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Oceanfront Real Estate
By Kevin O'brien
Why buy oceanfront in the Outer Banks The number one reason to buy oceanfront real estate anywhere is location. It is not possible to have a more desirable location than oceanfront real estate. Its status as the most desired location also makes it the most expensive. Currently oceanfront lots in the Outer Banks are ranging from $1,700,000 in Whalehead to around $500,000 in Swan Beach (4wd area). The price on an oceanfront lot is also affected by its location as you can see from the wide range of prices for oceanfront lots. Location for an oceanfront lot is affected by the community or subdivision it is in. Highly sought after communities with premier amenities will draw more for there homes and the subsequent lots, than homes in a less desirable community. The affect the subdivision can have on the price varies. Another often overlooked thing is, you will often find the value of the lot far exceeds the value of the home that is built or is being built. Though the cost of construction can not be considered cheap it is usually cheaper than the purchase of the lot. With an oceanfront home you have the ability to extend your rental season. Depending on where in the Outer Banks your oceanfront home is located will determine how long its rental season lasts. Oceanfront homes in communities that offer indoor pools for example can often run there rental season year round to achieve the maximum rental income. If your oceanfront home is well equipped, priced correctly, and open to a wide market you should draw a large amount of rentals. Almost being able to rent your home year round. There are a couple drawbacks to oceanfront homes. To some they may seem insignificant to others they may be much more significant. The biggest drawback is beach erosion. Obviously as a home owner you do not want the beach in front of your home eroding away. The second drawback is oceanfront homes often require additional maintenance. Being right on the water with the salt air, will force you as a home owner to practice yearly maintenance to keep your home in prime working order.
If you are interested in learning more about Outer Banks Oceanfront homes or lots send me an email.
This intel first appeared on: http://realestateouterbanks.org/outer-banks-real-estate/why-buy-oce...
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