As a life long resident of the Lake Norman area, it was hard to imagine the lake as a vacation destination for travelers from all over the United States....But I found out a few years ago how wrong I was!!!
My husband and I purchased a small home on the water in 2004 with the plan of updating it, renting it out on a yearly lease for a few years, then selling it, hopefully for a profit. We then decided that it could be more profitable for us to rent it weekly as opposed to monthly. So, when the remodel was complete, we furnished it from top to bottom with great furniture, kitchen supplies, linens, small appliances...the works...
It took about a month from the time we began advertising the rental to book it solid for the entire summer of 2005, at $1750 per week. (We were shocked! ) We had plans to charge a monthly rent of the same! We were pleasantly surprised to find out just how many people wanted to come to Lake Norman to spend their vacation time with their families, as opposed to going to the mountains or the coast. We also booked the home for other events throughout the year..... wedding parties, families coming in to attend graduation, NASCAR race weeks, the holidays, spring break, class reunions, etc......We even had guests come stay with us that booked for several weeks while they shopped for a home in the area.
At the time we started renting our home there were only 15 or so waterfront rentals. Now there are over 75....all around the Lake, from a small lake cabin to a waterfront estate. You have your choice. The options are varied and come in all sizes and price ranges.
If you need help in finding a vacation rental on Lake Norman, please never hesitate to call me! It truly is a wonderful way of enjoying our wonderful Lake for just a little more than the cost of a hotel room, especially if you are bringing in a family or several couples. Most properties will rent by the week, and give you small discount for multiple weeks/months. And it is a great option for those needing furnished temporary housing in the area for whatever reason.
And if you are interested in investing in a Lake Norman waterfront home...it is a great way to get return on that investment!!!
Here's a thought....Just say you live elsewhere, but have plans of retiring to Lake Norman down the road. Why not buy NOW, while WF prices and interest rates are LOW, and rent the home out as a weekly vacation rental until you are ready to move to the area?? That way you can still come to use your home whenever you would like, and cover some or most of that monthly mortgage..
If you need assistance in searching for a waterfront home, or just want some pointers on renting your current home, I will be happy to assist! Never hesitate to contact me at 704-995-9838 or email at elizabeth@christywalker.com.
Elizabeth Davis
Buyer Specialist -Christy Walker & Associates
Keller Williams Lake Norman
704-995-9838
