July 2023 Sevier County, TN Real Estate Market Update

Homes in Sevier County, Tennessee

Average price saw a increase from $672,791 in June 2023 to $708,860 in July of 2023, which falls within the range of $640,000 and $750,000 we’ve seen throughout the year.

Days on the market saw an increase from 55 days in June 2023 to 83 days in July 2023, which is a bit higher than the range we’ve seen throughout the year at 60-77 days on the market.

Price per square foot saw an slight decrease to $378 from $383



Homes in Sevier County, Tennessee Year to Date Market Statistics



Land in Sevier County, Tennessee

The average price for land/lots during the month of July was $128.829.

Lots that sold in July spent an average of 111 days on the market.

Both Average Price was elevated in June and Days on Market saw a decrease. There have returned to metrics, much closer to what we’ve seen the rest of the year


Land in Sevier County, Tennessee Year to Date Market Statistics

Protecting Your Short Term Rental Property: Tips for Ensuring Guest Safety and Security


Ensuring your guest safety allows you to create an inviting environment which your guest wants to come back to enjoy for many years! 

We’ve gathered some tips about safety features you might like to explore for your rental property. 


Ensuring Basic Safety: Smoke Detectors, Carbon Monoxide Alarms, and More

The foundation of any safe rental property lies in the implementation of some basic, yet vital, safety measures.  These essential safety measures allow you to create a serene environment, providing the relaxing vacation your potential renters are looking for! 

  • Smoke detectors when installed in every bedroom, outside sleeping areas, and on every level of the house ensure guests are notified of the first detection of smoke 
  • Having an exit plan clearly displayed in multiple locations allows guest to quickly vacate your property if needed. 
  • Carbon monoxide when installed near sleeping areas and at least 15 feet away from fuel burning appliances alert guest of the presence of the odorless threat of carbon monoxide
  • A well stocked first aid kit allows your guest to take care of minor cuts and scraps. Accidents happen!
  • Having a fire extinguisher nearby allows guest to quickly extinguisher any small kitchen, fireplace, or grill fire. 

All of these measures combined play a crucial role in providing a safe and secure environment for your guests.


Boosting Security with Systems 

Having a security system in place helps to communicate your commitment to safety and security to your guests. There are so many security system options to choose from. Each of these systems has its own merits, and the choice would largely depend on your specific needs, budget, and the level of security you wish to provide to your guests.

  • Traditional security system – these systems are often controlled with an in property control panel that is connected to a third party monitoring system, and generally include doors and window sensors, motion detectors, and a siren.  
  • Remote security system – these systems are most often connected a Wi-Fi network and alert you directly on your phone if the system detects an anomaly. They are not often connected to emergency services. 


Creating a Safe and Secure Environment for Guests

Creating a safe and secure environment for your guests goes beyond the installation of safety features and security systems. It’s about ensuring that your property is user-friendly and caters to your guests’ needs while considering potential risks that could lead to accidents or injuries.

  • Outdoor lighting can ensure guests stay on the intended walking paths. 
  • Maintained walking paths ensure guests don’t have accidental slips or falls.
  • Handrails prevent accidents and allow guests to enjoy both interior and exterior features of your rental property.  

Providing your guests with a list of nearby hospitals and emergency contacts is another way of fostering a safe environment. In the event of a medical emergency or a crisis, having this information at hand can make a significant difference. It shows your guests that you have considered their well-being and can offer them peace of mind during their stay at your property. 


Childproofing for Young Guests

The Great Smoky Mountains is a family friendly vacation spot! Preparing your short term rental for families not only makes them feel invited, but encourages relaxation. Here are a few ways you might make young families feel invited: 

  • Safety gates  –  these can prevent adventurous toddlers from taking a dangerous tumble. 
  • Locking mechanisms on cabinets – these can keep babies and toddlers from easy access to cleaning supplies or other potentially hazardous materials.
  • Outlet covers – these are a highly effective measure to protect children from electrical shocks. 
  • Providing a high chair and crib – these can ensure young families the comfort they are used to having at home.  


Maintaining and Updating Safety Measures

Having these safety and security measures in place allows your Smoky Mountain rental property to be a safe haven for all guests that they want to return to year after year! 

After you set up these safety features you’ll want to routinely inspect and maintain them. These inspections can help identify and fix any potential issues before they become safety hazards.

