Owning a Second Home in Western North Carolina

If you are considering owning a home in one of Western North Carolina's many luxury communities, you have countless opportunities and areas to choose from. Whether you are looking to own a second home for your retirement or a vacation home to turn into a thriving income property, many options are available –– all of which feature amenities and nearby cities to accommodate every lifestyle.    

Blessed with epic outdoor views in just about every direction, including mountainous terrain, quiet lakefronts, and lush greenery as far as the eye can see, Western North Carolina has it all. Discover the best each region offers by exploring our key highlights below. 

Things to Consider Before Buying a Second Home

Before you decide to move toward owning a vacation home or retirement home in Western North Carolina, you should know some critical considerations. 

Second homes typically require a larger down payment.

Unlike with primary residences, many mortgage lenders will expect home buyers to put down more for a second property. Depending on the area and where you live full-time, the usual down payment amount for home number two falls within the 20 to 25% range. However, it is not uncommon to find lenders who will work with a 10% figure.

Second-home mortgages are expensive 

Even after you've secured your down payment, it is still common for mortgage rates to be much higher for a secondary home. To afford a retirement or vacation property in North Carolina, you will probably need to apply for a second home loan –– which does not include the additional fees associated with a standard mortgage, like appraisal fees, origination fees, and closing costs. Factor these amounts in when putting together your portfolio.

Second-home mortgages feature higher interest rates

Depending on how you intend to use your property (as a second home for personal use or as an income property to rent out to vacationers), your interest rates will likely fluctuate –– but ultimately remain high whichever venture you take. 

Mountain Living

Banner Elk

Situated in the picturesque Blue Ridge Mountain range between two world-class ski resorts, Banner Elk is home to a thriving community of active adults and families looking for a parcel of pristine land upon which to settle and bask in numerous outdoor activities. The mighty Elk River is a delicate setting for hiking trails, biking, and fishing, while world-class courses (like the Elk River Club or nearby Mountain Glen Golf Club) set against stunning mountain vistas provide golfers with the ultimate backdrop. 

Featuring mild temperatures during the spring and summer months, plus low humidity levels, Banner Elk is an ideal location for a retirement or vacation home –– from expansive, multimillion-dollar mansions to vacant lots on which to build your dream property; Banner Elk offers luxury living for every type of buyer.

Highlands-Cashiers Plateau 

A trendy destination for luxury living, Cashiers offers home buyers some of the lushest and most scenic environments in all of North Carolina. Located in Jackson County, 10 miles from Highlands and about 60 miles from bustling Asheville along the picturesque Highway 64, this prime area sits in the center of the Nantahala National Forest, within a stone's throw distance of the beautiful Blue Ridge Mountains. 

A postcard of breath-taking natural beauty, including waterfalls, rivers, hiking trails, and plateaus, Cashiers (pronounced "CASH-ERZ") offers countless opportunities for recreational activities, world-class golfing, shopping, fine dining, and so much more –– all in a mountainous, storybook setting that feels like another world. The Highlands-Cashiers Plateau truly has everything you could ask for in a luxury community –– a perfectly charming hideaway that never feels isolated.

Brevard

Luxury real estate in Transylvania County, where the charming community of Brevard sits, is at a premium owing to the incredible amenities and stunning natural beauty. Known as the Land of Waterfalls –– with roughly 250 sights to find –– Brevard is a recreationist's dream, with miles of winding hiking and bike trails, dense forest, wild rivers, and mountainous terrain to trek.

Situated about 30 miles from busy Asheville, Brevard also has exciting activities for retirees and vacationers looking for something more educational, like museums (Transylvania Heritage Museum and the Brevard Music Center), galleries, and other historical sites. Plus, a charming town center home to great local shopping and dining. 

Living Lakeside

Lake Lure

Great attractions await vacationers and second homebuyers considering a move to western North Carolina. And if peaceful, lakeside living is what you're after, look no further than the famed Lake Lure –– a celebrity all on its own. Home to filming locations for classics like "Dirty Dancing" and "The Last of the Mohicans," the unspoiled, natural wonder of this expansive artificial lake offers beauty and activity, including hiking and biking trails, boating docks, tranquil beaches, and swimming, plus so much more. 

Asheville

Boasting several stunning lakes wrapped around the beautiful Blue Ridge Mountains, the Asheville area is one of North Carolina's most thriving and bustling cities. But it also offers plenty of opportunities for serene, luxury rural living not far from the amenities of any major metropolis. 

Sitting five minutes outside Downtown Asheville, Beaver Lake is the perfect residential community for those who love tranquil walks, stunning sunsets, bird watching, or recreational adventures around a pristine body of water.  

Other nearby residential areas can be found around the equally resplendent communities surrounding Lake Tomahawk (in Black Mountain, NC), Lake Louise (in Weaverville, NC), Lake Julian (in Arden, NC), and Fontana Lake (in Fontana, NC) –– all of which are within close driving distance of central Asheville.

Lake Glenville 

Just outside of Cashiers, in neighboring Glenville, Jackson County, lies the other-worldly beautiful Lake Glenville –– with its nearly 30 miles of shoreline atop 1,400+ acres of rugged woodlands. With three different waterfalls to catch, Lake Glenville is an ideal recreational area for homeowners looking to rent a heavenly second property or an income property to equally enthusiastic vacationers. Water skiing, tubing, swimming, fishing, boating –– Lake Glenville has everything. And most importantly, it has epic views. 

Interested? We are here to help!

Many ideal locations are available for buying a retirement or vacation property in Western North Carolina. With plenty to see and experience –– not to mention spectacular mountain and lake views –– the possibilities are endless. If you are considering moving to the area, contact us here, and we'll be happy to walk you through the options.