Benefits of Working with a Realtor for a Smith Mountain Lake Luxury Property
With a picturesque view of turquoise lake waters and scenic mountain ranges, Smith Mountain Lake also goes by the name “Crown Jewel of the Blue Ridge” and “Virginia’s Best Kept Secret.” For those who’ve spent time in Smith Mountain Lake on holiday, many have returned to purchase a home, either to move in permanently or to have a vacation home they can call their own. With so many wide open spaces, nature views, and recreational activities, it is no surprise that people just can’t resist the charm of Smith Mountain Lake.
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Surrounded by the three counties of Franklin, Bedford, and Pittsylvania, Smith Mountain Lake offers a wide range of properties including waterfront, cabins, homes, townhomes, cottages, condos, and lots.
Whether you’re in the market for a simpler cabin or a more expansive luxury home, it’s especially important to have a knowledgeable Smith Mountain Lake Realtor by your side. In this article, you’ll find out:
- Why you need the guidance and expertise of a Smith Mountain Lake Realtor
- The qualities of good Realtor
- The essentials of a luxury home
- 10 things you need to know before buying a luxury home in Smith Mountain Lake
ABOUT SMITH MOUNTAIN LAKE
Formed in the 1960s as part of the power generation project of the Appalachian Power of the American Electric Power (AE) project, Smith Mountain Lake came into being because of a 235-foot dam erected by the Smith Mountain and the Roanoke River. The main channel of the lake is approximately 40 miles with an elevation of 795 feet above sea level, with the two major rivers The Roanoke River and the Blackwater River joining. It also has over 500 miles of shoreline that allows different activities for guests and residents.
Experiences you can enjoy in Smith Mountain Lake are:
- Swimming
- Jet skiing
- Wakeboarding
- Kneeboarding and tubing
- Kayaking
- Canoeing
- Paddle boarding
- Rowing
- Boating
- Fishing for striped bass, largemouth bass, smallmouth bass, crappie, brim, catfish, and walleye
There’s more to enjoy outside of the water:
- Hikers will be pleased to know there are trails in the area that are perfect for camping and birdwatching
- Golfers will take to the expertly designed golf courses in Smith Mountain Lake
- Resorts, spas, and restaurants are plentiful
Where to stay in Smith Mountain Lake
The southwestern area of Smith Mountain Lake has newer residences and restricted short-term vacation rentals. The Westlake Corner and the Westlake Towne Center, one of the biggest commercial spaces in the area, offer brick-and-mortar shopping.
Bedford County lies in the northern and eastern areas of the lake. Bedford is ideal for holiday and long-term rentals, with hotels and residential subdivisions.
Pittsylvania in the far southeast has a more laid back and private environment. Here, Vista Pointe Condos offer the best views.
BUYING LUXURY REAL ESTATE
Prime location. While location is the top consideration for all property types, its importance is magnified when it comes to buying luxury property. Neighborhoods may be guard-gated. Properties may be far flung or secluded for utmost privacy, or else in close proximity to city centers with a wider choice of amenities. The community vibe is one of exclusivity, affluence, tranquility, and safety.
Square footage. Acreage is another consideration. While not all luxury buyers want expansive lots, the interior and immediate exterior of a home must have plenty of room for unfettered, high-end living. Cathedral ceilings, sports courts, multiple-car garages, gyms and spas, backyard kitchens, entertainment rooms, bonus rooms, guest cottages, and private docks are some examples.
Premium materials. Quality is a defining characteristic of luxury homes. You’ll see it in the choice of materials and finishes, and the attention to architectural detail. Where premium materials once meant importing the best in the world, today’s homes may feature cutting-edge sustainable materials from local sources, including custom features handcrafted by community artisans. Today, premium materials may extend to integrating green and smart technologies as home features.
High-end design. Luxury properties stand out because they’re designed by the best in their field. Whether heritage or pedigreed, custom or new builds, luxury homes often bear the handiwork of these designers. If you browse high-end listings, some of the descriptions name-check the architectural and interior design firms that worked on the house because they are a selling point.
