Martha’s Vineyard is a very unique and wonderful place to live or own vacation property. However there are a few caveats to buying on the island that you should be aware of before making a move to purchase.
- Septic Systems Many of the homes in Martha’s Vineyard have a septic system for waste management. It is important to know that the size of this system directly correlates to the number of bedrooms allowed in a location, not to the number of bathrooms. Thus, while looking at properties keep in mind that the ability to add bedrooms onto the home or alter existing living space into additional bedrooms is dependent on the capacity of the septic system.
- When buying a home on Martha’s Vineyard, all purchases are subject to a 2% tax from the Martha’s Vineyard Land Bank Commission, which uses this money to help conserve and protect the island’s natural landscaping.
- In the town of Oak Bluffs, the attractive gingerbread cottages in the Campgrounds are wonderful summer cottages, however, if you’re looking to buy here you should be aware of the additional 2% tax on the purchase from the Camp Meeting Association. This tax goes on top of the 2% already being taken for the Land Bank.