Living on the Outer Banks is a dream for many visitors and more people than ever are choosing to purchase real estate on the Outer Banks. Although new construction is popular among buyers, space is limited on the Outer Banks and more are choosing to purchase existing homes to maximize their purchasing value. There are many considerations when finding your perfect second home, investment property or full-time residence. Here are some things to consider when you look for your perfect OBX home!
Location, Location, Location
If you are planning to use your new home as an investment property, location will be critical to rental success. Vacationers love to be on or near the beach to make their experience fun and easy. Owning a home on the beachside becomes more important. If your home will be mostly for your family’s use, homes that are soundside often sell for lower prices and still offer easy access to everything you love about the Outer Banks!
When looking at existing homes, a home inspection is an absolute necessity for buyers. Making sure your potential home meets building codes and standards can not only give you peace of mind, but help lower your insurance rates. Homes that were built in decades past may sit below the flood plain and have higher insurance rates. Check with your home inspector regarding this issue as well as town requirements.
Size of Home
Choosing the right size home can help make your family vacations more pleasant. Owning an Outer Banks home usually means lots of visitors and being able to accommodate them is essential to everyone’s fun. Having 1-2 extra bedrooms can help you handle unexpected and large groups of guests with ease.
If you are looking for a fixer upper, consult with the town the home is located in as well as a contractor. Renovations and additions must meet town and county standards and may have additional paperwork and other requirements to meet specific to this area. Consulting with area professionals is advised to save you time, money and headache throughout the entire process. If you are looking at a small lot that only allows you to build up it is advised to meet with the town specifically about maximum height requirements if the home is near the beach road.
These things to consider can help narrow your home search down to the ideal homes for you. Have more questions about Outer Banks real estate? Contact Eillu and start accomplishing the OBX beach dream!