lower-maintenance living, though you may have an added layer of rules if there is a condo or sub-association.
For many buyers, the right choice comes down to how much upkeep you want to handle and how important direct shoreline access is to your daily lifestyle. In The Lakes, the property type matters almost as much as the location within the community.
The biggest adjustment for many buyers is understanding that this is not a public recreation lake. The lake is private, engineered, and closely managed by the HOA, so waterfront ownership here comes with a specific set of use rules.
If you are picturing unrestricted lake living, it is important to reset expectations early. The experience is more like living in an amenity-rich private community than owning on an open public lake.
The Lakes allows certain types of watercraft, including electric-powered boats, kayaks, canoes, pedal boats, and sailboats. The rules prohibit swimming, require annual boat registration, and limit mooring to private docks or marina slips.
Current rules also say up to four boats are allowed per residence, and watercraft must be maintained in safe, good condition. Inflatables are not allowed, which is another example of how structured lake use is here.
Fishing is also managed as a private community activity. A Lakes fishing permit is required, the annual permit costs $15, and an Arizona state fishing permit does not apply for this lake.
The rules also note that the lake is not part of Arizona’s Urban Fishing Program and that catch-and-release practices are emphasized because the fishery is limited. If fishing is part of your lifestyle, this is worth knowing before you buy.
In The Lakes, the HOA is not a background detail. It plays an active role in exterior standards, lake use, shoreline care, and property appearance, especially for homes on or near the water.
That does not make the community good or bad by itself. It simply means you should buy here because you are comfortable with structure, not because you hope to work around it later.
Current architectural rules require written approval before changes that alter a property’s exterior appearance. That includes work visible from the street or lakefront, and the governing documents define improvements broadly enough to cover features like docks, fences, walls, and plantings.
If you are buying a home because you plan to remodel the backyard, update the dock area, or change exterior elements, make sure you understand the approval process up front. If a seller says planned work is allowed, ask whether written approval already exists.
For lake-adjacent lots, the CC&Rs create a 40-foot easement measured inward from the rear lot line for lake, shoreline, sprinkler, and landscaping maintenance. This is one of the most important details for waterfront buyers because it can affect how private and usable your backyard feels.
On paper, a lot may sound large. In practice, the lake-facing portion can feel more regulated and more limited than buyers expect in a standard subdivision.
The 2024 rules prohibit trailers, RVs, commercial vehicles, moving trucks, and similar equipment from being kept visible on the property or street, except for limited short-term loading, unloading, and window cleaning. Boat storage and mooring are also regulated.
If you need flexible parking or visible storage for larger vehicles or equipment, The Lakes may feel restrictive. That is an important lifestyle fit issue, not just a rulebook detail.
As of 2026, assessments are $405 per quarter, or $1,620 annually, with payments due in January, April, July, and October. Those fees support the operations and shared features that help define the neighborhood.
If you are comparing The Lakes to a standard subdivision, do not just compare purchase prices. Compare the full ownership picture, including HOA costs, amenity access, and compliance expectations.
If you may rent the property in the future, there are practical rules to know. The tenant registration form states that each new tenancy requires a $30 registration fee, leases must be registered, and the owner must choose whether clubhouse access stays with the owner or is assigned to the tenant.
The same form says owners remain responsible for fines and penalties tied to tenant violations. For buyers considering future leasing, that is a meaningful part of the ownership equation.
The Lakes functions more like a club community than a passive waterfront neighborhood. The Beach and Tennis Club includes tennis, pickleball, basketball, racquetball, volleyball, pool access, and clubhouse hours, and the community also highlights resident activities such as swim team, book club, and Mah Jongg.
That can be a strong advantage if you want built-in recreation and community rhythm. It also means shared amenities come with schedules, activity patterns, and occasional access limitations.
During swim season, weekday pool access can be affected by morning practices and meet-day closures. That may be a small issue for some buyers and a bigger one for others, depending on how often you expect to use the facilities.
This is a good example of why lifestyle fit matters as much as property fit in The Lakes. You are not just buying a home. You are buying into a managed, active community system.
Because The Lakes has mixed housing types, lake-use restrictions, and strong HOA oversight, due diligence matters more here than in a simpler neighborhood. A few targeted questions can help you avoid surprises.
Ask these before you remove contingencies:
The Lakes is strongest for buyers who want water-centric Tempe living, shared amenities, and a neighborhood with a distinct identity. It can be especially appealing if you like the idea of electric boating, private-club-style amenities, and a setting that feels separate from a standard suburban tract.
It may be a weaker fit if you want flexible exterior control, visible trailer or RV storage, or the freedom that comes with a public-lake environment. The key is not whether The Lakes is better or worse than another neighborhood. The key is whether its tradeoffs match the way you want to live.
If you are weighing waterfront options in Tempe, working with a team that understands the street-by-street differences, HOA layers, and resale considerations can save you time and help you buy with confidence. If you want help comparing waterfront, lake-view, and interior options in The Lakes, reach out to Daniel Birk for local guidance tailored to your goals.
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