Virginia’s ‘Lake Tahoe of the East’ Is One of the Best Places to Buy a Vacation Home in the U.S.
Set in opposition to the towering Blue Ridge Mountains, this scenic lake is often compared to Lake Tahoe and features abundant recreational routines.
Virginia could be regarded for its charming little towns, several wineries, and historic landmarks, but the Outdated Dominion is also dwelling to impressive lakes that draw vacationers from in close proximity to and significantly. Case in place: Smith Mountain Lake in central Virginia was a short while ago named just one of the very best places to devote in a second house, according to Evolve, ranking larger than other extra popular areas these types of as Pocono Lake in Pennsylvania and Missouri’s Lake of the Ozarks.
Kelsey Johnson/Courtesy of Virginia Tourism Corporation
Nicknamed the “Jewel of the Blue Ridge Mountains” and “Lake Tahoe of the East,” the human-produced Smith Mountain Lake boasts 500 miles of scenic shoreline and two dozen islands. It spans 40 miles, building it the next-major physique of h2o in Virginia, with outstanding leisure opportunities yr-spherical. Irrespective of whether it truly is drinking water sporting activities, mountaineering, boating, swimming, fishing, or golfing, the destination is a magnet for travelers looking for outdoor adventures on and off the lake’s apparent waters.
Joel Mulbah/Courtesy of Virginia Tourism Company
“Smith Mountain lake helps make you truly feel like you are residence as quickly as you get here,” Brenda Fichtner Bratt, a realtor with Very long & Foster Genuine Estate, explained to Vacation + Leisure, noting that the local serious estate sector is even now likely robust despite the nationwide downturn. In accordance to data from Evolve, the median listing price was $462,772, with homes achieving a cap fee of 5.1 per cent. That, coupled with an believed annually rental revenue of $33,692, designed the place 1 of the best-undertaking vacation rental markets in the state.
John Henley/Courtesy of Virginia Tourism Corporation
“Properties, condos, and town homes are rented calendar year-spherical for the reason that our region has incredibly mild seasons in comparison to our neighboring states,” added Bratt. A different draw for second-home consumers? Taxes.
“The majority of my clients come from places this sort of as northern Virginia, New Jersey, Pennsylvania, California, New York, and other states with considerably better [real estate] taxes. Considering our taxes and charges right here, purchasers unquestionably get more ‘bang for their buck’ although experiencing lake lifestyle.”
Apart from offering an countless variety of h2o things to do, like enough fishing chances, the lake is bordered by Smith Mountain Lake Condition Park to the north, which handles 1,500 acres of lovely shoreline, sandy shorelines, climbing trails, picnic locations, and an amphitheater for particular gatherings. Golfing enthusiasts have 5 classes at their disposal where by they can follow their swing, including the Robert Trent Jones-intended Mariners Landing. There, golfing facilities are complemented by tennis and pickleball courts, indoor and outdoor swimming pools, children’s playgrounds, and conditioning facilities.
Chad Williams/Courtesy of Virginia Tourism Company
In reality, Bratt has discovered that her purchasers generally focus their residence searches on the areas bordering the golfing classes.
“The Water’s Edge, The Waterfront, and Mariners Landing are really sought-right after neighborhoods to [take in] the attractive mountain and lake views even though savoring a good golfing match. Tennis courts and local community pools are also excellent choices for relatives visits or doing the job on your backhand golfing swing,” she mentioned.
Other well-liked 2nd-household destinations in the Smith Mountain Lake area contain The Boardwalk, an elegant and completely landscaped New England-style group with mid-amount and luxury lakefront properties showcasing resort-style facilities Waverly, a higher-conclusion waterfront community featuring privacy and beautiful lake views and luxury Contentment Island, with households usually in the tens of millions.
Cities this sort of as North Shore and Penhook have found far more than a whopping 30 p.c increase in dwelling sale values yr more than 12 months, and are also common for their eating and amusement choices.
SML Tourism/Courtesy of Virginia Tourism Corporation
And although stock in the Smith Mountain Lake space is scarce, according to Bratt, prospective 2nd-household potential buyers even now have a great deal of options to find their desire lake abode.
She added, “Whether it can be a cozy cottage positioned on a tranquil cove surrounded by trees, 30 minutes from the nearby grocery shop, or a condo inside of walking length to local tunes played on the weekends at your beloved sandwich shop, it’s all listed here.”
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