East TN Properties

Ref: https://www.tennesseenational.com/blog/top-5-reasons-to-move-to-east-tennessee

With more Americans working remotely than ever before, many families are taking the chance to relocate somewhere new.

Tennessee is among the top choices for people from all over the United States. If you’ve wanted a change for yourself and your family, be sure to put the Knoxville and East Tennessee area on your list of places to consider. 

Read on for five reasons to consider moving to East Tennessee.

1) Low Cost of Living

The low cost of living relative to other US states is one of the chief reasons people decide to move to Tennessee. The US Cost of Living Index is calculated based on how much money it would take to live in a particular state compared to another and uses criteria such as median costs for housing, medical care, groceries, schooling, and more. 

According to the World Population Review, Tennessee has a cost index of only 88.7. This means that Tennessee resides more than 11% under the US median cost of living and ranks #6 on the top states with the lowest living cost. 

2) Low Taxes

As if the overall low cost of living weren’t enough of a reason to move to Tennessee, the Volunteer State is also one of only a few states that do not impose a state income tax. The others include Alaska, Florida, Nevada, New Hampshire, South Dakota, Texas, Washington, and Wyoming.

Speaking of taxes, how does paying less in annual property taxes sound? Tennessee’s overall effective property tax rate is .64%, which is less than half the national average for property taxes. Just outside Knoxville, Tennessee’s Loudon County and where Tennessee National is located is even lower. Loudon County’s effective property tax rate is only .45%, which could mean significant savings for you if you decide to relocate. 

3) Four distinct - yet mild - seasons

Lower costs are great, but what’s it like to live here? Many Americans who live in colder climates dream about living somewhere with more moderate seasons, especially winter. Tennessee delivers. Outdoor enthusiasts can spend more time outdoors all year long, with unique adventures available with every new season. 

Spring in Tennessee promises lush green foliage and average temperatures in the mid-60s. That’s perfect for family picnics, walks, golf outings, and eclectic festivals, like Knoxville’s Dogwood Arts Festival, which celebrates regional art, culture, and natural beauty.

Summer brings warm weather and lake adventures! Temperatures in the hottest days of summer are often only in the high 80s - ideal for swimming, cruising on the lake, enjoying an outdoor country music or jazz concert, or simply sitting on the porch with a cocktail at sunset. With moderate temperatures regardless of the time of day, you can enjoy many outdoor activities all day and into the evening. 

This spring and all summer, join us for our brand new outdoor summer concert series on the lake at Tennessee National, located alongside gorgeous Watts Bar Lake. Renowned recording artists, beloved food trucks, hand-crafted cocktail offerings, fabulous views, and safe outdoor entertainment are just some of what we love about warm weather in East Tennessee.

If you haven’t experienced fall in East Tennessee, you’re missing out on some of the world’s most beautiful landscapes. Located at the base of the Appalachian Mountains and very near the Great Smoky Mountains, residents and visitors count down the days for fall’s appearance.  The Great Smoky Mountains National Park is the most visited national park in the country. Average temperatures are in the 60s, which makes outdoor pumpkin patch visits, waterfall hikes, hayrides, and UT football games among some of our favorite pastimes. 

Raise your hand if you want to ditch the snow shovel and retire the snow blower! We thought so. Winter in Tennessee doesn’t disappoint.  Cold temperatures usually dip into the 30s, so there’s rarely, if ever, the need to combat ice or snow. But don’t worry about missing the snow once you move. Often you’ll find a gorgeous dusting of light snow a couple of times each winter, allowing you the opportunity to enjoy the beautiful white landscape without any of the hassles of living with it full time. A win-win, we think. 

4) Breathtaking natural beauty.

Beautiful views don’t just happen in the fall. East Tennessee is known for rolling hills and breathtaking mountains. Besides the gorgeous views virtually everywhere you look, you’ll find many public parks, playgrounds, picnic areas, and spectacular hiking trails for any skill level at many of the nearby state and national parks. 

