Owning a home on Cape Cod can be a rewarding and adventurous journey. No matter what your goal is, Coastal Point Properties is here to assist you.
A Few Questions about Your Real Estate Goals
Home ownership on the Cape couples well with a few different goals. Before you begin looking, make sure you answer these questions for yourself:
Are you looking for a primary residence, a vacation home, or an investment property?
If you are looking for a vacation home, are you looking to rent that residence when you are not there?
Are your needs best met by purchasing a single family home, a condo, or a multi family residence?
The answers to these questions will help you narrow down exactly what type of property you should be looking for, and don’t worry, we are here to help you figure it out!
What You Need to Know about Shopping for Homes on Cape Cod
Regardless of the property type you are seeking, there are some general things you need to know about buying real estate on Cape Cod:
The Real Estate Market is Insular
Make sure that you find an agent who specializes in selling and buying homes on Cape Cod. The Cape has its own multiple listing service, so agents that are generalists may not be able to view the bulk of the market. Additionally, choosing an agent with expert knowledge of the area will ensure that you get the best location for your needs. Local agents will know the community. They will be able to answer location based questions that arise as you search for the perfect property.
Location is King
The old trope in real estate is as true as ever. Location… Location… I don’t need to finish, you know it! This is especially important when you are buying in a specialized region like Cape Cod. Consider how long it will take you to get to the mainland. Map out properties you like in reference to beaches, attractions, grocery stores, banks, gas stations and other shopping.
Flood Insurance is a Factor for Many Cape Homes
FEMA recently changed the flood zone maps for the region, and there have been ramifications for the insurance industry. Luckily, we have great connections in the insurance industry and will make sure to get you all the information you need!
Property Taxes are Nothing to be Afraid of
Tax rates on Cape Cod are actually lower than many mainland properties! Depending on where you choose to purchase your Cape home, taxes are much more affordable than you might think.
How to Choose the Best Town for Your Lifestyle
Seek to live where you can play. Beaches, hiking, shopping, and town activities vary across the region. Look into each town. Visit during both off season and high season, and decide which town offers the best of the Cape for you.
The Best Time to Shop for a Home
Anytime is a great time to look for your new home. High season can be a great time to look for houses, because there will be the largest amount of inventory. Don’t feel restricted to only shopping at that time of year, though. If you shop during the off season, you will experience a market with less competition and easier scheduled showings. People who have to sell their house will sell it any time of year, and you can find some fantastic properties in the off season.
Understanding the Cape Regions
The Cape can loosely be classified into four regions: the Upper Cape, Mid Cape, Lower Cape, and Outer Cape. Each of these areas have unique attributes. Find an agent who specializes in understanding the Cape and can make recommendations about which region best fits your needs.
Consider the Resale Value of a Property Before you Buy it
There are a lot of factors to consider when estimating resale value for a property. Many of those factors are the same ones used to determine whether a property is a great investment now. Working with a professional and knowledgeable agent will ensure that you make the strongest investment possible.
How to Offset the Cost of a Vacation Home Through Rentals
Renting your second home out when you aren’t there can be a great way to offset its costs. If you are thinking of renting your future property, do some research. Work with a qualified expert to learn the rental market. We are always here to help.
Don’t Forget About off Season Maintenance
Whether you are planning to live on the Cape year round or winterize your home in the colder months, make sure you plan for adverse weather. The Cape has been pummelled with winter storms and flooding in recent months. That doesn’t mean that owning a home there is a bad move- it just means you have to be prepared. Make some intelligent decisions before there is a problem to ensure that you will be covered in the event of poor weather.
At Coastal Point Properties, we are here to assist you with all of your real estate questions. We hope that this list is a good starting point for you as you consider your Cape Cod purchase. We are available to answer any of your questions, help you get started on your home search, and to make sure that you find the best property for your needs. Give us a call today to start the process of selecting the finest Cape Cod property for you!
