My cousin has lived down on Nolin Lake for more than 15 years. When he first purchased his lots and moved down from Louisville, I thought he was crazy. Now, I'm looking at property up that way, but not lakefront. Huge difference in prices. I should have purchased lakefront there 10 years ago when a few offers came up.
Home and land prices directly on Nolin Lake have exploded over the past 10 years. Another recent factor regarding property price increases are rising building materials costs and labor shortages. As of last month, three different sources told me that area building material prices for KY/TN increased 40-50% since COVID outbreak. Everybody I know back there who works in plumbing, electrical and even mobile home manufacturing told me they can work 7 days/week if they want. They are booked out for months because demand is so great.
I found a couple lots near Anneta located roughly 1/4 mile from the lake for decent prices. Water and electricity are available. Some folks are purchasing these lots, subdividing and reselling. Other ideas are really cool. One guy pulled in a nice 28-foot camper trailer, built a deck, erected a metal roof, installed a septic tank and he was set for under $30K. I'm just looking for a place in the area to spend 5-6 months a year.