  • Smoke detectors and carbon monoxide alarms should be tested frequently to ensure they’re functioning correctly and can alert guests in case of an emergency. 
  • Cabinet locks should also be checked to make sure they’re operating as intended, keeping any potentially harmful substances or items safely out of reach of curious children. 
  • Outlet covers should be inspected and replaced if lost or missing. 
  • Safety gates should be evaluated to confirm they’re in good working order and can effectively prevent accidents on staircases. Regular maintenance checks like these can go a long way in preserving the safety of your property and the wellbeing of your guests.


In conclusion, setting up safety measures inside your short-term rental property in the Great Smoky Mountains is over utmost importance. By implementing these tips, you not only enhance the security of your property but also elevate the overall guest experience! 

Entertaining Guests in Style: Creating the Perfect Game Room for Your Smoky Mountain Rental Property

As we delve into the intricacies of owning and managing a successful Short Term Rental (STR) in the Great Smoky Mountains, it’s crucial to highlight the importance of entertainment options. Offering a variety of entertaining amenities and spaces isn’t just about keeping guests occupied—it’s about enhancing their experience, creating unforgettable memories, and setting your rental property apart in a competitive market. 


Choosing the Right Theme for Your Game Room

Choosing the right theme for your game room is a key step in creating a space that is inviting, engaging, and memorable. Ideally, this theme should appeal to a wide range of age groups, ensuring that all guests, regardless of age, find the game room entertaining and welcoming. A well-chosen theme also helps to create a cohesive aesthetic and atmosphere in the room, making it more than just a place to play games—it becomes a setting for creating cherished memories. 


A Few Theme Options

Mountain Lodge Theme
A Mountain Lodge theme taps into the heart of the Smoky Mountain experience. This theme can evoke the cozy, rustic charm of a mountain retreat, coupled with the fun and excitement of a game room. Consider incorporating natural elements like wood and stone, using earth-toned colors, and adding decorative pieces that reflect the mountain and forest environment, such as antler chandeliers or nature-inspired artwork. This theme not only enhances the local character of your property but also creates a warm, inviting ambiance that appeals to all ages.

Vintage Arcade Theme
A Vintage Arcade theme can transport your guests back in time, creating a sense of nostalgia and retro fun. From neon signs to checkerboard flooring and vintage arcade games like Pac-Man or pinball machines, every detail can add to the authentic throwback experience. This theme is not only fun for adults who can reminisce about their own arcade experiences, but also for younger guests who can discover the charm of old-school gaming. The vintage arcade theme is a delightful blend of past and present, creating a game room full of character and charm.

Sports Theme
For the sports enthusiasts among your guests, a Sports-themed game room can hit a home run. Decorate with memorabilia from popular sports, use sports equipment as decorative elements (think baseball bat wall racks or a canoe paddle decor), and incorporate games related to sports, like foosball, air hockey, or a virtual golf set-up. A large screen for watching big games would also be a great addition. This theme can create a vibrant, energetic atmosphere in your game room, appealing to competitive spirits and encouraging friendly matches among guests.


Classic Games: Why It’s a Winning Move

Classic games have a timeless appeal, offering fun and engagement for guests of all ages and interests. Including these games in your short-term rental provides added value, making your property more than just a place to stay—it becomes an entertainment destination in itself. Additionally, these games create opportunities for bonding among families or friends, fostering unforgettable moments and stories that guests can take home with them. 

Pool Table
A pool table is not just a game—it’s a centerpiece that invites camaraderie and competition. It offers a fun challenge that both adults and older kids can enjoy, making it a great addition to your game room. 

Ping Pong
Ping pong, or table tennis, is another classic that’s easy to learn but hard to master, ensuring hours of fun. This game can be played one-on-one or in doubles, offering a versatile entertainment option for your guests. 

Foosball is a game that combines excitement, skill, and a touch of luck. It’s a compact game that can fit into smaller spaces yet offers big entertainment. It’s also a game that can be enjoyed by guests of all ages, making it a fantastic addition to your rental property.

Air Hockey
The fast-paced nature of air hockey makes it a thrilling game for your guests. The glow of the table, the sliding pucks, the competitive spirit—it all adds up to create a captivating and fun atmosphere.

Board Games
No game room would be complete without a selection of classic board games. They provide a break from screen time and encourage face-to-face interaction, laughter, and strategy. Plus, with a broad range of games available, from Monopoly to Scrabble, you can cater to various age groups and preferences.


