Why Pigeon Forge, TN Is the Perfect Place to Call Home: A Complete Guide
Are you thinking of relocating to Pigeon Forge, Tennessee? Congratulations! You’re in for a treat! When it comes to quaint and cozy locales with plenty of attractions and outdoor activities, this city has everything you need. From amazing dining spots and shopping centers to family-friendly entertainment venues and top-notch schools—Pigeon Forge is the perfect place to settle down.
And, when it comes to Pigeon Forge houses for sale, there are plenty of options available. So, let’s dive into why this vibrant city is such a great place to live in. We will also help you find the right home to buy in this beautiful place.
Top Reasons Why Pigeon Forge Is a Great Place to Live In
A lot of people love Pigeon Forge for several reasons. Here is why you will enjoy living in this city.
Less Expensive Cost of Living
First and foremost, the cost of living in Pigeon Forge is significantly lower than in many other cities in the US. According to Best Places, the city’s cost of living index is 97.8, which is below the national average.
This means that you can save more money and stretch your paycheck further when it comes to buying groceries, paying rent, or getting services. And of course, this also means that you will have a higher budget to purchase prime real estate here.
In terms of the cost of homeownership, Pigeon Forge also has low property taxes and homeowners’ insurance.
Another thing that makes buying Pigeon Forge homes for sale a great decision is the city’s diversity. People from all walks of life are welcomed here, and this helps create a vibrant community that you can be proud to be part of.
The locals are always eager to show hospitality and welcome new neighbors. This lovely mountain city is full of friendly faces and people who are willing to help out with just about anything. From small business owners, teachers, artisans, farmers, musicians, and more, you will find them here.
Rich Cultural Heritage
With its history, culture, and traditions that go back several generations, living in Pigeon Forge is like taking a trip down memory lane. From its charming streets to its cosmopolitan restaurants, you will find a wide range of sights and attractions that reflect the city’s unique identity.
When it comes to entertainment, the city has plenty of it as well. There are museums and art galleries showcasing local talents, music venues for live performances from beloved artists, festivals celebrating different cultures, and much more.
You will never get bored living in this culturally rich city!
It would be impossible to talk about Pigeon Forge without mentioning its stunning natural beauty. It is known for its mountain living for a definite reason, after all!
The city provides breathtaking views and endless opportunities for outdoor recreation, from hiking trails and fishing spots to biking paths and mountain resorts.
For those who prefer slower-paced activities, there are also plenty of parks and gardens with tranquil lakeside views, which are perfect for strolling or picnicking.
The city has one of the most resilient economies in the state and is currently experiencing rapid growth. From new job opportunities to booming businesses, there are plenty of ways to make money here.
In fact, Pigeon has one of the lowest unemployment rates in the state, scoring 0.8% on Town Charts. This means that you can easily find stable employment and make a good living, all while still enjoying the city’s many fantastic attractions.
Affordable Home Prices
When you view property listings in the city, you will find out that the real estate Pigeon Forge TN has today is reasonably priced. You will come across plenty of options from luxury condos to single-family homes, so you can find the perfect property at a budget-friendly price.
You can also look into various houses for sale by owner and work out a good deal with the seller if they’re willing to negotiate.
Pigeon Forge has top-rated schools, including the Pigeon Forge Middle School and the Ridgewood Head Start Center. The city is served by the Sevier County School System, which is a collaborative program that provides an excellent education to students in the area. Aside from that, Pigeon Forge also has private schools for those looking for more specialized learning opportunities.
So, if you are moving in with the family, rest assured that your children will be in good hands.
Short-Term Vacation Rental Investment Opportunities
Pigeon Forge is home to some of the most interesting attractions in Tennessee, which is why a lot of tourists visit the city all year round. Along with Gatlinburg, it is a gateway to the Great Smoky Mountains National Park, which is one of the most popular destinations in the country.
This makes Pigeon Forge an excellent prospect for short-term vacation rental investments. By investing in a property here, you can make money by renting out to tourists and other visitors during peak season.
Now that you know why you should live in Pigeon Forge, it is time to get started with your home search!
Buying the Perfect Pigeon Forge Homes for Sale
When buying Pigeon Forge houses for sale, you should do your due diligence to ensure that you make the right choice. Here is a step-by-step guide to help you start on the right foot.
1. Consider your lifestyle.
What kind of lifestyle you want to have as you live in the city should be your first consideration when deciding which property to buy.
