September 13th 2024.
Despite being warned that the house he wanted to buy in Cape Cod could potentially fall into the ocean, one man remained determined to make it his dream home. David Moot, a 59-year-old from Pittsburgh, had been visiting Cape Cod for 20 years and never thought he would be able to afford a beachfront property there. However, when he stumbled upon a listing for a house priced at just $395,000, he couldn't resist taking a closer look.
There was, of course, a catch. The home, located at 157 Brownell Road in Eastham, was situated only 25 feet from a rapidly eroding sand bluff. The ocean was encroaching at a rate of 3 feet per year, putting the house at risk of being swallowed up by the sea within the next decade. This area of Cape Cod is especially vulnerable to erosion due to rising sea levels and more frequent storms.
But despite the potential dangers, Moot decided to take the plunge and buy the house anyway. "Life's too short," he told Bloomberg in an interview last month. "Let's just see what happens." He acknowledged that the house may eventually succumb to the ocean, but he was willing to take the risk, whether it happened in his lifetime or not.
Eastham, known as the "gateway" to the Cape Cod National Seashore, is facing a precarious future as climate change continues to wreak havoc on the area. With warmer ocean temperatures and more severe storms, the community is at risk of being underwater. "It's just a matter of time before those property values go down," said oceanography professor Dylan McNamara of the University of North Carolina Wilmington.
Despite the potential consequences, Moot managed to purchase the house at a steep discount – 67% lower than the seller's original asking price in 2022. However, as the new homeowner, he still faces significant expenses, including property taxes of nearly $4,000 per year and insurance that does not cover damages from erosion.
To offset these costs, Moot plans to rent out the house to others who can also enjoy the peaceful and awe-inspiring views of the ocean. "There's a chance for others to experience the serenity of this property and the panoramic view of the ocean," he told The Boston Globe. He understands that there are both positives and negatives to his decision, but he's willing to take the gamble and make the most of his new home.
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