Modern Amenities Matter: Arcade Games and Electronics

In the digital age, electronics and arcade games have become staples in entertainment spaces. These additions turn your short-term rental into an enticing hub of technology-based fun and relaxation. They provide an array of entertainment options that cater to different preferences and age groups, enhancing the overall guest experience. Including them in your rental can make the stay more memorable, increasing the chances of repeat bookings and glowing reviews. 

Smart TV
A Smart TV offers a vast range of entertainment options for guests, from streaming their favorite Netflix shows, catching up on the latest news, to watching live sports. It ensures that even a rainy day indoors can be filled with amusement.

Gaming Console
A gaming console caters to both young guests and those young at heart. Whether it’s action, adventure, sports, or family-friendly games, a console like an Xbox, PlayStation, or Nintendo Switch can provide hours of entertainment and bonding moments.

Sound System
A high-quality sound system enhances the overall entertainment experience. Whether guests are watching a thrilling action movie, enjoying a casual background music or hosting a mini dance party, a good sound system creates an immersive atmosphere that makes guests feel right at home.


Designing a Functional and Fun Game Room

A well-designed and functional game room can significantly enhance the appeal of your short-term rental. Not only does it provide a space for entertainment and relaxation, but it also adds value to the overall guest experience. A game room that caters to all age groups and interests, offers diverse entertainment options, and is comfortable and safe can be the deciding factor for potential renters. It turns your rental into a versatile space for families, groups of friends, and even individuals seeking a fun getaway. 

Adequate storage space is essential in a game room. It helps keep the area tidy and organized, making it easy for guests to locate and store games. Whether it’s shelving for board games, racks for pool cues, or a cabinet for video games and accessories, thoughtful storage solutions contribute to the overall usability and appearance of the room.

Good lighting is crucial in any game room. It sets the mood, creates ambiance, and is necessary for activities like reading game instructions or ensuring a clear view during a competitive game of pool. Combine ambient, task, and accent lighting to make the space versatile for different times of day and types of activities.

Safety Measures
Safety should never be overlooked, especially in a space with various electronic devices and game equipment. Ensure all electronics are installed safely, with wires neatly tucked away. Keep heavy items secure and make sure games with small parts are stored safely away from young children. Also, consider adding a first aid kit in case of minor accidents.


Incorporating Additional Entertainment Spaces

Going beyond the game room, think about other entertainment spaces that could appeal to your guests. A home theater, complete with plush seating and a large screen, is perfect for movie buffs and families. 

Incorporating a snack bar with a mini-fridge, popcorn machine, or a coffee station can add a delightful surprise and convenience for your guests.

By prioritizing entertainment in your STR, you not only make your property more appealing but also ensure guests leave with fond memories of their stay. 


Remember, in the Smoky Mountains real estate market, it’s all about offering an experience that’s as unforgettable as the region’s stunning landscapes!

Maximizing Space in Your Smoky Mountain Rental: Tips for Creating Additional Sleeping Areas


Short term rentals offer an idyllic retreat when situated in the heart of the enchanted Smoky Mountains. When it comes to accommodating larger groups, space can become a challenge, but this doesn’t have to be a problem! 

With strategic use of space in your rental, you can not only increase sleeping areas but also enhance guest comfort. This blog offers practical tips to transform tight spaces into cozy sleeping areas, ensuring each guest has a comfortable spot after a day of downtown exploration or a mountain excursion.


Understanding the Need to Accommodate Larger Groups

Accommodating larger groups is more than just providing extra sleeping areas. It’s about understanding their unique needs and using space effectively. 

For example, during a family reunion, everyone’s needs must be met – privacy for the older family members, play areas for the children, and communal spaces for family gatherings. 

Maximizing space isn’t just about fitting more people; it’s about enhancing their experience and ensuring every stay is memorable through a blend of comfort, functionality, and ease of use.


Effective Space Management in Mountain Rentals 

Managing space in mountain rentals is a unique challenge. Amidst the sweeping vistas of alpine wilderness and azure skies, your rental property stands as a sanctuary. Inside, space management is key.

Creating an inviting space for larger groups while retaining a cozy atmosphere requires strategic planning and thoughtful design. Efficiency is critical, converting small corners into welcoming nooks, using sofas that double as beds, and incorporating wall-mounted storage to declutter the floor. The natural grandeur outside should complement the comfort inside.

This ensures larger groups enjoy an unforgettable experience, reveling in the tranquility of the mountains without feeling cramped in their temporary home.


