Is it time to turn a vacation into a staycation?
Welcome to summer at the beach! If you enjoy vacationing in Rehoboth and surrounding Delaware beaches, you already know that there’s a lot to love. We have a thriving restaurant and bar scene, laid-back beaches, great outdoor recreation on the ocean, bay, and state parks, renowned local breweries, and so much more. And you are definitely not alone: we’re known as “The Nation’s Summer Capital” for a reason! If you drive across the bridge often, you know that “in-season” is getting longer, too. Many restaurants and businesses are year-round now, and the weather is truly great from spring through early winter.
So why are you still renting?
You might be surprised to find out that buying a beach house is within reach. If you are curious about whether or not a purchase vs. a vacation rental, year after year, is a good investment for you, get in touch with a local realtor – like one of The Lee Ann Wilkinson Group’s six buyer agents – who will help you explore your beach home options.
Delaware is unique for many reasons, and real estate is no exception. We know, everyone likes to think they’re special, but Delaware is every bit the ‘small wonder’ we claim to be! You probably know we have no sales tax, but you may not know our secret, #1 attraction is extremely low property taxes. And if you are considering retirement, either now or much farther down the road, an investment property in Delaware could be beneficial as Delaware offers extra perks for retirees in terms of taxes, too.
Working with an agent who is an expert in the area is the best way to narrow your search and help you with the nuances of local real estate. We can help answer questions like:
- Is now a good time to buy?
- It may seem like any realtor would answer this question with “yes,” but in fact, it’s a great time to buy! Inventory is relatively low, especially in-town in Rehoboth Beach and Lewes, which is evident by how many recent desirable (well-located, well-priced) properties have gone under contract in the first week of being listed. As reference, our team sold more property than any other previous year last year (over 300 units) and it’s been an extremely brisk spring. This news is great for sellers; however, prices are slightly increasing. The main takeaway: if you are serious about a property, don’t delay.
- Where does my money go farthest in real estate?
- Another great asset at the Delaware Beaches is the dramatic range of prices and locations where you can live - yet remain a short bike or car ride to the beach towns. Living “east of Route 1” is a major price differentiator as you can avoid peak traffic by not crossing Route 1. It comes down to your priorities. Living in-town Rehoboth Beach in the heart of the action carries a higher price tag than living in-town Historic Lewes or Milton. A 10-minute drive can buy you a larger home and yard in a community with amenities – even acreage in the country with even lower taxes. So many options! Your realtor can show you around to those hidden gems.
- Where should I start with new construction or a land purchase?
- Even in new communities with a sales center, it’s a great idea to bring a realtor who will represent your interests (at no cost to you because they are paid by the seller). If you haven’t found the home that suits your taste, there are plenty of lot options, and your realtor can help you find a builder that you’ll love.
The Lee Ann Wilkinson Group is the top-selling team in Sussex County, DE, and #6 nationally for Berkshire Hathaway HomeServices, and we’d love to put our experience to work to help you find a beach home!