For example, do you prefer city living? Then, you can search for single-family homes that are close to all the action. You can also look into luxury condos if you want a more modern lifestyle with convenient amenities within reach.
On the other hand, if you are looking to be close to nature, then you can opt for Pigeon Forge cabins for sale that provide easy access to trails and parks. You can even find one that is near the Great Smoky Mountains!
Whichever your preference is, make sure to assess your needs first before you start searching for properties.
2. Get pre-approved for a mortgage loan.
It is always best to get pre-approval for a mortgage loan before you start house hunting. This will give you an idea of how much you can borrow and what houses are within your budget.
Before applying for the loan, check out your credit score and make sure that it meets the lender’s requirements. Also, don’t forget to compare interest rates from different lenders to get the best deal.
3. Hire a local real estate agent.
With a good idea of which property to buy and financing sorted out, it’s time to find a local real estate agent. Ask for recommendations or look up reviews online to see the best agents in the area.
A good agent will be familiar with Pigeon Forge properties for sale and can give you an edge in your search. They have access to listings that may not be available to the general public and can provide you with valuable insights into local market conditions.
Just discuss your criteria with them, and they’ll be able to show you the right houses in no time.
4. Schedule property viewings.
After you share your criteria with your agent, they should be able to come back to you with a few properties that best suit your requirements.
Schedule viewings on different days and inspect the properties thoroughly. Take note of the features that you like or dislike and pay attention to any minor repairs that are needed. Don’t be afraid to ask questions so you can make an informed decision when buying your next home.
When carrying out a walk-through of the properties, you should also get a feel of the interior spaces and envision yourself living in them. If you don’t feel a connection, then it’s probably not the right property for you.
5. Make your own offer.
Once you find the perfect property that fits your criteria, make an offer to the seller. As much as possible, try to get a good deal by negotiating the price and other terms of the contract.
Your real estate agent can help with this process and ensure that everything goes smoothly until closing. With their expertise and experience, they’ll be able to advise you on whether or not it’s a good time to buy a particular home in Pigeon Forge.
6. Close the deal.
After negotiating and both parties have accepted the terms of the contract, it’s time to close the deal. Make all payments as agreed, sign all documents, and get ready to move in!
With a bit of research and some due diligence, you will definitely find Pigeon Forge houses for sale that best suit your needs and lifestyle.
How about Buying a Vacation Home?
Purchasing a vacation home that you want to rent out requires more special considerations to ensure you’re getting the best returns from your investment. Here are some key factors to keep in mind when making your choice.
Closeness to Tourist Attractions
Your vacation rental’s proximity to popular tourist attractions in Pigeon Forge will have a huge impact on its demand and vacancy rate. With that in mind, you should buy properties located near Dollywood, The Island in Pigeon Forge, and the Great Smoky Mountains National Park.
This way, you can guarantee that your rental will always have repeat guests, and it’s a good way to ensure the house is generating income all year round.
Every traveler would love to have a few extra amenities in their vacation rental. These include things such as a swimming pool, hot tub, game room, and laundry facilities. Make sure that your property has these features or is at least capable of being upgraded with them.
Having these additional amenities will make it easier for you to charge higher rates, so it’s worth considering when buying a vacation home in this city.
Remember—the reason you’re buying this type of property is to make money, so you should always factor in potential rental income from the start. Try to evaluate the cash flow that the property can generate and see if it meets your expectations or not.
Another metric that will help you determine the returns you generate from a vacation rental is the capitalization rate (cap rate). In essence, this is the ratio of yearly rental income to the total price before financing.
Aim for a cap rate that is higher than the average in your area. This will help you determine if your investment is worth it or not.
You can calculate the cap rate of a rental property by dividing its net operating income by its purchase price.
So, for example, if you are buying a property for $500,000, which is currently generating $50,000 of rental income, the cap rate would be 10%. According to real estate experts, the ideal cap rate for vacation rentals ranges from 8% to 12%. So, based on that, this property is a good investment to make.
By knowing the key considerations when buying a rental property in Pigeon Forge, you will be able to make the best decision for yourself.
Whether you’re looking for Pigeon Forge houses for sale to use as a primary residence or for an investment, this city has a lot to offer. With its beautiful mountain views, laid-back atmosphere, and vibrant culture, there’s something here for everyone. So, if you’re ready to take the plunge into this beautiful destination, use the tips above to ensure you make a solid decision.
Happy house hunting!