Creating Bunk Rooms and Loft Spaces 

In bunk rooms and lofts every inch is vital. Consider built-in systems around beds, like elevated beds with sliding drawers. Wall-mounted closets and bedside tables are other great options, providing ample storage without taking up too much space.

Bunk beds are convenient and space-saving, but they must also provide comfort, privacy, and functionality. Beds with built-in storage can save space and keep the room tidy. Spaces between bunks can serve as storage niches for personal items, reducing clutter. 

Other things to consider:

  • Ensure enough headroom for lower bunks to avoid a cramped feeling. 
  • Ladders or integrated steps can provide easy access without sacrificing aesthetics.
  • Individual reading lights can also create a personalized, cozy space for each guest in the shared room.

With these tips, you can transform compact loft areas and bunk rooms into efficient, versatile living spaces that put every inch to good use.


Embrace Multi-Purpose Furniture to Maximize Space

Maximize space with multi-purpose furniture that caters to various needs. Whether it’s a coffee table that expands into a dinner table or an ottoman that unfolds into a guest bed, multipurpose furniture offers space optimization while injecting a sense of surprise.

Furniture that combines form and function can turn limited space into practical and aesthetically pleasing areas. Modern designs offer built-in storage and study spaces and by converting the lower bunk into a lounge area during the day, bunk beds create multi-functional spaces that combine practicality and style.

Convertible Sofa Beds, Loft Beds, and Murphy Beds are excellent choices for multi-purpose use. Each option provides unique solutions to space constraints while maintaining style and comfort. From comfortable seating to efficient sleeping arrangements, these pieces ensure maximum utility of space.


In the heart of the Smoky Mountains, every square foot counts. 

By implementing these innovative design solutions, you can create cozy, functional sleeping areas that will appeal to many. It’s not about adding more beds, but about making the space comfortable and welcoming through efficient design and furniture choices. Unlock the potential of every corner and make your space work for you.


June 2023 Sevier County Market Statistics


Average price saw a decrease to $672,791, which is much different that the average price during June of last year at $730,233.

Days on the market for homes that closed during June was 55 days, which falls just below the range of 60 and 77 days we’ve seen this year.

Price per square foot saw an slight decrease to $383, down from $389 per square foot in May 2023.



2023 Year To Date


The average price for land/lots saw an another increase in price to $243,763. Lots that sold in June spent an average of 85 days on the market, down from 104 days in May.

Upgrade Your Smoky Mountain Rental with These High-Impact Renovations

When it comes to rental property improvement, focusing on the most effective upgrades can make a significant difference in attracting guests and increasing your rental income.

In this blog post, we’ll discuss some of the best upgrades for rental property that can dramatically enhance your Smoky Mountain property’s appeal. From kitchen makeovers to landscaping improvements, these best home improvements for rental properties will help you create an exceptional and functional space that guests will adore. 

Let’s explore these rental property improvements and discover how you can maximize your investment! 


Introduction to Rental Property Upgrades

Rental property upgrades can make a substantial difference in the overall appeal, functionality, and value of your rental property. These best home improvements for rental properties can not only increase the number of bookings you receive but also potentially increase the rental rate you can charge. 

By concentrating on these high-impact areas, you’ll be making the most of your renovation budget and ensuring that your property stands out in the competitive Smoky Mountain rental market!


Kitchen Makeover Ideas and Tips

The kitchen is often considered the heart of any home, and this is especially true for vacation rentals. Guests often choose short term rentals over hotels because they want access to a fully-equipped kitchen. 

Some high-impact kitchen investment property renovations include:

  • Updating countertops with durable and attractive materials like granite or quartz
  • Installing new, energy-efficient appliances
  • Replacing outdated cabinets with modern, functional designs
  • Adding a stylish backsplash to create visual interest
  • Improving lighting with under-cabinet and pendant lights


Bathroom Improvement Suggestions

A well-designed bathroom can make a world of difference in the overall guest experience. 

Improvements to bathrooms in your rental property can include:

  • Installing new fixtures like faucets, showerheads, and towel bars
  • Replacing old toilets with water-saving models
  • Updating vanities and countertops with modern materials and designs
  • Adding a walk-in shower or a luxurious soaking tub
  • Incorporating spa-like elements, such as heated towel rails and rain showerheads


Fireplace Enhancement Options

A cozy fireplace is a highly sought after feature in a Smoky Mountain rental property. Enhancing your fireplace can create a warm and inviting atmosphere that guests will love. 