The Great Smoky Mountains are only an hour away and offer endless enjoyment for hikers, families, couples, bird watchers, and nature enthusiasts. Downtown Gatlinburg and Pigeon Forge are also nearby and offer indoor and outdoor theme parks, eclectic shopping and dining, and regional cultural attractions.  With one of the US’s beautiful, most visited national parks so close, you’ll be able to make memories with the people you love for years to come. 

The state is also home to over 1,000 lakes and reservoirs that provide beautiful views and entertainment opportunities. Watts Bar Lake, for example, has appeared on the list of top 15 lakes in Tennessee. In addition to its stunning appearance, Watts Bar Lake is well known for its superior water sport, boating, and freshwater fishing opportunities.

5) One-of-a-Kind Communities to Call Home

Tennessee’s low cost of living means that there are affordable homes and property available. But, did you know that East Tennessee is a thriving real estate market with one-of-a-kind communities with exceptional homes, homesites to build on, and world-class amenities?

One such Eastern Tennessee community is our own Tennessee National, a gorgeous lakefront 1,400-acre gated community, located on a peninsula where the Tennessee River meets Watts Bar Lake, just outside Knoxville. Tennessee National offers residents the best that Tennessee living has to offer. 

Location, location, location - Location is everything when choosing where to live. Would you love for your home to back up to beautiful wooded-nature views and trails? Or would you prefer the chance to sit on your waterfront porch or balcony and soak in the Tennessee sun on the lake? Or maybe your best life sounds like living on the pristine grounds of one of the top 10 golf courses in Tennessee? Tennessee National offers homes and homesites with many unique vistas and custom home options. The hard part might be choosing just one for your family’s dream home. 

Residents enjoy the saltwater swimming pool, private boat slips, an onsite marina, a clubhouse restaurant, and 10 miles of walking and hiking trails through the community’s grounds and on the lakefront, in addition to the Greg Norman Signature golf course and pro shop. 

Tennessee National changed ownership in early 2021, and many impressive new amenities are underway. The golf course has seen extensive renovations, as has the current clubhouse, known as Silos. In 2021, the Sunset Saloon and Ultimate Driving Range was built and opened to members. The Sunset Saloon is a brand new, open-air entertainment venue and driving range, powered by Toptracer Range, with games, challenges, and virtual courses for all ages.

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The Tennessee National Marina also saw the arrival of a fleet of rental leisure pontoon boats and the plans to upgrade the marina, and build a waterfront restaurant, which will be open to the public.

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Many more new projects are underway in 2022, including a state-of-the-art clubhouse being built and the installation of new pickleball courts. With so much happening, residents won’t even have to leave the community to find exciting and memorable activities to enjoy all year long.   

We hope you can see why East Tennessee is one of the most popular places to relocate. These are only a few of the reasons we think Tennessee is a great state to call home. But don’t just take our word for it. Come for a visit. Stay for a lifetime. 

Are you moving to Tennessee and trying to decide whether to live in Chattanooga or Knoxville? Though both of these cities are great choices, we understand it can be a tough one to make. Each of these cities has fun local activities, great job opportunities, and that Tennessee charm that so many people are looking for. On top of that, both of these areas are growing in size thanks to more people who want to enjoy all these benefits.

When looking at a comparison of Chattanooga vs Knoxville, what better way to choose which city is better for you than with a pros and cons list?

It’s also important to review the cost of living in Chattanooga vs Knoxville, as well as details about the local population, crime rate, and weather. You’ll find everything you need to know to make a well-educated decision before choosing where to live.

https://alloutmoves.com/blog/chattanooga-vs-knoxville-pros-and-cons/

(Source: https://pointacquisitions.com/2022-rising-construction-costs/)

Why are construction costs increasing?

The construction industry has seen a major rise in prices over the last year. There are multiple reasons for this, including: 

• Increase in building material prices. This is due to several factors, including tariffs on imported goods and the impact of COVID-19 on global supply chains.
• Inflation due to an increased money supply chasing the same productivity and output which has resulted in some of the highest inflation in 40 years.
• Labor costs are rising as workers demand higher wages in response to the increased cost of living and lack of skilled laborers in the workforce.
• Rising interest rates make it more expensive to finance construction projects.  

