Tags: Invest in Outer Banks Real Estate, homesforsale, Rick Drumm, Outer Banks Blue, Outer Banks homes for sale, Outer Banks Real Estate, outerbanksrealestate
If it is hard to leave the Outer Banks after a visit.... then you are ready to buy a home on the Outer Banks.
If you like the idea of someone else helping you pay for your home here....then you are ready to buy a home on the Outer Banks.
If you have been waiting, watching, hoping for prices to stop going up....then you are ready to own a home on the Outer Banks.
Get the idea? Over the past few years, until recently, the real estate market was on fire – Nationwide – and buying a home involved picking through extremely limited inventory, competing with multiple offers, making bids over the asking price, and finding yourself disheartened and helpless if you were on the losing end of this buying frenzy.
But now, the environment is a little more relaxed, and the inventory, while still low, is better than it has been. Prices may still seem high – but they are not rising at the pace that they were from 2020 – 2022. Interest rates have been the biggest hurdle for some – nearly doubling and reaching a 10 year high close to 8%. The good news is that the rates have come down a little closer to 6.75 – 7.25% and lenders are getting more creative to help buyers get the financing they need.
Consider this. If you are looking for a "safe haven" to invest your money and have preferred stock or similar investment vehicles - you have to leverage out all your money and then you are locked out from other opportunities. If you were to purchase $500,000 in stock, you would have to pay the entire amount up-front to make the purchase. Now you have no more money to invest should you see another great investment opportunity.
On the other hand, if you were to purchase $500,000 in real estate, you would only need 10% to 20% down - $50,000 to $100,000 and now you still have $400,000 to $450,000 making interest in the bank waiting for you next investment opportunity. Think about it - it makes sense.
Sure there will be out of pocket expenses before you get any tax benefits, but rental income can offset these by at least 50%, and you will gain back your investment over time as your down payment will generate more income than sitting in the bank! And don't forget the enjoyment you will receive when you visit your Outer Banks home.
Now, do not buy a property until you talk to me - a top Realtor, with a top real estate company, and over 30 years of real estate experience, I can teach you what to buy, where to buy, when to buy, why to buy, and how to buy. Do not gamble on an inexperienced Realtor. If you'd like a copy of my Guide to Buying (or selling) Outer Banks Real Estate - just request it via email and I'll email it to you asap.
I hope to hear from you!