A home on the beach exudes a certain appeal unlike any other, and Outer Banks real estate offers some of the most beautiful beachfront properties you will ever see. In the midst of work demands, family conflicts, and fatigue, it is easy to imagine yourself relaxing on the front porch of your oceanfront home, sipping a cool drink, and breathing in the fresh salt air. If this dream sounds too good to be true, think again! If you have ever considered purchasing a home on the Outer Banks, now is the time to make that dream a reality.
5 Reasons To Make Your Dream Come True
The current state of the economy has created the ideal climate in which to purchase a new home at the Outer Banks. In real estate, this is known as a buyer’s market. Here are five reasons to consider purchasing an Outer Banks home this year:
- The economy is turning around. The economy has just experienced a significant recession, but now it has turned. Unemployment rates are falling, desirable jobs can be found more easily, and most people feel more stable financially. As financial pressures ease and the economy begins supporting positive gains, it will be more feasible to find an affordable home that meets your expectations.
- Foreclosures for sale. The economic downturn meant that many people were not able to make the payments on their homes. These homes went into foreclosure and can now be purchased for a fraction of the original cost. Many Outer Banks homes have reached the lowest prices realtors have seen, and they may not ever be this low again. You can benefit from these low prices by acting now to get a wonderful deal on a luxurious island home.
- Lower property taxes than many other resort areas. Many resort areas have notoriously high property taxes, creating a financial burden for people seeking to own a home there. The Outer Banks, however, has lower property taxes than many other coastal resort markets, meaning that you can own and maintain a property in the Outer Banks much more affordably than you could elsewhere.
- Low interest rates. Interest rates can sometimes make or break a sale. Right now, interest rates continue to remain at historically low rates. These low rates drive the current buyer’s market and make it easy to purchase a home. You can get an attractive interest rate even on a large loan, meaning that the home you want to buy may be more affordable than you thought.
- Year-round activities. The Outer Banks boasts some of the best fishing, hunting, and water sports recreation you’ll find on the East Coast. But don’t think of it as a summer destination only. During the fall, you’ll enjoy balmy weather, fewer crowds, and some of the Outer Banks’ best cultural offerings. In addition, the water is still warm enough for swimming, while chilly evenings allow for a crackling fire in the fireplace. If you’re considering a Christmas visit, you won’t be disappointed! The Outer Banks holiday calendar is chock full of festive, family-friendly events. Enjoy twinkling Christmas lights, attend the First Flight celebration, indulge in island Christmas shopping, and visit Santa at some of the area parades or special events. And of course, spring offers many attractions as well, giving you the opportunity to relish the beauty of nature before the summer tourist season begins.
Making Your Dreams Come True
A dream isn’t just a wish your heart makes; it also requires some effort to make it a reality. Your first step in purchasing your Outer Banks dream home should be to talk with a realtor about your options. Whether you’re looking for a small, low-cost home where you can put your feet up in the evenings after a day in the sun or a luxurious coastal home designed for entertaining and relaxation, your realtor will show you a variety of options that fit your needs and price expectations.
Once you know what homes are available, you can visit them to gain a better feel for the islands and for the houses themselves. Your realtor can help you research tax records, interest rates, available foreclosures and area attractions that may influence your buying decision.
Whether your ideal island getaway includes a full schedule of activities or whether you plan to spend your days lounging on the beach, your home will serve as the staging ground for many years of memories and relaxation. Low prices and interest rates combined with a favorable economy mean that you have more purchasing power now than you may see again for many years. If you’ve been longing for a home at the Outer Banks, now is the time to make that dream a reality. Your beach home is waiting!