Covid-19 Affects Construction Costs

The pandemic adversely impacted the construction industry and as a result, the industry as a whole is still experiencing significant challenges.  In the short term, many building projects were delayed by the pandemic and are back on track, but that delay caused a major reduction in human capital and significant delays across the board. 

This in turn means that upcoming projects will have a delayed start due to the backlog of ongoing projects.  Furthermore, the cost of construction materials normally increases annually due to inflation (an issue that contractors faced even prior to the pandemic). However, the inflation that accompanied the pandemic has been significantly different and has largely impacted construction costs. The U.S. construction industry is heavily dependent on foreign construction materials such as steel and stone. Because COVID-19 is a global pandemic, it caused closures and delays at international factories that produce these materials.  

Due to a confluence of events, construction costs are projected to continue rising and will ultimately stabilize as long as labor and material costs stabilize and there are no further supply chain disruptions.  

Supply Chain Disruptions

The pandemic has also led to a supply chain disruption for materials, which has caused construction inflation. We have seen rising costs in the following construction materials:

Gypsum Products

One building material that is likely to see a price increase is gypsum products, which are used to construct walls and ceilings. Gypsum’s price has increased by 20% since 2020 and is expected to continue to rise in the coming years.

Paint

The exterior paint price has risen nearly 50% in the months since, including 14.5% through May 2022. The PPI for architectural coatings increased by 1%. This is not surprising given how much more expensive it’s been compared to other types such as clearcoats which only saw an increase of 0.2%.

Ready to Mix Concrete

Since January, the price of ready-mix concrete has increased by nearly 9% this year. This may be due to the increasing demand for building materials not being met by traditional methods such as slump or fly ash options available at today’s market prices.

Transportation of Freight

The price of diesel fuel, used to transport building materials, has been rising in recent months. The price of diesel fuel increased by 13.0% from January 2021 to April 2021 and is expected to continue to increase in the coming months. This will likely lead to an increase in the cost of transporting building materials to construction sites.

Steel Products

The price of steel products, such as reinforcing bars and structural shapes, has been on the rise in recent months. The price of reinforcing bars increased by 11.0% from January 2021 to April 2021 and is expected to continue to increase in the coming months.

Softwood Lumber

The lumber prices have been rising in recent months due to increased demand for building materials. The price of softwood lumber increased by 13% from January 2021 to April 2021, and it is anticipated to rise in the next few months.

Other Building Materials

The price of several other building materials, such as asphalt, brick, and stone, has also risen in recent months. As the cost of building materials continues to rise, so will the cost of construction.

Logistics issues

The pandemic created logistics issues that have caused delays across the supply chain. These delays have often been due to disruptions in the global supply chain, such as port closures and transportation disruptions.

In addition, many material suppliers have struggled to keep up with the increased demand for building materials, resulting in longer lead times and higher prices.

Labor Shortages

Another factor driving up the cost of construction is labor shortage. The pandemic has decreased the number of contractors and people working in the construction industry, as many workers have been laid off or have left the industry altogether. This has led to wage pressure from those still working in the industry as companies compete for a limited pool of skilled laborers.

Energy prices impacting the building industry significantly

The building industry has been hit hard by rising energy prices. The cost of heating and cooling buildings has gone up significantly, leading to an increase in the cost of construction. As a result, many people are finding it difficult to develop in today’s market.

The building industry is facing challenges on all fronts, and it is clear that energy prices have a significant impact. In addition, the building industry is also having to contend with the impact of climate change. As the weather becomes more extreme, building structures that can withstand the elements is becoming increasingly difficult.

Will construction costs fall in 2023?

The current trend shows that construction-related expenses have been on an upward trajectory for quite some time now. If the same pattern plays out again next year, then we can expect much of the same that we’ve experienced in the past couple of years.

What does this mean for you?

Keep an eye on construction costs in your area, and plan accordingly.  Similarly to the real estate market, construction costs are extremely dynamic and rapidly changing.  

Managing cost inflation requires understanding current supply chain issues, material shortages, and challenging environments. Doing so will ensure your project stays on budget and is completed on time!