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Many people make the decision to move to the Smith Mountain Lake area due to the pull of the lake itself. After all, Smith Mountain Lake is 22,000 acres of clear, pristine water, nestled in the heart of Virginia—and few bodies of inland water can match the qualities of this lake.

However, when interested people actually get to the area, they realize that there’s a lot more to Smith Mountain Lake than waterfront alone. The surrounding rural countryside is also a breathtaking sight, with rolling pastureland and peaceful wooded areas, and plenty of room to spare.

People often ask how much land is selling for in the Smith Mountain Lake area. To be honest, there’s only one answer: it depends.

SML land value and location

Much like buying real estate, property values in Smith Mountain Lake are heavily influenced by location. It’s fairly well known that the closer the land is to the water, the more highly valued it will be. Waterfront property is always in high demand.

But even with waterfront property, there are several factors that can change the land value. These include the actual water frontage, whether the property is on a main channel or a cove, the pitch of the land leading to the lake, and more.

Other factors that affect property value

Outside of closeness to the lake, the cost of land in the SML area can depend on several different quality variables. The topography of the property is considered—the property may be wooded, fully cleared, or “cut over,” which means that timber has been removed, but the land hasn’t been graded into pastures or fields.

Another factor is water that doesn’t include the lake. Many properties in Smith Mountain Lake have private ponds, river frontage, or creeks, which increase the value. Additionally, there are three different types of property access, and each affects the land value: state-paved roads, private roads, and easements.

If you’re thinking about buying land at Smith Mountain Lake—whether you’re coming for the lake itself, or land as recreational or investment property—now is the time to find a great deal on the perfect lot.

Contact Debbie today to learn more about the land values on and around SML or to visit any of the fantastic properties currently for sale at Smith Mountain Lake.