As we start to enter the last quarter of 2020, we are waiting with bated breath to discover what the year’s end will bring us, desperately hoping the experiences will be a lot happier than the ones we’ve endured during the first three quarters. This hasn’t been the greatest year, that’s for sure, but what if we could make our own luck during the remaining months? What if something as simple as buying a new house, or selling our old one, could be the impetus for a period of time filled with good fortune and happiness? This guide to real estate updates in the Smith Mountain Lake area could be the solution to all your troubles, and our helpful and knowledgeable agents are ready to help even more!
Real estate moves in cycles. Sometimes it’s a buyer’s market, and at others it’s a seller’s market. If you’re thinking about selling, now is the perfect time! There are definitely more people ready to buy into the peace and tranquility of lake life, meaning you can expect that your piece of paradise could really help add to your coffers. Of course, the uncertain economy may mean you might have to wait a little longer for the perfect buyer, but is it that much of a heartache having to stay in your home on the lake a little longer? We didn’t think so!
Yes, it is a seller’s market, but don’t let that discourage you from making your lake life dream come true! If you have patience, vision, and a creative budget, it won’t be hard to find your piece of paradise, especially if you’re willing to purchase a plot of land and build on it. There’s no instant gratification going this route, but you won’t have to settle for someone elses dream; every cabinet, paint color, and room size will be decisions that you make on your own!
This little tidbit of news is good for everyone, as lower mortgage rates help buyers keep costs in check and allows sellers to spend a little more than they planned. Lenders are, however, demanding more from buyers before giving loans, so if you are looking to buy but your credit is a little shaky, you may want to wait a little longer and work on cleaning up your payment history.
Everyone needs a little good news in their lives right now, so if you’re ready to start the search, we’re ready to help you find the home of your dreams. Give us a call today!
Buying a house is always a big deal, whether you are buying your forever home or one that you only intend on using for vacations; the costs are the same and involve a large investment of your personal funds! The differences, however, are plentiful, and if you are thinking of purchasing a Smith Mountain Lake summer home, our home buying guide will ensure that the process will be far easier than you imagined it could be. Our helpful agents at Smith Mountain Lake Properties enjoy making our customers happy, no mater what type of property they are seeking!
Granted, summer days are a little more laid back than the rest of the year, but if you have your heart set on watching the sun rise over the lake from the back deck, your summer home will never feel like home if you don’t find a lakefront abode! And while costs may be higher on the lake, there’s usually a bargain available that may just need a little TLC to turn it into your dream escape.
If your summer home is only going to be for your purpose, choosing a smaller property with a lower number of bedrooms may be all you need. Lake life means having guests drop in at all times, but you can save space by doubling up in the bedrooms or sleeping on the couch; family is always happy with nothing fancy! If you want to rent the property out during the times you aren’t using it, however, investing in a larger property means you can rent to a wider variety of guests. Even if you just choose a home with larger rooms, you can fit more beds and host larger groups. You’ll want to consider the views available from your home as well, as a great view helps garner higher rental rates!
We all dream of that summer home decorated with canoes repurposed into bookshelves, real wood Adirondack chairs on the back porch, and a fireplace for rainy and romantic nights. But if the home you can afford doesn’t have everything you want it to have, will you be able to add it later? Initially a good working kitchen and bathroom is vital, but maybe you can add in a wood fire stove, make do with the plastic versions of your dream chairs (available in your home supply store), and maybe create that bookshelf from scratch as you work with your teens! Summer days stretch out before you long and easy, and the memories you create working together as a family to create your idea of perfection will last a lifetime.
The look on our clients’ faces when they find the summer home they’ve been dreaming about is what we live for. Give us a call today and let us help you discover the look we’ve been talking about!
Sometimes it seems that the older you get, the more complicated life becomes, and when you have to start planning for your retirement, it gets even more so! We live longer than we ever have before, which of course means you’ll need more money to live comfortably, and everyone has different ideas as to what it will take to do so! Fortunately, almost everyone agrees that investment properties are a great solution to your investment needs, as they pay for themselves first, then continue to pay you as you ride off into the sunset of retirement! This guide to what makes a good investment property will help you find the one of your dreams!
We can’t tell you what the perfect monthly expenditure on your house would be, but we can tell you what the going rental rates are in the area you are exploring. At the end of the day it involves simple math: Make sure what comes in is higher than what goes out. No matter how beautiful the home or how perfect the location, you can’t afford to be adding to your expenditures, so stay realistic and do the math! Homes are a long-term investment, and typically you won’t see immediate returns, so plan ahead for success and be prepared to accept some small losses in the beginning before you start making money.
The perfect property won’t do a thing for you if the location isn’t right, and although the Smith Mountain Lake area is friendly and popular, there are some areas your guests won’t want to live in, even for a weekend. On the plus side, there are some areas so desirable your guests won’t mind paying premium prices for, especially if they have a lake view, so let’s concentrate on purchasing in those areas! You may have to pay a little extra, but in this case, more is better, and when you see the rent checks pouring in you will definitely agree!
