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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James Park
Real Estate Broker · Johns Creek, GA · Member since 2009 · 870 posts · 664 votes
11y
Below is the ranking of the 25 best beaches in the United States ranked by travel advisor in 2015. Florida takes 9 of the top 25 spots, Hawaii takes 7 spots and California takes 5 spots. California's state income tax is 13.3%, Hawaii's state income tax is 11.0%, and Florida is 0. Siesta Key, St Petes, Clear Water, Panama City, and Fort Myers are all located in the west coast side of Florida. Pensacola Beach and Panama City Beach is located in the Gulf.
About a year ago, I had lunch with a very successful entrepreneur whom I met through Bigger Pockets. He was a GA resident and sold two businesses and was looking to relocate to Tampa area since they were empty nesters and financially free. One advice he gave me is to make sure I domicile my residency in Florida couple years before I decide to sell off my businesses and real estate assets. He wanted spend is 4 months Nov, Dec, Jan, Feb) out of year next to the beach in FL and 8 months in GA. I would love a retirement lifestyle like that :)
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Eric TaitPro Member
Investor · Houston, TX · Member since 2013 · 314 posts · 146 votes
11y
For those that have an interest in learning about Belize, specifically Ambergris Caye we are developing there. I can give you more market info than you can shake a stick it.
While it is relatively "expensive" by central american standards, it is still pretty cheap by Caribbean standards.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@James Park
if you can afford a ocean front home in Socal your not worried about income tax LOL
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James Park
Real Estate Broker · Johns Creek, GA · Member since 2009 · 870 posts · 664 votes
11y
Originally posted by @Jay Hinrichs:

@James Park
if you can afford a ocean front home in Socal your not worried about income tax LOL
Exactly! I can't afford a ocean front home in Socal. Southern California lifestyle is great and all, but financial freedom, travel, emotional / physical health, and a happy wife / kids are much more important to me than owning a ocean front home in Newport beach paying $50,000/year on property and mello roos tax. LOL
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Vincent Crane
Realtor · Atlanta, GA · Member since 2015 · 693 posts · 357 votes
11y
I absolutely love southern cal, but it's obviously super expensive in most areas. Florida and Texas are probably the best best, or maybe some parts of south carolina/georgia
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James K.
San Diego, CA · Member since 2014 · 48 posts · 22 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?
A tourist visa will get you 180 days before you need to renew it. If you are staying longer than that you need a Temporary Resident visa which can be good for up to 2 years. After you have held a Temp. Resident card for 5 years you can become a permanent resident and at that time you could become a citizen if you like.
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @James K.:

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?
A tourist visa will get you 180 days before you need to renew it. If you are staying longer than that you need a Temporary Resident visa which can be good for up to 2 years. After you have held a Temp. Resident card for 5 years you can become a permanent resident and at that time you could become a citizen if you like.
Thank you James!
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Anthony GaydenPro Member
Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
11y
No mention of South Texas? Corpus Christi and South Padre Island?
As for California, I will pass on year round freezing cold ocean water.
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James K.
San Diego, CA · Member since 2014 · 48 posts · 22 votes
11y
I should also mention that you do not need a tourist visa if your stay is less than 72 hours and you are north of Ensenada. I have NEVER been asked for mine but I think they do ask for it if you are flying.
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Fred Heller
Real Estate Agent/Property Management · Houston, TX · Member since 2014 · 1k+ posts · 827 votes
11y
Galveston has a lot of affordable houses. Everything from turnkey to fixer-uppers within a few blocks from the beach.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@David Begley
if you have not been take a trip to Monterrey and Carmel by the Sea then drive south through Big Sur its stunning ... and you will get a feel for the difference's between a gulf or east coast shoreline ... well south of New York anyway you have some very interesting shore line in Maine etc.
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @Jay Hinrichs:

@David Begley
if you have not been take a trip to Monterrey and Carmel by the Sea then drive south through Big Sur its stunning ... and you will get a feel for the difference's between a gulf or east coast shoreline ... well south of New York anyway you have some very interesting shore line in Maine etc.
Yes, I've spent a few weeks in Maine the last couple of summers and man would I love to live there for their 6 months of summer! I have a cousin with a vacation place around St John on the Bay of Fundy in New Brunswick. Heaven on earth....
With respect to the Florida v. Cali issue comparing the relative beauty of each, I see where you are coming from. I'm of the notion that wide, flat white sand beaches suitable for beach activities is preferred, whereas the rocky coastlines in Cali and Maine are breathtaking, they just are very utilitarian for families with kids that want to play on the sandy beaches.
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Larry Fried
Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
11y
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Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
11y
@David Begley Maine does not have 6 months of summer that is for sure. We don't even get that much in MA and RI.
On beachfront if you gave me the choice of California or the Florida keys I would take the keys but that there was something about affordable in the question. California does have better hospitals than FL though. RI has some beautiful spots rocky and sandy beaches and trains and planes, etc. Not cheap but not the most expensive either.
Some more remote places are beautiful but I would want to live a reasonable distance from a few people I know in retirement, not too close and not enough to stay in the cold but a state or a couple away at the most.
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Account Closed
Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
11y
Originally posted by @Larry Fried:

