There are many opportunities for those looking for Real Estate in the Smoky Mountains. Whether you are looking for an investment property, commercial property or a home to relocate to, real estate of every shape and size abounds in the cities around the Smokies.
Relocation
After you have visted the Smokies for the third or fourth time in one year, you are going to start thinking that you ought to just move to the area. And for those of us that have relocated to the SMokies, we welcome you with open arms. When you start looking, there are a few pointers that might help you in your relocation efforts:
- Look to the outlying areas for the best deals. Right in Pigeon Forge or Gatlinburg is going to cost you (even in a buyers market). Head to the cities that feed into the main towns for the best deals on land and homes.
- Check out the school systems and see what each area has to offer.
- Find a job – Unless you are retiring to the area, you are probably going to be looking for work. You will find in the Smokies as in lots of tourist areas that the jobs are seasonal, based on the number of people that are in town. If you are headed to a tourist area to live see what the seasonal jobs are going to look like and prepare yourslef and your budget accordingly.
Commercial Property
Maybe you are looking at bringing a business to the Smokies. If so, the economy boom that the area experienced and then the downturn that the country had has left many store fronts and buildings vacant. Obviously you can find a Realtor to assist you with the search for the perfect piece of property but it might be a good idea to spend some time in each of the areas. See where the traffic is actually flowing. Look for the empty store fronts, find a local and find out why they are really empty.
Don’t be suckered in by a good deal only to find out that the traffic pattern has changed and now that part of town is a ghost town during the best part of the year. Do your research and make sure that you know as much or more about the area as the Realtor before you start the actual buying process.
Investment Properties
The real estate boom in the 90s and early part of the 21st century has left a lot of cabins open for new investors to walk in and buy for a great price. In most cases, it is true that investment properties in the Smokies are cabins but of course there are exceptions to this rule. If you happen to decide that you want to get into investment real estate in the Smoky Mountains, here are a few things to watch for before you buy:
- Have the cabin inspected. Make sure that past renters and property management companies have done a good job of maintaining the cabin.
- Check the roads that your future renters will be taking into the cabin. Make sure that they are well maintained, talk to the HOA for the area the cabin is in and see who maintains the roads in winter.
- Check and see if the cabin is on city sewer, a septic tank or on a privately held utility for waste removal. This becomes crucial to know when you are dealing with issues at your rental property.
- Check out the property management company that is currently managing the cabin, see how it is renting and see what they do for the cut of the profits.
Investing in real estate in the Smokies is always a good idea but you need to do some research and make sure you know what you are getting into. The upside of a rental property in the Smokies is that you always have a place to stay when you decide that you need a break from city life and need a vacation of your own.