DH & I would love to purchase a home by the sea in the US

[Phoenix]

We'd love to get a nice 3-5 bedroom house or condo, by the sea (preferably one actually overlooking the ocean as supposed to being near it). Not too expensive (somewhere btw US$1/4 to 1/2 million). We'd love to be in a warmer/ not so cold climate and it MUST be in a safe(r) place, ie. low crime rate and preferably close to amenities (shops, supermarkets etc). If the area has cultural activities and/ or a nightlife, that'd be even better.

We'd love to be able to rent it out until we're ready to occupy it in our twilight years, ie. about 15 years from now. However, this is not absolutely necessary as long as we know that it wouldn't be occupied by squatters and/ or vandalised. If it is not rented out, we could go over and stay there at least once a year when we go to visit DH's parents. Potentially, DH's family members may be occupying it too.

I don't know if the price range above is realistic. We can't really spend more than the upper limit but would be willing to scale back our expectations. We thought it'd be a good idea to purchase something now when the real estate market is still under water. All input and comments are welcome!

 

[movie zombie]

Re: DH & I would love to purchase a home by the sea in the U

imo, unrealistic budget for all that you are asking. add one million to your figure and you could possibly do it in some areas.......

if it were possible here in california, i'd have already done it! coastal property even within walking distance much less with a view is pricey.

if you find it, please let me know where....if its in california, that is.

good luck, though. sometimes if one is not in a hurry, things do happen......right place and right time.

and a condo is another story. if you go that route you have other issues. some CC&R's for condos do not allow renting out your condo. and that's only one issue: increasing HOA dues as well as special assessments for repairs because not enough $ accumulated in the roof account come to mind.

even with real estate at a "low", coastal property has held its value.

again, good luck!

 

[fleur-de-lis]

Re: DH & I would love to purchase a home by the sea in the U

+1 MZ on it not being possible for California, but there may be other parts of the country where it would be possible-- parts of Florida, perhaps in the Gulf States.

 

[NakedFinger]

Re: DH & I would love to purchase a home by the sea in the U

Unfortunately, ditto above if looking at anywhere in the tri-state area as well. Anywhere in New Jersey, New York, Connecticut, etc. would be much higher. Put it this way, my uncle bought a shack (literally) on the ocean in NJ for $900,000, and then needed to completely demolished it, and build a home. Unfortunately, all houses on the water have premium prices when on the water. Obviously, this area does get snow, so it wouldnt be all year round, but could be a very nice summer home.

What about florida? I think they may be some areas where it may be a LITTLE less expensive. You wont find $250,000, but maybe something around $500,000? (someone who lives in FL here may be able to confirm that for me)

 

[PinkTower]

Re: DH & I would love to purchase a home by the sea in the U

Would it be better for you to be on the East or West Coast? Our 2nd home is on the East Coast, and your budget is not realistic for where we are (in Georgia.) I do think you will be well within budget for a condo, however, and there are great advantages to that on the East Coast if you cannot be close enough to maintain your property. We have to prepare for hurricanes, and condo associations will have provisions for them that they implement.

 

[MissStepcut]

Re: DH & I would love to purchase a home by the sea in the U

If it weren't for the warm weather requirement, I would recommend the Pacific Northwest. But, the weather is rarely warm on the Oregon and Washington coasts.

 

[JewelFreak]

Re: DH & I would love to purchase a home by the sea in the U

You might be able to find something in the top end of your range in the North/South Carolina area but it would probably have to be a condo.

 

[kenny]

Re: DH & I would love to purchase a home by the sea in the U

Long Beach, California is one of the most affordable Southern California beach cities.
Not many people know about it, or if they do they think of it as one big less-desirable area.

The truth is it is a huge city with many different kind of neighborhoods and a very diverse population.
In the same city you can buy a 20-million dollar mansion in a lilly-white neighborhood with a slip for your 100 foot private yacht, or on the other side of this huge city you can live in crime-infested projects with the welfare crackheads.
Long beach has everything in between, and it is actually the lesser-desireable parts that make the more-desireable parts a bargain by the beach.
The climate is positively mederterainian.
Since it is a sound-facing beach it stays a few degrees warmer than the west facing ones like Santa Monica, Venice, Manthattan Beach, Hermosa Beach and Torrance beach which can remain foggy and cold while Long Beach is warm and sunny.

I have not shopped in years but I suspect there are plenty of condos with ocean views in your price range.
It also has a nice mix of new and older buildings, with some of the older ones obviously being more affordable and IMHO more charming and homey.
Some are on the historic register and are art-deco treasures from the roaring 20s like the Villa Rivera.
Condos in it today are surprisingly affordable.

 

[swingirl]

Re: DH & I would love to purchase a home by the sea in the U

I would suggest looking in South Carolina. There seems to be a lot of islands with coastal property. Your budget is low. Finding something with 3-5 bedrooms for $250k to $500k is not realistic in California. If you find it let me know!!

