Thinking About Buying A Second Home On Bald Head Island? Read This First.
Posted on February 18, 2020
Safe to say, most people who have rented a vacation home on Bald Head Island have thought about—or at least dreamed about—what it might be like to own a home here instead. It’s not hard to imagine how wonderful it would be to stake a claim to your own piece of the island, and to come and go as often as your schedule and whims allow.
Here are some thoughts to ponder as you indulge the fantasy, and some tips to consider if you want to make it a reality.
Select A Place Like None Other
On a uniqueness score, Bald Head Island is unquestionably a 10 out of 10. It’s a captivating cape island of magnificent beauty and breathtaking eco-diversity. No bridge connects the island to the mainland, so not only are there no stoplights here; there are no cars. Islanders come and go via passenger ferry, and travel by electric cart, bicycle or on foot. To say it’s an uncommonly peaceful, delightfully laidback island resort is an understatement.
So when you’re comparing places where you might want to buy a second home, remember it’s not apples to apples. Bald Head Island is more like an exquisite mango, commonly called the sweetest fruit on earth.
Choose Your Environment
Want to be oceanfront just steps from the sand, or on the dune with awe-inspiring elevated views of the Atlantic? Does the expansive salt marsh and creek preserve call your name, or are you more at home among the remarkable ancient trees of the maritime forest? How about a championship golf course or a handsome harbor right out your backdoor?
Bald Head Island offers homes and homesites in all of these environments; some that check more than one box. Each is spectacular in its own way, so consider what speaks most to you.
Customize Your Vacation, Down to the Outdoor Shower
Renting has its advantages, but there is something about making memories in a home that is filled with your family’s own furniture, linens and photographs. When you buy, you can create the home that suits your family perfectly, and make it your own in every way.
There are many types of homes on the island, from cozy cottages to grand oceanfront homes. There is even a popular co-ownership option to consider. See what’s currently on the market that suits your size, taste, budget and choice of environment.
Allow for Spontaneity
Naturally you’re going to schedule a great deal of time in your island home, but the beauty of owning is flexibility. Find yourself with a free weekend? Your Bald Head Island home is ready and waiting. Feel the need to disconnect and temporarily disappear from your daily routine? Come on down. You can also generously gift time on the island to friends and family when you own a home here.
Many second-home owners keep clothing and toiletries in their island home, greatly reducing the chore of packing for every visit. After all, coming to Bald Head Island is meant to be a relaxing getaway, and having the freedom to leave your things for next time adds to that feeling.
Talk to Your Tax Advisor
There can be tax advantages to owning a second home, so you’ll want to discuss them with a tax professional. Learn about deductions, and how often you can rent it out without paying taxes on that income.
You may also want to discuss the purchase with your financial advisor. Many consider portfolio diversification in real estate a prudent move.
Consider The Intangibles
Can you put a price on family time, and building memories that will last a lifetime? Would having a place of retreat and total relaxation be good for your mental and physical health? Could you imagine your children, and your children’s children, growing up coming to a place that is so environmentally diverse and ecologically important, as well as filled with fun and timeless pleasures? Many long-time owners say it has shaped their children’s lives and sensibilities.
As you ponder the question, remember this: Owning a second home on Bald Head Island may not be for everyone. And that, is a large part of its appeal.
So, the question is: Is it for you?