Upscale features and amenities. With the unique design comes a distinct set of amenities as well. Luxury homes can include specialized spaces such as a home gym, entertainment rooms, sunrooms, intelligent home features, private farms and boat docks, a private beach, bigger-than usual swimming pools, rooms with different themes, and other custom amenities. With these things in consideration, it comes as no surprise that luxury properties are priced the way they are.
10 THINGS TO CONSIDER BEFORE BUYING LUXURY REAL ESTATE IN SMITH MOUNTAIN LAKE
- View
In a place where location is already king, the view is the crowning glory. Do you want a sight of the lake with the mountains as backdrop? As a sunrise or sunset person, is there a house that indulges your preference? Does a view of the evening lake lit by the moon and the starry sky as you enjoy your wine sound appealing? The view is one of its permanent features a property may have, and your Realtor will make sure no development plans alter your priceless vista in the years ahead. - Slope
When purchasing a lake property, considering the slope of the land is important. Is it flat with gentle or steep slopes? Is it safe and easily accessible for children and the elderly? Would it require you to install steps? Is the space just right, too narrow, or too wide? Would you want to have a basement and/or a driveway? Your needs and requirements will depend in large part on the type of slope the property has. Checking it is critical when touring the property. - Waterfront
If you’re keen on a waterfront home with a private shoreline, you’ll need to think of the following:- Water depth
- Water quality
- Erosion control
- Dock features
Some waterfront property buyers will look for deep waters to dock their boats. Others may prefer shallower waters that their children can swim and play in safely. Erosion control and rip-rap installations are important but not all waterfront properties need erosion control measures. Therefore, it’s critical to work with local agents who are experts in lake luxury properties.
- Location
There are residential areas in Smith Mountain Lake that answer specific needs. Options include a private wooded community, a country club, access to the best spots to sail, communities surrounded by rentals or the farthest from rentals. Some homeowners may prefer being in the midst of the events and activities during high season. Others like their quietude. - Home style
Look at the overall style and location of the property. Which features do you want to keep? Is there anything you’d like to remodel? Before you buy, check out the renovations you envision based on the age and structure of the home and the property’s slope, view, and waterfront. - Priorities
With the beautiful homes available and charming environment of Smith Mountain Lake, it’s easy to forget the purpose of the property you hope to buy. Are you looking for a permanent home, a vacation home, or an investment rental? Keep priorities in mind when checking listings. - Future-proof
Like with any real estate property, future-proofing your home is essential. Ask your agent about plans in the area. Are there going to be development projects that will obstruct your view? Or else boost the value of your property because there will be more commercial establishments nearby? Buy or pass accordingly. - Length of time
It usually takes a longer time to buy a luxury property. Often, homeowners are not in a rush to sell; they may reject offers until they find a buyer that matches their price and preferences. There are also more details to be considered and finalized in a luxury home compared to a standard single-family home, for example. Furthermore, a waterfront or a lakefront property may require additional inspections by waterfront specialists to ensure the soundness of bulkheads, docks, and piers; residential structural engineers; or surveyors to determine the boundaries of the properties. - Required documents
Like any big purchase, a luxury home comes with a gauntlet of requirements. Some documents you need to prepare are:- Bank statements
- Tax returns
- W-2
- Financing approval letter
- Pre-qualification letter
These are on top of the usual information that the seller or the financing institution might require from you.
Once the deal has been closed, additional documents to secure are:
- Buyer’s-agent agreement
- Purchase agreement
- Addenda, amendments, and riders
- Seller disclosures
- Home inspection reports
- Closing disclosures
- Title insurance policy
- Property deed
- Strong resale value
If you are looking to invest in rental homes and properties that increase in value over time, factor in the property’s resale value. Some things to look for include custom-built home features, location, and facilities. Other things that matter: wide open spaces, floor plans, amenities such as private balconies, and a home design that will not go out of style in the next few years.
