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Old 02-22-2013, 02:59 AM
 
8 posts, read 36,882 times
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My husband and I are looking to move south. We currently live in central WV, and while the mountain state is beautiful, the cold weather is not! I lived in charlotte a while, and we both love it there but prefer to be closer to the ocean. We are highly eager to move near the coast, but it doesn't need to be directly on the coast. Within 30+ minutes is fine. Small town, where we could have some land would be great. Living on top of the neighbors is not what we want. As we enjoy privacy. We are first time homebuyers, therefore we aren't looking for the high price range. While $150K is affordable to many, it's not for us. Also, any homes that could potentially be turned into a B&B would be great!!! That's our ultimate dream/goal. Any help will be greatly appreciated!
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Old 02-22-2013, 06:14 AM
 
Location: Sneads Ferry, NC
11,250 posts, read 19,764,244 times
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I've suggested Maple Hill and Burgaw to others, maybe Richlands. I am doubtful you will find a property large enough to turn into a B&B for $150K, unless it was a total wreck. However, you can find an older rancher on a couple acres for that price. Richlands is a little further from the coast, but all three towns are in driving distance of Jacksonville or Wilmington.

This is a resource for finding Historic properties for a B&B: http://www.presnc.org/index.php?opti...sk=showCE&id=9 There's a place in Edenton, which might work, but it needs complete renovation.

Have you thought about where you would find jobs?

Last edited by goldenage1; 02-22-2013 at 06:35 AM..
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Old 02-22-2013, 07:02 AM
 
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Just to note that you said $150K is "not" affordable. This is a tough one...I'll try to see if I can find a way to accommodate your wants on $100K...not sure it is even possible but let's see.

B&B's are usually some of the most significant houses in cities and therefore justify people wanting to stay "there". Downtown Wilmington is loaded with them. And most of the beach communities would have a couple. In order to accommodate your desire to operate a B&B, you will have to stay off the coast and look at markets that actually have a "need" for suitable overnight stays. Fortunately, there are a few options.

You indicated small towns that are safe. One thing about the south is that, no matter where you go, towns are predictable. The towns in Eastern NC are very much like this. The one's with the best Historic district type elements are going to be the one's that function as the "county seat"...i.e...a courthouse. This is where the lawyers and other professionals built their homes a long time ago...these are the type of homes you are looking for in a B&B. Going through the list of County seats near the coast will give you your options...Burgaw, Whiteville, Elizabethtown, Kenansville, Trenton, Windsor, Hertford, Columbia, & Swan Quarter are all small town's within 30-45 minutes of the coast or sounds that fit this criteria. Research whether a place has a B&B...I believe Windsor has one, Whiteville has one and Kenansville may have one. You can get a home for 100K in these places in a good neighborhood, but you are looking for the "exact" right location....because it would be your business and location is everything with that. Just to note, I actually think there is a market for B&B's in these small towns...there is a big push for designating most of eastern NC a "natural heritage" area and these are the towns that will support that designation that are underutilized right now.

Obviously if you are looking at operating a B&B, you must be OK with doing home repairs/furnishing, etc...as well as preparing meals. With a small budget, you should be looking at more of the middle class clientel, which again, I think there is a market for. All up and down the coast there are B&B's but not many affordable B&B's and in many of these smaller "just inland" county seats there is no place to stay besides a old local motel that was built in the 1950's and never gets updated. Check Realtor.com for potential listings of houses, but also keep in mind that many of these smaller, rural areas don't list on a national website, so you may have to call a local realtor for potential units. In terms of location, the general rule of thumb should be for it to be located as close to the courthouse as possible, because most of these towns were built around the courthouse. I have left off places like Washington, Edenton, Beaufort, Southport, Swansboro & New Bern because they already have a number of established B&B's...Jacksonville is not really a historic city and has all of the chains...

If you have a question about a particular town, post back here.
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Old 02-22-2013, 07:28 AM
 
Location: Sneads Ferry, NC
11,250 posts, read 19,764,244 times
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HP91 is offering good advice about the towns to look at. If you want to renovate an old historic place, expect to spend at least to renovate as your purchase price. Even if you did all the work yourselves, purchasing lumber and wiring and fixtures will get expensive. You might also look up recent comments on Preservation NC in a Rocky Mount thread, as they are very strict.

