Smith Mountain Lake certainly does have diversity! When you look around, you will see the sparkling lake surround by the gorgeous Blue Ridge Mountains. Looking at different real estate options in the area, you will find waterfront properties to golf communities!
Having diversity in the real estate market means that just about anyone can find their dream home here. Prices for real estate at Smith Mountain Lake are diverse as well. You may be surprised by what you can afford to buy. There is something for everyone’s budget, from older lakefront homes that offer great deals, to newly remodeled condos right on the water.
There are several things that can influence the value of lakefront property. Location is an important factor, and when talking about Smith Mountain Lake, the view can be just as important. You have to ask yourself what kind of view do you want to have right outside your door…mountains, water, wildlife, or all of the above. The norm is generally the better the view, the higher the price. And there are many who will gladly sacrifice a bit of privacy to wake up to a picturesque scene every day.
Another factor in the price of a waterfront home is the slope. Around SML, there are some lots that are nearly flat, with a very gentle slope that meets the water. These homes are only five to ten feet above the water level. And then there are some lots that are so steep, the owners put steps in to make it easier to reach the water’s edge. Another rule of thumb is the more gentle the slope, the higher the price. BUT, that also means that if you are willing to live on a steeper slope, you can get a nicer home for a great price!
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