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Buying an Outer Banks Investment Home
So, you’re thinking about buying an investment home on the Outer Banks of North Carolina. Congratulations! Our TowneBank Mortgage Loan Officers located on the Outer Banks are ready and well-equipped to help you with your second home purchase.
Here are some helpful tips about financing a vacation home:
- A vacation home, or second home, is a residence that you plan to occupy for part of the year. It’s typically used as a vacation home but could also be used as a property that you visit on a regular occasion—such as an apartment in a city you visit frequently for work.
- Typically, vacation homes must be located a certain distance from your primary home, or in a resort area, such as the Outer Banks of North Carolina. You cannot typically own another home in the same area.
- Borrowers who want to purchase an Outer Banks investment home must have enough income to qualify for monthly payments and will typically need a sizable down payment, of at least 10%.
- To qualify for a second home, a borrower must ensure that the home will be occupied only as a second home and that the property will be kept available for the borrower’s exclusive use and enjoyment. This means that the borrower cannot use the home solely as a time-share or rental home. If there is seasonal rental income on the home, you cannot use any rental income for qualifying. This doesn’t mean you can’t rent out your vacation home on occasion, which is a common misconception.
- Your vacation home is considered a dwelling unit if you use it for personal purposes for 14 days during a taxable year or use it for 10% of the total days you rent it out to others. In fact, borrowers may rent out their vacation home for 14 days throughout the taxable year without reporting any income to the IRS. You cannot deduct expenses associated with renting the property, but can still deduct mortgage interest, real estate taxes, and casualty and theft losses, according to the IRS. You should consult your tax advisor for more details.
- Local property management companies allow homeowners to be absentee owners but still have full control to use the property whenever they want for however long they would like. The property management company can help you keep track of rental usage and report it to the IRS.
Discover your next Outer Banks investment home and contact a Coldwell Banker Seaside Realty agent for all your real estate needs.
When you’re ready to commit to a second home in paradise, give one of our Outer Banks Loan Officers a call. Visit TowneBankMortgage.com for more information.
NMLS# 512138
TowneBank Mortgage is not a tax consultant. Contact your tax advisor for more details. The information contained herein (including but not limited to any description of TowneBank Mortgage, its affiliates and its lending programs and products, eligibility criteria, interest rates, fees, and all other loan terms) is subject to change without notice. This is not a commitment to lend.
The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees, and all other loan terms) is subject to change without notice. This is not a commitment to lend.
Disclaimer: Content provided by TowneBank Mortgage for informational purposes only. The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees, and all other loan terms) is subject to change without notice. This is not a commitment to lend. TowneBank Mortgage NMLS #512138. Equal Housing Lender
Fall Open House Ideas
Do you have an Outer Banks property for sale? As the cooler months approach, fall is a great time of year to host an open house. The summer hustle is over, and September through November are historically busier months for the Outer Banks real estate market.
Open House Ideas For Your OBX Property
- Fall Decor: Decorate with mums, hay, pumpkins, and all things fall outside and inside. Add a few cozy throw blankets and perhaps cinnamon-scented candles.
- Refreshments: Consider offering fall-themed refreshments such as; apple cider, a fall charcuterie board, cookies from a local bakery, or caramel apples.
- Promote on social media: Be sure that your Outer Banks realtor promotes your open house on all their social media channels. Cross-posting to local Facebook groups is also a great way to get more attendance at your open house.
- OBX Golden Hour: Consider hosting your next Outer Banks open house in the evening around 4 pm-6 pm before the sun completely sets. This time of day, depending on the location of your home, you can create a warm and inviting backdrop to your home for potential buyers.
Referred to as “locals summer”, fall can be a great time of year for your next open house. If you are looking for an Outer Banks property or OBX agent, contact Coldwell Banker Seaside Realty at cbseaside.com.
2023 Outer Banks Parade of Homes
2023 Outer Banks Parade of Homes hosted by the Outer Banks Home Builders Association
Make plans to attend The Outer Banks Home Builder Association’s 31st annual Parade of Homes- October 5-7, 2023.
The 2023 Outer Banks Parade of Homes (OBPH) experience is Columbus Day weekend and the tour hours are Thursday-Saturday from 10:00 am-6:00 pm. During these three days, you will have exclusive access to some of the most innovative, exciting homes on the Outer Banks.