Travelers get bored very easily, meaning you need to provide more than just a place for your guests to rest their heads; you need swimming pools, or hot tubs, and tennis courts or a friendly neighborhood park. In other words, you need the amenities that make a vacation home turn become a vacation experience! Luxury amenities attract luxury rental checks; again, the math is easy!
We could write a book on what makes a home a good investment property, but instead, why don’t we take you to look at a few properties in the area and show you the difference? Give us a call today and let our experienced agents help you find the investment you have been waiting for your entire life!
There’s something wonderful about the water. Be it a pond, lake, or even the ocean, it draws us near, fills empty spaces in our souls, and makes us feel as if everything in our worlds will be alright. When we have the opportunity to buy a waterfront home—in this case, a lakefront home—we can’t imagine anyone turning it down. There are, however, things you may need to consider when purchasing a lakefront home on Smith Mountain Lake, and our knowledgeable realtors at Smith Mountain Lake Properties have created this guide to ensure your Smith Mountain Lake homes on the lake is truly a dream come true!
The views from the wall of windows along that back wall may be distracting, but it’s important that you get the place inspected before making it your own. Mildew, and even worse, mold can turn your dream waterfront home into a nightmare if you’re not financially prepared for the clean-up that will be involved. Settling issues, roof problems, and flooring complications can also be a major predicament you’re just not willing to deal with, making that inspection vital to your bank account and peace of mind!
If you’re purchasing the waterfront property as an investment, believe it or not, all lots are not created equal! Some spots may be too crowded and noisy, while others may have the views blocked by other buildings, trees, or overgrown foliage, leading to unhappy renters and no repeat business. Even if you are purchasing the property for your own personal use, we can help you do the research, ensuring that every aspect of your lakefront home is exactly what you dreamed it should be!
Just as electric costs rise during the on-season of where you live, popular properties often have unexpected costs that you may not be willing or able to afford. Water and sewer fees tend to be higher closer to the water, septic tanks can raise your costs, and boat dock and lift fees can be a major drain on a tight bank account. If these expenses are out of your league, you may want to look for other ways to afford your dream home or wait and save a little longer!
Nothing is more frustrating than paying too much, no matter how much you love a home, and our experienced Smith Mountain Lake Properties real estate agents are here to help keep that from happening! Give us a call today and let’s work together to make your dream come true!
As you begin to tinker with the idea of selling your current home, there are a few things you may want to consider to make your home desirable to those seeking to buy. Home prices and interest rates are going up, meaning your home may take a little longer to sell than you would like, but these tips can help you speed up the process.If you choose Smith Mountain Lake Properties for your Smith Mountain Lake real estate needs, you may just find yourself ahead of the curve!
Gone are the days when plain white walls and neutral accessories were needed to make your home sell fast; even the neutral grays that have been so popular are on their way out! Choosing the right color for your walls, however, is still important,and even though bright and vivid reds and purples are the colors you are drawn to, today’s trends offer up natural colors,with hues of green being the most sought after.
The babies born between 1981 and1996are growing up and looking for their forever homes! This younger demographic allows home sellers to take more risks with their design and décor but keeping it simple and streamlined will still show better.
The younger generations understand the internet world like none other,and smart appliances, smart light bulbs, and even smart doorbells are an asset that will move your home to the top of the yes list. For those who really want to impress, stay connected through your bathroom mirror with Seura Bathroom Mirrors; they offer mirrors that act as a digital hub, allowing you to watch your favorite home decorating show, make an appointment to get your car serviced, or check your favorite social network site, all before getting dressed in the morning!
Updated kitchens and baths sell fast, but that doesn’t mean you have to spend a fortune on new cabinets or even flooring.Sometimes a coat of paint, new drawer knobs, and a new faucet can make all the difference! Rose gold cabinet handles are all the rage, adding a delicate touch to any strong surface,and rumor has it that mixing metals is an up and coming trend.
The number one trend in the Smith Mountain Lake area? Choosing Smith Mountain Lake Properties for your Smith Mountain Lake real estate needs! We consistently get the high prices for our clients homes; give us a call today and let’s get started!
There is a lot riding on purchasing your dream house, so it is important to make sure you have all your questions answered. The time and money you invest into purchasing a dream house will be worth it in the end when you have a beautiful home to yourself. Here are the important questions to ask before purchasing your next dream Smith mountain Lake home:
The location can be incredibly important for your next dream house. You do not want to invest funds into a home that is located in an area you do not like or wish to spend time in. Instead, find an area that calls to you and makes you feel welcome. If this dream house will be your vacation property, you will want to consider how you get to the home for every trip. Having a local airport will make these trips so much easier to plan out.
