(CHEROKEE LAKE REALTY WRITES A WEEKLY COLUMN FOR THE GRAINGER COUNTY JOURNAL NEWSPAPER. THIS WAS A RECENT QUESTION ASKED BY A READER.)
Here we go…
First the cons. PRICE. Lakefront land will be more expensive. Especially if it’s on the main channel of the lake and is dockable. For readers that have not read some of my previous columns, there is lakefront land where you can’t build a personal dock. TVA, which manages these waterways, does not allow it for various reasons. Most folks that purchase lakefront land want to have a dock. And would like to keep their boat on their dock year-round. Because of the way TVA controls the flow of water, being on a main channel will give you deeper water to do so, as opposed to being in a cove. So, dockable, main channel, lakefront land will cost you more than lakeview. A lot more. WORK. Now, being lakefront brings its challenges. If you have a dock, there is not only the cost of building it (costs on building a dock can exceed $100,000) and maintaining it. Plus, even if you are on the main channel, because these are floating docks, they must still be manually adjusted for seasonal water levels. Lake levels rise and fall an average of 30 feet every year. This is not easy. Less so as we age. This is why you see so many docks kept aground even though there is plenty of water to play in. The owners just left them alone as the waters receded a bit. And, if you sell your boat, you still have a dock to fool with. You still want to manage it, because the day you sell your home, that dock will be an attractive feature for a future buyer. Now the pros. APPRECIATION. Prime lakefront land is limited. It will always be pricey and it will only get more so. I have a friend that sells lake property in the Knoxville area. It’s common to find lots, ¼ of an acre starting at $400,000. Prices are much lower here, but they will continue to rise. Go down to Miami and try to buy waterfront land and see how many millions it costs you. THE DREAM. Walk out of your door, stroll to your dock, load your cooler, crank your boat up, and take off. Enough said.
Now, lakeview. Cons. NO DREAM. You’re not lakefront. No strolling to your boat. You must dock it at a marina or be hauling your boat back and forth to a launching area every time you use it. LESS APPRECIATON. There is a lot more land around that will give you a view of Cherokee Lake. As we know, supply and demand always determine current and future pricing. Now the pros. LOWER PRICE. For the reasons just mentioned you will pay a lot less for a lakeview lot. NO WORK. Your view will always be there. Even when lake levels recede, your view will be enjoyed. No work involved in enjoying that. Sit on your porch or deck anytime of the day, drink your beverage and enjoy. No dealing with a dock and worrying about lake levels.
Conclusion. How much do you want to budget for land and how important is it for you to be lakefront? That will help you arrive at a decision.
