South Down Shores

Buyer’s Guide

South Down Shores

Lake Winnipesaukee (Paugus Bay)

By Corina Cisneros, NH Real Estate Broker

Overview of South Down Shores

South Down Shores is a private, gated community in Laconia, NH, spanning about 265 acres with nearly 500 homes (single-family and condos across ~20 village associations). It boasts 4,000 feet of Lake Winnipesaukee shoreline along Paugus Bay, including sandy beaches, a beach house, and a private marina. The property is a Planned Unit Development (PUD), meaning all owners belong to the master South Down Recreation Association (SDRA), which manages common amenities and roads. Laconia Country Club borders the community, and Laconia Airport and Gunstock Ski Area are within 15 minutes – placing South Down in the heart of the Lakes Region.

An evening view from South Down Shores’ waterfront on Paugus Bay, with Adirondack chairs for residents to enjoy

Amenities & Lifestyle: South Down Shores provides a resort-like array of amenities. There’s one tennis court and two pickleball courts, a basketball court, and even a sand volleyball area. Families enjoy a children’s playground and a network of multi-purpose walking trails. In winter, those trails double for cross-country skiing or snowshoeing, and there’s a skating pond and access to groomed snowmobile trails directly from the property. The community shoreline features a private beach and beach house, complete with a lakefront deck, interior sitting area, storage lockers, and restrooms. Adirondack chairs are placed along the waterfront greenbelt for residents to relax and soak in the views. South Down Shores also has a private Boat Club with 40 boat slips, 40 moorings, and 218 dry berths (with forklift service) for boat storage. Additional perks include kayak/canoe racks, trailer storage, and golf cart usage (with free registration for owners). An active Recreation Committee and Social Committee host events and clubs (from home & garden to book clubs), fostering a friendly community vibe. In short, whether you’re a retiree seeking relaxation or a family craving adventure, South Down offers year-round recreation – from boating and swimming in summer to skiing and ice-skating in winter – all within a gated neighborhood.

Location: South Down Shores is located off Parade Road (Route 106) in Laconia. It’s a quick drive to downtown Laconia and Meredith for shopping and dining. Weirs Beach and other Lake Winnipesaukee attractions are nearby, yet the community itself feels tucked away. Residents love the balance of quiet lakeside living with convenient access to golf, skiing, and town amenities. For example, it’s ~15 minutes to Gunstock Mountain for skiing and under an hour to other White Mountain ski resorts. Boston is about 2 hours south, making this a popular spot for weekenders and seasonal owners from Massachusetts as well.

Community Structure: Villages and Home Types

South Down Shores is divided into a collection of distinct “villages,” each with its own character, housing style, and homeowner association (in addition to the master SDRA). There are roughly 20 village associations (condo communities) plus areas of stand-alone single-family homes. When you purchase in South Down, you’ll be part of SDRA (master association) and, if your home is in a village, also a member of that specific village’s HOA.

Condominium Villages: Most homes in South Down are part of condo-style villages. These range from attached townhouses and duplexes to detached condo homes. Each village sets its own monthly or quarterly HOA fee and covers certain services or maintenance for that village. For example, some villages handle all exterior maintenance of homes (roofs, siding, landscaping, snow removal), whereas others cover only common area upkeep. Village fees vary (roughly from around $300 up to $500+ per month depending on services and amenities) – on top of the master SDRA fee (currently $1,400/year, or $350/quarter). In exchange, condo owners get a more turnkey lifestyle: much of the landscaping, plowing, and exterior care is handled for you. This appeals to retirees and second-home owners who don’t want to spend weekends on yard work. Each village has its own elected officers and budget, and rules that supplement the master association rules.

Single-Family Homes: Scattered throughout South Down are traditional single-family houses on their own lots (not part of a condo village). There are about 80 built single-family homes and ~10 available lots remaining for new construction. These homes are on streets like Admiral’s Lane, Clover Lane, Hemlock Circle, and others. If you buy or build a house here, you do not pay any village HOA dues – you’re only subject to the master SDRA fee. You also have full responsibility for your home’s exterior and yard (like any standalone house).

This option is great if you prefer more independence: you can customize your landscaping, and you won’t have a condo board dictating paint colors or fine details (beyond overall South Down architectural guidelines). You’ll handle your own snow removal, landscaping, and home repairs (or hire contractors). But you still enjoy all the community amenities and gated security as a member of SDRA. Tip: These single-family lots are limited – and as of now, any new construction must go through South Down’s Building Committee for design approval and may involve builder tie-in requirements (certain lots stipulate using an approved builder).

