Is Buying a Gatlinburg Cabin a Good Investment?
Short answer: Yes! Buying a Gatlinburg cabin is a smart way to earn rental income in one of the country’s hottest spots for vacationers.
As measured by return on investment, Gatlinburg was the second-best place in the country (out of 150 locations studied) to own rental property, according to a 2019 report from Rented.com listed Gatlinburg as one of its 10 best places in American to buy a vacation rental home, thanks to the area’s steady popularity with tourists.
What Makes Gatlinburg A Great Bet?
Gatlinburg’s appeal as a rental investment is strong. Take a look:
- Properties here are affordable. The median home price in the Gatlinburg area in 2019 at just under $183,000--relatively low, especially for an area so popular with tourists.
- Your property is likely to appreciate. Zillow says home values rose a whopping 21.5 percent over the past year (February 2020 to February 2021) in Gatlinburg.
- Rental income is solid. Rented.com’s report showed estimated rental income for Gatlinburg was $45,000 a year as of 2019. Of course, that dollar figure is general, and a lot depends on the size, location, and amenities of any rental property. But here’s the gist: Gatlinburg rentals make money for their owners.
- Gatlinburg is popular with visitors every season. Rented.com says Gatlinburg “boasts a steady stream of travelers year-round.” Lying at the entrance to the most visited national park in the United States--Great Smoky Mountains National Park - Gatlinburg is much more than a seasonal destination. The park offers wildlife, hiking, scenic views, and historic sites. Gatlinburg is home to the only ski resort in the state. Gatlinburg features traditional Appalachian culture, music, crafts, and food that attract travelers. The town’s compact, walkable downtown attracts everyone from couples on moonshine tasting trips to families exploring the aquarium with kids.
- Restrictions on short-term rentals are minimal. Local regulations and codes aren’t burdensome, plus: You have someone to navigate them for you--Colonial Properties, your rental cabin management experts.
What If I Don’t Want to Deal with Renters?
Maybe you’re sold on the idea of investing in a property but not on the idea of having to manage rental scheduling, housekeeping, and all the obligations of renting out your cabin. Use a cabin management company to handle those details for you, so you benefit from the income without having to handle day-to-day hassles. Colonial Properties Cabin and Resort Rentals deals with all guest needs, from booking guests, processing payments, cleaning cabins, doing maintenance, and handling problems 24/7. For cabin owners, Colonial Properties markets your cabin, tracks market prices and adjusts your rents accordingly, screens guests, and much more.
Talk with Colonial Properties today about how we can turn your Gatlinburg vacation cabin into a rental that brings you income without headaches!