Affordable property within walking distance of the Atlantic Ocean

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mrcvs

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Does it exist anywhere? Maine? Even Nova Scotia?

I would even love to have a cottage like that in “On Golden Pond”, looks simple and rustic, and something like that is a fortune.

A bit over 10 years ago, a condo within walking distance of the Delaware Beaches was available for as little as $250k. But that was a lot of money then. Now a tiny one bedroom condo for under $600k seems cheap. Everything exploded since Covid.

So, any ideas/places to look? I don’t really swim, nor does my wife, I just stick my feet in the ocean. I save the fly fishing for streams near where I live.

The amazing thing is about ten years ago, places were a lot cheaper and no one had any money. Since then, places skyrocketed, as did mortgage rates, and folks seem to have all this free cash. I don’t quite know where it all came from?
 
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To give a inland comparison, my Central Ohio condo went from $120K 9.5 years ago to $300K now. I'm not sure which way to figure that but think 250%. That's a little bit more than the Delaware Condo close to the shore increased. Taxes are up 280% and Condo fee is up 190%, now $300 a month each.

Ivan
 
I watched a show on tv last winter about abandoned towns in Northern Canada. Labrador, Nova Scotia region. The govt literally packed up and moved anyone that wanted to leave. Mostly small fishing villages on the coast. I wondered then how one might go about purchasing a property there……. Just googled it. Ghost villages of Newfoundland and Labrador. Apparently there are over 300 such villages
 
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handejector said:
I know people that have walked the entire Appalachian Trail (app 2200 mi), so how far ya talkin bout walkin? :D
Click to expand...

I told my wife that as well. I think she wants to be within a reasonable amount, east of Route 1 in Dewey or Rehoboth Beach, if you’ve ever been to Delaware, for example. I created this thread to see if there’s some place a bit more affordable anywhere.

I first started going to Delaware Beaches with my wife in 2012. At that time, anything was a stretch due to income levels and other obligations. Now, our income is much better, but real estate in Delaware has increased far greater than our incomes.

A place at the beach would be okay…but also likely to create headaches as well.
 
Property values up 100-150% over the past 10 years. Property taxes more than doubled. Homeowner insurance more than doubled.

Our retirement funds have also doubled in value, our investment accounts are up 150%, and the savings accounts have doubled. We are now into Required Minimum Distributions on qualified accounts and even taking the minimums to avoid tax penalties the accounts continue to grow.

I figure it's all just Monopoly money, the numbers don't really mean anything. Better to have it than not, of course, but I've stopped worrying about it so much.
 
mrcvs said:
Does it exist anywhere? Maine? Even Nova Scotia?

I would even love to have a cottage like that in “On Golden Pond”, looks simple and rustic, and something like that is a fortune.

A bit over 10 years ago, a condo within walking distance of the Delaware Beaches was available for as little as $250k. But that was a lot of money then. Now a tiny one bedroom condo for under $600k seems cheap. Everything exploded since Covid.
Click to expand...

I'll let you into a dirty little secret. Many of those homes advertised at reasonable prices in 2014 were not as cheap as the headline price suggested. Past due association fees, property taxes and repairs of damage caused by those being foreclosed on could easily inflate the final bill by 25-30%.
 
Around here, increased flooding and the skyrocketing price of flood insurance, waterfront is losing a lot of it’s luster. My MIL was paying 9000.00 a year for a fairly modest house.
 
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