Outer Banks on the Web

“True Friends” With low prices and affordable mortgage rates, there is no question that the current economic conditions have helped to create a tremendous opportunity for real estate investors.  This is especially true on the Outer Banks.  With low prices and great selection, there has never been a better time to buy that second vacation home .  Investing in a second vacation home could eventually allow you to be able to pay for the home and use it as your permanent residence when you retire.  “Buying and renting out a second home as a vacation rental property until you’re ready to move in upon retirement can significantly help offset the cost of ownership,” says Brian Sharples, CEO of HomeAway, the world’s leading online vacation rental marketplace. “The income stream, in addition to tax write-offs for maintenance and repairs, make this an attractive strategy for many people nearing retirement.” According to HomeAway, on average $28,000 of rental income is pulled in from owning a second investment property.  With the  popularity of vacation homes increasing, it is hard to overlook this opportunity.  It is reported that about 87 percent of all travelers that have stayed in a vacation home in the past will stay in one again this year

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Great Time to Consider an Outer Banks Vacation Home