All Forum Posts by: Jonathan Rogers

My guess is the lot you are on is similar in topography as to the one for sale.  The lots in N Chatt are steep and sometimes difficult to build on, but it can easily be done.  You just have know your costs.  It will sell and something will be built as the NP school zone is highly sought after and quickly running out of land.  It all depends on your longterm goals.  If immediate cash flow is of highest importance, then I wouldn't do it.  I had the opportunity to buy a house (double lot) across from my personal residence.  I would have much preferred the older, smaller ranch home to the ugly new build, but it wasn't worth the $$$ required to preserve my view.  I'd rank what's important and work from there.  

@Alissa Laffer I completely agree with Adrienne in regards to the anticipated rent.  The only condos/townhomes that bring that level are in the upper 200s-300s price range.  I'd be skeptical of whomever told you that.  Best of luck in your search.

@Demon S Rogers I have not invested in Western NC.  I go there often (was there this weekend) and have for the past 25 years.  Unfortunately, I don't invest in a vacation rental unless I would use it often; just a rule we have which I understand wouldn't apply to most.  There are two factors which have kept me from investing, 1. too far to go after work for one night 2.too many areas to explore to be tied down to one location.  It's an amazing area with the potential for activities besides the lake.  Huge plus in my book.  

I have seriously looked at moving my permanent residence to the water around Chattanooga so I have evaluated it from every angle I can think of. Thus, many of my concerns might not be important for someone who is renting it for a weekend/investing in a STR.

Bridget,

There are a lot of questions you need to address?  Budget, proximity to the city, do you want to access downtown via boat (will determine which side of 153 dam you will be on), do you want deep water (some areas fluctuate 6 ft), dock/dockable, etc.  I am considering buying on the water as well and these are just a few things I am considering.  Honestly, the lakes in western NC are just as nice or nicer than the water in Chattanooga.  If they were closer to me I would look in Western NC over Chattanooga.  Good luck on your search.  I can recommend a good realtor or two if you need one.  

Jonathan