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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Jeremiah H.
Investor · Tavares, FL · Member since 2015 · 110 posts · 24 votes
11y
How does electricity cost differ in California than Florida? Just as you think we have Hurricanes every year we think California has an energy crisis and rolling blackouts are the norm. Neither are probably as bad as the other thinks.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Jeremiah H.
rolling black outs were so 1990's but it was strange.. I was coming home one night from Acapulco and flying over Mexico it was all bright lights then we cross into CA. and it was like flying over North Korea LOL.. .but it was a blip.
For me personally I could never live in Florida for one simple reason.. Its too FLAT... I don't like being places that I can get my bearings by looking at mountain ranges .. And I hate driving in roads were its like a tunnel the only time you can see anything is on an over pass.
but to each his own for sure.
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Jeremiah H.
Investor · Tavares, FL · Member since 2015 · 110 posts · 24 votes
11y
What's the average power bill in your area for a 3/2 SFH?
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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.
I would not have a clue I don't look at silly small bills as they are inconsequential in the scope of things.
I do know that power is very expensive in Hawaii though a friend of mine does PPM type partnerships for solar there and kills it...
Oregon has from what I understand very inexpensive power because its all coming from Hydo form the Columbia rivers 25 dams.. with the Grand Coulee being the largest.
Its one reason you have many server farms in central Washington and in Oregon.
Also a main reason that Intel decided to spend 10 billion building 3 new fab plants in the silicon forest.. and bring in 6k new jobs that makes us home builders smile. :)
Ca. has Hydro and I think they might still have a nuc or two.. at least I think the one south of Sac was running a few years back I could be off on that.
But when your paying 2 million for a 1600 sq ft rancher in Palo Alto your not really worried about your power bill LOL
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Andy Engel
Investor · Chico, TX · Member since 2015 · 4 posts · 2 votes
11y
I have a rental in Long Beach, MS which is very close to Biloxi, MS. It's very affordable, a gulf coast beach of white sand and nearby restaurants near the Biloxi tourist area (close but not too close). I currently have a full time resident living there but often considered it as a retirement home due to it's close proximity to the beach.
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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
I've never lived anywhere in California where we had blackouts. Also, here in much of California solar power can be used.
I love the HGTV show Beachfront Flips (or whatever the name is) It's a fun show to watch, but then you wonder, why are they so cheap? In my experience it's all RE 101.
High demand + Low supply = Higher prices
Low demand + Abundant supply = Lower Prices
Which is better for your specific situation determines which location is best for you If you're looking to live cheap, and make a little extra income on the side renting out space, then the cheaper areas will work great.
If on the other hand you want to run a competitive vacation rental business, and get top dollar, and gain appreciation, then you're going to want to be in high demand areas.
Both have their appeal. For the purposes of the original poster, any of the lower priced areas would probably be a good choice for his dad. I honed in on California, because I always think buying close to where you are, and know is a good move ... and I love California!
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Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
Originally posted by @Tyler Herman:

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.
Unless you currently live here and can see what these neighborhoods are doing then I would say your view is a bit outdated. Yes in the past these we're low income fishing towns, but prices here are rising and people are building nice homes.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Account Closed
it will continue to attract the same type of retiree or semi retired like the Oregon coast does. just very slow methodical growth.. the issue is transportation.. you have a commuter type airport.. which only feeds a few hubs. and of course we know how far off the beaten path it is.. slow and steady would be my take.. Logging and fishing are a mere shell of their former self.
What kind of new business's are there.. It would be interesting to know... light manufacturing may work but the problem is there is no rail... or at least I dont' think there is. the railroad that used to run up the Middlefork of the Eel has been shut down for years.. to many tunnels and landslides to keep it operational. And there is not a rail line to the east I don't think and not one going north into Oregon.. so its all trucking and its a long truck up from SF as we know.. or over from the sac valley.. you can take hwy 20 through lake county to connect.. but coming over from REdding as you know is a very mountainas drive.. beautiful I love it but not a prime truck route.
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Everett Marshall
Bude, MS · Member since 2014 · 144 posts · 9 votes
11y
I live in mississippi and the prices here compared to other places are low but the market that interest me is the heavily populated area of Dallas Texas. A 3/2 SFH here would run usually around the 100 to 150k but in Dallas I noticed the price for some 5/2 SFH are around the same price.
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Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
@Jay Hinrichs
Well King Salmon has one of the best fresh seafood joints in the county now, Gills by the Bay. My fiance and I drive there whenever we want a kickin crab benedict in season or mimosas and fish n chips and to watch the boaters. They also have a lot of art galleries opening up.
Somoa/Manila is behind, but growing. I can't really speak to any new businesses that I am aware of but I heard rumors that the Yurok tribe might be interested in the old paper mill to process hemp. I only brought these areas up in conversation because the question was in regards to cheap oceanfront properties. Manila/Samoa is attracting young couples-first time homebuyers because of the cheap prices right now, so i think the "tides" may be turning in the future. - Pun Intended!
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Cabo San Lucas, Mx on the Sea of Cortez side.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@David Begley
Cabo is not that cheap anymore.. have you been up to La Paz there are some subdivisions north of town that look over the sea ... you can buy pretty cheap stuff there. it has the same feel as the land in San Feliepe only you can get jet service out of La PaZ
And Rosita beach between hotel California and Cabo is pretty cool you can buy cheap land there. and some ocean front as well.
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Mimi Booker
Investor · Spring, TX · Member since 2015 · 29 posts · 6 votes
11y
Originally posted by @Jon Klaus:

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.
Ugghh...From someone who was in FL and now in TX, I can say that Galveston doesn't come close to the beaches anywhere in FL. In fact I've been to Galveston ONCE and will never go back there. Old, dirty, sad town.
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Tyler Herman
Investor · Tacoma, WA · Member since 2015 · 84 posts · 42 votes
11y
@Jay Hinrichs
Honestly, never thought I'd ever live in Mississippi. Since growing up in Humboldt I've moved to a number of different cities over the past 10 years for work and to explore.
About 6 months ago I started to look for a place to live that was cheaper than most of the cities around the west and east coast were I'd been living, so I started looking for jobs in the south and midwest. Something came up in Jackson that paid as well as the jobs in most cities so here I am.
I had previously never been interested in real estate, more of a bogglehead because I'd always lived in places were renting was cheaper than buying and it took so much money for a down payment but Mississippi has really opened my eyes to rental properties.
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @Jay Hinrichs:

@David Begley
Cabo is not that cheap anymore.. have you been up to La Paz there are some subdivisions north of town that look over the sea ... you can buy pretty cheap stuff there. it has the same feel as the land in San Feliepe only you can get jet service out of La PaZ
And Rosita beach between hotel California and Cabo is pretty cool you can buy cheap land there. and some ocean front as well.
Cabo is still cheaper than SoCal! We've had a fractional interest in a place in Cabo for several years, and yes it is getting more expensive, especially along the corridor where Tiger Woods' new Diamante resort and golf course is being developed. Later this fall, I'm going to check out San Jose, which is just about an hour trip up the Sea of Cortez coast. And you are correct, the getting there part from the east coast isn't easy or cheap. Even from the world's busiest airport (ATL), there is just one non-stop direct flight to Cabo each day.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@David Begley
we love cabo its super easy for us to get there being that we don't have to go through a time zone.. and people in LA and San Deigo its a no brainer 2 hour flight.. kind of like going from Miami to any of the Caribbean islands. Fractional is a nice way to have high end home ...
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Al Wilson
Investor · Daphne, AL · Member since 2014 · 1k+ posts · 242 votes
11y
If you have not already done so, you will want to look at Gulf Shores and Orange Beach, AL and Perdido Key, FL. Beautiful beaches, great weather, and robust real estate markets. Good luck.
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OP
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
11y
@Jay Hinrichs
@David Begley
Is there any issues with buying in Cabo with the Drug Cartel and stuff like that. Is it safe?
Another question I have is how long can you stay in Mexico before legally needing to return to your home country? How do you become a permanent resident in Mexico?
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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from my limited experience Baja other than Tijuana and the other border town Colexico I think it is.. the rest of Baja I have always felt safe.
6 months is usually the time lines. I had a home up in B. C. and that was the case there
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James Park
Real Estate Broker · Johns Creek, GA · Member since 2009 · 870 posts · 664 votes
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i see many financially independent and wealthy households in atlanta move to florida particularly in the tampa bay area in west coast florida. The summers are definitely brutal, but florida is a 0 state income tax state. Anywhere u live in california, you will be taxed at the highest level for your retirement income. Personally i think that florida beaches are more beautiful than the califorinia beaches.
The western florida coast is absolutely gorgeous along siesta key beach, sarasota, up to clear water beach. This is one my favorite places to visit for beautiful beaches and deep sea fishing in January.
Although my plans may change, my retirement goal is to build a $200k passive income real estate portfolio in atlanta and live in a beach front home in the west coast florida While enjoying the benefits of living in a zero income tax state.
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @Account Closed:

