It’s an old real estate adage: what are the top three most important things in choosing a property that will appreciate more than others?
- Location
- Location
- Location
So how do you know whether it is a good location, a great location, or a location you should run from?
I always start with great location. I will try to find for my investor or builder (or even myself) the best location! In the Great Smoky Mountains, the number one feature to make it the best location is one with a beautiful, pristine, glorious mountain view. I prefer a mountain view that is mostly the Great Smoky National Park. I value a view that has little to nothing that “spoils it.” I favor a view that is 90 percent nature! I like to control the view! In other words, I like to make sure that nothing can encroach on the view, including any space where something else might be built in the future that would obstruct or mar the view, not even if it adds to the view in a way that detracts from nature.
Secondly, I would encourage you to notice how the sun hits the property. I prefer the southern light as it will give you a bright and airy interior most of the day. The perfect house, house design, or property will give you eastern light for the sunrise, southern light throughout the day, and western light for brilliant sunsets. This is the perfect lot for a house or cabin. Our mountains and hills run from west to east, so you want to be on the southern face. This also means that if you are on the southern slope, your snow will melt immediately when the sun comes out. We don’t get a lot of snow, but we get some—and if you’re on the northern face, you may not be going anywhere for a while.
What else makes a great location in our area? Being close to the Parkway, the National Park, Pigeon Forge, or Gatlinburg are all important, but you won’t want to be too close unless you are right in Gatlinburg or Pigeon Forge. The best distance is within 20 minutes of any of this. That means you can be out in Wears Valley and go into the National Park at Metcalf Bottoms Picnic Area (Line Springs Road, sometimes called “Lyon Springs Rd.” – depends on who you are asking and what map you’re using – go figure! It’s Appalachia, baby!).
What about resort vs. not resort? You can go either way on that. Half our visitors like the “resort feel” and amenities while the other half want to be “out in the great wild natural world of the Smokies.” So, choose what suits you, especially if you intend to spend any time in the cabin.
What about close neighbors or distant neighbors? Again, half the visitors like to feel “safe” with neighbors a couple of yards away and the other half love privacy. Either will work for investing.
Speaking of neighbors, what about them, especially in places where hoarding isn’t prohibited? Well, they are probably great people with a habit of collecting spares as “one never knows when you might need a part off that ’82 Jimmy.” What appears to me to be junk still has a purpose. My husband has explained this to me many times when I have asked him to move some of his tractor implements from in front of our house. However, it’s important to know that renters tolerate it as well, which is hard to believe. But I still hesitate to invest right next to such a neighbor. We are unrestricted in Sevier County, and we are in the great, free state of Tennessee. So also pay attention to what might be allowed to move next to you if you are purchasing unrestricted land. However, the good news is that you probably will increase the property value when you purchase. This means you are the one that will prevent future devaluing of your property. Someone will not be able to afford to place a salvage yard beside you. They will move on to less expensive land around on the other side of the mountain.
What about a good location as opposed to a great one? That would be a property that has a great view, but it is a little further out. Would I choose it? Very possibly, if the view is spectacular. We’ve seen that work out many times. Just make sure the guests are rewarded when they make the drive.
Last of all, make sure the roads are passable. You can just pour a bit of gravel at the end of the drive, but it can’t be hairpin turns for five miles. You can have some steepness but not belabored. You can’t have a good investment where you have to advertise “four-wheel drive necessary.” Do not build something with a steep, sloped driveway. Most people won’t want to stay there.
Follow these guidelines and you’ll be pleased each time you send guests or when you come to enjoy your get-away place!
