Buying an investment property in Beaufort NC
Thinking about buying Investment property in Beaufort NC to use as a long-term rental, a second home, or a vacation rental property? You’re making a smart decision.
Although it’s more than 300 years old, (and famed as the third oldest town in North Carolina), the town of Beaufort is enjoying an influx of interest as a vacation destination, thanks to its laid-back atmosphere, brilliant waterfront views, and long list of attractions and amenities that are found just steps away from the water.
The proof is in the press. The town of Beaufort was named as one of the best small towns in the country for vacationers by several national publications, including Travel + Leisure Magazine and Budget Travel Magazine, and more and more visitors are requesting vacation rentals in this picturesque corner of the Crystal Coast.
So what type of Beaufort NC properties should a real estate investor be considering to ensure maximum return on investment, (which still enjoying a temporary retreat to call home?) The answer depends on what kind of “rental” property you want to purchase.
Both the long-term and vacation rental markets are solid in Beaufort, so the first decision a real estate investor has to make is whether they want a property that’s rented month to month with continual and unchanging income, or whether they are interested in a weekly vacation rental that they can utilize for a quick escape as well.
Homes for sale in Beaufort NC that can double as a long-term rental are plentiful, and especially when investors look outside the heart of the downtown area to the more residential neighborhoods that are found on the outskirts of the Historic District. Close to local schools, services, and grocery stores, these Beaufort NC properties for sale are generally less expensive than the waterfront homes along Front Street, and have more features that would be attractive to a long-term resident. Big backyards for kids and dogs, multiple bedrooms, and a quiet setting are all hallmarks of Beaufort NC homes that would attract a long-term renter.
Vacation rental investments are a little bit different. Investors who are looking for Beaufort NC homes to rent out to visitors on a weekly basis will want to consider factors that would attract a vacationer to the area, such as location and amenities.
A waterfront Beaufort NC home is always a popular destination, and investors should also look at Beaufort NC properties that are in the heart of the Downtown Area – either along Front Street, or tucked way on one of the adjoining side streets that make up this 12-block center of town. These charming cottages will be walking-distance close to all the top tourist-oriented destinations, including restaurants, maritime shops, water-based tours and activities, and cultural attractions like the North Carolina Maritime Museum or the Beaufort Historic Site.
Regardless of whether your interest lands on a long-term or vacation rental, the next step after determining what type of Beaufort NC home you want to purchase is to reach out and get expert help.
An established local real estate agent will go a long way in helping you find Beaufort properties for sale that meet your needs, and can also explain how the process works, and what kind of ROI to expect. After all, there are a number of factors that determine both your rental price as well as your expenses, (like homeowner’s insurance, utilizes, or subdivision / community fees), so it’s important to garner an assessment of actual costs and profit right off the bat.
The next step is to chat with an experienced property management company. A valuable asset for any second homeowner – especially owners who do not live next door to their rental – a property management company can help with all aspects of managing your home, from finding weekly or monthly tenants, to performing regular maintenance, to ensuring the property is not damaged while it’s being rented.
There’s an old saying that has been attributed to everyone from John Wayne to Mark Twain that goes “Buy real estate. They’re not making any more of it.” And in the popular and historic town of Beaufort – a community that’s attracted visitors for more than 300 years – this old trope certainly applies.
With gorgeous water views, incredible history, posh shopping and dining options, and a vibrant sense of community, Beaufort NC is the perfect place for buyers to purchase a rental property – both as an investment, and as a pretty destination to call a home away from home.