Building Lots: On occasion, a vacant lot comes up for sale (South Down is almost built-out, but a handful remain). Purchasing a lot allows you to build a custom home within the community. It’s crucial to know that South Down has an approval process for new construction: designs must conform to aesthetic guidelines and get committee approval. In some cases, the seller (or the association) might require a specific builder or preset house plans (as noted, e.g., “builder tie-in required” for certain listings). This is to ensure new homes harmonize with the community look and are completed in a timely manner. Financing a lot plus construction is different from a conventional home mortgage – usually involving a construction loan. But once your home is built, it’s like other single-family homes in South Down: you maintain it and just pay the master association fee.

Condo vs. Single-Family – How to Choose? If you value a low-maintenance lifestyle, one of the condo villages might suit you best – your lawn will be mowed, snow plowed, and sometimes even your home’s exterior will be painted or re-roofed as needed by the association. This is perfect for buyers using the home seasonally or those who simply don’t want the hassle of upkeep. On the flip side, you will pay higher HOA dues for these services, and you’ll need to follow the village rules (for example, some limit exterior modifications, or have pet and rental rules specific to that village). If you prefer maximum freedom (within the master community rules) and perhaps a bit more privacy, an independent single-family might be better – you’ll have a yard of your own and more say over your property. Just be ready to either DIY or budget for maintenance. Either way, all owners in South Down Shores contribute to the shared amenities via the SDRA fee, so everyone enjoys the beach, trails, and common areas. 

Pros and Cons of Buying in South Down Shores

Every community has its advantages and trade-offs. Here’s a candid look at South Down Shores from a buyer’s perspective:

Pros:

• Resort-Style Amenities: You get access to a private beach, marina access, trails, sports courts, and more without leaving home. It’s rare to find a neighborhood with such a full amenity package – great for entertaining family (grandkids will love the playground and beach) and keeping active year-round (from swimming and boating to snowshoeing).

• Gated Security and Privacy: The community is gated, which means no random drive-through traffic. This added security is a big plus for seasonal owners who aren’t always home, and for those seeking a safe, walkable neighborhood for kids or evening strolls.

• Low-Maintenance Options: If you choose a condo village, much of the exterior work is done for you. Lawn care, snow plowing, trash removal – often covered by the village dues. This is ideal for second-home owners or retirees who want to travel – you can lock the door and leave, knowing your property will be cared for. Even single-family owners benefit from SDRA handling road maintenance, beach care, etc.

• Variety of Home Styles and Budgets: South Down isn’t a cookie-cutter development. As detailed above, you can find a modest 2-bedroom condo, a spacious modern detached home, or even build new. Prices likewise range from the mid/upper-$300,000s for smaller condos to $1M+ for luxury waterfront or new homes. This diversity means the community has a good mix of full-time residents, weekenders, and ages – it’s not just a 55+ community or just a vacation resort. Everyone from young families to retirees can feel at home here.

• Year-Round Living: Unlike some lake developments, South Down Shores is fully operable in winter. Roads are plowed quickly, homes are four-season, and there are winter activities (the skating pond, snowmobile trail access, etc.). Many owners live here full-time and enjoy all four seasons. If you’re considering retiring here full-time, you won’t be alone – but if you only come summers, that’s fine too (there’s a sizable seasonal population that returns each spring).

• Location, Location: Being in Laconia, you have city utilities (water/sewer), nearby medical facilities, stores, and restaurants. You’re minutes from grocery stores and only 10 minutes to quaint Meredith village. At the same time, you’re on the lake in a park-like setting. It’s an excellent balance of convenience and recreation – plus no state income tax in NH and relatively low property taxes (Laconia’s tax rate is moderate and remember, the association maintains the roads, saving the city some costs).

Cons:

• HOA Fees and Dues: The flip side of all those amenities and maintenance is the cost. In South Down, you’ll pay the master SDRA y fee ($1,400/year) and likely a village fee if not in an independent home. Some condo fees are on the higher end (several hundred dollars a month). For example, a condo owner in Birchwood or Gables might be paying ~$400–500/month to the village plus $116/month to SDRA. While this covers a lot (and can even reduce your personal expenses like gym memberships or boat storage fees), it’s a budget item to account for. Buyers need to be comfortable with fees that may increase over time for inflation or capital improvements (though major projects are usually planned and often funded by reserves or special assessments with owner votes).