@Jay Hinrichs
@David Begley
Is there any issues with buying in Cabo with the Drug Cartel and stuff like that. Is it safe?
Another question I have is how long can you stay in Mexico before legally needing to return to your home country? How do you become a permanent resident in Mexico?
I feel safer in Cabo than in most areas of Atlanta that I rehab houses! In fact, our kids and their friends (ages 16 - 21) go out to Cabo nightlife without the parents and I've never worried. One of the locals, however, did strongly suggest one of the college girls with us last trip lose her sorority "Zeta" tee shirt because evidently "Los Zetas" is the most violent Mexican mafia drug cartel in Mexico and they would not be amused.

I do not know the answer to your last two questions, but I have several friends that have retired to San Miguel de Allende, which is in the mountains, I believe. I'll see if they have dual citizenship and how that all works. I also think it has been only within the last 5-7 years that Americans could buy beachfront property in Mexico, and even now the dirt will be a land lease and the improvements are financed through U.S. entities.
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @Jay Hinrichs:

from my limited experience Baja other than Tijuana and the other border town Colexico I think it is.. the rest of Baja I have always felt safe.
6 months is usually the time lines. I had a home up in B. C. and that was the case there
I don't think anyone feels safe in Tijuana. I had to go back a 2nd time just to see if my fear was justified! Vegas seems like Salt Lake City in comparison!
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @James Park:

i see many financially independent and wealthy households in atlanta move to florida particularly in the tampa bay area in west coast florida. The summers are definitely brutal, but florida is a 0 state income tax state. Anywhere u live in california, you will be taxed at the highest level for your retirement income. Personally i think that florida beaches are more beautiful than the califorinia beaches.
The western florida coast is absolutely gorgeous along siesta key beach, sarasota, up to clear water beach. This is one my favorite places to visit for beautiful beaches and deep sea fishing in January.
Although my plans may change, my retirement goal is to build a $200k passive income real estate portfolio in atlanta and live in a beach front home in the west coast florida While enjoying the benefits of living in a zero income tax state.
Yes, I agree, Florida beaches, especially on the west coast and gulf are much nicer than any I've seen in California. During high season around Seagrove, Seaside, Rosemary Beach, Destin a visitor will be surprised to see more metro Atlanta license plates than Florida residents. A lot of folks I know with vacation homes/rental properties in Florida use Florida as their residence to avoid state income taxes, yet another plus.
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Daniel Walker
Real Estate Broker · Santa Rosa Beach, FL · Member since 2009 · 44 posts · 21 votes
11y
Many of my customers do the same thing. Not every area allows vacation rentals though. As far as I know, no place on the Atlantic allows them and only the pandhandle and Tampa/Sarasota area do on the Gulf.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@David Begley
now David that is a great perspective.. from East coast to West coast..
Me personally I think the CA beach's are far nicer than any I have seen in Florida or the East coast.. simply because in Florida they are all FLAT... and on the West coast we have dramatic mountains coming down to the water... which gives you depth and character along with great beach's.. now the water is cold that's for sure.. I mean I can't even get in the ocean at Cabo its too cold for me... at least in the winter when I am there. And you get bigger and nicer surf as well for those that like to do that.
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