Choosing the perfect Outer Banks real estate can be very exciting. The options boast a wide variety in style, design, and age. But buyers are often confronted with the choice between existing homes or newly constructed homes. It’s important to remember that both offer great benefits and unique opportunities in the East Coast’s premier vacation destination. Here are some things to consider when choosing your OBX real estate property.
Are you looking for a home that needs renovation? Do you want a home that is already furnished? These are some of the considerations you as the potential homeowner will need to make before deciding on an Outer Banks vacation home. Although these costs may seem minuscule, they can easily add up to be a large sum that is unexpected during the months where you will be putting the most money upfront.
Style of the Home
Home design is always changing and will continue to change, especially on the Outer Banks. Existing homes may be more of a ranch-style home compared to new builds that focus on being elevated and growing vertically. Existing one-story homes are especially helpful for those who prefer not to have stairs. New construction homes built with multiple floors offer a buffer from the ground and can often offer better views of the Outer Banks.
Building Code Compliance
Existing homes were built using different code compliances than new construction homes. When considering existing homes, it is recommended to have an inspector review the home’s code compliance and to bring to light any potential code issues if construction on the home occurs. New construction homes are built using the current county codes and meet all mandates and requirements.
Historic Feel vs. Modern Design
If you are looking for a classic Outer Banks beach home, an existing home may be the best option for you. Homes from yesteryear can give your family and renters the homey, nostalgic retreat you desire. The case for the modern home offers new amenities and updated construction that can provide your family the foundation for making new memories and traditions for several years to come. New homes also bring you peace of mind as far as not having to worry about the additional spending that may pop up due to years of previous wear-and-tear on appliances, HVAC, roof repairs, etc. Be sure to tour a model home or the existing home to make sure it is the right fit for you and your family.
Taxes on the Outer Banks vary due to square footage, property size, and age of the home, and sometimes location can even play a role. Be sure to research the tax obligations of any home you are considering to purchase, whether existing or new construction. The price difference between homes can be very large, so knowing what each home’s tax obligation is can make the difference in your home choice.
These are just a few things to consider when you are researching your perfect Outer Banks home. Contact Eillu’s team of experts to assist you in finding the perfect OBX property for your family to enjoy!