• Multiple Associations and Rules: South Down has an extra layer of governance. There’s the master association (with community-wide rules) and each village may have its own set of covenants and restrictions. This means more regulations to follow. For instance, there are architectural guidelines for even minor exterior changes, rules on things like where you can store boats or trailers (hint: only in designated storage, not in your driveway), and policies for golf cart usage (registration required). While many find the rules reasonable (they keep the community looking great and running smoothly), if you chafe at the idea of any HOA telling you what to do, that’s a consideration. Even single-family homes in South Down must follow community covenants (e.g., you couldn’t paint your house neon pink or run a loud business out of it).

• Resort-Like Activity (Pros and Cons): In peak summer, South Down Shores can be a hive of activity. Families at the beach, golf carts whirring by, maybe an occasional waiting line for the bocce court. For most, that’s fun – a lively summer vibe. But if you’re seeking seclusion, remember this is not a remote cabin in the woods. It’s a neighborhood. The lakefront is shared, so you won’t have it to yourself (though Paugus Bay is large and the beach is spacious). During Laconia’s famous Motorcycle Week, and summer tourist season, the area in general gets busy (and you may hear the hum of bikes from afar), though the gated community keeps out public traffic. Winters, conversely, are very quiet – some might say a bit too quiet if you’re one of the few around in January (others would call that peaceful!).

• Limited Expansion or Personalization: Especially in the condo villages, you might find you have limited ability to expand or significantly alter your unit. Many condos have similar footprints and, aside from interior remodeling, you can’t add a garage or an extra room without association approval (if at all). Even single-family homes have to maintain exterior aesthetics in line with community standards. Also, no fencing is typically allowed (to keep an open, park-like feel), so if you want to fence in a dog or install something unique in your yard, that likely won’t fly. South Down’s rules are fairly standard for a upscale HOA, but they do require that each owner be a good neighbor aesthetically.

• Boat Slip Not Guaranteed: If you’re a boater, note that owning in South Down doesn’t automatically grant a dock slip. The South Down Boat Club (at the marina) has a limited number of slips and moorings; these are usually on a waiting list or for purchase separately (often passed from owner to owner or managed via the Boat Club committee). There is an annual lottery or assignment process for moorings. You can certainly use the day docks and boat launch, and store a boat on a trailer in the storage yard (for a fee), but if having a guaranteed slip is a priority, you might have to be patient or pay a premium when one becomes available. The good news is the marina is right there in the community and significantly more convenient than public launches – and usually less costly than renting a slip elsewhere on Winnipesaukee.

In summary, South Down Shores offers far more pros than cons for most buyers looking for a Lake Winnipesaukee area home with convenience and amenities. The cons are mostly the inherent trade-offs of any well-run community: cost and rules. For those who want an easy lakeside lifestyle and don’t mind paying for it and playing by the rules, it’s hard to beat South Down.

Real Estate Market and Pricing

Home Values: Property values in South Down Shores have shown strong growth in recent years, reflecting its desirability. In the early 2020s, median sale prices for South Down (and sister community Long Bay) were roughly $500K for condos and $800K for single-family homes. For example, in 2023 the median condo sold for about $505,000, while the median house sold for about $805,000. Compare this to 2021, when the median condo was $450K and house $675K – you can see the appreciation over just a couple of years. (Low inventory and high demand have played a role in pushing prices up.)

Price Ranges by Home Type: Generally speaking, smaller condo units (2 bedrooms, ~1,200 sq ft, off-water) might trade in the high-$300s to $400s. Larger condos (3+ bedrooms, upgraded, or with lake views) tend to be in the $500s-$700s. The premium condo units – such as waterfront townhomes in Daw Village or luxury units in the Beach Club – have reached the $800K–$1M+ mark in rare cases. Single-family detached homes in South Down often start around $700K for older or smaller ones and can exceed $1 million for newer builds or those with lake views or waterfront access. For instance, a newly built 5-bedroom in the Hamptons or a large custom home in Captains Walk can easily approach the $1–1.5M range, if not more (as of this writing, one lakefront home on Captains Walk was offered around $1.9M). Keep in mind that Long Bay, the adjacent luxury community, can influence comps on the higher end as well.

