Cheapest Oceanside Retirement Cities?

Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes

My father is interested in possibly getting a retirement home close to the Ocean. What markets close to the ocean would be the most affordable for both retirement and getting a few buy and hold cash flow investments on the side?

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David Hays

Investor · Malaga, Andalucía · Member since 2014 · 150 posts · 73 votes

11y

Since you said affordable - and didn't actually say California - how about somewhere in Europe? I can tell you that you can buy a gorgeous apartment on the Costa del Sol here in Spain (a very international area, and direct flights SFO to Malaga) for under $200,000 any day of the week. There's huge potential for VR rental there too, whether for the primary residence when not in use or for other properties. Cost of living is remarkably low here, so whatever the retirement income is it'll definitely stretch far. I'm not trying to sell you anything, but I could point you in the right direction if that sounded interesting.

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Christopher Telles
Investor · Irvine, CA · Member since 2015 · 373 posts · 205 votes
11y
Actually, Oceanside, CA
You might also check into:
Oxnard, Point Hueneme, Long Beach, Huntngton Beach, Dana Point and Imperial Beach
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Account Closed
OP
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
11y
Christopher Telles that might work for the retirement part...but not as much cash flow there. I was thinking more in the east coast and gulf coast markets. Thanks for your suggestion.
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Karen MargraveBusiness Member
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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Account Closed You aren't seeing the bigger picture. Because Orange County has a great environment for Vacation Rentals, I will use that for my example.
Here in southern California we have perfect weather, YEAR ROUND, meaning more peak days for vacation rentals. In addition, that great weather draws people that live in colder climates here for the winter, from around the world, so when other areas of the country have their Vacation Rental season die, southern California is still humming along!
Add to that southern California has:
- Amusement parks (including world famous Disneyland)
- Zoos and Aquariums
- Cultural events
- Major sporting events
- Tourist attractions galore
- World renowned shopping centers
- High tech companies
- World class medical centers, universities, etc.
- and finally BEACHES!! with some of the best surf beaches in the world.
The house we are completing in San Clemente, though listed at $1,899,000, was designed with the thought that someone might want to purchase it for a luxury vacation rental, so we made sure rooms were spacious enough for bunks, plus added two separate loft spaces that would hold wall beds or sofa beds, in addition to adding additional view deck in the common area. In other words, it accommodates a good size family or group. If someone were to rent that for $6500 - $7000 per week, it would still be a bargain, if you compare it against the cost of for the number of rooms that would be needed for the same group at hotel. In addition, at a hotel, the group would be eating meals out, etc. driving up their costs even higher!
I haven't run the numbers, and it would depend on whether or not someone is self managing, etc., as to the cash flow it (or any) VR property would have. Though the prices seem high for a week, there are properties that go for double that, and more, because Orange County draws very high net worth visitors, for all the reasons listed above.
There are also small cottages that are all along the coastal areas, in addition to condos. In fact, we are developing 2 new, beach close condos that we will market to VR buyers.
In addition, many of the coastal areas of Orange County have very strong appreciation , now and historically, so dollar for dollar, you're probably much better off investing here than the east coast, etc.
The point is, when looking at any niche, you want to make sure you are comparing all the factors, and comparing apples to apples.
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Jon Klaus
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
11y
I don't know if he would consider the gulf coast, but there is some value from Texas to Florida. Galveston is pretty interesting because there are low-priced properties just blocks from the beach.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Account Closed
Oregon Coast offers some interesting options... and then you have Long Beach Washington this is some of the least expensive ocean front in the US.. of course the weather is another factor.. and then you can buy rentals in Brandon 's hood up there in Abeerdeen there are low priced homes there.. no real appreciation but inexpensive and on the ocean.
I am building some really great new homes in Seaside OR... 400 to 450k for ocean view brand new with all the whistles and bells.. And above the tsunami zone. Actually sold my first one from someone from Dallas who wants to get out of the lovely Texas summer weather LOL>.. But when they were here for the walk through they asked me if it rained much in the winter!!! I said only from Oct to July.. other wise its great.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Account Closed
Also in CA... Google Shelter Cove .this is a really cool place out in the boonies though. but look at the airport there I love flying in there .. one of my favorite all time places to fly.
Brookings Oregon is nice its the warmest spot in the NW in the winter..
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OP
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
11y
@Karen Margrave thank you for your input but I think you missed the part in my post that said "affordable". Californians just way to expensive in most parts.
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Karen MargraveBusiness Member
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Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Account Closed You're right, I did miss that detail! Sorry. However; "affordable" is a relative term. You might want to list a price range, so that others can weigh in with various options. Also, there are condos, etc. in many of the beach areas of California that may be within reach.
California is a HUGE state with a very long coastline, and various priced markets along the coast that have beautiful scenery, from the giant Redwoods and ocean with rock outcroppings, and lush greenery (site of Jurassic Park movies) of the northern coastal areas of Humboldt and Del Norte counties, down to San Diego, etc. Good luck!
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Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
I would recommend Humboldt County, my home. I just wholesaled a house in cute King Salmon area of Eureka to another investor, 3 bed 2 bath 1300 sqft on the beach with gorgeous ocean views, ARV was 195k and my buyer paid 93k. There are great deal up here, and it's a growing area with natural beauty everywhere.
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Jon Klaus
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
11y
Originally posted by @Account Closed:
I would recommend Humboldt County, my home. I just wholesaled a house in cute King Salmon area of Eureka to another investor, 3 bed 2 bath 1300 sqft on the beach with gorgeous ocean views, ARV was 195k and my buyer paid 93k. There are great deal up here, and it's a growing area with natural beauty everywhere.
On the beach for $93K? Sounds great.
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Account Closed
Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
Originally posted by @Jon Klaus:

Originally posted by @Account Closed:

I would recommend Humboldt County, my home. I just wholesaled a house in cute King Salmon area of Eureka to another investor, 3 bed 2 bath 1300 sqft on the beach with gorgeous ocean views, ARV was 195k and my buyer paid 93k. There are great deal up here, and it's a growing area with natural beauty everywhere.
On the beach for $93K? Sounds great.
It was a fabulous deal in a beautiful area! I see our area becoming a hotspot for retirees. We also have Redwood Forests and Beautiful Rivers.
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Account Closed
Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
Might I also add to take a look at the Manila sub area of Eureka CA. (Peninsula Dr. Specifically) Right now you can get houses here for under 100k right on the ocean. Most of these houses need work, but I see it as a great investment area, rents are high and returns are good.
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David Hays
Investor · Malaga, Andalucía · Member since 2014 · 150 posts · 73 votes
11y
Since you said affordable - and didn't actually say California - how about somewhere in Europe? I can tell you that you can buy a gorgeous apartment on the Costa del Sol here in Spain (a very international area, and direct flights SFO to Malaga) for under $200,000 any day of the week. There's huge potential for VR rental there too, whether for the primary residence when not in use or for other properties. Cost of living is remarkably low here, so whatever the retirement income is it'll definitely stretch far. I'm not trying to sell you anything, but I could point you in the right direction if that sounded interesting.
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Jayden Hakunti
Investor · San Ramon, CA · Member since 2013 · 55 posts · 11 votes
11y
Long Beach has some good neighborhoods near the beach. Check out my blog to get to my facebook page which has videos of beach homes and info about how to buy a beach home. Or visit www.facebook.com/howtobuyahome
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Ken Martinez
Investor · Whittier, CA · Member since 2010 · 33 posts · 21 votes
11y
I great up in Orange County, CA and while a great place to live is not affordable by any definition. I hate to promote watching TV, but HGTV "Beachfront Bargains" is a great show to watch for ideas on where to leave cheap by the beach, exactly what you are looking for. This is my new favorite TV show.
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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
11y
@Account Closed
If you want affordable, come have a look in the Maritimes. Prices on waterfront properties are generally lower - though European and U.S.A. buyers have been driving them up these past years - and, at the moment, you get a 23 - 25% bonus on the currency exchange.
Now, we don't have California's year-round weather, but we also don't have the prices, crime or earthquakes ;-)
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Roy N.
sounds like a nice place for those stuck in Texas and want to get out of that oppressive heat and come up there for the summer.. Ala the bush's going to Maine.
@Account Closed
are those properties actual ocean front or just ocean view ... I know Eureka a little bit and its on a bay not on the ocean.. please fill in the blanks. And maybe they would like Honeydew or Petrolia both nice little quaint towns.. and the black sand beachs are awesome there on the lost coast.
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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
11y
@Jay Hinrichs
The Bushes may officially go to Kennebunkport in the summer, but George senior has been coming to the Miramichi to salmon fish for decades.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Roy N.
as far north as I have gotten is about middle of Maine very pretty country.. I want to take the cruise from Quedec to boston and get a quick view of your wonderful area.
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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
11y
Originally posted by @Jay Hinrichs:

@Roy N.
as far north as I have gotten is about middle of Maine very pretty country.. I want to take the cruise from Quedec to boston and get a quick view of your wonderful area.
Let me know your itinerary when you do and we'll make certain you get some of the Maritime hospitality.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Roy N.
alright Roy your on.. !!! and if your ever in Portland area I will reciprocate.. take you flying so you can see all the nice country side here.. just have to over look the clear cuts.. LOL
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Roy Oliphant
Rockwall, TX · Member since 2014 · 380 posts · 211 votes
11y
@Account Closed
Kind of a broad question. The US Coastal areas have multiple climates, topographies, cultures, etc. Is there some narrowing of what he's looking for? For example, I would love a Maine climate but I'm a sunset not a sunrise kind of person.
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James Bynum
Phoenix, AZ · Member since 2015 · 106 posts · 29 votes
11y
There is always Florida, right now Daytona Beach prices are cheap because the area started to suffer, but I think it's trying to make a comeback, there are cheap deals all over the place and even right on the beach.
http://www.zillow.com/homedetails/2102259165_zpid
This place will even manage the rental of your place for you, not sure on all the details but it's only $54k for the unit
http://www.zillow.com/homedetails/67192333_zpid
Or this that's only $30k and is on the ocean with an ocean view
There are deals everywhere but do your research in this area, because there are some really bad neighborhoods, some right in the beach.
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Michele FischerPro Member
Rental Property Investor · Seattle, WA · Member since 2013 · 2k+ posts · 1k+ votes
11y
You might want to check out Ocean Shores, WA.
Washington beaches are NOT California beaches, but it is the ocean and it is reasonablely priced. I would visit beforehand for sure. I think of the area as cold and windy and miserable, so I don't get it, but it is one of the closest beaches for Seattlites, so has a good tourist market. They have canals (not like Naples, but pleasant) and a lot of festivals (kites, sand castle, etc) and it feels like an area that could appreciate.
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James B.Pro Member
Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
11y
Gulf Shores, AL? Never been, but I agree with @Roy Oliphant specify climate and continent (even language). Do they want to be Ex-Pats with a different currency?
I could go on for hours :)
Thailand is nice :)))))
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