Part 2 of our three-part guide to buying a home in Rehoboth Beach and the surrounding coastal communities.
In Part 1, we talked about some of the things worth thinking about before you start looking at homes – what's important to you, where you'd like to live and what works for your budget.
Now comes the fun part. It's time to start looking.
Around Rehoboth Beach and the surrounding communities, you'll find everything from established homes and condos to townhomes and brand-new communities. Once you start seeing what's available, you can get a much better feel for what suits you and begin narrowing down the choices.
New Construction or an Existing Home?
This is a question I get asked quite a lot, and there really isn't one answer that's right for everyone.
A new construction home can be a great option if you like the idea of everything being new, lower maintenance in the early years and today's energy-efficient features. Depending on where the home is in the building process, you may also have some choices when it comes to finishes and other details.
An existing home has its own advantages. You may prefer an established neighborhood, mature landscaping or a particular location where there simply isn't much new construction available.
I've helped buyers with both, and it really comes back to what's most important to you.
If you're considering new construction, it's also worth having your own REALTOR® involved from the beginning. The builder's sales representative works for the builder, so having someone on your side gives you your own point of contact throughout the purchase.
Single-Family Homes, Townhome or Condo?
You may already know exactly what type of property you want. If you don't, it's worth looking at a few different options.
A single-family home may give you more space, privacy and outdoor area, but it can also mean more maintenance.
A townhome can be a good middle ground for buyers who want the feel and space of a home without quite as much exterior upkeep.
Condos are another popular option around the beach, particularly for buyers who want a second home or prefer to spend less time taking care of the property.
There are trade-offs with each, so I wouldn't rule anything out until you've had a chance to see what works for you.
What About HOA Communities?
There are many planned communities around Rehoboth Beach, Lewes and throughout coastal Delaware, so there's a good chance you'll come across HOA fees during your search.
What you get for those fees can vary quite a bit.
Depending on the community, amenities and services may include pools, clubhouses, fitness centers, walking trails, tennis or pickleball courts, lawn care and maintenance of common areas.
It's worth looking at exactly what the fees cover and thinking about whether you'll actually use what's included.
For some buyers, the amenities and reduced maintenance are a big plus. Others would rather not pay for things they don't expect to use.
Flood Zones - Something Worth Checking
When you're buying near the Delaware coast, flood zones are naturally something that may come up.
Being in a Special Flood Hazard Area doesn't automatically mean a home isn't right for you. It does mean you'll want to understand the property's flood zone, what that means for the home you're considering, and whether flood insurance may be required.
It's something we'll check when looking at individual properties, particularly if you're considering a home close to the ocean, bays or other waterways.
It's really about knowing the facts about the property before you make a decision.
What to Look for During a Showing
Once you start scheduling showings, it's very easy to get caught up in how a home looks.
Of course, you want to like it. But it's also worth looking beyond the furniture and finishes.
Think about the things that would be difficult or expensive to change. Does the layout work for you? Is there enough storage? What condition are the major systems in? Does the outdoor space suit the way you'll use the home?
And don't forget the location.
You can also take a look at the communities I cover to get a better feel for the different areas before you start scheduling showings
Why a Home Inspection Matters
Once your offer has been accepted, you'll usually have the opportunity to arrange a professional home inspection, depending on the terms of your purchase agreement.
The inspection can tell you much more about the condition of a property than you'll see during a showing.
The inspector will look at the home's major systems and components and identify issues that may need attention. That doesn't mean every item on an inspection report is a major problem. Homes need maintenance, and even a well-kept property can have things that need fixing.
What matters is knowing what you're dealing with before you move further into the purchase.
Making an Offer
Finding a home you want to buy is exciting. Then comes the question everyone asks:
What should I offer?
There isn't a standard answer.
We'll look at the asking price, comparable sales, how long the property has been on the market and what else is happening locally. We'll also talk about the terms of your offer and anything that's particularly important to you.
Price matters, of course, but it's not the only part of an offer.
My job is to give you the information you need, talk through your options and help you put together an offer you're comfortable with. The decision is always yours.
Ready for Part 3?
Once you've found the right home and your offer has been accepted, the next stage begins.
In Part 3, we'll look at what happens between an accepted offer and getting the keys, including financing, the appraisal, title work, closing costs, the final walkthrough and what to expect on closing day.
If you're ready to start looking at homes in Rehoboth Beach or the surrounding coastal communities, I'd be happy to help. Whether you're considering an existing home, new construction, a townhome or a condo, we can look at the options together and see what works best for you.
For more information contact Joe Maggio on 302-381-2268