Some fireplace rental property improvement options include:

  • Replacing dated brick or stone with a modern, streamlined design
  • Adding a gas fireplace insert for convenience and efficiency
  • Installing a custom mantel to create a focal point in the room
  • Incorporating built-in shelving or cabinets for added storage and display space


Flooring Improvement Recommendations

Updating the flooring in your rental property can have a significant impact on its overall appearance and durability. 

Consider these flooring improvement recommendations:

  • Replacing worn carpet with hardwood or luxury vinyl plank flooring for a more modern and easy-to-maintain look
  • Installing tile in high-traffic areas like the kitchen and bathrooms for durability and more easeful maintenance 
  • Adding area rugs to create warmth and define spaces within open-concept layouts


Landscaping Enhancements for Added Appeal

The exterior of your rental property is the first impression guests will have, so investing in landscaping improvements can significantly improve your property’s curb appeal. 

Some ideas for landscaping property improvement include:

  • Adding native plants and flowers to create a low-maintenance and visually appealing landscape
  • Installing outdoor lighting to highlight architectural features and provide added security
  • Creating inviting outdoor spaces with patios, decks, or fire pits for guests to enjoy


The Return on Investment for These Rental Property Upgrades

While improving your Smoky Mountain rental property may require an initial investment, the potential return on investment can be well worth it. By focusing on high-impact rental property upgrades, you can increase your property’s appeal, attract more bookings, and potentially charge higher rental rates. 

Additionally, many of these rental property improvements can also improve the overall efficiency and durability of your property, resulting in long-term savings on maintenance and utility costs!


Investing in top rental property upgrades for your Smoky Mountain rental property can have a significant impact on your rental income and overall property value. By focusing on areas like the kitchen, bathroom, fireplace, flooring, and landscaping, you can create a stunning and functional space that guests will love, ensuring your property stands out in the competitive vacation rental market.


May 2023 Market Statistics



Averaage price saw an increase to $750,609, which is less than 1,000 difference to the average price during May of last year at $749,281.

Days on the market for homes that closed during May was 76 days, which falls between the range of 60 and 77 days we’ve seen this year.

Price per square foot saw an increase to $389 per square foot, up from $358 in April and down from the $425 in May of 2022.



The average price for land/lots saw an increase in price to $107,613.

Lots that sold in May spent an average of 104 days on the market, down from 144 days in April.


New Might Be Better: Benefits of Investing in A Newly Constructed Condo

Investing in real estate is a significant decision, and when it comes to condos, the option to invest in newly constructed units holds immense potential.


In this blog post, we will explore the benefits of investing in preconstruction condos and discuss the factors that contribute to the appreciation of condo values over time. By understanding these advantages and considerations, you can make well-informed decisions about investing in newly constructed condos!


Benefits of investing in pre construction condos


Lower Purchase Price: Unlocking Value from the Start

Investing in preconstruction condos offers the potential for a lower purchase price compared to buying a completed unit. Developers often provide discounted prices or incentives during the preconstruction phase to attract buyers and secure early commitments. By entering the market at a lower cost, investors can benefit from future appreciation, potentially increasing their profits when they sell or rent out the unit.


Potential Appreciation: Riding the Wave of Value

Buying a preconstruction condo presents an opportunity for value appreciation. As construction progresses and the project nears completion, the market value of the property tends to increase. By investing early, buyers can potentially ride the wave of value appreciation, leading to potential profits when the unit is sold or rented out.


Customization and Personalization: Tailoring Your Dream Home

Purchasing a pre construction condo can potentially allow buyers to have a say in customizing and personalizing their unit. Each developer will have a specific set of standards for customization levels, so be sure to ask those questions when considering purchasing. 


Modern Amenities in Condos: Embracing Contemporary Living

Preconstruction condo projects often incorporate the latest design trends and modern amenities to attract buyers. State-of-the-art fitness centers, swimming pools, rooftop terraces, concierge services, and smart home technology are among the desirable features developers could include. Investing in a preconstruction condo allows buyers to enjoy these contemporary amenities.


Rental Income from Condos: Maximizing Returns

Preconstruction condos also present an opportunity for generating rental income. As the completion date approaches, buyers can begin marketing and securing tenants in advance, maximizing rental returns from day one. The demand for new, well-located rental units is often high, and investing in a preconstruction condo can provide a steady income stream once construction is complete.


