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We keep making trips up to Asheville and I think it's time we start looking for a property because I grew up in Tahoe and need a place to get my mountain fix. I also have an 8 and 11 year old who LOVE hiking and getting out in nature which they don't get much of living in the city. Our current location is beautiful Clearwater Beach, Florida which is great for the beach scene, but awfully flat. We are wanting to get a 2nd home somewhere up in WNC that we can use maybe one week a month and then rent out to help cover expenses.
We've spent time in most of the towns from Blowing Rock to the East, to Murphy to the West and every time my wife and I both end up with Brevard being our first choice. However, this will be just a part time residence for us and we've had a lot of fun hiking, biking, rafting, climbing, etc in other places such as Bryson City/Cherokee/GSMNP, Lake Lure/Chimney Rock, etc, so we are very open to other areas if they have higher demand for rentals or would have greater appreciation. If we were moving to WNC full-time then I think Brevard would be our top pick but when we get out of Tampa and up to the Mtns, we are all about getting outdoors into nature and Western NC has so many beautiful places so we would be fine in another town if it would be a better investment.
I've had a hard time finding tourism data on towns to compare what towns are in higher demand than others so as an outsider, it's really hard to know what areas are favorites for tourists. To us Brevard has it all, not too big and not too small with lots of stuff to do outdoors. However, it wasn't even on our radar when we started visiting WNC. We'd drive through it on the way to other towns like Cashiers/Highlands/Murphy/Lake Chatuge and it always had such a great feel so we spent a week there last week to explore it more.
However, talking to a Realtor in Brevard, he made it sound like there isn't a lot of movement or appreciation on properties there which was surprising to us. He mentioned that land has actually depreciated over the past year and lots are very cheap. Does anyone know why this is? My parents had gone out with Realtors around Asheville a few weeks prior and gotten a completely different vibe on the general market in WNC which seemed in high-demand.
We'd love any advice on areas to look, as well as, types of properties that are in highest demand for rentals. We don't want to spend a lot more money for a place with great views or on a stream or lake only to find out that the additional rental income doesn't support the greater expense. Likewise, we don't want to get something cheaper if people are really looking for something unique.
You'll hear from many the blah-blah about how Brevard is "isolated" and not an easy trip into Ashevile, etc. to which to me (and I'm sure others) holds some charm over the fact it's not going to become overdeveloped. There probably isn't a lot of movement on properties currently though I'm sure like most areas it runs cyclical. Many like yourselves (and I) have fallen for Brevard's charms and don't see that changing anytime soon. If it's really where you want to be go for it, and would look at the current down market as your opportunity since it's going to come back at some point.
Thanks for the post! It's so funny when I hear about people talk about the drive from Brevard to Asheville as long. One of the reasons we go to WNC is for the scenic driving so we are looking for any excuse to go on a nice drive. Heck, where I live in Clearwater Beach it take an an hour to go 10 miles during Spring Break tourist season.
Anyone else have suggestions of what areas would be good for a 2nd home/vrbo?
Asheville is definitely the top tourist spot in the mountains. Any place close to Asheville will probably rent well.
Blowing Rock is popular, too, but probably more so with folks in NC. It's the easiest drive from all the urban centers (Asheville and Blowing Rock are about the same for Charlotte).
Folks from other states know Asheville and the Smokies.
I think Brevard is loverly and if that's where you want to be then go for it. Do your research on the number of rental properties in the area (look at VRBO, TripAdvisor, etc) and check how many weeks the desirable ones are rented.
We don't want to spend a lot more money for a place with great views or on a stream or lake only to find out that the additional rental income doesn't support the greater expense. Likewise, we don't want to get something cheaper if people are really looking for something unique.
Spend some time looking at vacations rentals on VRBO and look at their booking calendars to see how well they're doing. A lot of reservations are done months in advance, so you can get an idea. You can also look at reviews and ratings to get an idea of what people are looking for. Some properties are always in demand.
There are lots of great vacation rentals in the Brevard area, so clearly the location works. Brevard would appeal to people who really want close proximity to forests and waterfalls or mountain biking. Assets like natural settings, views, amenities, upkeep, and the perceived value in comparison with other rentals will be the factors in your success.
Personally if I'm looking at several rentals that are roughly the same in all the above areas, I'm going for the best decorated one. Vacationers are buying an experience and memories.
I don't know if it's still available, but there used to be a particular vacation rental in Brevard that knocked my socks off in the decor department. The reviews were equally enthusiastic and they were always booked. It was the type of place that was so memorable that they had a lot of repeat bookings.
If you're still considering other areas I would also add perhaps Banner Elk as an option. It's in a great location convenient to Boone and Blowing Rock, the ski resorts at Beech Mountain/Sugar Mountain/Seven Devils as well as Grandfather Mountain and Linville Falls. It's also fairly close to Tri-Cities Airport in Johnson City TN (served by Allegiant, American and Delta) and has the perk for many afraid of steep mountain inclines of being fairly flat versus some areas surrounding it.
If you're still considering other areas I would also add perhaps Banner Elk as an option. It's in a great location convenient to Boone and Blowing Rock, the ski resorts at Beech Mountain/Sugar Mountain/Seven Devils as well as Grandfather Mountain and Linville Falls. It's also fairly close to Tri-Cities Airport in Johnson City TN (served by Allegiant, American and Delta) and has the perk for many afraid of steep mountain inclines of being fairly flat versus some areas surrounding it.
Seven Devils hasn't had skiing for quite a few years. Hawknest (in Seven Devils) currently offers tubing in the winter and zipline in the summer. There are quite a few steep/narrow/twisty mountain roads in the area. At 3,800 +/- elevation, it's not flat. Having said that, it's a great area to live in.
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