Cabin vs. Condo: Smoky Mountains

[Albert Blair]

I'm looking to purchase my first STR in the Smoky Mountain area. I understand that most visitors seek the cabin style vacation experience. However, is purchasing a condo in the area a good option as well. My family went there earlier this year for the first time and really enjoyed ourselves. We did stay as a condo that was a block from the main strip, which was just two blocks from the main strip. I understand the HOA fees will apply, as well as other fees will apply. Does anyone own a condo STR in that area, and what are your experiences?

Thank you. 

[Tyler Solomon]

As someone who has stayed in both a cabin and a condo in the Smoky Mountain region, I enjoyed being a little more secluded and surrounded by nature, and really getting that "cabin feel" while being able to take in the beautiful scenery. While the condo was not bad, its proximity to town did elicit that "cabin feel", nor did its views. That is just my annectodal account however.

As for financing, condos are typically going to be more difficult to find conventional financing for, however most DSCR lenders can work with them - whether they are warrantable or non warrantable. @Brian Barch makes a good point as well with regard to the difficulty to differentiate, as well as strong (and often pricey) HOA's.