If you are looking to purchase a coastal home with a strong rental income, this article is for you. Hi, My name is Denis Raczkowski and I live on a North Carolina barrier island called Bogue Banks. I have two oceanfront homes and I am a real estate broker with the Crystal Coast Realty Group so I know a thing or two about utilizing other people's money to defray the cost of home ownership. So, if you are looking for a beachfront home that comes with uninterrupted ocean views and a strong rental history, Bogue Banks, North Carolina should be on your radar and in this article I will tell you why. For starters, Bogue Banks has one of the most unique housing markets compared to other barrier islands along the eastern and Gulf coasts and other North Carolina Outer Banks islands like Corolla, Hatteras, and Bald Head Island. It starts with vacationers like you who return year after year to Bogue Banks and who become homeowners when they see the return on investment they could realize by using rental income to defray the costs of homeownership. Ask me how I know. I own two oceanfront homes on Bogue Banks and my experiences led me to write the book “Live Where You Vacation” which is available on Amazon and Kindle. According to my most recent X-forecast, homeowners on Bogue Banks can make an average of $55,357 in gross rental income a year. And, even with the median sales price of just over $400,000, that’s still a nice ROI.
So what else makes homeownership on this 27 mile long barrier island, a part of the renown Outer Banks, such a good investment? The answer has many facets. It starts with Bogue Banks central location along the east coast, 77 miles east of I-40. Exiting the Interstate, all roads to Bogue Banks are four lanes. The island itself has 27 miles of wide, white beaches, a rich history going back to the 1600’s, beach driving, a 1,000 foot fishing pier and endless outdoor activities. Vacationers who stay on Bogue Banks have easy access to the Cape Lookout National Seashore, Fort Macon State Park and one of the three State aquariums in Pine Knoll Shores. Is it any wonder that well over 100,000 visitors/week make Bogue Banks their vacation home from Memorial Day to Labor Day. Perhaps, one day, a few of them will rent your house.
Bogue Banks is made up of five towns, Atlantic Beach, Pine Knoll Shores, Salter Path, Indian Beach and my home town of Emerald Isle. These towns are connected by history, State highway 58 and mile upon mile of clean beaches overlooking the Atlantic Ocean. The towns also share Bogue Sound. Within each town, you will find neighborhoods and communities that blend modern coastal homes with older cottages creating a one-of-a-kind living experience for those of us fortunate enough to call Bogue Banks ‘home.’
As visitors head south on the Cameron Langston bridge that spans Bogue Sound, they will arrive in Emerald Isle, the western most town on Bogue Banks and the largest, by far, as it spans almost half of the east-west oriented island. That’s right. The island is oriented such that the beaches face south. That is a good thing as homeowners and vacationers alike can enjoy a cooling ocean breeze coming off the ocean from the southwest all summer long. Emerald Isle has a thriving year 'round population of 4,000 and several restaurants and grocery stores like Food Lion and Publix. Emerald Isle is also home to my real estate business and my Flip Flops Donut shop where we serve fresh donuts, kettle-boiled bagels and coffees. The town has several surf shops and a large public marina. In Emerald Isle you will find the first fishing pier on Bogue Banks dating back to 1960 that continues to draw anglers fishing for red drum, Spanish mackerel and flounder. Continuing east on Highway 58 next up is Indian Beach where you will find several modern condominium complexes and ancient maritime forests. A few miles further east is Salter Path, the first community on Bogue Banks with a history that dates back to the 1800’s. Salter Path is home to some of the best commercial fishing stores such as Capt Willis and Homer’s Seafood. Salter Path feels like Bogue Banks before it was discovered. Quiet and small, it offers a bit of seclusion while still having two of the most famous restaurants on the island, The Crab Shack and the Big Oak Diner. Further east is the town of Pine Knoll Shores which was developed by the Roosevelt family out of an expansive maritime forest owned by relatives of the Teddy Roosevelt family. At the eastern end of Bogue Banks is Atlantic Beach which was the first town with a public beach and amusement park, known as The Circle, that dates back to the 1880’s.
So where should you start your search for the perfect beach vacation home on Bogue Banks? Well, you could purchase my book, “Live Where You Vacation,” available on Amazon. Second, you can start doing your online research using the usual real estate websites. But, eventually, you will want to interview and hire a local agent who can advise you on things like flood zones, flood risks, insurance, mortgage lenders, property management, septic and a long list of other important topics. And, that’s where I come in. I’ll put on my real estate hat and tell you that currently, there are 83 active residential homes for sale on Bogue Banks. The demand for beach homes continues to outpace supply. Well maintained homes along the ocean or first row back with strong rental histories are in high demand and sell fast. Average days on market in Emerald Isle is under 50 days. And, when you interview agents to help you find your income generating coastal home on Bogue Banks one of them better be me! Every journey begins with a first step and your first step should be to contact me by clicking on the Home Buying Link . Click on this newsletter link to subscribe to my newsletter. Or, sign up for my blog on my website, www.EIHomesforSale.com, and subscribe to Emerald Isle Vacation Home Specialist on Facebook and YouTube. Thanks for reading!
Awesome post. Good information. Bogue Banks remains under the radar but not for long.