Resale Considerations: Homes in South Down tend to sell quickly when they hit the market – often within days or a few weeks, especially in spring/summer when buyers are looking (median days on market was under 2 weeks in recent years). The community’s popularity means there’s usually a steady stream of buyers waiting for the right unit. Inventory can be tight; there may only be a handful of listings at any given time. This means as a buyer, you should be prepared to act decisively when you find the unit you love. It’s not uncommon for well-priced properties in South Down to receive multiple offers. On the flip side, your investment is likely solid – South Down’s combination of lake access, amenities, and location will continue to draw buyers, which bodes well for long-term value.

Financing: Most properties in South Down Shores are eligible for conventional financing just like any home. The condo associations are well-established; lenders typically just need to review the condo budget and reserves (as with any condo purchase) to ensure the HOA is financially sound. There are no special financing restrictions by virtue of being in South Down – you can get mortgages, use cash, or even buy as a second home with a vacation home loan. Insurance might be a tad more complex for condos (the master policy covers some things, you’ll need an “HO-6” condo policy for interior/contents), but nothing out of the ordinary. One thing to budget: transfer fees or capital contribution – some villages or the master association may charge a one-time fee to new buyers (many NH associations do). It’s worth asking; typically, the SDRA has a modest transfer fee.

Policies: Rentals, Pets, and More

Rental Policy: South Down Shores does allow rentals, both long-term and short-term, but with procedures and restrictions to maintain the community’s integrity. If you plan to rent out your property (either seasonally or year-round to a tenant), you must notify and register the tenancy with the management. For short-term rentals (defined as one month or less), you need to submit a form at least two weeks prior to the renter’s arrival, listing all occupants and their vehicle info. There’s a small fee of $25 for each short-term rental period payable to SDRA. Renters are given a temporary gate access code and must adhere to all association rules (and some villages, like Colonial Hills, even require the renters sign the village regs). Notably, renters are not allowed to bring or rent golf carts in the community – only owners can operate golf carts on the property. For long-term rentals (over 30 days), a similar registration process is required (though no $25 fee in that case). The emphasis is on security and rule awareness. Also, South Down limits the number of times per year you can do short-term rentals, as well as the minimum duration, per city of Laconia regulations (you’ll want to check the latest, but Laconia had been requiring minimum 7-nights for short-term rentals in some zones). 

Bottom line: If you’re thinking of buying to rent out for income, it’s feasible – many owners do weekly summer rentals – but you must follow the procedures. Some villages might impose additional restrictions (for instance, certain villages might discourage AirBnB-type turnover if their owners prefer residential character, or as noted, the Meadows doesn’t allow renters’ pets). Always check the current village rules for any rental caps. Overall, though, South Down is owner-friendly and moderately rental-friendly – it’s not a condo-tel or transient resort, but respectful renting is allowed and common. Expect to give your renters a copy of the rules and have them treat the place like a neighborhood (quiet hours, no trailers parked on site, etc.).

Pet Policy: Pets are welcome for homeowners in South Down Shores. Many residents enjoy walking their dogs along the trails (pet waste stations are provided). The master rules require dogs to be leashed and owners to clean up – standard stuff for a community. Individual villages generally allow pets for owners, though they might limit the number (e.g., two pets per unit) or prohibit certain breeds in insurance compliance. A very important note: Renters/tenants are often not allowed to have pets. For example, the Meadows’ FAQ explicitly states tenants cannot have pets on the premises. This is quite common in condo associations to prevent issues. So if you’re an owner, you can bring Fido or Fluffy – but if you rent your place out, your tenants cannot bring their animal. Also, pets are not allowed on the beach or in common facilities for health reasons (except service animals). If you have a large dog and buy a condo without a yard, you’ll be walking them on leash for exercise – but with 265 acres, there’s plenty of space (and even adjacent forest trails). Pet owners generally find South Down very accommodating; just be mindful of barking (close quarters mean being considerate of neighbors).

Association Management: The master SDRA is professionally managed by Evergreen Management Group (with an on-site or local property manager), and some villages use Evergreen or other management, while many are self-managed by resident volunteers. This means you’ll have a go-to contact for any issues and a structured way to participate (there’s an annual meeting for SDRA and for each village where budgets and issues are voted on). As a buyer, you’ll receive a hefty resale disclosure packet with all the rules, regulations, and recent financials – it’s a lot, but very informative. I encourage buyers to read through the SDRA Covenants and Rules (for example, quiet hours, architectural rules, etc. are in there). Knowing these helps you integrate smoothly into the community.