As a tour visitor, you will have access to the masterful builder’s information and are encouraged to reach out and discuss your homebuilding plans and dreams!
October 8: New for 2023, the Outer Banks Home Builders Association will be hosting a Trade Expo for its members at the Ramada Inn in Kill Devil Hills. Take the opportunity to meet with the Outer Banks’ businesses that support the OBX building industry and see their products firsthand.
Coldwell Banker Seaside Realty Agents will be available all weekend to assist OBPH attendees and discuss any Outer Banks real estate opportunities and questions.
Learn more about the 2023 Outer Banks Parade of Homes here.
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Outer Banks Community | Martin’s Point
Outer Banks Community Feature: Martin’s Point
As you enter the Outer Banks via HWY 158, the Outer Banks community of Martin’s Point is situated on the sound, at the base of the Wright Memorial Bridge. Delivering some of the best sunsets on the Outer Banks, this neighborhood is one-of-a-kind.
About the neighborhood.
This private, gated community is a highly sought-after neighborhood on the Outer Banks. With more than 385 homes currently in Martin’s Point, most of the home lots are partial to heavily wooded, private, and spacious. The waterfront community is located within the town of Kitty Hawk, NC, and offers walking trails, parks, tennis, and a private marina. The styles of homes you can expect to see in Martin’s Point range from contemporary to Cape Cod to more traditional coastal style.
Martin’s Point Sunset
Beach, shopping, and more.
Martin’s Point is less than a mile from the beach and within biking and walking distance to local restaurants, grocery stores, coffee, and pizza shops, as well as larger retailers like Marshalls, Walmart, and Home Depot.
If you are looking for an Outer Banks property in a waterfront, private, tranquil community, consider Martin’s Point!
View all active listings in the Outer Banks Community of Martin’s Point and find your next Outer Banks home here!
Benefits of Selling this Fall
Benefits of Selling this Fall
Fall is upon us! If you’ve been considering putting your home up for sale and buying a new one, here are a few benefits that come with the Fall season.
Buyers are more serious this time of year
Buyers who are still actively looking during the fall tend to be more motivated, whether they
have a pressing matter such as a job change or major life change such as a baby, marriage, or divorce that is forcing them to move. Motivated buyers could work in your favor.
Fall colors highlight the home
Sure, spring brings flowers and fresh buds, but the fall foliage is equally as beautiful. Plus, staging with a fall or holiday theme can help potential buyers imagine themselves spending the holidays at your home.
Buyers can get situated before the holidays
If you’re buying or selling in the fall, you could be in your new home before the holidays. Plus, with fewer people moving during this time, you’ll have better access to movers and other resources that are clogged up during the spring and summer.
More accurate pricing
It’s easier to accurately price your home. With over 9 months of accurate sales data from this year, your real estate agent can calculate the best sales price for your home. This will help your home sell quickly and for maximum value.
Inventory is limited
Buyers are having a difficult time finding homes on the market that fit their needs. Inventories are low in most areas throughout the country and unable to meet demand. This means less seller competition and increased buyer interest, which could result in bidding wars or a higher sales price.
Take advantage of those year-end sales
If your new house is a fixer-upper, jackpot! The fourth quarter can be a great time for renovations. Fall is the time to save on new floors, windows, cabinets, air conditioning, and really anything that is considered off-season. Companies and tradesmen want to keep their people busy and are willing to give you a price break as an incentive.
Start searching for your next Outer Banks property today!
The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. This is not a commitment to lend.
Disclaimer: Content provided by TowneBank Mortgage for informational purposes only. The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. This is not a commitment to lend. TowneBank Mortgage NMLS# # 512138. Equal Housing Lender
Fall Outer Banks Events | 2023
Things may begin to slow down, but there are so many great Fall Outer Banks events to check out! From surf contests to music festivals and everything in between, some of our agents’ favorite annual events take place in September and October on the OBX.
Featured Fall Outer Banks Events
Hatteras Island Events
Day at The Docks
Hatteras Village
September 15-16, 10am
Two Days of Events:
Friday, September 15, 2023
Seafood Under the Stars – Chef prepared a six-course dinner with optional wine pairing featuring locally sourced seafood. Friday, – Light hors d’oeuvres begin at 6:30 PM, Hatteras Civic Center, Hatteras Village Tickets: $55 each, $75 with wine pairing
To purchase reserve seating online here.
