Buying a Second Home in Wilmington, NC
Why, Where, When, What, and How
Can you afford not to miss out?? Your purchasing power is at an all time high. Now is the time to be buying a second home in Wilmington, NC.
Now may be one of the best times in our or your lifetime to buying a second or vacation home in Wilmington, NC . Whether you are dreaming of a place at the beach, a mountain retreat, a secluded hide-a-way, or looking to profit from your investment, today’s home buyers have many opportunities.
We are fortunate to live and work at one of nicest areas of the country, Wilmington, North Carolina, where some of the most beautiful beaches are located on the east coast. It also helps that being a REALTOR® for the past twenty plus years has given us a little insight into what to expect when purchasing that special second home. Now is the time to be buying in Wilmington, NC….
Who Should be Buying a Second Home in Wilmington, NC?
So who is buying a second home in Wilmington, NC?
Retirees? Investors? Young families? Empty Nesters? Well they all are buying a second home in Wilmington, NC . Should you be buying now? You have to know yourself and assess your own goals, along with your personal finances and the affordability of the property.
When is the Right time to be buying a second home in Wilmington, NC?
With the downturn in housing prices with many U.S. regions taking hits, there are deals to be had. Our area of the Cape Fear region and Wilmington, North Carolina, was not immune to the downturn. Prices at some of the local beaches, including Wrightsville, Carolina, Topsail and Kure Beaches, are in some cases, half of 2005 levels. Surrounding towns and communities within the 20 mile radius of Wilmington are also experiencing drastically lower prices. Rates for borrowers are at historic lows, as low as 3 .5% 2 % for a 15 year loan. There is plenty of inventory from which to choose along with motivated sellers. So now might be the best time in history to think about that beach area home. It’s time to think about buying a second home in Wilmington, NC or the Cape Fear Coast Region.
Why Should I be Buying a Second Home in Wilmington, NC?
We look at a second home as an investment and consider areas where homes are going to appreciate….think what would you do if you needed to sell next month. Generally, the interest on the mortgage of your second home is tax deductible, and are subject to additional tax breaks. Consult your accountant for more information on this area, as they are the Expert when it comes to tax breaks. Family enjoyment with the kids, and grandkids in your second home will provide memories that last a lifetime. Security, in always knowing you have that special “place by the beach” for your later years is very important to today’s families. And don’t forget….you also have the water…..beaches, rivers, lakes and the Intracoastal Waterway. There is nothing like Southern Living and southern hospitality to say “honey, we are home.”
We can help with that one! We have been residents of Wilmington for the past 14 years relocating from Saratoga Springs, New York. We used to vacation in the Cape Fear Coast Region from the mid 1980’s with our family and kids. Kiddingly, Dick would always say “Living in upstate NY is a long walk to the beach.” Our expertise comes with knowing the areas, knowing what to look for, where the buys are. We will work in your best interests to save you money and make your dreams come true. Check out our Wilmington Property Search
Wilmington, North Carolina of course! We can help to direct you to some of the best buys in the market. Location, Location, Location is the buzz word for real estate and Wilmington, North Carolina fits that bill. Great weather, low taxes, cultural activities, shopping, sightseeing, or outdoor activities to name a few things to do…..and the bottom line is it’s a great place to live.
There will always be naysayers and pessimists. However, check out some of the links included here…top sites like CNN, Money magazine, Southern Living and others who believe Wilmington should be included in any search or discussion for a second home.
As you balance all of the factors, remember that a location which gets you a great house at a reasonable price will probably require you to pass a similar savings on to future buyers
If you are new to the area or don’t have an agent referral to help you with your home search, turn to your constant, glowing friend: the Internet. You can read an agent’s philosophy plus a list of local and professional affiliations on the agent’s website. E-mail a few. Set up a meeting with any you like.
At the meeting come prepared with these questions:
- Do you live in the area? If so, for how long? You want an agent who is quite familiar with the area. Ideally, you want someone with “insider” knowledge of commercial trends, local schools and development plans.
- How many people have you (not your firm) helped buy a home in the past three years?
- Can you refer me to several mortgage brokers? Recommending ethical mortgage brokers, especially after the recent mortgage crisis, is critical.
- Do you prefer vanilla or chocolate ice cream? See how they respond to curve balls. A sense of humor is a great asset during stressful situations!
Go with Pros, like Dick and Sandy Beals, they know what it is like to start a new beginning and can’t wait to help you with yours. Are you interested in receiving a weekly list of the Best Buys for Second and Vacation Homes? Fill out any of our contact forms included here, and we will send out our weekly lists to you! Dick and Sandy are ready to help you with buying a second home in Wilmington, NC.