The fall is an excellent time to buy on the Outer Banks!. With interest rates still low and many attractive loan programs available to buyers of all types, you can't ask for a better time. Home values have remained stable, and they are not decreasing as previously indicated last spring.
What I hear from many of my buyers are; I don't want to over pay, I'm not ready to retire yet, I don't have enough money to put down. Let me address these responses one at a time. If you don't want to over pay, then you need to buy now. The market is starting to show signs of recovering. So if you wait your chances of paying more are highly likely. Why put off tomorrow what you can do today! Don't be left saying, "I can't believe I missed out on the property" Why wait til you retire? If you find that perfect property, rent it out until you are ready to make the move and relocate or use more yourself. Many properties do very well in either a weekly rental or long term rental program depending on their location and how much you want to use the property until you retire. And remember, it may be easier for you to buy now rather than when you retire.
The biggest push back I hear is I don't have enough to put down. There are many creative options for finding that down payment. Equity lines on your primary residence are the easiest and most used, as well as refinancing to pull cash out. That down payment isn't really as large as you think. In many cases, depending upon the purchase price of the property, many home buyers buying as a second home can do so with as little as 10% down, and in many cases you can still rent the property.
If you are buying as a primary residence, then there are a myriad of financing options for you, little or no down payment, down payment assistance, mortgage certificates to reduced yourpayment or tax breaks depending on your employment status. I can put you in touch with the best lenders to get you the absolute best deal.
So with all this said, what are you waiting for?
Author:Michele Clark Phone: 252-305-2478 Dated: October 27th 2016 Views: 463 About Michele: I have had the privilege of selling Outer Banks property for over 21 years. Whether you are a first ...
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Since 1996 I have been proudly selling real estate on the Outer Banks of North Carolina. I can think of no other career than to help people realize their dream of home ownership on these beautiful barrier islands. I represent buyers and sellers, whether you are a first time buyer, seasoned investor or somewhere in between. You can count on myself and my team to be with you every step of the way. Honesty and Integrity are the core values of our company.