This event is limited to 100 seats.
For more information email: hatterasuninterrupted@gmail.com
Saturday, September 16, 2023 –
Fishy K Fun Run, Chowder Cook-off, Demos and Dock Chats, Children’s Activities, Main Stage Activities, Seafood Throwdown, Exhibitors and Vendors, Community Space, Blessing of the Fleet.
View all event information here.
Nags Head Events
ESA Easterns Surfing ChampionshipJennette’s Pier
September 17-23
The largest amateur surfing organization in the world hosts the season’s “grand finale” where the best of the best surfers go head to head.
View all event information here.
Nags Head Surf Fishing Tournament
October 4-6
For a community-driven fishing tournament, check out the Nags Head Surf Fishing Tournament where skilled 
and amateur anglers show off their skills up and down the beach. The event includes lunch for participants on both days and social events each evening, where there will be food buffets and beer.
View all event information here.
Outer Banks Seafood Festival
Soundside Event Site
October 21, 2023
Outer Banks Seafood Festival is a fun and educational experience promoting, honoring, and celebrating the area’s seafood heritage and community. The festival offers opportunities to meet Outer Banks watermen and see the tools of their trade, including boats, crab pots, and pound nets. You’ll find educational booths, live music, an arts and crafts village, and, best of all, the chance to eat fresh, local seafood from more than a dozen restaurants.
View event information here.
Outer Banks Brewtag
Soundside Event Site
October 28, 2023, 12 pm-6 pm
Presented by Kitty Hawk Kites.
How far can a keg fly? Hosted by the Rogallo Foundation, this event is a celebration of flight and beer. Brewtag teams from all over the East Coast compete to see who can launch and fly an empty 1/6 keg barrel the farthest. The sky is the limit as to how creative your homemade flying contraption can be! Individuals and teams are welcome to register and be part of the unique keg flying competition. Live music by local artists throughout the event pairs well with the local and regional craft breweries on-site and local food vendors ready to serve! This family-friendly event will also feature plenty of activities for the kiddos with a kid zone featuring games and crafts and lots of room to hang with friends, and kids, and watch the show!
View all event information here.
Duck Events
Duck Jazz Festival
October 7-8
Duck Town Park
The Town of Duck brings jazz to the Duck Town Park annually on Columbus Day weekend. Enjoy live music from a variety of jazz performers with a full day of performances on two stages at this non-ticketed festival. Extend your Outer Banks stay to enjoy jazz-themed events and promotions taking place throughout Duck businesses and beyond. Food and drinks will be available to purchase from various town eateries and chairs will be available for rent. Attendees are invited to bring food, coolers, chairs, blankets and pets. No beach umbrellas or tents are permitted at the event. The Duck Jazz Festival will be held rain or shine.
View event information here.
September and October are full of great Outer Banks events!
For a full list of everything happening on the OBX, visit: outerbanks.org
Annual Seaside Day
On Tuesday, August 29th, our team celebrated Annual Seaside Day at John’s Drive-In in Kitty Hawk. After a busy Outer Banks rental season, we always look forward to getting together for this annual event.
Thank you to Outer Banks agent Chelsea Jordan and her family for hosting us-we had such a great time!
Discover Ocracoke Island
Discover Ocracoke Island-Ocracoke is just a short ferry ride from Hatteras Island. This cozy little harbor town is bursting with natural beauty, offers miles of undeveloped beach and picturesque landscapes. If you are lucky enough to take a short trip over to Ocracoke Island from the OBX, we’ve got your list of must-do’s when visiting Ocracoke.
Things To Discover on Ocracoke Island
Places to eat on Ocracoke Island
- Howard’s Pub
- Dajio Restaurant
- The Fudge & Ice Cream Shop
- Hang 10 Smoothies
- Smacnally’s
Things to do on Ocracoke Island
- Renting a golf cart is the best way to get around the island
- Visit the Ocracoke Lighthouse
- Enjoy a beach day
- Shop the local boutiques and novelty shops
- Stop in Zilly’s for a glass of wine and enjoy their porch under the trees
Whether you take a day trip or spend a few days-Ocracoke Island is a must-visit. We are certain you will fall in love with this simple yet lovely coastal town.