 

[MissStepcut]

Re: DH & I would love to purchase a home by the sea in the U

Are the number of bedrooms non-negotiable? I rarely see condos with more than 3 bedrooms, and then they're usually the penthouse condos with a big premium in costs. If you looked at 2 BRs i think you'd have a much easier time.

 

[Amys Bling]

Re: DH & I would love to purchase a home by the sea in the U

hmmm, mostly likely looking at Florida-North Carolina area with that budget and wishlist.

 

[missy]

Re: DH & I would love to purchase a home by the sea in the U

Unfortunately, ditto above if looking at anywhere in the tri-state area as well. Anywhere in New Jersey, New York, Connecticut, etc. would be much higher. Put it this way, my uncle bought a shack (literally) on the ocean in NJ for $900,000, and then needed to completely demolished it, and build a home. Unfortunately, all houses on the water have premium prices when on the water. Obviously, this area does get snow, so it wouldnt be all year round, but could be a very nice summer home.

What about florida? I think they may be some areas where it may be a LITTLE less expensive. You wont find $250,000, but maybe something around $500,000? (someone who lives in FL here may be able to confirm that for me)

Unfortunately this is true. Everything is so expensive! I never thought we would be able to purchase my dream home on the sea because prices seemed so out of reach but we got lucky as we bought in a little known area and though it was more than we wanted to spend (funny how prices for the really desirable homes and locations don't go down very much even in a recession) we sold our other beach house so we could do it. However we are in the northeast and the weather does get cold! Though I do love the change of seasons. Our plan is to retire there as well and sell our NYC home when we are ready to do so.

I do think if you are willing to look at condos you just might get lucky and Florida real estate is at a low right now. Our real estate agent just sold her condo in Fla and bought another on the water there.
I doubt you would be able to even purchase a condo on the water in California though. Real estate on the water still goes at premium prices.

ETA: But it is critical to make sure you want to live in whatever area you are looking and not buy solely on price or location by the sea...For example, I know that I needed to be in an area that is full of life and culture and near my family as well as wanting to be on the water. So there are criteria just as important (or more important) than price. Especially if you plan on living there much of the time. Good luck in your search!

 

[LJL]

Re: DH & I would love to purchase a home by the sea in the U

I think you could do it (in Florida) if you forget about the direct ocean view. My parents just bought a 3BR house on a large canal north of Tampa for around 300K with about 50K-75K in renovations. I know that the closer to the open ocean you get, the more expensive it gets - exponentially. The houses in her neighborhood that are on the gulf are $2-5M (and probably more than 5BR). At the same time, you could buy a crummy home in that neighborhood for around 200K I think - and many are for sale.

I think the ocean view at that price is your biggest obstacle

 

[MissStepcut]

Re: DH & I would love to purchase a home by the sea in the U

Don't forget that if you get a condo you could very well be paying some hefty monthly HOA/Association fees.

 

[tuffyluvr]

Re: DH & I would love to purchase a home by the sea in the U

A friend of mine bought a 2br condo on the water in Redondo Beach (Los Angeles county) for about $650k about 3 years ago. Prices have gone down a little bit--maybe 25-50k? You could rent out such a place for about $2400, plus you would have to consider HOA costs of about $600/mo, so you would have about $1800 to put towards the mortgage/taxes.

We live in the southern part of LA County, about 10 blocks from the water. My guy owns the duplex we live in--it's 2-2br units and the purchase cost was just under $400k. He collects $1600 in rent, so it costs about $1000/mo to live here.

You can buy cheaper on the central coast of CA--San Luis Obispo, Morrow Bay, Ventura, etc, but a 3-5br house on the water would still be in the $1M range, and vacancy rates are higher and rents are lower on the central coast.

So that's what you're looking at in CA. Also, in CA--especially the LA area most homes are only 3br, on average. A 4-5br house is comparatively large amd quite luxurious, and, thus, expensive! You don't get a whole lot for your money here.

 

[Haven]

Re: DH & I would love to purchase a home by the sea in the U

Don't forget that if you get a condo you could very well be paying some hefty monthly HOA/Association fees.

And special assessments! DH has poured over 20K EXTRA into his condo in the city over the years. The last special assessment was for 18K over three years.

 

[tuffyluvr]

Re: DH & I would love to purchase a home by the sea in the U

Long Beach, California is one of the most affordable Southern California beach cities.
Not many people know about it, or if they do they think of it as one big less-desirable area.

