West Tennessee Houses With Land for Sale - 585 Properties (2024)

FAQs

How much is an acre of land worth in Tennessee? ›

Statewide, an average acre of Tennessee land is worth $14,400, but it's all about location. The average sales amount for a 251,911 square foot lot in one of Unicoi County's prime locations is $59,408, according to FindAnyAnswer.com. Tennessee's $14,400 per acre average cost compares to $12,100 in the lower 48 states.

From the misty peaks of the Smoky Mountains to the fertile valleys of Middle Tennessee, the state offers a wealth of land investment opportunities. Recent data suggests this interest isn't misplaced. The USDA reports that Tennessee farm real estate values jumped 8.1% in 2023, reaching an average of $4,700 per acre.

Higher Resale Value

On this note, it is necessary to keep in mind that a plot of land is typically easier to sell than a home. The explanation is simple: the value of land increases over time but the resale value of a home gradually decreases. This implies, with time, your home will consistently decrease in value.

Tennessee doesn't have a state income tax. And generally, it has lower property taxes and a lower cost of living than other states, which has attracted everyone from working aged people to retirees, especially those from more expensive cities and coastal areas.

Which regions of Tennessee are popular for purchasing land? Shelby County and Memphis anchor west Tennessee, Davidson County and Nashville are the hub of middle Tennessee and Knox County and Knoxville dominate east Tennessee. Just east of Knoxville sits Sevier County, which has the most land available in the state.

To qualify for a land loan in Tennessee, lenders typically require a minimum credit score of 720 and down payments ranging from 10% to 50%, depending on the type of land.

In most cases, building a house in Tennessee is cheaper if you own the land.

CASH IS KING – Maintain your liquidity - Purchasing land requires a HUGE capital investment. Once the cash is spent, you lose your ability to act quickly on future needs and investment opportunities. Liquidity is how quickly your assets can be converted to cash.

Land can be expensive to trade into and out of. There's real estate agent commissions, surveys, title insurance premiums, transaction taxes, etc. and all of these costs (those that you pay when you buy land and those that you pay when you sell it) reduce your profit.

Is it cheaper to build a home or buy a home? ›

Overall, it's cheaper to build a home than to buy one in California, with 13 out of the 20 counties saving you money if you decide to build your house from scratch. Budget-wise, building is more favorable in Southern California whereas Central California caters best to those interested in buying.

Yes, according to past records, investors witness an increase in land value with time. This generally for reasons like increase in demand, and cost of living.

Average Cost of Living in Tennessee: $42,469 per year

10, according to MERIC data gathered in 2022.

Con: It might take time to adapt to the humid climate

The climate in Tennessee is humid and subtropical, which can be uncomfortable for some residents. The summers are hot and muggy, and the winters are mild with occasional snow. The weather is pleasant in spring and fall, but you can still expect some humidity.

In recent years, migration has been the main driver of population growth in Tennessee. Individuals who moved to Tennessee from other states mostly came from California, Texas, and the southeastern U.S. The largest contributors were Florida and California, sending 25,318 and 22,565 new residents respectively.

At first glance, how to calculate price per acre (PPA) is a relatively simple equation. It is the value of your property (v) divided by the number of acres (a). So, v ÷ a = PPA. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number.

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,800 per acre for 2022, up $420 per acre (12.4 percent) from 2021. The United States cropland value averaged $5,050 per acre, an increase of $630 per acre (14.3 percent) from the previous year.

The cheapest land in the United States is located in New Mexico, Arizona, Michigan, Colorado, and Texas. However, it's important to note that the price per acre of a piece of property is dependent on several factors, including location and the type of land.

The largest private landowner is The Weyerhaeuser Company, which owns around 290,000 acres of land across the state. Whether you prefer an entertaining or a relaxing ranch, finding the right ranch for you in Tennessee is all about location rather than the number of acres you own.