Purchasing a dream home can be expensive with the initial cost and upkeep. Make sure to consider ways to have a return on your investment. Allowing your home to be used as a luxury vacation rental for others can help you earn money during the time you are away from the home. Property management services also ensures your home is properly looked after while you are away so you have nothing to worry. Earn money and have your home looked after? Now that is a great way to maintain your home!
Making sure you have the means to acquire a dream house will allow you to fully enjoy your home. As mentioned above, you can have a return on investment by purchasing your dream home in an area that creates value as a rental property. Smith Mountain Lake is one such location with incredible homes for sale and that will help you earn funds to maintain it. Many homeowners in the area offer their houses as rental options throughout the year.
If you are purchasing your next dream home in the Smith Mountain Lake area, let us help you find the perfect home. Smith Mountain Lake Properties has been helping residents of the area with all their real estate needs for years. Call us today and see how our services can help give you peace of mind when purchasing your Smith Mountain Lake home!
Buying a second home is one of the biggest investments that many families have been making over the past several years. Many see it as a great investment and way to increase their overall portfolios. But is buying a second home for you? Like with everything, there are a number of pros and cons that come with buying a second home, and if you’re in the market, there are a few things you should know about investing a second time in Smith Mountain Lake real estate:
One of the biggest reasons that many decide to purchase a second home is for it to become a source of secondary income, and times have arguably never been better to do so! A study was conducted by the Pew Research Center in 2016 that showed 36.6% of all heads of household in the United States rented their home, which equates to about 43.3 million Americans. This percentage and sheer number of renters has never been higher, and so it’s a phenomenal opportunity to rent your secondary home and make some additional cash while you’re at it!
One thing many people who are buying a second home for the first time overlook, especially if they are planning on renting out the property, is the additional expenses that come with home maintenance—especially those you may not normally have at your primary home! For example, you may never think about having a landscape at your primary home because you do all of the work yourself, but if you’re away from your second home for any significant amount of time, you know that it will take some work to keep it looking its best, thus an additional maintenance expense for a landscaper. Issues such as this, traditional maintenance, and god forbid serious issues such as the roof needing to be replaced or a pipe bursting are all additional maintenance costs to keep in mind.
There’s a certain comfort that comes with owning a second home, especially when your primary reason for purchasing is for vacationing, as you can pick the exact location of your vacation spot whenever you’d like! Say you know this perfect area of Smith Mountain Lake that you prefer to vacation at; it’s quiet, the sunrises are perfect, and the fish are always biting out on the water. Why not purchase a second home right in that area so you can visit any time you like? That way you don’t have to worry about the hassle of finding a hotel or home in the area at the time you need – just go when you want to!
This is an issue that comes up more than you think! Purchasing a second home is a big investment, both financially and with your personal time, and this pressures many homeowners into feeling that they have to stay at their second home to justify their purchase. This can lead to a significant feeling of inflexibility when planning your vacations every year, as many feel they have to stay at their second home either a certain amount of times or for a certain length of time to feel better about their purchase.
Buying a second home can certainly be both a scary and exciting time, and so if you need any help or guidance, know that Smith Mountain Lake Properties is here to help. Our world-class customer service team is ready to assist you with any questions you have about Smith Mountain Lake real estate, so don’t hesitate to contact us today!
Are you looking to expand your real estate investment portfolio, wanting to find the perfect vacation home to stay in occasionally throughout the year, or even looking for a new place to call home for the foreseeable future? If so, figuring out what to look for in your new home can be difficult. Let us take a look at what you should look out for when buying Smith Mountain Lake real estate:
The first priority when buying your house is finding a home that you want to live in. Make sure your investment is put to good use in somewhere you want to spend time in. Take your time and wait until you find that home gives you a “love at first sight” kind of feeling.
If you are spending your hard-earned money, make sure it is on a home that is not in need of repairs right away. This can dampen your celebration on purchasing your new home. Make sure you ask your real estate agent all the important questions, such as when the appliances were last replaced, when the flooring or carpet was laid down, and more.
Another thing to look out for when purchasing your own that might be obvious is finding your home in a desirable area. There is no point in finding the right home if it is in an area you do not want to live in. Areas such as Roanoke and Smith Mountain Lake are desirable areas to live, as residents are close to natural attractions and populous cities.
If you aren’t planning to live in the home full time, a great way to make a return on your investment is by renting out your home during the seasons you are away. If you purchase a home that is inviting, has access to great amenities, and is located in a popular area, you can ensure guests will continue to return for future visits. There is no better way to earn some extra income on the side than by having a property management company look after your home.
If you are looking for an affordable area to purchase your dream house, allow Smith Mountain Lake Properties to help you during your search for the perfect piece of Smith Mountain Lake real estate with our professional real estate services. Contact us so we can help you find the perfect home to match your desires!