BENEFITS OF WORKING WITH A SMITH MOUNTAIN LAKE REALTOR WHEN BUYING LUXURY REAL ESTATE
The journey of purchasing a luxury real estate property is an experience that is best done with an expert Realtor. What are the advantages of working with a Smith Mountain Lake Realtor?
Here are some top benefits.
Has integrity and experience
It takes a special level of experience, skills, knowledge, dedication, and commitment to thrive in the luxury real estate market. Concierge services are a given. So is personalized care. Luxury Realtors also ensure they are on top of market changes, new requirements, home trends, and developments that will impact the real estate industry.
A local Realtor is a market expert
Realtors understand the “lay of the land” on levels as described above. They can leverage their personal networks in getting the best deals for you. They can also check similar properties in the area and compare prices for active, pending, and sold listings. They provide a better overview of the local market, which will allow you to make informed decisions about your purchases.
Has access to “silent listings”
It is important to work with Realtors who get access to the best deals – especially exclusive ones. It is not uncommon for luxury agents to sell properties that are not listed publicly. It broadens the choices available to clients.
Respects your time
Expert Realtors understand your busy schedule, especially if you are traveling from a distance. They shortlist properties ahead of time so you can view them in person during your time in the area. It is important to see how prepared and organized your Realtor is early on.
Ensures privacy and security
As with any business, keeping your information safe and secure is paramount. Working with a Realtor gives you peace of mind because the details of your transaction and the personal data you provide them remain safe with systems and tools to keep it this way.
Helps you avoid common homebuyer mistakes
Some buyers are also prone to make mistakes when buying a luxury real estate property, particularly if it is their first time. These common mistakes include:
- Buying a property on impulse
- Forgetting the main purpose of purchasing the property
- Not being able to get to know the neighborhood
- Incomplete requirements and financial documents
- Choosing the wrong agent
Avoid these mistakes by being extra discerning. With a trusted Smith Mountain Lake Realtor, you can make the most out of your investment, while also enjoying the process.
What to expect in a luxury Realtor
With these benefits in mind, the next step is to find a luxury Realtor that can help you purchase your dream luxury home in Smith Mountain Lake. During your search for the best luxury real estate professional, look for the following qualities:
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- Strong history of sales in luxury homes
When you buy a luxury lakefront property, your chosen Realtor must be an expert in this niche market. Jane Horne is the Realtor to entrust the purchase of your Smith Mountain Lake home. I have conducted my business in this idyllic community since 1986, overseeing transactions worth from $10 to $20 million a year, making me a consistent top producer in the area.
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- Proven experience in looking after clients
I am proud of the personalized service and dedication I have consistently provided my clients. I have successfully matched clients with Smith Mountain Lake properties that perfectly match their needs.
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- Certifications and achievements
Along with experience and expertise, luxury Realtors have notable certifications and memberships under their belt. They are proof of excellence, performance, ability, and skillfulness throughout the years. I am a Certified Residential Specialist (CRS), a certified Single-Family Rental (SFR) Realtor, and a Luxury Collection Specialist. In addition, I have been awarded the Fine Homes Certification, given only to Realtors who have listed and sold homes over million dollars.
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- Memberships and partnerships
As a Smith Mountain Lake Realtor, I serve on the Virginia Recreational Facilities Authority as a member of the Board of Directors (a state board appointment). I am also a member of National Association of REALTORS® (NAR), Virginia Association of REALTORS® (VAR), and Roanoke Valley Association of Realtors.
If you can’t wait to step into your very own Smith Mountain Lake property, I can’t blame you. With four distinct seasons, this exceptional community allows you to enjoy the best of spring, summer, fall, and winter. You’ll never run out of things to do – whether it’s simply relaxing by the lake or experiencing the great outdoors with watersports and hiking trails.
To learn more about the available Smith Mountain Lake luxury real estate properties, you can call me, Jane Sullivan Horne, at 540.493.1690 or 800.858.4653. You can also contact me here.