Lifestyle Notes: South Down Shores is suitable for full-time living (school bus stops right at the gate for Laconia schools) and equally suited for vacation use. It is not an age-restricted community; all ages live and play here. The community social calendar includes events like summer barbeques, holiday gatherings, and club meetings (for those interested – totally voluntary). You’ll see a nice balance of privacy (everyone has their own space) and neighborly interaction (folks wave on golf carts, chat at the beach, etc.). Also, SDRA has policies to keep things pleasant: for instance, there are rules about noise, use of common areas, and even things like no fireworks (to prevent fire hazard and disturbance). All of that contributes to a safe, serene environment.

Finally, let’s address: 

Is South Down Shores right for you?

This community is ideal for buyers who:

• Want a move-in-ready lifestyle with recreational amenities at their fingertips (instead of spending weekends on yard work or house projects). Essentially, people who value their leisure time and want to spend it on the lake or golf course or with family, not mowing the lawn.

• Appreciate a neighborhood atmosphere. There are friendly hellos, community pride, and a sense of safety behind the gate. If you enjoy having neighbors nearby for casual socializing or knowing there’s a network looking out for the area, you’ll fit right in.

• Are looking for a second home or retirement home that can be enjoyed year-round. South Down is fantastic for multi-generational fun – grandparents can have a summer condo and invite the kids and grandkids up to enjoy the beach. Or busy professionals can have a hassle-free weekend lake retreat.

• Understand the value of an HOA: your monthly fees go into maintaining a beautiful property and providing services. If you see the trade-off as worthwhile (fees for fewer chores and more perks), then you’ll be very happy here.

It may not be ideal for buyers who:

• Desire a lot of land or seclusion. The homes (especially condos) are relatively close together. South Down is about community and convenience, not isolation. If you picture having no neighbors in sight, you might lean toward a private property in a more rural setting.

• Are extremely budget-sensitive on monthly costs. The carrying costs (HOA fees, property taxes, etc.) in South Down are significant. For example, a $500K condo might have $5K/year in HOA fees plus $8K in taxes. You get a lot for that, but if you won’t use the amenities or don’t care for services, a lower-cost lake access property elsewhere (with fewer amenities) might suit you better.

• Dislike rules of any kind. If you want to park your RV in the driveway, leave a project car up on blocks, or play loud music at midnight by a fire pit – a traditional unrestricted property would be better. South Down’s rules aren’t onerous, but they do exist to keep the peace and appearance.

• Are looking purely for an investment rental property. While you can generate rental income here, South Down is not a high-turnover vacation rental complex. The community’s culture leans toward owner-use. If you rent, you must do so in a way that respects neighbors and the guidelines. Investors seeking to run an AirBnB machine might find the oversight cumbersome and the returns a bit lower than, say, owning a multi-unit or a property in a downtown tourist spot. That said, you can definitely offset costs by renting – many owners do peak summer weeks at high rates given the lake access, just know it’s not “no strings attached.”

In closing, South Down Shores offers a unique blend of resort-like living and neighborhood charm on Lake Winnipesaukee. It has a proven track record of making homeowners happy (and a track record of real estate value, having contributed significantly to Laconia’s tax base and seen consistent demand). Whether you envision lazy summer days on the beach, crisp autumn walks on wooded trails, or festive winter nights by the fireplace after skating on the pond, this community can be your base for Lakes Region life. If the pros align with your lifestyle and the cons are ones you can accept, then South Down Shores should definitely be on your tour list.

Next Steps: I’m familiar with each village and can help pinpoint which might best suit your needs (size, budget, preferences). When you’re ready, we can schedule a tour – perhaps start with a golf cart ride around the property to get the lay of the land, then view available homes in a few different villages to compare. I can also provide the latest copies of SDRA and village bylaws for your review, and put you in touch with current residents if you’d like candid feedback. My goal is to help you find your perfect fit in South Down Shores so you can start enjoying the Lakes Region to the fullest!

Corina Cisneros – Broker | Entrepreneur | Aviator is a top-producing Real Estate Broker based in Gilford, New Hampshire, serving the Lake Winnipesaukee Region. Known for her dedication, local expertise, and personalized service, Corina consistently ranks among the top 1% of agents in the state. "Corina isn't just an agent. She is the Ethan Hunt (Mission: Impossible) of Real Estate. Strategic, unshakably calm under pressure, and relentlessly effective, she gets the job done!" Actual client testimonial. Zillow Reviews. Google Reviews.