| Come for a day, a night, or for a life time... | | | | What is a boat slip? |
| Nestled within the inner banks and declared the | | | | Boat slips are individual slips that can be sold and |
| "Sailing Capital of North Carolina", Oriental North | | | | transferred by deed to individual boat owners and |
| Carolina sits along the beautiful Neuse River, | | | | investors. Sometimes, included in the purchase price |
| intertwined with several smaller creeks. | | | | of the slip, is the ownership (in common with the |
| Oriental rests along the Neuse River which is one of | | | | other slip owners) of the marina common areas. |
| the widest rivers in the country being 5 miles wide | | | | These might include things such as a service center, |
| that offers great boating, sailing, cruising, and some | | | | marina store, fuel dock, office/retail space, etc., the |
| of the best fishing the world has to offer! Whether | | | | marina parking, recreational amenities, club house, |
| you enjoy off-shore fishing, brackish water fishing or | | | | restaurant, gym, swimming pool, etc. |
| fresh water fishing you can find it all here in eastern | | | | What type of amenities with slip are available |
| North Carolina. | | | | ownership? |
| Off the water, Oriental offers a range of activities | | | | Many facilities offer a club like atmosphere. They may |
| including art galleries, restaurants, specialty shops, | | | | include swimming pools, tennis courts, gyms, showers |
| concerts, plays, historical walking tours, bicycle club, | | | | and rest rooms, laundry facilities, picnic areas, |
| yoga classes, massage therapy, beauty salons as well | | | | assigned and guest parking, a restaurant, lounge, |
| as simply sitting in one of our many parks and | | | | ship's stores, car and/or bicycle rentals, complete fuel |
| enjoying the charm of small-town riverside living. | | | | dock(s) (both gas and diesel), pump-out stations at |
| With fewer than 1200 residents, boats outnumber | | | | each slip, as well as complete maintenance programs, |
| the residents 3 to 1. Sailboats, powerboats, fishing | | | | staffs, facilities and services for your yacht. |
| boats, kayaks, canoes - you name it, it's here. | | | | Are there property taxes? |
| Oriental is an ideal place for cruisers to stop while | | | | Yes. Taxes must be paid like any other real estate |
| traveling the Intracoastal Waterway. | | | | that you might own. |
| With easy access to the Pamlico Sound, the Outer | | | | Is financing available for my boat slip purchase? |
| Banks, the Intracoastal Waterway which will take | | | | Yes. With the same tax deductions that a |
| you to Beaufort, Shackelford Banks where the wild | | | | conventional mortgage offers. We have local financial |
| horses have been roaming the island there for | | | | institutions in place that can help you with financing. |
| centuries, Cape Lookout, many of the famous | | | | There are many advantages to owning a slip versus |
| lighthouses along the way with centuries of historic | | | | renting. |
| sites and many other adventures that the area | | | | These benefits include the following: |
| offers. With many creeks to explore with great | | | | 1: More control of your boating water access, lifestyle |
| gunkholes to anchor for the night, weekend or | | | | and destiny. |
| longer. | | | | 2: Building equity of owning as opposed to leasing. |
| With all of the boating activity and adventure that | | | | 3: If the purchase is financed by a qualifying home |
| eastern North Carolina offers there are many | | | | equity loan or if the boat and slip can qualify as a |
| questions that many people have that want to enjoy | | | | second home, the interest is generally tax deductible. |
| these adventures regarding deeded boat slips and | | | | Additionally, the real estate taxes paid in connection |
| let's face it; if you own a boat, your vessel needs a | | | | with the slip are also tax deductible. Always consult |
| home. | | | | with your tax advisor. |
| Here are a few of the many questions that our firm | | | | 4: If structured properly, the after-tax cost to many |
| gets regarding some the questions to purchasing and | | | | boat owners will be less than the rental rate they |
| the ownership of a deeded boat slip that I would like | | | | would be paying for the same period. After the loan |
| to share with you. | | | | is paid off, the ongoing cost of owning the slip is a |
| The Advantages Of Owning A Boat Slip | | | | small fraction of rental. |
| Purchasing a boat slip, wet or dry, has many | | | | 5: Ownership of a slip protects a boat owner from |
| advantages. The advantages of owning have long | | | | the consistent increases in rental rates. The slip |
| been understood in the traditional real estate market. | | | | becomes an asset instead of a cash drain. |
| With a growing population of boat owners and | | | | 6: The boat slip can be sold or transferred, at any |
| increased demand on the part of boat owners for | | | | time, or passed by inheritance. |
| slips, rental prices are rising and waiting lists for rental | | | | 7: If an owner is not using his slip, the slip may be |
| slips are growing increasingly longer. Now, savvy boat | | | | rented for income. |
| owners are enjoying the advantages of owning boat | | | | 8: Increasing governmental regulation limiting the |
| slips. Boat slip owners have not only secured a home | | | | number of marinas which can be built, coupled with |
| for their boats, they have the possibility of the | | | | the consistent demand for boat slips, create the |
| increased value of their slips. | | | | potential for an appreciation in your slip's value. |