Resort Realty Expert Tips When Considering Buying an OBX Vacation Home
Your vacation on the Outer Banks every year. And why not? With miles of pristine beaches, endless activities, cultural attractions and fresh seafood galore, itâ€™s a beach loverâ€™s dream.
Stop dreaming and start living. From Corolla to Hatteras Island, home prices on the Outer Banks are more affordable compared to other vacation areas and there are many investment opportunities waiting for you. Relax in your very own Outer Banks beach home. Let us show you howâ€¦ Â
Many real estate agents will tell you to get pre-approved for a mortgage. Do this even before you start looking at properties. This lets you know exactly how much you can afford, so you donâ€™t waste any time looking at properties that are out of your league. It also tells the agent and sellers that youâ€™re serious about buying.
Analyze your costs.
Make sure you do your homework and are aware of all local costs associated with owning a home on the Outer Banks. Property taxes, insurance, and other costs could be much different from what you are used to. Create a budget before you start your Outer Banks home search so you donâ€™t get in over your head.
Finding the right real estate agent.
When youâ€™ve decided to make the Outer Banks your second home, itâ€™s a good idea to work with a licensed OBX real estate agent to guide you through the process. Start by interviewing potential agents to ensure the best fit for your needs, since itâ€™s hardly a one-size-fits-all proposition. Resort Realty has a team of over 45 real estate professionals uniquely qualified to offer unparalleled resort real estate services.
Finding the perfect vacation rental home.
Oceanfront, soundfront, between the highways? Private pool, rec room, elevator? When searching for your Outer Banks vacation rental home, it can be hard to figure out where to begin. We recommend beginning your search while vacationing on the OBX, searching homes currently listed for sale on the OBXMLS. Resort Realtyâ€™s real estate sales website can help you locate homes by town, community, sale price and even location to the beach.
Visit us onlineÂ and begin the journey to owning your piece of paradise on the Outer Banks!
Not every day is a vacation in your vacation home.
Although one of the perks to owning a second home on the Outer Banks is staying in your vacation home, be prepared to do some â€œworkâ€ during your getaway. A rental home needs constant updating, enhancement and maintenance, so be sure you are ready for the commitment.
Getting the best return on your investment.
A smart Outer Banks vacation home investment incorporates rental income into the budget.
Thousands of Outer Banks vacationers visit the area annually. With all the amenities that come with an Outer Banks vacation home, many OBX guests prefer to stay in a vacation rental home rather than a hotel. Making money while you are not using your home is a win-win. Vacation rental income will allow you to build equity and may even eventually pay off the property mortgage.
Hiring the right management company.
Management of your home is about more than just revenue. Marketing, maintenance, and overall care for your property are crucial when you are an absentee owner. Enjoy the peace of mind knowing that there is someone making sure frozen pipes or a leaky roof are noticed and taken care of quickly.
Resort Realty has been managing OBX vacation homes for nearly 30 years. We would welcome the opportunity to meet with you and discuss your rental management goals and revenue potential. Visit www. ResortRealty.com and check out our portfolio of nearly 600 vacation homes currently managed and learn more about the Resort Realty management program.