Can You Buy a Lot Now and Build Later at Tennessee National?

Yes. You can buy a homesite at Tennessee National now and build later, because there is no deadline to build.

That matters more than it sounds. Plenty of people find the place they want to live years before they can move there. The job has four years left. The house you are leaving is not ready to sell. In a community with a build deadline, that gap is a problem. You either build a house you cannot live in yet, or you walk away.

Here is how buying now and building later works, what it costs to wait, and what to check before you do it.

Is there a deadline to build at Tennessee National?

No. There is no deadline to build after you buy a homesite at Tennessee National. When you close, no clock starts.

Build next spring or build in ten years. Homes here are custom built and go through design review, and that is true whenever you start.

Why buy the land before you are ready to build?

Because the land is the one part of the plan you cannot change later. A house can be redrawn a dozen times. The homesite, its slope, its light and its view are fixed the day you buy.

There are four common reasons to buy first and build later:

• To settle the "where" first. With the homesite chosen, every later decision gets easier.
• To spread out the money. Land now, house later. Often the house gets built after the current home sells.
• To take time on the design. You can visit in all four seasons, watch where the sun sets in October, and design for the land you own instead of guessing.
• To have a reason to keep coming. Owning land here turns "someday" visits into regular ones. Knoxville is about 30 minutes away and McGhee Tyson Airport (TYS) is about 35.

What a homesite owner can use before the home is built is a fair question. Ask the club which amenities and memberships are open to an owner who has not built yet. Membership questions go to the club.

What does it cost to hold a homesite while you wait?

Less than a house, but not nothing. Here is what to budget for and who can give you the real figure.

We do not print dollar figures here because they change. Pricing is in the info pack. If you plan to borrow for the land, read how financing a lot works before you choose.

What should you check before you buy land to hold?

Check the rules that will apply on the day you finally build, not just the day you buy. A short list:

• The design guidelines. Ask for the current version, and ask which version applies if you build years from now. See design rules for homes at Tennessee National.
• Owner duties before construction. Some communities expect owners to keep an unbuilt homesite tidy. Ask what applies here.
• Utilities. Ask what is at the homesite now and what you pay to connect when you build.
• The shoreline, if it is a waterfront homesite. Ask what the community allows and what TVA controls.
• The land itself. Walk it more than once, in more than one season.

What are the trade-offs of waiting to build?

Waiting buys you time, and time cuts both ways.

• Building costs move. Nobody knows what materials and labor will cost in five years. We will not guess.
• Rules can change. Design guidelines and building codes get updated.
• Your money sits in land. A homesite does not give you a place to sleep or a return you can count on.
• Land loans are often stricter. If you finance the land, a lender may offer tougher terms than a home mortgage. Ask how long you can hold it.
• Neighbors build on their own schedules. Other owners have no deadline either, so expect construction near your homesite at some point. See how to vet a master-planned community.
• Your plans may change. That one is often good news. The house you would design in five years may fit you better than the one you would rush today.

When you are ready, how building a home works lays out the steps.

The honest bottom line

The no-deadline rule takes away pressure. It does not take away cost. You will pay property tax, and any dues that apply, on land you are not living on, and you are betting that you will still want this plan when the time comes.

For some buyers that is a good bet. They know where they want to end up, and they would rather own the ground and take their time. If that is you, see how far the drive is, walk a few homesites, and ask the questions above before you sign.

Facts about Tennessee National come from the community. Lake facts come from TVA. Rules, taxes, loans and insurance change, so confirm anything that affects a purchase with the right office or professional before you buy.