Smart Money, Retirement Buying Power

Tips on Making the Best of Your Mountain Search

Asheville Skyline
Published on June 24, 2013

Buyers ask us everyday for advice about where to buy mountain property. To help you, we’ve compiled a checklist of things to consider in today’s market, to save you time and money. 

#1 TIME MANAGEMENT - Ask anyone who’s been searching for mountain property and you’ll quickly discover how arduous it is driving around to North Carolina mountain communities. These neighborhoods are spread out and are not tight knit like in urban cities. A common mistake we see is that most folks don’t allow enough time to adequately look around. Having a real estate firm like us on your side who has a bird’s eye view of what’s out there will save you a great deal of time and gas. 

#2 GATED OR NOT GATED - There are pro’s and con’s to both. The pro’s - security, conformity, and a sense of community. The con’s - too many rules, monthly fees, and cookie cutter homes that all look the same. Only you can make this choice. If you’re on the fence, the more you narrow your focus down to a specific radius, the easier your decision will become.

#3 PROPERTY OWNER REVIEWS - Neighborhoods may look bright and shiny but don’t be fooled! Bickering, undelivered promises and financial burdens may be hidden behind the entrance signs. Happy owners sometimes quickly move because of these unknown issues. We’ve collected over 1,000 property owner reviews from verified property owners. Ask us for a COMPLIMENTARY 30 DAY MEMBERSHIP PASS to see how these property owner reviews can help you get an inside glimpse about neighborhoods you’re interested in.

#4 BENCHMARK COMMUNITIES: Buying a North Carolina mountain home is about more than buying bricks and mortar. Will the neighborhood be maintained? Is the community fiscally well managed? Are the amenities worth the monthly dues? Instead of starting your search with the cheapest foreclosure or short sale, why not start by seeing role models in the industry to use as benchmarks. Here's a few award winning master planned communities in all price ranges we suggest visiting:

Balsam Mountain Preserve - Environmental Stewardship

Big Canoe - Biggest Bang for the Buck

Reynolds Plantation - Baby Boomer’s Paradise 

Tellico Village - Exemplary Financial & Social Strength

The Reserve at Lake Keowee - Fastest Growing Lake Community

Coosaw Point - Happiest Community of the Year

River Dunes - Boating Bliss on the Inner Banks

#5 LOCATION - Most of the buyers we work with, come from major metropolitan cities. After their initial mountain visit, they sometimes complain that city conveniences seem too far away. Thirty minutes sitting in city traffic can go by much quicker (because we're used to it) than driving 30 minutes on a single lane winding mountain road, but the reality is the time is the same. We find people quickly detox after they move to the mountains as they come to treasure the drive through the country side after they adjust. We feel as long as a major metropolitan city is within one hour’s drive, there is comfort in knowing there will be a major airport, quality medical care and excellent city amenities. Don’t be intimated by rural mountain drives.

#6 BUILD OR BUY EXISTING - An age old battle for many. Here again, there will be pro’s and con’s to both. We believe the pricing is about the same, except the fact that most people run over budget when they build a new North Carolina mountain home. If this is not budgeted for, it can leave a sour taste in the experience. What we recommend is that if you are considering buying land, be sure to get a second opinion from a local builder as to the estimated building costs on the lot you chose. For example, take two lots side by side and you may find the foundation costs can vary as much as $100K. 

#7 - INTEREST RATES - If you’re like me, you don’t like being pressured by sales people. But timing may now being working against us. For example, the difference between 3.5% and 6.5% interest rate on a $200,000 mortgage is $366 per month. As of today, mortgage rates have climbed to 4.46%. If you plan to finance, buy now!

#8  BUYING SEASON - The simplest example to explain ‘timing’ is when to buy a boat. The best time to buy a boat is during the winter, when it’s cold and no one is boating. The same rule applies to buying mountain property. You’ll find the best price off season. Don’t wait until the peak fall foliage season to try to catch a deal on North Carolina mountain property.

#9 PRICE INCREASE - If you’re like me, your skeptical of what you hear in the media about real estate. Is it hype or fiction? When I hear there are bidding wars here in Florida, I question the source. The fact is, it’s true! In the hottest real estate markets like Naples Florida, prices are incrementally rising because of the number of buyers in this market. Real estate developers often raise their prices because they are adding more amenities and infrastructure. Like it or not, the real estate market has bottomed out. If you find a home or property you love, expect it to be quickly sold and/or for price increases.

#10 DISCOVERY PACKAGES - If the North Carolina mountain community you’re interested in offers a Discovery Package, go! Forget a hotel. This is the best way to experience the lifestyle up close and sense the friendliness of the neighbors. 

We hope this helps! Share with us the type of home, amenities you desire and your target price range and we will send you back a list of mountain communities to consider.  Call us anytime at 866.384.1799 or write info@communityfinder.com