If you have been following our Lakefront Living TN new listings page, you may have noticed just how fast lake homes are pending. There is a huge demand from buyers but you can still find you dream lake home at a bargain with a little help from our Lake Team. It make take some time, a reasonable budget, and openness to different locations and house criteria but by contacting us your already working with the best on the lake.
Bargain hunting may take a bit of time
In East Tennessee where we are currently in a “sellers market”, this is especially true that finding a bargain will take time and patience. And when the lakefront home does come on the market, timing is everything and you will need be ready to make an offer quickly. Many times lake homes may go under contract sight unseen if the price is right.
In fact, you may have better odds of finding your lake house in the off season for boating. Consider this: somebody who owns an East Tennessee lake house and is planning to sell is likely to hold onto it for one more summer, choosing to wait until after Labor Day to put it on the market. Research shows that the most optimal time to buy lakefront property is anywhere between October and the end of December.
Location, location, location
If it is in a area that is highly sought after, there probably won’t be too many opportunities to get a home at a bargain. What you need to do is start looking away from the beaten path. Homes in areas that aren’t as popular can often have excellent deals available since houses tend to languish on the market and a seller may be more willing to come down more on the price.
Have a budget that is appropriate for that lake
Your budget is going to have a lot of influence on how much of a bargain you can get for an lake house. Speaking with our Lake Specialists can help you get an idea of which East Tennessee lake is right for your lifestyle and what price range you can expect.
It’s worth mentioning that many buyers focus on lakefront so hard that they miss bargain homes that are off the water with fantastic lake views or in lake communities with access.
Tellico Lake Bargains
With some of the cleanest water in Tennessee, Smoky Mountain views, desirable lake communities, and limited shoreline available for development, when lake homes come up they go fast. Homes that come up outside these communities can be wonderful opportunities to live on this lake at bargain prices. CLICK HERE to see homes on Tellico Lake.
Watts Bar Lake Bargains
A great lake for lakefront bargains is Watts Bar Lake just west of Knoxville. Watts Bar is a large lake covering just over 39,000 acres and 722 miles of shoreline with many options for lakefront homes. This lake has less lake community options but perfect for those wanting a private retreat at a bargain prices. CLICK HERE to see lake homes on Watts Bar lake.
You can be featured on HGTV Lakefront Bargain Hunt!
Lakefront Living Realty is a proud provider of buyers for HGTV’s reality show “Lakefront Bargain Hunt”. New seasons of the show are casting now! All of our Lakefront Living Realty offices are seeking lakefront buyers with the following qualifications:
- Lakefront and/or Lake View buyers that are young and young at heart!
- They prefer to feature active, energetic buyers. Diversity is a plus!
- Cap of $500,000 property either currently under contract, or purchased within the last 6 months
Homebuyers and their agent will be featured in one half hour episode. Compensation will be provided for both agents and homebuyers for any network-approved stories. Please CONTACT US if you’re searching for a bargain lake house in East Tennessee and would like to be featured on the show.
Posted by Kody Millikan, REALTOR®, Lakefront Living Realty, TN