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Gatlinburg's Real Estate Market
from: Jason GluckmanReal estate in Gatlinburg is thriving. While the 2000 census estimated that some 3,300 people live year-round in Gatlinburg, many thousands more visit during every season of the year. As these crowds visit Gatlinburg to enjoy the outdoor activities and other attractions, hundreds of cabins in Gatlinburg are bought and sold each year. Currently many new buildings and communities are being developed.
Rental income is a primary objective of many Gatlinburg real estate owners. More and more people are viewing ownership Gatlinburg cabins as an excellent source for supplemental income. On the high end, the cost of buying a luxurious cabin can run from $250,000 to $500,000, the rental income can easily range from $25,000 to $85,000 a year.
In considering where to buy a rental cabin, one benefit of Gatlinburg is its prime location -- within a day's driving distance of half the American populace. The close proximity, as well as the natural beauty of the surrounding Smoky Mountains, ensures that thousands of visitors will rent from owners of Gatlinburg real estate.
Even without renting, Gatlinburg real estate is a valuable asset. Over the past few years, many Gatlinburg cabin owners have experienced appreciation of 7% to 14% a year. In other words, many in Gatlinburg have seen their real estate investments outpace stock market returns. Smaller cabins can be bought directly from existing owners for as little as $75,000.
While many opt to buy cabins and chalets in Gatlinburg, others prefer the challenge and excitement of purchasing undeveloped land and building their dream cabin from the ground up. At least in the beginning stages, this option is often affordable, with many land lots starting at $15,000. As property values continue to rise, some investors are buying Gatlinburg land without the intention of building, but only holding it for a few years, and then reselling it to the highest bidder.
In addition to the financial advantages, owners of Gatlinburg real estate enjoy the area's natural and other benefits. Gatlinburg real estate can make relaxing and convenient summary escape or second-home. Some of the newest real estate developments in Gatlinburg are rental and ownership communities, which often include swimming pools, central patios, and clubhouses. In addition, there are several attractions only minutes, such as Ober Gatlinburg, Dollywood, and Ripley's Aquarium.
There are several Gatlinburg realtors online who can assist you directly with the real estate buying process.
About the Author
Gatlinburg Cabins Info provides information on Gatlinburg cabins, Gatlinburg cabin rentals, properties for sale, weddings and related topics. Gatlinburg Cabins Info is the sister site of Pigeon Forge Cabins Web.
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