As we are watching market activity surge, prices starting a slow rise and inventory decline many of you may be asking is now the time to consider a vacant land purchase. Today we would like to take a moment to look into the benefits and things to consider before making a land purchase. There are numerous things to check into when you begin to look at an undeveloped tract of land and the first is what are your long term goals for the parcel? Are you looking at a long term investment, to build right away or to get a good deal now and build a home later? Knowing ahead of time what your end plans are will help to guide your decision making.
If you intend to purchase it as a long term investment always think about location. If the market is primarily vacation rental property and that will be the end user, where are the hot spots for vacation rentals? Certainly in this area Chalet Village, Pittman Center, Wears Valley and locations near Dollywood would be excellent choices. If you are looking for somewhere to build a second home you will want to decide what location features are to you when you are enjoying time away. Mountain view? Close to attractions? Privacy? Or for a permanent residence, what about accessibility to shopping? School district? Traffic?
Once you have determined an end use and location you will want to consider potential costs of purchasing such as a survey. Also, what amenities are present and what will have to be added? Is the property serviced by city water and sewer? If not, is there an existing well and septic or will one need to be installed?
Putting together a team to help will make your transaction go more smoothly and give you a clear picture when making a land purchase. We recommend exploring your financing options first so that when you have identified a piece of property you are prepared to make an offer. We are able to assist you with locating contractors, builders and others to be available throughout the process.
There are numerous options available in the Great Smoky Mountain area if you are considering a land purchase. Land and lot prices are still low but as existing home inventory continues to decrease and prices increase land values will start to rise. Now may be a good time to start looking at some of the great available deals on undeveloped property.
Here Are A Few Of My Featured Vacant Land Listings:
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Near Ski Resort & Downtown A great opportunity to own a lot in desirable Chalet Village and has a winter view of the mountains. Type: Land Location: Chalet Village Price: $29,900 Get more information > |
| Two For The Price Of One Two lots for the price of one and right in the city within walking distance to downtown Gatlinburg dining, shopping and attractions. Type: Land Location: Gatlinburg ,Tennessee Price: $35,000 Get more information > |
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Beautiful Ridge Top Property! Great Deal Beautiful ridge top property with level building site. Clear a few trees to have a wonderful mountain view. Driveway to the top of the ridge. VERY MOTIVATED SELLERS! Type: Land Location: Gatlinburg, Tennessee Price: $29,000 Get more information > |