The following is provided by Todd Kenthack, Broker/REALTOR with The Cox Connection in Pinehurst, NC. You may reach Todd at (910) 603-9050 or by emailing him at Todd@golfhomesinpinehurst.com.
Pinehurst and the surrounding Moore County area is not only one of the Word's most well regarded golf havens, with over 45 top quality golf courses, but a wonderful place to live! The Moore County area, also know as "the Sandhills" offers residents a moderate climate, top-rated healthcare and plenty of choices when it comes to recreational activities, shopping and restaurants.
In working with prospective buyers, I mainly come across two types: 1) those seeking an investment in the form of a golf getaway spot for several trips a year, and 2) those looking to relocate permanently to the area. Below you'll find some helpful information about the Pinehurst Real Estate market from both of these perspectives.
Preliminary Questions for Pinehurst Home Buyers
When considering the Pinehurst area for a second home, investment property or permanent residence, you may want to ask yourself several questions before beginning your formal search.
1) What is your price range? Be realistic here.....what can you truly afford? Whether you're looking to invest in Pinehurst Real Estate for your permanent home or an investment, I encourage buyers to be open to spending a little more than their original price range. Sometimes by spending $10 or $20 thousand more, you get yourself a newer, larger property that is better positioned for future appreciation. Remember, even if this is your permanent home, you need to view it as a very important investment. Who knows what the future brings. Most importantly, get pre-approved by any lender prior to touring homes. This does not obligate you to do business with that lender, but gives you a better idea of the financial implications of your purchase and helps you establish a price range.
2) How important to you is the age of the home or condo? I find that many early term Pinehurst home or condo searchers state they are indifferent regarding age, but more often than not they end up refining their search to newer construction, say 1995 and newer. The fact is most people prefer larger, more spacious floor plans. And the majority of buyers are not particularly interested in spending time and money renovating older homes.
3) Do you want a club membership? If you want one, how much are you willing to spend upfront (in the form of a transfer fee) and ongoing every month? Also, must you have a Pinehurst CC membership, or are you open to considering other clubs like CCNC, Mid South, Talamore, Pinewild, Longleaf, Beacon Ridge, Whispering Pines and Foxfire. Anyway, always research club membership costs.
4) Do you want to maintain your own property? If not, you have plenty of options to choose from outside of the traditional condo or townhome. The Pinehurst Home Market includes a growing number of patio homes, cluster homes, golf villas and lodges that include all exterior maintenance and upkeep.
5) If you want a single family home, what size lot would you prefer? As a rule of thumb (excluding homes above $500,000 or so) you will find lot sizes within Pinehurst to be half or a quarter of the size of average lot sizes in surrounding communities such as Seven Lakes, West End, Foxfire, Whispering Pines, Aberdeen and Southern Pines.
6) How far away from the heart of Pinehurst and Southern Pines do you want to reside? Though Pinehurst is not known for its shopping malls, the heart of local shopping is in Pinehurst and, even more so, Southern Pines and Aberdeen, near the intersection of Route 1 and 15/501. If you're contemplating Seven Lakes, West End or Foxfire, you're looking at a twenty to thirty minute drive just to get to the Pinehurst traffic circle.
7) Do you wanted to reside in a gated golf community? It's all a matter of preference, but some buyers are adamant about living in a gated community. If so, you have plenty to choose from including Seven Lakes West (which includes Beacon Ridge), Seven Lakes North and South, Pinewild, National, Mid South Club, CCNC and Fairwoods on 7. You can check out Pinehurst Area golf communities on my website.
8) If it's a second home, are you looking to rent it out? If you are looking to rent out your property (I'm especially speaking of short-term rental programs and owners of Pinehurst Condos) you are probably not going to "net" a significant amount each month. As a rule of thumb, I tell buyers to expect to cover your property taxes and association dues, but do not count on much more than that. Short-term rental programs are great because they handle everything, but there are a couple negatives. First, you will see some wear and tear that you may find frustrating. Second, last minute trips may be difficult to plan if your unit is slated to be rented.
I hope you find this information to be helpful as you consider the purchase of real estate in Pinehurst. Once you are ready to start touring homes, you'll need a professional, reliable REALTOR to assist you from the very early stages of research to (and beyond) your closing. That's where I come in! When you are ready, please contact me at (910) 603-9050 or by email at Todd@golfhomesinpinehurst.com. To learn more about Pinehurst Real Estate and Search for Homes in Pinehurst, go to my website at http://www.golfhomesinpinehurst.com/. Thank you!
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