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Carolina Condo's
Old 01-01-2009, 09:15 AM   #1
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Carolina Condo's

Hi,

Anyone have advise on where to buy a condo in the Carolina's? In about 10 yrs we want to retire to a more pleasent environment. We are in Mass now and it's 2 degrees out and snowing. We defintily want to be around water/parks etc.. No crouds or noise(no M. Beach). We are figuring now is a good time to start looking as the housing market is depressed.

Thanks

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Old 01-01-2009, 11:35 AM   #2
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Morehead City, NC
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Old 01-01-2009, 12:32 PM   #3
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Morehead City, NC
Good choice considering it has had an annual appreciation rate of 12.31% over the last 18 years, 10.42% over the last two and 7.91% over the last 12 months. Waitaminnit, what bubble?

Looks like $180,000 will get you a pretty nice place and chances are good it will be worth close to $400,000 when you're ready to retire in ten years.

4% Appreciation My *ss!
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Go West(ern NC)
Old 01-01-2009, 02:48 PM   #4
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Go West(ern NC)

I can't complain about the eastern part of NC too much but having lived my entire life in western North Carolina, give the Asheville area a look.

Four distinct seasons with none too extreme.

Shameless Plug Alert:
Also checkout where I work: The North Carolina Center for Creative Retirement. It is part of the University of North Carolina and is located in Asheville.

Shout if you have questions.

Mike Honeycutt
honeycutt@unca.edu
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Old 01-01-2009, 02:51 PM   #5
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Asheville is very nice and a growing retirement area. However, it might (or might not be?) fairly cold through the winter.

Along the coast of NC, I also like the Southport area. It's pretty with loads of water activities. Of course, you've got to keep in mind that along with proximity to the NC coast comes the occasional risk of hurricanes...

Charlotte
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Old 01-01-2009, 08:05 PM   #6
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Do you want water or mountains?
We are on Kiawah Island, SC, right now. This week the temperature varied between 68 and 42 F.
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Outdoor activities
Old 01-02-2009, 08:29 AM   #7
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Outdoor activities

Hi,

Thanks for all the replies. Seems like the best choice for us is trying to find something in a protected harbor or river leading to a harbor. A really nice river may do the trick as well. I talked with a realtor yesturday and she warned me to stay away from oceanfront property, stating the constant turnover of occupents due to people renting out their condo's/houses. I am now focusing on the more established area's. Looks like Charleston SC is nice as well.

Do any of you live in condo's? - can you list the things that I should watch out for - so far all my education has been on the negative side, bad neighbors, fees constantly increasing etc...

Thank you
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Old 01-03-2009, 08:47 AM   #8
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How's the road and mountain biking scene around Asheville? When the Tour Dupont was still being held, Phil Liggett said that the roads in the Carolinas are some of the best for road cycling. I never verified any of this personally. I have not seen good cycling scene since leaving Colorado.
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Old 01-03-2009, 11:42 AM   #9
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I live (mostly) in Carolina Beach. I suggest you look in a 10-15 mile radius of Wilmington. If you want to stay clear of the beach (hi taxes, hi insurance, hi everything) there are nice condos and houses for sale everywhere. Take a winter or spring vacation and go see for yourself.

Depending where your family is and general travel preferences, be careful that you don't get too far off the beaten path. Some retirement locations can be hours from the nearest airport or interstate.
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Old 01-05-2009, 07:26 PM   #10
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Nothing to do with the Carolinas, but we are in a waterfront condo on the coast of CT. I love the winter actually - really beautiful on LI Sound. With regard to buying a condo, I would buy something that is at least the same price or more than a SFH - that way, the people are there because they want to be, not because they can't afford anything else. I would make sure that there are at least 100 units, they are not self-managed (too much room for shenanigans), the management company is licensed with the state, and ask about special assessments.
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Old 01-05-2009, 07:37 PM   #11
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Another thing - with more than 100 units, you have the opportunity for things like a social life, like happy hour, bbqs, you have a bigger pool of people to meet. And, therefore, a bigger pool of talent (accountants, lawyers, doctors, etc.) to serve on the board of directors.
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Old 01-06-2009, 08:26 AM   #12
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Check out Day Beacon on the inner coast, close to Bath. Seems like a good deal, $234 to 350K for waterview or waterfront 1250 sf condo that includes a boat slip. I live in Chapel Hill, NC which is nice and have owned a condo on Kure Beach,NC since 1998, which is on the other end of Pleasure Island from Bum's place. I would consider Day Beacon if I could sell my oceanfront place. Insurance and Property Taxes have both quadripled over the last 5 years.
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Old 01-06-2009, 09:35 AM   #13
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New Bern, NC perhaps? They have a gentrified downtown with at least one new condo development I know of (I believe it is affiliated with the Sheraton Hotel and Marina downtown. Looked pretty swank last I was down that way. Not sure if it is open for business yet, but I think it is being marketed as a "Sail and Stay" kind of condo development. Park your boat/yacht at the adjacent marina, and then stay for a while in your condo. About a block from Tryon Palace, North Carolina's first colonial Governer's Mansion (way back in the 1700's).

I'm sure New Bern has other condo developments that might suit you. And I have worked on a few recently in the design phase, so they should be coming online in the coming years (maybe).
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Old 01-06-2009, 10:12 AM   #14
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SC is definitely on my list of places to live when I retire........
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Old 01-06-2009, 03:17 PM   #15
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We have a condo on Oak Island, south of Wilmington. Yes, the maintenance fees are high and insurance 9 particularly flood is high. It is certainly NOT amyrtle beach, very quiet, almost boring. Come on down........
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Old 01-16-2009, 02:01 PM   #16
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Thanks everyone for your insights. My SO and I have really thought about this and would rather rent places for a couple of months each year. Kinda the Globe trecking thing. When you add up the price of a second home & include all expences - its really a better option. We live in Mass and intend to use that as our base - no debt and reasonable property tax's(in our town). We intend on renting places for 3-6 months at a time - renting an apartment gives us so many more options, the next year it may be Montana - who know's!

Cheers all!
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Old 01-17-2009, 04:22 AM   #17
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We have a condo on Oak Island, south of Wilmington. Yes, the maintenance fees are high and insurance 9 particularly flood is high. It is certainly NOT amyrtle beach, very quiet, almost boring. Come on down........
Do you happen to own one of the Oak Island Beach Villas? We used to vacation there in the late 1980's/early 1990's. The condos were selling for approx $75K back then. Now I see they are selling for approx $300K. We used to love vacationing there, because it was so quiet, and the beach was beautiful!
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