New Building Standards in Condos: Embracing Efficiency and Peace of Mind

Investing in a preconstruction condo means becoming the first owner of a newly constructed unit. This offers the advantage of newer building standards, energy-efficient features, and warranties on appliances, systems, and structural elements. Buyers can enjoy a more modern and efficient living space, potentially reducing maintenance and utility costs.


The long-term appreciation of a condo’s value is heavily influenced by various factors, such as location, economic growth, supply and demand dynamics, amenities, market conditions, and quality of construction. 


Below, we will explore how these factors impact the appreciation of condo values over time, and how potential buyers can make informed decisions to maximize their investment in newly constructed condos.


Location and Condo Value: The Key to Long-Term Appreciation

The location of a condo plays a significant role in its long-term appreciation. Desirable locations, with proximity to amenities tend to experience higher demand and value appreciation. Investing in a condo situated in a sought-after location can lead to significant appreciation over time as the area continues to develop and attract more buyers.


Economic Growth and Condo Appreciation: A Catalyst for Value Increase

The overall economic growth of a region or city positively impacts condo values. Strong economic conditions, job growth, and increased investment in infrastructure and commercial developments contribute to rising property values. Areas experiencing economic prosperity often witness an increase in demand for housing, including condos, leading to appreciation in value.


Supply and Demand in the Condo Market: Balancing the Scales

The balance between supply and demand is a critical factor in condo value appreciation. When demand for condos exceeds the available supply, prices tend to rise. Factors such as population growth, migration patterns, and limited land availability can create a supply shortage, driving up condo values over time. Additionally, limited new construction opportunities in popular areas can further contribute to supply scarcity and potential appreciation.


Amenities and Upgrades in Condos: Enhancing Desirability

Condos with attractive amenities and well-maintained common areas tend to experience higher appreciation. Features like swimming pools, fitness centers, security systems, parking facilities, and well-managed landscaping enhance the overall desirability of the condo complex. Upgrades to individual units, such as modern finishes, energy-efficient appliances, and smart home technology, can also contribute to higher value appreciation.


Market Conditions and Condo Values: Impacting the Market

General market conditions, including interest rates, inflation, and overall real estate market trends, can impact condo values. Low interest rates can make financing more accessible, driving demand and potentially increasing prices. Market conditions that favor sellers, such as limited inventory or high demand, can contribute to appreciation. However, it’s important to consider that market conditions can fluctuate, and past performance does not guarantee future appreciation.


Quality of Construction and Condo Value: Ensuring Long-Term Value

The quality of construction and ongoing maintenance of the condo complex play a significant role in its long-term value. Well-built condos with solid construction and attention to detail tend to retain their value better over time. Additionally, effective management and proactive maintenance of the common areas and building systems contribute to the overall appeal and desirability of the condo complex, positively impacting appreciation.


Investing in newly constructed condos offers numerous benefits, including lower purchase prices, potential appreciation, customization options, modern amenities, potential rental income, newer building standards, and warranties. Factors such as location, economic growth, supply and demand dynamics, amenities, and market conditions contribute to the appreciation of condo values over time. By considering these factors and conducting thorough research, potential buyers can make informed decisions and maximize their investment in newly constructed condos.

Benefits of Buying a Preconstruction Condo: A Guide to Making a Smart Investment

Are you a property investor who has considered purchasing a preconstruction condo? 

While buying a preconstruction condo may seem like a risky investment, it can offer many advantages for property investors who are looking for a high return on investment. In this blog post, we’ll explore the benefits and drawbacks of buying a preconstruction condo as a short-term rental investment property, as well as the steps involved in the buying process. Whether you’re a seasoned investor or new to the game, read on to learn more about this exciting investment opportunity.


What exactly does it mean to purchase a preconstruction condo? 

Essentially, a preconstruction condo purchase is when you buy a property that has yet to be built. This means that you’re purchasing a promise of a future property, with the expectation that it will be completed within a certain timeframe. 

Preconstruction condos are often sold at a lower price point than completed properties, and they offer the potential for appreciation in value before move-in. 

However, there are also risks involved, such as uncertainty of completion date and the potential for project cancellation or changes to plans. 

In this blog post, we’ll explore the pros and cons of buying a preconstruction condo as a short-term rental investment property, as well as the steps involved in the buying process. Whether you’re a seasoned investor or new to the game, read on to learn more about this exciting investment opportunity! 