Originally posted by @Account Closed:

@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!
Hey Chelsea,
I lived in Arcata for 5 years in the first part of this millennium, and visit there quite a lot. I am quite familiar with Samoa/Manila area. When I was there Manila in particular was a real rat hole - mostly run down places, shacks even, known for lots of meth activity, and virtually ran along the highway, so noisy, and then there was the pollution and stench from the nearby paper mill. Samoa was somewhat better, and I had and have friends that live there, but still with a lot of downsides. I hope you are right that both places on the spit there are on the upswing. And is that paper mill now closed?
No matter the improvements, I would also caution anyone considering living there long term that these places are particularly vulnerable to raising sea levels from climate change. Even in my time there I saw dunes getting swept away from unusual high storm surges - from the ocean and from the bay (Manila). I am afraid that will only get worse.
@Account Closed
So you lived here in 2005. I really don't see why you are telling me that Manila was a "undesirable" area 10 years ago. I was asked what is happening in these area TODAY. Now if anyone has a question regarding Humboldt or surrounding areas currently, then please feel free to ask. Otherwise, please understand that Humboldt, just like every other Real Estate market, changes and grows.
Oh, and yes. The paper mill closed. A LONG time ago.
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Chris Martin
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
11y
I'll stick with our $41K oceanfront condo.
Don't get your hopes up, though, because owner- wise, there are virtually no west coasters in Onslow county. From researching thousands (probably tens of thousands) of public records, East coast stays East coast... west coast stays west coast. For the off season, you get Vancouver, we get Toronto, Ottawa, Montreal. I'll take that trade;)
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @Colleen F.:

@David Begley Maine does not have 6 months of summer that is for sure. We don't even get that much in MA and RI.
On beachfront if you gave me the choice of California or the Florida keys I would take the keys but that there was something about affordable in the question. California does have better hospitals than FL though. RI has some beautiful spots rocky and sandy beaches and trains and planes, etc. Not cheap but not the most expensive either.
Some more remote places are beautiful but I would want to live a reasonable distance from a few people I know in retirement, not too close and not enough to stay in the cold but a state or a couple away at the most.
LOL! Colleen I went back and read my post and I meant to say 6 WEEKS of summer, being a smart ***, but I guess it backfired on me. I can't even blame that one on autocorrect!
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Matt R.
Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
11y
Maine is the best place on the planet for those 6 weeks. I forgot to mention there are many age 55+ joints dotted along the Cali coast. The discounted prices and value is going to be tough to beat anywhere. How young is 55 today?
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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
You won't catch me arguing that California has the lowest income tax, or business tax rates. For the past 40 years the party in power hasn't seen a fee or tax they haven't felt obligated to raise, with the exception of property taxes! Thanks to Prop 13 enacted many years ago, we hold down property taxes! and not all properties are hit with Mello Roos (none of the projects we are building do)
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David Begley
Investor · Atlanta, GA · Member since 2014 · 415 posts · 299 votes
11y
Originally posted by @Matt R.:

Maine is the best place on the planet for those 6 weeks. I forgot to mention there are many age 55+ joints dotted along the Cali coast. The discounted prices and value is going to be tough to beat anywhere. How young is 55 today?
55 is the new Awesome.
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Account Closed
Las Vegas, NV · Member since 2015 · 84 posts · 8 votes
11y
Originally posted by @Account Closed:

@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.
No HAVE!
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Jean BolgerPro Member
Aurora, CO · Member since 2012 · 2k+ posts · 1k+ votes
11y
Originally posted by @Roy N.:

@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 ;-)
The Maritimes are my definition of awesome. Sailboats in the summer, ceilis in the winter... who could ask for anything more?
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Brandon Rodriguez
Investor · Diamond Bar, CA · Member since 2013 · 60 posts · 28 votes
10y
great information all! Thinking about selling property in SoCal and moving funds maybe to Florida coasts. I noticed some posts of people that were interested in Cabo properties, have any of y'all looked into this? A vacation rental sounds tempting in Mexico, just wondering if anyone has attempted that venture?
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Jose Guevarra
Real Estate Agent · Mira Mesa, CA · Member since 2014 · 218 posts · 49 votes
10y
@Brandon Rodriguez I just came back from San Felipe yesterday. Loved it! Very affordable lots and growing economy there and only 2 hours from US border. I'm going to write up a blog post about my experience soon. message me so I can let you know when I publish it. Let me know if you want to travel down there to look at parcels, I can hook you up!
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
10y
@Jose Guevarra there were some US operators there selling lots big developments not sure if they ever matured.. one was going to have a golf course.
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