The truth is it is a huge city with many different kind of neighborhoods and a very diverse population.
In the same city you can buy a 20-million dollar mansion in a lilly-white neighborhood with a slip for your 100 foot private yacht, or on the other side of this huge city you can live in crime-infested projects with the welfare crackheads.
Long beach has everything in between, and it is actually the lesser-desireable parts that make the more-desireable parts a bargain by the beach.
The climate is positively mederterainian.
Since it is a sound-facing beach it stays a few degrees warmer than the west facing ones like Santa Monica, Venice, Manthattan Beach, Hermosa Beach and Torrance beach which can remain foggy and cold while Long Beach is warm and sunny.

I have not shopped in years but I suspect there are plenty of condos with ocean views in your price range.
It also has a nice mix of new and older buildings, with some of the older ones obviously being more affordable and IMHO more charming and homey.
Some are on the historic register and are art-deco treasures from the roaring 20s like the Villa Rivera.
Condos in it today are surprisingly affordable.

Kenny--do you live in LB? If you do, we're practically neighbors--I live in San Pedro! I love LB. Belmont Shores and Bixby Knolls are sooooo cute!!

 

[kenny]

Re: DH & I would love to purchase a home by the sea in the U

I just know people in LB, but I'm in So. Cal and don't like to give my exact location on the Internet.

 

[Tuckins1]

Re: DH & I would love to purchase a home by the sea in the U

My parents have a vacation home on the Oregon coast and it is FABULOUS!!! The view is breathtaking, there are beaches and tide pools and whales and seals.... There are may nice cities and towns close by. Good shopping, great hiking, safe area... It is like a dream out there! It's in Depoe Bay Oregon, if you're interested.

 

[iLander]

Re: DH & I would love to purchase a home by the sea in the U

This is completely possible in SW Florida. There is no reason that you can't find a lovely condo in an area like Sanibel, Captiva or Naples for about $500K for a 2 bedroom condo with beach view. If you really want a 3 bed, then you need to be about $650K. If you can take a full river view, without a beach, nearby Ft Myers has 3-4 bed condos with views for under $400K. This is the west coast of Florida, so you can see the sunset, and the islands especially are safe (Sanibel, Captiva).

Some houses inland from the beach on Sanibel are as low as $300K, but if you own property on the island, you get a resident parking sticker and can park at any of the beaches. Some of the beaches have ONLY resident parking, so you don't mingle with the public and they're virtually deserted. Sanibel is 70% preserve, nothing over 4 stories tall, no more than 6,000 total dwellings will ever be built, even though the island is the size of Manhattan. They are close to build out now, so very few lots left. No fast food, no chain stores, development is closely controlled to keep it looking very much like 1953.

There are cute boutiques, fabulous restaurants, and if you want malls, McDonalds, and Costco, you just drive across the 3 mile bridge to the mainland. There is a small, but well-equipped, K-8 public school on the island, which is number one in the state scholastically. There is a fabulous state-of-the-art library which has the highest circulation per capita in Florida, and they SPEND bucks on books, videos, etc. They have famous author lectures all the time, this year includes Paul Theroux and they have iPad books and show free movies every week. There is an arts center with classes in painting, welding, pottery, drawing, writing workshops, concerts, foreign movies, etc., a town band, a town chorus, a music festival, 3 annual art fests, a weekly farmer's market, three weekly newspapers to keep up with all the events, a community center with Big Band concerts, dancing, and a playhouse with really good plays. There are several churches, a lighthouse, and two grocery stores.

The last time the island got freezing temps was in the 1930's, and they still talk about it. Summer is HOT though (95), and humid, but the winter is usually 70 degrees and sunny with nights from 40-60 degrees.

It was hit hard during the real estate crash, with many people selling their second houses. Last year the prices we really low, but it's starting to tick up now. There are some VERY rich people there (the Lalique family, the founder of AOL, Robert Raushenberg), but no one cares about that, no fancy cars, no flashy clothes. It's all flip-flops and shorts.

Why is it so little known? Sanibel and Captiva actually actively discourage visitors. There is very little parking for day-trippers and the town council continuously tries to opt-out of county tourist programs. It's a place for residents, but there are a few beachfront hotels.

Library; http://www.sanlib.org/whats-new.html Art Center; http://www.bigarts.org/

Here is an easy website with all the real estate listings; http://www.floridamoves.com/

I grew up in Florida, and that is the best place in the state. And I have been ALL OVER Florida. I will retire there one day.

 

[missy]

Re: DH & I would love to purchase a home by the sea in the U

Don't forget that if you get a condo you could very well be paying some hefty monthly HOA/Association fees.

And special assessments! DH has poured over 20K EXTRA into his condo in the city over the years. The last special assessment was for 18K over three years.

Remember, when you own a home, whether it be condo, co-op or house there are always extra costs. Planned and unplanned. That is simply part of being a homeowner. Your dh had to pay special assessments for his condo but someone else might need to replace a roof or a/c system in their house etc. We own both a co-op and a house and let me tell you, it's 6 of one, half dozen of another. There is no way of getting around extra expenses when you own a home.