July 2023 Top Producers
Coldwell Banker Seaside is proud to announce the Top Producing Outer Banks real estate agents for July 2023.
July 2023 Top Producers
July 2023 Teams of the Month:
Kill Devil Hills: The VanderMyde Group
Kitty Hawk: The Garcia Team
July 2023 Agents of the Month:
Kill Devil Hills: Melissa Morgan
Kitty Hawk: Sunny Berle
Elizabeth City: Kimberly Hansley
July 2023 Top Five Agents:
1. Sunny Berle
2. Cameron Griggs
3. Martin Griffin
4. Melissa Morgan
5. Haley Winslow
July 2023 Top Five Teams:
1. The VanderMyde Group
2. The Garcia Team
3. The Mausteller
4. The Driscoll Team
5. The Sandman Team
Coldwell Banker Seaside Realty July 2023 Outstanding Performance:
1. Brook Sparks
2. Cameron Griggs
3. Sunny Berle
4. Joanna Kane
5. The Mausteller Team
6. The VanderMyde Group
Congratulations to all of our Top Producers for the month of July, 2023!
View all Outer Banks properties for sale.
Hatteras Island August Events
If you have ever been to Hatteras Island, it is a destination all its own. Each little village has something incredible to offer. Things move a bit slower “down south” and we just love it! If you are looking to take a vacation to Hatteras Island or perhaps just a day trip, we have discovered a few Hatteras Island August events and fun things to do while you are in the area.
Hatteras Island August Events
Hatteras Light a Night
Through August 29th, 2023, bring blankets and chairs for the evening of stars and stories on the grounds of the Cape Hatteras Lighthouse.
43638 Lighthouse Rd, Buxton, NC-Park in the Cape Hatteras Lighthouse parking lot.
9pm-9:45 pm
Tri Villages Market
Through August 16th, the Tri Villages Market is held every Wednesday, rain or shine, through Look for the Camp Hatteras sign oceanside and you will see the artist & makers’ market tents set up across Highway 12 on the soundside.
24798 North Carolina Hwy 12 Rodanthe, NC 27968
9am-1pm
Historic Shipwreck Rescue Reenactment
Every Thursday through Labor Day 2023. See history come to life! Widely known for its rich history of saving souls in peril from the sea, the Chicamacomico Life-Saving Station has, for many years, provided a re-enactment of the beach apparatus rescue drill, recognized as an integral part of the Life-Saving Service. Meet on the porch promptly at 2 and hear an introduction to the history of Ocean rescues from the early 1800’s to present before proceeding out to the drill field where Chicamacomico’s Drill team will explain the equipment, and conduct the drill culminating with the rescue of a lucky kid from the audience.
23645 N.C. Hwy 12 Rodanthe, NC 27968
2pm every Thursday through Labor Day
View more info here.
Meet The Artist-Frisco Native American Museum
Learn a new craft, discover your own talents or just take advantage of the opportunity to meet and interact with a working artist. Each Friday, the Frisco Native American Museum will “showcase” an artist at work. Visitors will have an opportunity throughout the day to ask questions and interact with an artist and to make their own special item during a hands-on activity/program at 2:00 PM.
Details will be posted on the website for each available session as well as in the museum the day of the event. Meet the Artist sessions are included in museum admission; however, there will be a modest charge for supplies if individuals want to make their own craft.
Admission: Admission: $5/ seniors, youths, & college students with ID; $8/ individuals, $20/ family w/up to 4 youths
2pm-4pm every Friday through September 1, 2023.
Run Hatteras 5k Race Series Avon, NC
Run Hatteras AVON, NC Friday’s at 8 AM June 30 – August 18 Summer 2023
Fee: Adult 5k $38, Teen 13-17 $35, Active Military Veteran $35, 12 & Under $30
Crazy About Beads!-Frisco Native American Museum
August 25th at 2pm.
Native peoples used Finger Weaving to make belts and sashes that shared family and tribal stories. You will be learning the basics and making your own bracelet, or hat band, or choker. You will also take home a craft for making gifts.
53536 NC Hwy. 12Frisco, NC 27936
Have you ever considered buying real estate on Hatteras Island?
View all Hatteras Island property for sale.
