Narragansett is a beautiful coastal town located in Rhode Island. The area has a rich history, culminating in its existence as a seaside resort today. Buyers searching the market can expect plenty of single-family detached homes, as they make up most of the available housing. Properties have enjoyed an appreciation rate of 81.47% over the past decade, which is good news when investing in a home. Before getting into how to buy homes for sale in Narragansett, here’s an overview of the town itself.
Overview of Narragansett
Narragansett had humble beginnings as a small farming and fishing community. The shift into the town today began in 1849 when a man named Joseph Dulles visited the area. He was so taken aback by its beauty that he opened a hotel called The Narragansett House in 1856. Thus began the tourist interest in the area that makes it popular.
Alongside being an attractive place for tourists, the University of Rhode Island Bay Campus creates a sizable student population in the area. People are increasingly drawn to the town’s perks, reflective of its population growth over the years. The natural beauty has a large pull, as there are three state beaches in the area. The town is also conveniently located near the cities Providence, Newport, Boston, and New York City.
Narragansett hasn’t forgotten its fisherman roots; fishing remains a vital industry in the town. In addition to this, residents can enjoy historical architecture in its four historic districts, and monumental buildings like The Towers. Here’s a deeper dive into some of the things that makes Narragansett a great place to live.
Alongside being an attractive place for tourists, the University of Rhode Island Bay Campus creates a sizable student population in the area. People are increasingly drawn to the town’s perks, reflective of its population growth over the years. The natural beauty has a large pull, as there are three state beaches in the area. The town is also conveniently located near the cities Providence, Newport, Boston, and New York City.
Narragansett hasn’t forgotten its fisherman roots; fishing remains a vital industry in the town. In addition to this, residents can enjoy historical architecture in its four historic districts, and monumental buildings like The Towers. Here’s a deeper dive into some of the things that makes Narragansett a great place to live.
The beaches
Narragansett has three state beaches, which provide residents and tourists prime locations to enjoy the Atlantic Ocean. The Scarborough State Beach is one of the most popular oceanside spots, and it provides 2,325 feet of beach frontage for visitors. Also notable are Roger Wheeler State Beach and the Salty Brine State Beach. Although smaller than Scarborough, the Narragansett Town Beach is a prime location to enjoy the New England coast, as it’s situated in the center of town and offers 19 acres of beach.
Port of Galilee
The Port of Galilee is where the fishing industry thrives in this town. As an authentic working New England fishing village, this port also offers visitors high-quality seafood selections, restaurants featuring the local fare, and several shops. This port is near two state beaches, and provides opportunities to charter a fishing vessel or take sightseeing tours. Residents can also hop on the ferry to visit Block Island and New Shoreham.
Tips for buying a home
It’s important to be sure about location when searching for a home, and the overview of Narragansett provides a good summary of all the town has to offer its residents. Follow this home buying guide for tips on how to approach the rest of the buying process.
Get the timing right
The first thing to consider when buying a home is the timing. Think about if now is the right time for you to buy personally, and understand why you’re buying in the first place. Are you moving because you need more space for a growing family, you want to shorten your commute, or you’re looking to upgrade? Also consider constraints to buying, such as your financial situation, career obligations, your child’s school schedule, or responsibilities to family and friends.
When you’ve considered if now is a good time to buy for you personally, research factors like seasonality and the local market. Most buyers search for properties in the spring and summer months, as these times align best with a child’s school schedule. Buying in warmer months also helps with the showing and moving process, which can be difficult in harsh winter weather. Home prices in Narragansett have decreased in the past month; however, the median days on the market for homes have also declined. Buyers should keep this in mind when starting their search for homes.
When you’ve considered if now is a good time to buy for you personally, research factors like seasonality and the local market. Most buyers search for properties in the spring and summer months, as these times align best with a child’s school schedule. Buying in warmer months also helps with the showing and moving process, which can be difficult in harsh winter weather. Home prices in Narragansett have decreased in the past month; however, the median days on the market for homes have also declined. Buyers should keep this in mind when starting their search for homes.
Work with a real estate agent
After choosing the right time to buy, partner with a local and experienced real estate agent, like the professionals at The Local Group. An agent will know what types of homes are available in the area and can show you properties that best meet your needs and goals. They’ll also have several professional connections to services you may need, like a mortgage lender, home appraiser, and home inspector.
When it comes time to make an offer on a home, an agent can research a competitive offering price. They’ll also handle negotiations with the seller to ensure you get the best deal for your home. After a seller accepts your offer, they’ll guide you through closing steps like a home inspection and walkthrough, and can explain complicated paperwork before you sign it.
When it comes time to make an offer on a home, an agent can research a competitive offering price. They’ll also handle negotiations with the seller to ensure you get the best deal for your home. After a seller accepts your offer, they’ll guide you through closing steps like a home inspection and walkthrough, and can explain complicated paperwork before you sign it.
When making an offer
When you find the home that meets all your needs, work with your agent to make an offer that includes your offer price, preapproval letter if you’re financing with a mortgage, proof of funds, and any contingencies. From there, a seller may accept, reject, or counteroffer. An agent can help you decide whether to accept, reject, or counteroffer again.
This process continues until either side rejects or comes to an agreement. After agreeing, complete a home inspection, which may result in more negotiations related to repairs or a reduced price. If the repairs needed are too extensive, you can also back out of the deal. Then, secure your financing and complete a final walkthrough to close on your new home.
This process continues until either side rejects or comes to an agreement. After agreeing, complete a home inspection, which may result in more negotiations related to repairs or a reduced price. If the repairs needed are too extensive, you can also back out of the deal. Then, secure your financing and complete a final walkthrough to close on your new home.
Ready to search for Narragansett real estate?
There’s plenty that draws people to Narragansett, like its beaches and fishing community. When you’ve decided to buy in this area, follow this home buying guide for a smooth process. If you need help finding your dream home, contact local agent Patrick Farrell to guide you through the process.