 

[Imdanny]

Re: DH & I would love to purchase a home by the sea in the U

1/4 to 1/2 isn't even close to being on the water in most places. For instance, in my state and county, 3/4 is the going rate for a house (median, average, whatever) and condos are well over 1/2. My parents' house in a different state, nowhere even close to water, is the median price point for the county according to the tax assessment valuation of $350,000 (it's crazy- it's just a three bedroom, 1 1/2 bath middle income house). I don't know where you want to live in the US, but not everywhere near water is going to be the kind of neighborhood you've described. Many waterfront properties are in Florida and California (and in Hawaii where I live obviously there are many). I don't know how much waterfront homes are in Florida and California, but the prices of homes in Florida is getting close to the price of my parents' house, and in California, way more than 1/2. A 1/2 in California is probably not far above the median for California, let alone on the water.

 

[SandyCheeks]

Re: DH & I would love to purchase a home by the sea in the U

How fun to be on the hunt for a vacation home. Ventura, CA is pretty nice and affordable, Oxnard is even cheaper. I think you could find a condo in Ventura in the $500k range however it won't be beach front. It's about 70 miles north from LAX, not sure if that's too far to drive after a long flight from Asia though. My mom lives around there and she loves the weather, not too hot in summers no need for air conditioner and winters are very mild. I love going there on weekends to get out of LA.

 

[Imdanny]

Re: DH & I would love to purchase a home by the sea in the U

I grew up in Florida, and that is the best place in the state. And I have been ALL OVER Florida. I will retire there one day.

So are you moving there?

I grew up in Florida too. I was born in Tampa.

 

[Miss Sparkly]

Re: DH & I would love to purchase a home by the sea in the U

My grandmother just sold her mobile home in the San Fernando Valley for just under 300k My aunt's house is well over 500k and still a bit of a drive from the beach. I can't imagine how much a beach house would be. Maybe you could get lucky and find a short sale?

 

[Mayk]

Re: DH & I would love to purchase a home by the sea in the U

Ponte Vedra Beach! Florida. Just voted one of the top 10 places for a family vacation. Unspoiled beaches... Still affordable. Lovely community.

 

[diamondseeker2006]

Re: DH & I would love to purchase a home by the sea in the U

Definitely not SC. We own a 3 br/3 bath oceanfront condo with some friends on a nice island/beach near Charleston (which is a fabulous area), and before the real estate decline units like ours were selling for 1.2 mil. and they are now selling for about $800k. You won't find anything that would meet your standards for $500k, I don't think. You'd be off the ocean in the nicer areas for sure.

 

[sonnyjane]

Re: DH & I would love to purchase a home by the sea in the U

My family is from Destin, Fl. My mom lives about half a mile from the beach and bought her 3/2 in 2001 for $600K. Now since the market tanked, there are several houses in her neighborhood just like her place selling for around $200K. Stinks for my mom, but good for those looking to buy! Now, waterfront or ocean view is more expensive, but it's worth investigating. Destin is in the Florida panhandle and is gorgeous. It's not warm year-round (winters can be in the 40's and 50's) but that beats snow. Keep in mind, though, that living near the ocean, at least on the east coast, means hurricanes. Flood insurance and homeowner's insurance are higher the closer you live. My mom has needed serious repairs, but we have seen some of the homes and condos built right on the beach be completely swept away. It's a risk you should definitely assess!

I live in Southern California and I have to agree with all that said you won't find what you're looking for here for anything remotely close to your budget. I rent a 2/2 townhome built in 1974 that's 15 minutes from the ocean and these units sell for $380K.

 

[LJL]

Re: DH & I would love to purchase a home by the sea in the U

I grew up in Florida, and that is the best place in the state. And I have been ALL OVER Florida. I will retire there one day.

So are you moving there?

I grew up in Florida too. I was born in Tampa.

Me too. So now I'll be quiet and enjoy my anonymity again.
I remember Sanibel as being alright. You have to think about what youre looking for - if its nightlife and convenience to many kinds of stores, Sanibel might not be it. Of course, when people are aging and considering retiring, they dont care so much about those things -so Sanibel might be perfect.

This is really a tough situation - trying to look for places to move without seeing them all...

 

[tuffyluvr]

Re: DH & I would love to purchase a home by the sea in the U

What about Hawaii? I lived in Maui, and I was shocked by how inexpensively you can buy property. granted, you won't be able to afford anything right on the water, but you can get a place with a beautiful view upcountry Maui for about $500k. Kaui'i and parts of the big island are relatively inexpensive too. From what I have heard, Oahu is quite pricy, but I don't know what the prices are like firsthand. What's great about owning in Hawaii is that you can rent your place for a week or two at a time, as a vacation rental. I have several friends--two in Australia and one here in CA who do that. They hired a property manager that they trust to handle the business of renting and maintaining the place, and then they use their place for their own vacations several times a year.