1) Uncrowded Beaches that stretch for miles!
Let’s face it, over crowded beaches are no fun. The Outer Banks is known for it’s uncrowded beaches compared to other areas of the country. Even at peak season, areas of the Outer Banks like Coquina beach, Pea Island and Hatteras national seashore, have much fewer tourists occupying the beach.
2) Booming tourism industry and the return on investment is high.
If you purchase a house and participate in a vacation rental program, your gross yearly income can equal 7 – 10% or more of your homes purchase price. The Outer Banks also offers great shoulder seasons with many tourists visiting the area well into December. By keeping your rental available during shoulder seasons you significantly increase your yearly rental income. Additionally there are many people seeking winter or year round rental opportunities as well.
The median home price is $295k! Nowhere in the country can you purchase a house this close to the water, or on the water for that matter, at these prices.
4) Ease of location
Easily accessible from VA, DC, MD, NC, PA. It can take less time to travel to the Outer Banks from Northern Virginia than it does to travel to Ocean City MD given the intense Metro DC traffic.
5) Pay far less to go on vacation
You can end up paying far less for your yearly beach vacation by owning a vacation home in the Outer Banks. You can choose to use your vacation rental a few weeks or more out of the year for yourself and your family. People have found that it is much cheaper rent a large house and share the costs than it is to rent individual hotel rooms. You can take advantage of collecting that rent rather than paying for someone else’s beach house. Many have also made holiday traditions of spending the winter holidays with their families in their beach homes. There are many months in the off season that you will have accessibility to a quick weekend getaway in your own vacation home.
6) Abundant with things to do
From site seeing to hang gliding, wild horse observation, off road beach excursions, fishing, kayaking, wake boarding, kite boarding and amazing shopping, you will never find a dull moment in the Outer Banks (unless you want to!). The Outer Banks boasts a unique family vibe as well for visitors of all ages. The Outer Banks offers numerous safe kid friendly activities.
7) Keep it simple, keep it quaint
The Outer Banks is quiet, simple and quaint for a reason; they want it that way! Unlike many other beaches, there are restrictions on the amount of commercial development including height and size restrictions. These restrictions keep The Outer Banks from transforming into a traditional busy boardwalk atmosphere. In The Outer Banks, you’ll find a clear balance between development and conservation.
8) Easily walk to beach and restaurants.
The Outer Banks is not very wide and includes two major roadways, a beach road, and main road. Most restaurants and attractions on the beach road are in walking distance and easily accessible on foot or by bike. You will find restaurants and great attractions nestled between oceanfront homes all along the beach roads.
9) Horses and off road beach
There are not many beaches in the country that permit you to drive on them. The Outer Banks is one of them and it is an amazing experience. You’ll observe wild horses in their natural habitat, and bask in the excitement of taking an off road trail through the sand dunes of Carova.
10) Beach nourishment project
The towns in The Outer Banks spend millions of dollars to keep beaches clean, wide and sandy. There are also over 25,000 acres of protected areas that serve as wildlife sanctuaries and national preserves. These areas protect and conserve migratory birds and other wildlife resources through the protection of wetlands.
*Did you know that if you purchase a property and put it in the vacation rental program, some local lenders consider that a second home? That means you may only have to put as little as 10% down and don’t pay investor rates. You can use the income to offset the mortgage. This is a great way to take advantage of today’s interest rates and prices.
Additionally, if you decide to go the investor route, the lenders will count potential rental income in the qualifying process. Just an FYI 🙂
So there you have it! 10 awesome reasons why you should purchase a home on The Outer Banks. If you are interested in learning about how you can make your Outer Banks home dream become a reality, start with Kathy Samson at Waters Edge Realty. She specializes in real estate on The Outer Banks and can provide the best homes available for sale based upon your unique needs. Ready to get started?