With real estate prices increasing dramatically in coastal communities like Port Aransas, is it too late to find a beach house for your family?
Owning a vacation home on the Texas coast has become a popular option for many city dwellers. As a kid, I always enjoyed hopping in the car and taking road trips down to Port A, whether it was for a week or just a day trip there and back to Austin. And now, with COVID, being able to hop in the car and be on the coast in just a few hours is more appealing than ever. More and more people are working from home, and the numbers of vacation homes are just going to increase in demand. I mean who wouldn’t want to work while sipping on a piña colada and dipping your toes in the sand? Life really can’t get any better than that. Plus, Port Aransas represents Texas on Tripadvisor’s 2022 List of Top 25 Beaches in the U.S – the only coastal city in the state to receive the honor.
As a result, real estate pricing in popular Texas beach towns like Galveston and Rockport are at historic levels. 2021 housing market data from Texas Realtors shows that South Padre Island led the way with a 28.9% increase in median pricing, while Port Aransas was up 18.4%.
Keith McMullin, Broker with Port Aransas Realty, tells us of four ways that buyers are finding solutions in the current market.
1. Joint Ownership
First off, there’s really nothing new when it comes to family members and friends splitting ownership in Port Aransas real estate. This has been going on for generations of family members. I personally have family members who bought a beach house in Aransas Pass some years back. It remains a popular option with families, as it’s a great way to share in expenses and still provide plenty of time for personal enjoyment, like sipping that piña colada on the beach.
2. Vacation Rental Income
The ever-growing popularity of services like Airbnb and Vrbo has provided owners with a very healthy income stream. Because of this, many Texas families are able to shop for luxury homes in beachfront communities, such as Cinnamon Shore and Palmilla Beach. For many homeowners in Port Aransas, rental income is what helps offset some of the major annual expenses.
3. Affordable Condos
Beautiful beachfront condos have always been popular. I mean, it’s hard not to love the simplistic sound of the waves crashing on the shore every second. The ability to open your patio door and enjoy the Gulf of Mexico is what keeps owners and rental guests coming back for much needed beach therapy. Yes, condo pricing has increased in recent years, but it’s not as costly as single-family homes, as this makes it a preferable option for some buyers. “The 2021 median price for single-family homes was $696,000, while condos and townhomes were at $410,500,” says McMullin.
4. Consider North Padre Island
Some buyers are opting to purchase waterfront homes and condos on North Padre Island, which is just 18 miles down the island road from Port A. North Padre Island has primarily been a suburb of Corpus Christi, but caters to a loyal touristy crowd. “The location offers great beaches, restaurants, and easy access to the conveniences of the ‘big city’ or the solitude of Padre Island National Seashore,” says McMullin. “2021 residential median pricing on North Padre was $355,000, while Port Aransas increased to $525,000.”
As you can see, buying a beach house can be an excellent return on investment, bring in a reliable source of income, and give you access to an enjoyable vacation spot that will make memories to last a lifetime for your family and more to come. So, is it too late for you to find your island escape?
Cover photo courtesy Port Aransas Realty
This article is a sponsored collaboration with Port Aransas Realty