Coastal real estate has always been a hot commodity. People love to spend time near beautiful beaches and soak up the sunny weather. For a lot of people renting homes near the beach for a short vacation is the only option, as buying oceanfront homes can be too expensive. However, if you can afford to buy real estate near the coastline, you'll find that it is a lucrative investment.
If you're looking for a real estate investment off the coast of North Carolina, you should consider Topsail Island. Located about forty minutes north of Wilmington, this charming island has miles of sandy beaches and a small-town atmosphere. Though it gets many visitors during the peak summer season, it never gets too loud or crowded.
Why is a Topsail property a good investment? Topsail Island's property values have remained steady over the years. Plus, thanks to its idyllic location, the island is a popular vacation spot. You can rent out the property year-round for a sizeable income, particularly during the peak summer months. We'll explain in more depth why you should consider a real estate investment on Topsail Island. Plus, we'll go over some of the factors you should think about when choosing a property.
Popular Vacation Destination
Topsail may not be the best destination for spring breakers looking to party, but it is a popular vacation spot for families and retirees alike. The uncrowded beaches, small local businesses, and abundance of wildlife make this island the perfect spot for a quiet and relaxing trip to the coast. During the summer months, the island comes alive with visitors and part-time residents who are ready to enjoy the beautiful weather.
The island is also a great place to relax during the off-season. With fewer crowds of people and less competition for rentals, there are still people who prefer to visit or stay during the winter months. If you decide to rent out your property during the winter, you'll likely find renters during this time too.
Affordable Beach Living
Compared to other popular beachfront communities, Topsail Island has relatively affordable home prices. You'll find a wide range of home prices, including affordable condo options. In addition, the cost of living is low compared to other coastal communities. You can have a high standard of living at an affordable price point.
Rental Income Potential
Thanks to Topsail's reputation as a popular vacation destination, renting out your island property is easy and can earn you an income. During the peak summer months, visitors will pay a lot of money per week to stay at your property. If you work with a local property management company, you won't even have to worry about all of the small details, like customer service or cleaning.
Though the island's tourism industry slows during the fall and winter months, you might find long-term or short-term renters looking to experience the beautiful North Carolina coast during the off-season. The rental prices might lower during the winter months compared to spring and summer, but it's still a great way to earn passive income.
Steady Property Values
If you're looking at real estate investments, then you'll want to consider the appreciation rates. Topsail Island, like other coastal communities, has stable property values. Because of the high demand and limited supply of oceanfront homes, you can feel confident that your home will retain its value years down the line.
Other Factors to Consider
If you're looking for a real estate investment on Topsail Island, there are a few factors to consider as you shop around for properties. Though your needs may vary, depending on your budget, timeline, and personal preferences, you should always conduct thorough research to ensure that you end up with the right property for your situation.
Though you may not intend on living at your real estate investment, you should consider the schools in the area. The value of your home when you sell it in the future will depend on the local school's ratings. When families look to relocate, they will certainly prefer to live in an area with a great school district.
Poor schools in the area might significantly affect the value of your property. Topsail Island's school district is positively rated. So even if you don't plan to enroll children in the local schools, your property's value will not decrease.
The Property's Amenities
If you opt for a property like a condo, you'll want to consider the community's amenities. Does it have a swimming pool? Does it have convenient features like a private dock for residents? Having desirable features may allow you to make more money, as renting visitors might willingly pay more for specific amenities.
The location of your property is an essential part of its value. If you purchase a property with beautiful views of the water and direct beach access, you'll certainly have higher rent prices. Additionally, if you decide to sell your property in the future, it's less likely to decrease in value. Topsail Island has 26 miles of coastline, which means there are many great properties located close to the beach. You'll find that all three towns on the island have amazing views and beaches, so there are plenty of options.
If you're looking for a great real estate investment, Topsail Island properties are great options. With affordable beach homes, charming towns, and an active tourism season, there are a lot of opportunities to make money on your investment. Plus, oceanfront homes tend to hold their value over the years. For those looking to start their property search, get in contact with a member of our experienced and knowledgeable team.