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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Jane A.
Investor · Shawnee Mission, KS · Member since 2015 · 423 posts · 114 votes
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James Bynum What is going on in Dayton ? Why area is down ?
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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
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Originally posted by @Roy Oliphant:

@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.
In that case, forget Maine ... keep heading up the coastline to Labrador, this time of year you can have sunset and sunrise back-to-back ;-)
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Jane A.
Investor · Shawnee Mission, KS · Member since 2015 · 423 posts · 114 votes
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James Bynum I like ocean view :))) but I do not like HOA fees of $300 a month :((( To cover it I will need to rent it out and I will lose the idea of my private place to stay :((( Now I understand friends who was inviting us to spend some time in their condo in Dayton :))) By the way, is it nice to swim there ? What is the season ?
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Account Closed
Investor · Central Valley, CA · Member since 2012 · 6k+ posts · 3k+ votes
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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.
Lots of cheap properties "on the beach" in CA. King Salmon has a trailer park on the beach too. Coastal CA has all kinds of ocean front properties that wouldn't meet the needs of the East Coast and Southern folks. Rocky, cold water, foggy. Lots of mobile home parks. But we love it.
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Account Closed
Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
Originally posted by @Jay Hinrichs:

@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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Account Closed
Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
Actually I was mistaken, the Manila sub area is actually in Arcata CA which is just north of Eureka, and Peninsula Dr. Is on the north peninsula so you have ocean on one side and bay on the other. I foresee that area going up in value soon.
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Jeremiah H.
Investor · Tavares, FL · Member since 2015 · 110 posts · 24 votes
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Tons of opportunities in Florida. You get many of the same benefits that @Karen Margrave outlined without the price tag of California
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James Bynum
Phoenix, AZ · Member since 2015 · 106 posts · 29 votes
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@Jane A. I'm not completely sure about the downturn, but can speculate that the tourism industry suffered during the recession, but seems to be rebounding pretty well now.
I was just throwing it out there on posting those properties. I just wanted to look up some stuff quick to show my point that it's affordable. Although those properties are at the center of where most tourists would want to be, but that's just a guess.
This post might help to see how active it is. (Pretty much all year round)
http://travel.usnews.com/Daytona_FL/When_To_Visit/
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Account Closed
OP
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
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Great thread everyone. I appreciate all the suggestions. BP is AWSOME!
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Tyler Herman
Investor · Tacoma, WA · Member since 2015 · 84 posts · 42 votes
11y
I grew up in Humboldt County CA. I'd stay away from Somoa and King Salmon. Neither are nice areas. Shelter Cover is nice but it is extremely isolated. McKinleyville has some beach front property or else I'd look further north in Oregon. Trinidad has some nice beach homes but more pricey. It's one of the cheaper areas in coastal CA but it's still CA... you're gonna pay a lot.
LIke others have mentioned the Gulf has some great deals. Mississippi Alabama Texas and Florida they're all fairly cheap right now.
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Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
11y
A key question is if your dad wants a warm climate and snow free living. There are also taxes. Rhode island and southern Nj have opportunities but taxes are high And there is still snow. Otherwise if he wants to get as far away from family as the east coast try southern florida coast. There is a lot of rental market and ok prices.
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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
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@Jeremiah H. Florida (humidity) and the Gulf have HURRICANES, meaning higher insurance rates, fewer rentable days, etc. Which goes to my original point. When comparing any types of property, it's important to look at all of the factors that feed in to that market, comparing apples to apples.
For Vacation Rental properties, there's just no place else like southern California for tourism, and that's why it's such a great choice for Vacation Rental owners, summer never ends!
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Kara Haney
Investor · new york, NJ · Member since 2014 · 137 posts · 13 votes
11y
and a lot of Canadians still like Florida for the winter - there are direct flights from Europe and SA to Miami etc and the cruise ships leave out of FL ports - I personally dont like the crime, sinkhole and lack of drinking water risks that are present but most people on vacation dont care about that - isnt the big disney park in FL? I do know Eurodisney was a flop.... SA buy property in FL as a hedge - currency and sovereign risk.
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Matt R.
Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
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@Account Closed I vote Oregon for value. Rents up 15% in Brookings yoy. My buddy bought a couple ocean view 2200 sqft townies sub 300k up there and loves it. He bailed Vegas for those. It is funny when we compare those two locations aesthetically.
Many SoCal folks retire on the beach in Baja, Mex. IDK the prices but I know the lobster and beer is cheaper.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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@Tyler Herman
how do you go from Humboldt county to Jackson MS.. I have a lot of interests in Jackson. and of course I fly over Humboldt between my home base in Oregon and my clients in the bay area often.. plus I used to fish the Smith the Eel and Kalamath Trinity when I lived in N ca. nice area... I was kind of joking about Shelter cove but its pretty neat if your a pilot and great values.
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Maggie Tasseron
Investor · Palm Desert, CA · Member since 2015 · 215 posts · 64 votes
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Originally posted by @Account Closed:

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?
Hi Joey: I am an RE investor here in CA and am just now in the process of selling off my properties in order to move to the East Coast. I put my finger on the map at about the halfway mark and that happened to be North Carolina. It just happened that when I started checking out the MLS there, I found that properties I am selling for $300,000 minimum in Palm Desert can be bought in nice 'hoods in NC for under $100,000. I have had it with tenants so plan just to buy myself a nice house to live in and then flip a few. If your Dad is interested in flipping rather than holding, there are a ton of great properties in that area. Does he really want to be a landlord in his retirement?? I've been looking mainly in New Bern and Greenville and have found at least a dozen that I would have bought if I were already there. Have checked out Portsmouth VA as well; lots of great homes but I'm not sure I want to live that close to military installations.
I want to stay away from living on the coast as I don't want to trade apprehension about earthquakes for hurricanes, but there are a lot of properties within close range of the ocean; just need to watch for flood zones but that is easy to check out online.
I hope this helps your Dad out. I'm also of retirement age so think I get what it is he might be looking for.
Regards to both of you, Maggie T.
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David Krulac
Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
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Florida, most anywhere on the Atlantic south of NJ
Gulf coast, FL, TX, Miss. Ala.
Costa Rica, Belize, Panama,
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Joe Bertolino
Investor · El Dorado Hills, CA · Member since 2012 · 1k+ posts · 1k+ votes
11y
A family friend has a place in Baja/San Felipe for sale. 360 degree views on the Sea of Cortez with a small boat dock. The husband just passed away. He was a high end mechanic so the place was engineered and maintained very well. It is a very peaceful place. Small fishing boat and sand rail included. $120k Cash. Send me your email if you want the details.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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@Joe Bertolino
I went down there once to check on a bay area company that was pre selling lots they had hundreds of them and were promising that a golf course would be put in and such.. that was 12 years ago or so.. do you know if that ever happened or is it just still desert.
when the tide goes out there it really goes out :)
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Joe Bertolino
Investor · El Dorado Hills, CA · Member since 2012 · 1k+ posts · 1k+ votes
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Jay Hinrichs I have only been there once but I don't think that community got off the ground. There is a large group of Americans in their area but they are custom homes on the beach with no golf course or HOA. They are all solar and off the grid. It is not touristy but you can get whatever you want or need. There is even a Costco about 25 mins away in San Felipe.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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@Joe Bertolino
yeah when I was there this project If I recall was just north of town.. they had built elevated decks were you walked up and viewed the property with a map showing all these great amenities... my first reaction was this could be a cluster who's to say they actually do it and how would you go about getting recourse. they were doing fly and buy just like turnkey does.. they had big presence in LA and Bay Area you would fly to San diego and they would bus you over.. or you could pay to ride on their DC 3 which would fly you right into the airport. We were looking at it to be their Oregon brokerage but I was not comfortable letting my agents sell it.. as I felt high probability of failure.
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Leann W.
Investor · New Bern, NC · Member since 2014 · 20 posts · 9 votes
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Hi! New Bern, nc is my home. 40 minute ride to the ocean and other quaint waterfront areas. Swansboro, nc also nice. Our real estate values way "cheaper" than west coast insanity... Slower lifestyle. Don't tell everyone... Sshhh. 😉
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Jeremiah H.
Investor · Tavares, FL · Member since 2015 · 110 posts · 24 votes
11y
Originally posted by @Karen Margrave:

@Jeremiah H. Florida (humidity) and the Gulf have HURRICANES, meaning higher insurance rates, fewer rentable days, etc. Which goes to my original point. When comparing any types of property, it's important to look at all of the factors that feed in to that market, comparing apples to apples.
For Vacation Rental properties, there's just no place else like southern California for tourism, and that's why it's such a great choice for Vacation Rental owners, summer never ends!
I live in Florida. We haven't had a hurricane in 12 years.
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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
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@Jeremiah Hillard (@mention didn't work!) I'm not picking on Florida, just trying to make the point about why sometimes paying more for a Vacation Rental in California makes sense. We do have year round mild weather, no tropical storms, etc.
However; I hadn't realized that Florida had gone so long without a hurricane! Like me I think everyone thinks they hit every year, since we watch the weather channel and every year it seems like there's a warning of one, but we forget how many miss! So here's a link to set the record straight, so we don't misjudge Florida Hurricanes
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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@Jeremiah H.
still affects your insurance rates though.. and here in Oregon we have not had major quake since 1995.. but they are predicting the mother of all quakes that will wipe out most of seattle and Portland and the coasts.. so I am with you there natural disasters are down the list.. every place has something.
more people are killed in thunderstorm convective activity IE tornado's each year than anything else..
I think one of the issues for us west coast born and breed though is the humidity and heat of the gulf and eastern seaboard... Its hard to take.. I lived a year in MS and its like living in a petri dish LOL.. and when I get off the plane in Houston in the summer the smell of dank moldy air permeates the jet way right off the bat...
When you land in Portland you just smell the Paper mill LOL if the wind is right.
But no humidity is a big deal for many of us.. .but then we have lots of people come from other states and can't take the long drizzly dark winters.. I know I hate them.. but I get to travel almost every month.. so I am not sitting here day in day out.
The best weather for me in the world is North Bay Area .. enough rain to keep it green and nice vineyards.. but no humidity and 3 seasons. as winter is gentle.. But when you have a great area like that RE prices are high of course. but not that high. I mean its comparable to Charleston SC for instance.
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