Thinking of Buying a Second Home in Carmel-by-the-Sea

If you’re considering a vacation home along the Monterey Peninsula, and you like being within walking distance to great restaurants, tasting rooms, shopping, coffee shops, and the beach, of course, buying a second home in Carmel-by-the-Sea may be the right fit for you.

Buying a Second Home in Carmel-by-the-Sea | An Investment

Buying a vacation home in an area with strong resale value may be important to you. If so, Carmel-by-the-Sea has key characteristics that you should consider.

  1. The Carmel School District, currently rated 10/10 on GreatSchools.org. A school district in high demand generates the attention of young families looking to put their kids through a great education. Carmel has one of the best public school districts in the state.
  2. The location and environment – There is a vast buyer demand for living along the Monterey Peninsula where many people vacation. Buyers from all over the world come to Carmel-by-the-Sea, visit a few open houses on a whim, and decide they want to make it a lifestyle.
  3. Luxury market – Carmel is a second home market. Buying in an affluent community where many people are looking to retire should give you confidence when considering the investment potential.

buying a second home in carmel-by-the-sea

Where to Buy in Carmel-by-the-Sea | Location, Location, Location!

Cities along the Monterey Peninsula have their own microclimates, micro-markets with nuances effecting values, and details specific to individual neighborhoods that buyers should be aware of. Review the market offerings and past sales with your agent. Ask questions about why house “X” sold 150k over house “Y” one street closer to Ocean. Or how about house “Z” three doors down. Was the unobstructed ocean view really worth the extra $400,000?

The Golden Rectangle is a popular location from Santa Lucia to Ocean, Scenic to Dolores and everything in between, but what about the foot traffic? You might prefer being North of Ocean where it’s a little more private. Carmel Point is gorgeous, and you usually get a larger lot size. Are you comfortable with the possibility of a flood? Will you pay flood insurance? Do you mind being close to the elementary school? Carmel Woods has some great streets, the potential for big ocean views, and a quiet neighborhood. Some parts of Camino Del Monte are incredibly serene, others feel like Junipero. The important thing is to drive around different neighborhoods, ask questions, and get a feel for what Carmel-by-the-Sea has to offer, and what is most important to you.

Buying a second home in Carmel-by-the-Sea | Fixer, Turn-Key, or Build?

$500/square foot cost to build is not unheard of in Carmel. For the high-end materials, many of the supplies travel long distances before they reach the peninsula, and labor adds up quickly. Carmel Stone is beautiful and very expensive. When considering whether to build, fix, or buy something move-in-ready, consider how much time you have to allocate to your project. Interview local architects and builders – we have a few great recommendations who we work with regularly. We don’t have a lot of new construction in Carmel, but we do have old houses that are classified as Historic. Many of these homes cannot be torn down but can be remodeled. If you’re considering remodeling a historic home, it is best to work with an architect who is familiar with working on these kinds of projects, and an agent who is familiar with the Historic Review board, and kinds of things they look for in order to approve a project. If you would prefer a turn key home, there are some very nice ones currently listed. Let’s go show you some perfect homes!