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A buyer looking for a Nantucket style home that gives a feeling of being at the beach may look at The Boardwalk. Someone wanting to sail may try to be near the Pelican Point Yacht Club. Others may want a more rural feel, a subdivision feel, be close to certain amenities, be in an area of many rentals, or be away from rentals.
Driving time is also an issue. However, buyers often find that this is less important once they truly time the drive from home to various parts of the lake. It seems the spots that appear least convenient have the straightest access roads, so the actual drive times are similar from many locations to most lake destinations.
For example, it is about the same drive time from the south (say from Raleigh, North Carolina) to parts of Huddleston, in the northeast corner of the lake, as it is to parts of Union Hall, in the southern part of the lake. One would not guess this when looking at a map. Similarly, it is about the same time to drive from north of the lake (say from Roanoke) to both Huddleston and Union Hall. In fact the drive time from D.C. to many parts of the lake is about the same, though one would not guess this from a map. As George Clooney said, “This is just a geographical oddity!”
The issue of a property’s location on the channels may also come up. Some buyers prefer to be right in the middle of the action, say in the area of Smith Mountain Lake State Park on the main channel. Others don’t care about wide water and would rather be in a private location way up the Blackwater or Roanoke Channels. All else being equal, home values are often higher in a more central part of the lake.