Should You Rent a Lake House or Own One in Tennessee?

Every summer the same families rent the same lake houses. Every August the same talk happens on the drive home: should we just buy something?

It is a fair question. The honest answer depends on how you use the water. Here is a plain comparison between renting a lake house year after year and owning at Tennessee National on Watts Bar Lake.

When does renting make more sense?

When your lake time is short and the exact place does not matter much. Renting has real advantages, and pretending otherwise would be selling, not advice.

• Flexibility. A different lake every year if you want one.
• No upkeep. The roof, the dock and the water heater are someone else's problem.
• No costs between trips. When the week ends, so does the bill.

If your lake life is one week a year, renting is hard to beat. The rest of this page is for everyone else.

Where does renting fall short?

When you want the life and not just the house.

• You get a house, not a community. A rental does not come with a standing golf game, a club night or neighbors who know your name.
• Peak weeks are a contest. The weeks you want are the weeks everyone wants. Owners do not check availability.
• Your gear lives somewhere else. Every trip means packing and hauling. Owners keep the kayaks in the garage.
• Rent pays for the week and nothing after it. That is not a flaw. It is what rent is.

What does owning at Tennessee National add?

A place in a community, on your own schedule.

Tennessee National is 1,492 gated acres on Watts Bar Lake in Loudon, Tennessee, about 30 minutes from Knoxville. Inside the gates there is a Greg Norman Signature golf course, a full-service marina with 140+ boat slips, a clubhouse with Kendall's restaurant, a pool, a fitness center, pickleball, tennis and walking trails. There are 22 social clubs and 180+ events a year. See social life for what that looks like.

East Tennessee has four seasons and mild winters, so the lake is not only a summer place. An owner can use the fall weekends and spring weeks that a renter rarely books.

What does owning cost?

More than renting for a week, and it runs all year. We do not print prices here. Here is what drives the number.

• The way you own. The five ways are The Timbers (wooded homesites), lake homesites, waterfront homesites, Land & Home packages and townhomes.
• The home. Size, finishes and the work the land needs.
• Carrying costs. Property tax, insurance, association fees, utilities and upkeep.
• Club and boat costs. Ask the club how golf membership works. Ask the marina about slips.

Pricing is in the info pack. Finished homes are listed at properties.

Then do your own math. Add up what you spent on lake rentals over the last five years. Ask the team for the carrying costs in writing. Put the two numbers side by side.

One caution. Owning is not a sure investment. Property can gain value or lose it. Buy because you will use the place.

Is there a middle path?

Yes. Buy the homesite now and build later.

There is no deadline to build after you buy a homesite at Tennessee National. You can own the land, keep renting for a few summers, and build when the timing is right. It turns the yearly "should we buy?" talk into a decision already made. Buy a lot now, build later covers how that works.

Can you rent out your own home to cover costs?

Do not assume so. Rental rules are set by the community's governing documents.

Ask the Tennessee National team for the current rule in writing, and read the covenants. Do not build a budget on rental income until you have read the rule yourself.

How do you decide?

Answer three questions honestly.

1. How many weeks a year will you really be there? One week: rent. Several visits across the seasons: owning starts to make sense.
2. Do you want a place or a community? Clubs, a home course and neighbors you know come with living somewhere, not with visiting.
3. Is this part of a bigger plan? If you expect to live at the lake full time one day, buying early and using it part time now can do double duty.

If you are leaning toward owning, test it first. Spend two days here in a season other than summer. The two-day visit plan shows how.

The honest part

Owning is a commitment. There is a home to maintain, rules to follow and bills that come whether you visit or not. A lake house you rarely use is an expensive way to feel guilty.

If you will be away for long stretches, read lock-and-leave living at Tennessee National before you decide. And if one week a year is truly all you want, keep renting. There is nothing wrong with that answer.

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.