What are the benefits of buying a condo preconstruction?

As a short-term investor, buying a preconstruction condo can offer several benefits. 

Firstly, the lower initial costs and deposit structure can be more manageable for investors, allowing them to save up for the remaining balance over time. 

Secondly, the ability to customize and choose finishes can be attractive, as it allows investors to create a space that will appeal to potential short-term renters. 

Finally, there is the potential for appreciation in value before move-in, which can be a significant advantage for investors looking to make a profit. 

If the real estate market is strong and demand for properties is high, the value of the preconstruction condo may increase before it is even completed, making it a smart investment choice for short-term investors.


Buying a preconstruction condo doesn’t come without risks to consider. 

Firstly, there is the uncertainty of completion date and potential delays resulting from unexpected delays due to factors such as weather, labor shortages, or supply chain disruptions.

Secondly, there is the risk of project cancellation or changes to plans. While rare, it is possible for a developer to cancel a project due to financial or legal issues, or for changes to plans to occur due to factors such as zoning regulations or changes in market demand. 

It is crucial to thoroughly research the development company that is managing the pre construction condo project you are interested in. 

This can include researching the developer’s track record of completing projects on time and within budget, as well as their financial stability and ability to secure funding for the project. 

Investors should also inquire about any potential legal or zoning issues that could impact the project’s completion. 

Lastly, there is the lack of physical viewing and inspection of the property. While developers will often provide detailed floor plans and virtual tours, it can be sometimes be difficult to fully visualize the space and get a sense of the layout and flow.


What are the Steps to Buying a Preconstruction Condo

If you’ve decided that buying a preconstruction condo is the right choice for you, there are several steps involved in the buying process. Let’s take a closer look at each.

The first step in the preconstruction condo buying process is to research and select a development. Take the time to research different developers and projects, and consider factors such as location, amenities, and price. Not sure where to start?  Researching the developer’s track record of completing projects on time and within budget, as well as their financial stability and ability to secure funding is a great place to start. 

Once you’ve selected a development, it’s important to understand the deposit structure and payment schedule. Make sure you have a clear understanding of how much you will need to put down as a deposit, and when the remaining balance will be due.

Next, review the condo floor plans and amenities. Make sure the layout and size of the unit are suitable for your needs, and consider the amenities that are included, such as a gym, pool, or rooftop terrace. 

Finally, sign the purchase agreement and contract. Make sure you have a clear understanding of the terms and conditions outlined in the contract, and have considered seeking legal advice if necessary.


In conclusion, buying a preconstruction condo can offer many advantages, such as lower initial costs and potential for appreciation. However, there are also risks to consider, such as uncertainty of completion date and lack of physical viewing. If you’re interested in buying a preconstruction condo, take the time to research different developments and understand the deposit structure and payment schedule. And as always, consider seeking the advice of licensed professionals while making your long term investing decisions. 


Interested in preconstruction condos in Gatlinburg, TN?

Life at Highlands of the Smokies picks right up where one of the most cherished resorts left off – and then some.

‍Every unit boasts amazing mountain views and an open floor plan. With 10’ ceilings and full glass living room and master bedroom walls, the overall grand feel of the Great Smoky Mountains will also live inside your home. 

Click here to learn more about the development.

There is no national housing market. What’s that mean?


Realtor.com reports that “There is no national housing market” What does this mean for you? Let’s dive in.


The old adage, “location, location, location,” has never been more accurate. While the national housing market was thriving during the pandemic, things have changed since then. Rising interest rates and inflation have led to localized housing markets that vary from city to city.


The good news is that a great home is still a great home, no matter where it’s located. Move-in ready homes are still in high demand, and buyers are willing to pay a premium for them. However, the shortage of these properties means that competition is fierce.


According to Selma Hepp, chief economist of the real estate data firm CoreLogic, real estate markets in the Northeast, Midwest, and Southeast are holding up the best.


It’s essential to be aware of national trends, but they may not match the homes you’re looking for in the neighborhoods you’re searching in. That’s why we encourage you to stay informed by reading our monthly blogs that discuss market statistics for the Great Smoky Mountains. Our blogs are a great resource for both buyers and sellers in the area!


In conclusion, while the national housing market may have been thriving during the pandemic, things have changed. The housing market is becoming increasingly localized, so it’s important to research your specific area of interest thoroughly. Stay informed by checking out our monthly blogs, and happy house hunting!