I assumed you planned to have a day job initially, and work on restoration on the side.
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Old 02-22-2013, 07:52 AM
 
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I think you could find a lot of properties in Hampstead that would be acceptable...you wouldn't be able to find anything for a B&B at that price, however....but if you go to the popular realtor listings on the internet and look at the homes in your price range, you might find something acceptable... Sneads Ferry might also be a nice place for you to call "home"....
Good luck with your search...
You don't mention whether or not you or your spouse need to have jobs? If so, that might make both of the options above a bit more difficult unless you are willing to take positions in retail, groceries, restaurants, service industry type jobs....
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Old 02-22-2013, 09:40 AM
 
Location: Sneads Ferry, NC
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I agree with the PP. There are plenty of houses in Sneads Ferry under $150K, but the lots are usually a quarter or third of an acre. Most of the jobs here are service industry jobs.

I also saw a Victorian house listed in Williamston for $159.5K. It might be large enough for a B&B. Williamston is on the route to the Outer Banks, and is about an hour and 45 minutes away from beaches.
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Old 02-22-2013, 10:00 AM
 
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Wow! I appreciate all the responses!!! You've all been extremely helpful! I wanted to add, the B&B goal can completely be further in the future. My husband and I are in food service, I am an alumni from Johnson & Wales and have a personal chef business here. I'm planning on transferring the business when we move. If we could find a home inland with a chunk of land, we can always build, renovate, etc in the future. We just wanted to find something that offered the option at some point.
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Old 02-22-2013, 10:01 AM
 
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Quote:
Originally Posted by goldenage1 View Post
I agree with the PP. There are plenty of houses in Sneads Ferry under $150K, but the lots are usually a quarter or third of an acre. Most of the jobs here are service industry jobs.

I also saw a Victorian house listed in Williamston for $159.5K. It might be large enough for a B&B. Williamston is on the route to the Outer Banks, and is about an hour and 45 minutes away from beaches.
Just to note...I didn't list Williamston because it has brand new Holiday Inn Express and Hampton Inn's as well as some older local motel/hotels like a Days Inn and Econo Lodge....these places never get filled so there may not be much of a market for a B&B in Williamston, although with the right house, you never know. Williamston is at the intersection of two major highways from Raleigh to the Outer Banks to Tidewater Virginia.
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Old 02-22-2013, 10:13 AM
 
2,398 posts, read 3,352,813 times
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Quote:
Originally Posted by ThChef929 View Post
Wow! I appreciate all the responses!!! You've all been extremely helpful! I wanted to add, the B&B goal can completely be further in the future. My husband and I are in food service, I am an alumni from Johnson & Wales and have a personal chef business here. I'm planning on transferring the business when we move. If we could find a home inland with a chunk of land, we can always build, renovate, etc in the future. We just wanted to find something that offered the option at some point.
If that's the case where a B&B would be a side job and you are looking to be a personal chef somewhere, I'll make a detailed suggestion. The rural historic towns may be a good option for a B&B, but you need a more urban option for your personal chef...here's a combo deal.

I would suggest the Historic District of Washington. I'll give you an example...


413 E Main St Washington NC - Home For Sale and Real Estate Listing - MLS #106265 - Realtor.com®

Note the other nearby homes for sale on the link as well.

A house in the Historic District listed for 100K a block from the water and a few blocks from downtown. What is nice about Washington is that it offers a lot of possibilities beyond the B&B. You have higher income/retired folks that live up and down the Pamlico River, in Washington, Bath, Cypress Landing, etc...and Washington is only 30 minutes from Greenville, where business could expand to there. If you stay in the Historic District from 3rd Street to the water, it is plenty safe and on higher ground where it doesn't flood as other parts of Washington do. You are on the water, what they call the Inner Banks...takes about an hour and a half to get to the beach.

Note that you said you didn't want to live on top of neighbors...its going to be tough to find property (land) as well as a home that can be converted, because both have costs involved to them...the more land the more cost. The closer to the water the more cost as well.

Be extremely careful about buying land in the rural part (outside of a town) of eastern NC...there is not much zoning restrictions in place and the landscape is littered with manufactured housing as a result. It can be a free for all in the rural areas because there is no enforcement even if there is a mobile home ordinance or junked vehicle ordinance in place and many counties don't even enforce their minimum housing code. I say stick to the towns and adapt to the neighbors and the environment.

Last edited by HP91; 02-22-2013 at 10:32 AM..
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Old 02-23-2013, 06:42 PM
 
Location: Eastern NC
264 posts, read 776,729 times
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I know of a few families that have bought old victorian homes that needed work for well under $50,000 in downtown Plymouth. I saw the before and after of the homes and they got an incredible deal. The homes are now beautiful. Of course the reason they got the homes so cheap is most folks don't want to live in Plymouth. For those that don't like debt but want a really nice home Plymouth may be an option. The Mayor came to their home and welcomed to town and said they were working hard to change the town. Most will scoff and tell you the town is dying.
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