I love buying up properties/homes near lakes and rivers. It's a hot commodity, and pretty much sells itself. I used to actually live near a lake, and I miss it so much. Used to remember waking up in the summer, running down to the lake and swimming for hours. That's what you can expect if you live right next to a lake or river.
Expect the cost for these homes to be quite high though, as houses situated near lakes and rivers sell for a lot. Even if the house is traditionally small, it potentially sell for double or triple the home cost, that is of course if the land is included with it.
Yes, they can be very expensive properties. I've sold a few of them and they make a good amount. It's mainly lakefront property that gets people talking. If you have a house with any portion of a lake, that land is worth more than the house sometimes.