Nashville Lakefront Value Factors

Factors in Lakefront Real Estate Values
Lakefront price variation is based on several things: Location, size and condition of the home, dock availability, water depth, and community growth, to name some of them.

Location, Location, Location
The well-known adage "location, location, location" relates to lakefront property as to other types of real estate. As a general rule of thumb, the further from Nashville you go, the lower the price of the real estate. However, this can somewhat be overridden by the communities surrounding the lakefront real estate. For instance, homes in Fairvue (Fairview) Plantation, a luxury home, lakefront golf community in Gallatin, can cost more than a comparable home in Hendersonville, Tennessee, even though Hendersonville is closer to Nashville than Gallatin. This is simply because of the number of newer luxury homes, and community amenities Fairvue Plantation has to offer. Lakefront homes in Mount Juliet and Lebanon, Tennessee, are usually a little less than their comparable counterparts in Hendersonville and Gallatin.

Quality and Condition of a Lakefront Home
Homes have been built along Old Hickory Lake for years. Many of the homes that were built on the lake decades ago are now in need of repair or remodeling. These home are the ones at the lower end of the price range. Homes in newer communities are priced higher. This is not only because the homes are newer, so they shouldn't need remodeling, but also because of the value of the surrounding homes. Home prices are usually based on comparable homes that have sold in the same area or subdivision. So home values in newer communities are based on the prices of the newer homes that surround it.

Dock Availability
Not all lakefront homes have docks or dock permits. Lakefront property with a dock or dock permit is worth more than lakefront property without a dock. The U.S. Corps of Engineers determines how many dock permits will be allowed along Old Hickory's shoreline. There is a need to control overcrowding of the lake, so they limit how many dock permits they will issue.

To be able to build a dock, a person must make application with the U.S. Corps of Engineers. They will come out and inspect your land to see if it qualifies to have a dock on it. If it passes their inspection, you can pay the permit fee and obtain a dock permit. For further information about obtaining a dock permit, you can visit the web site of the U.S. Corps of Engineers. Their web site has the information necessary to assist you in learning about docks and dock permits.

Another option with dock access is a lakefront subdivision with a community dock. Homes in these subdivisions can have a choice whether or not they want to pay for a slip in the community dock.

In fact, it's possible to have a lakeview home, let's say across the street from the lake, buy a slip in a community dock, and not have to pay quite as high a price as a "lakefront" lot. You could still have a view of the lake, and have dock access.

Then there are areas that have several public access boat ramps. You keep your boat at home, and drive to the nearby ramp to go fishing or water skiing.

Deep Water vs. Shallow Water Lakefront Property
There's something else to consider when choosing and pricing lakefront real estate along Old Hickory Lake. There are inlets or "coves" created by Old Hicory's varied peninsulas and jagged shorelines. Real estate along these coves and inlets is still lakefront property, but these properties may only have access to shallower water than home sites on the main channel, or "deep water". Shallow water can limit the size of boat you can dock. Additionally, the U.S. Corps of Engineers uses the Old Hickory Dam to regulate the water in Old Hickory Lake. This means that if you're on a lot with shallow water, there may be several weeks or months out of the year that your waterfront is only a few feet or even inches deep.

Community Growth: Business and Commerce
Last but not least, consider the growth of the surrounding communities. Shopping, restaurants, highway access, and proximity to Nashville are things that can make your home more valuable when it comes time to resell it.

While some people are seeking a lakefront cabin on a quiet shore, miles from nowhere, many people prefer to be closer to shopping and the conveniences of a larger town or city. Some Nashville suburbs are experiencing this type of economic growth.

Hendersonville, Tennessee will soon be the home of a Lifestyle Center similar to those in other parts of the country. It will bring old towne, main street style shopping to Hendersonville with larger retailers, restaurants and office space.

Hendersonville and Gallatin both have convenient access to the Vietnam Veteran Bypass (386), which is a clean shot to Interstate 65 to Nashville.

So buying lakefront real estate along Old Hickory Lake in Hendersonville not only offers the lakefront homebuyer access to waterfront leisure, but Hendersonville also will soon offer some of Nashville's premium shopping. This helps explain why the Hendersonville, Gallatin area real estate prices, and lakefront home prices have seen steady growth.

Interstate 40 runs east of Nashville through Mount Juliet and Lebanon, Tennessee, thereby making these cities with lakefront real estate accessible to Nashville. Also, besides a variety of restaurants and stores, Lebanon is home to the Lebanon Outlet Mall.

Making the Right Lakefront Real Estate Investment
As with all real estate investments and home purchases, there's a lot to consider.

Always keep these things in mind when evaluating your lakefront real estate investment. When in doubt, consult a real estate professional who knows the area, and knows the lake. A lakefront view may be serene and beautiful, but paying the right price will make it even sweeter.

Lakefront Property:
Back to the list of lakefront pages

TN Lakefront Areas:
Areas where you can find lakefront, and riverfront property.

Lakefront Home Pricing:
Price ranges for waterfront property in Middle Tennessee

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