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Old 09-12-2013, 11:22 AM
 
562 posts, read 935,758 times
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Quote:
Originally Posted by touro1979 View Post
So are there condos in the 100k to 130k price range in great neigborhoods in Wilmington? Not to be a snob but I live in a fairly affluent area where everyone is upper middle class and up and would like to buy a condo in a similiar soci-economic environment. Any particular zip codes to look at when doing real estate searches online? Hard to look at condos on the internet, the realtors make sure they dont get any of the stripped cars on blocks or graffitit everywhere in the shots lol.
We have diligently looked for two years for future retirement to NC - we bought a lot in Ocean Ridge plantation (but they don't have condos) but let me tell you there are TONS of 'plantations' which is what they call developments in Brunswick County - within 10 minutes of a beach - and many are going for $100,000 ish. When you get on www.carolinaplantations.com and click on 'condos for $75,000-$100,000 you get these results:
This is "Brunswick County" which also has cheaper taxes than the wilmington area which is 'hanover county'. we are, so far, very pleased with this area. we visit several times a year and i have not regretted buying land here yet. check out those condos in the above list. good luck and keep reading this site. i found so much valuable information here in city-data!!!!
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Old 09-12-2013, 12:07 PM
 
Location: Raleigh, NC
10,403 posts, read 19,464,619 times
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Quote:
Originally Posted by movedtothecoast View Post
If you are looking in the 100k to 130 k range for a condo
I really don't see how you expect it to be located in
an affluent , upper middle class area?
THIS. I think OP's visions of exactly how cheap NC is are off-base, particulalry on the coast or near golf courses.
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Old 09-12-2013, 12:23 PM
 
Location: Sneads Ferry, NC
11,292 posts, read 19,859,028 times
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Quote:
Originally Posted by touro1979 View Post
So are there condos in the 100k to 130k price range in great neigborhoods in Wilmington? Not to be a snob but I live in a fairly affluent area where everyone is upper middle class and up and would like to buy a condo in a similiar soci-economic environment. Any particular zip codes to look at when doing real estate searches online? Hard to look at condos on the internet, the realtors make sure they dont get any of the stripped cars on blocks or graffitit everywhere in the shots lol.
The condos in Wilmington in the 100K-130K are likely to have young singles, a few young families and some retired folks. They are not likely to be "affluent", but they won't be trashy either. The genuinely affluent folks will live in single family houses, not condos. I have ridden around in a few of these condo developments looking for a place I might live if I were widowed. They are generally clean and well kept. The one which do upkeep on the outside will typically have condo fees of at least $180/month. I was interested in 28403 and 28412 on a bus line, especially the Breezewood condos and the one-story townhouses on Merestone Drive. However, if you want to be closer to the beaches, look in 28409 and 28428.

Last edited by goldenage1; 09-12-2013 at 12:46 PM..
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Old 09-12-2013, 02:44 PM
 
2,401 posts, read 3,372,827 times
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Well...I took it this way.

Affluency is a relative term.

This is someone from upstate NY...not NYC. For example I know affluent people that live in the best neighborhood in towns in eastern NC...their houses are worth about 200K at best....which is a run of the mill neighborhood in Raleigh.

I got the feeling that OP's version of "affluent" wasn't meant to be the best neighborhood in Wilmington (or he would have been looking for something right on the water). Most of Wilmington is nice...and safe...and certainly the links I posted were, IMO, at least.
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Old 09-13-2013, 07:28 AM
 
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Yea Affluent in my area is where peoples household incomes are over 90K, we live like kings lol. Would live like a pauper in NYC. The median income in my area is 38K and my income is in the higher end as mentioned above. Gives us upstate folks a false sense of feeling wealthy lol.

I will post up in real estate section about buying a condo before retirement to see what those folks think. My thinking was that I dont want a mortgage in retirment, nor do I want to withdraw a boatload of money from 401k to pay for a condo. I intend to keep my house in NY and only live in down south for part of the year once retired, probably a 50/50 split so I wont have proceeds to buy condo from sale of house. Thats why I thought it would be nice to buy a place 15-20 years before retirement and have it paid off by the time I retire. I probably could afford upwards of 200k for a condo but I dont want to spend that much money on 2nd home. Thanks for the all info, been very helpful. Thinking of taking vacation to wilmington area this comong spring to scout it out. Not in market for about 5 years but want to start looking for areas now.
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Old 09-13-2013, 07:34 AM
 
Location: Sneads Ferry, NC
11,292 posts, read 19,859,028 times
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Quote:
Originally Posted by touro1979 View Post
Thats why I thought it would be nice to buy a place 15-20 years before retirement and have it paid off by the time I retire. I probably could afford upwards of 200k for a condo but I dont want to spend that much money on 2nd home.
Thanks for the explanation. If you run the numbers, counting the condo fees, taxes and insurance, I'm not sure it's worth it. If you bought a place at the beach which is rented out during the summer, it might cost you a lot less. The general rule is, you can't expect to make money with a beach place. At any rate, it is good to plan ahead.
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Old 09-14-2013, 04:30 AM
 
2,401 posts, read 3,372,827 times
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Well...an argument can be made for it if you use it about a month out of the year before retirement...how much do folks spend on a vacation?

So you vacation in Wilmington and the place you own holds its value. Yes you have to pay taxes, insurance, and fee's....but that's what you would have spent on staying somewhere anyway. Folks shell out $5K or more a year on frivolous vacations all the time....at least it isn't throwing money away, but protecting your investment.
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Old 09-14-2013, 02:46 PM
 
2,361 posts, read 2,670,640 times
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503 Cypress Ln, Manteo, NC 27954 - Zillow
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Old 09-14-2013, 08:23 PM
 
Location: Phoenix, AZ > Raleigh, NC
15,119 posts, read 19,102,507 times
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Quote:
Originally Posted by goldenage1 View Post
The condos in Wilmington in the 100K-130K are likely to have young singles, a few young families and some retired folks. They are not likely to be "affluent", but they won't be trashy either. The genuinely affluent folks will live in single family houses, not condos. I have ridden around in a few of these condo developments looking for a place I might live if I were widowed. They are generally clean and well kept. The one which do upkeep on the outside will typically have condo fees of at least $180/month. I was interested in 28403 and 28412 on a bus line, especially the Breezewood condos and the one-story townhouses on Merestone Drive. However, if you want to be closer to the beaches, look in 28409 and 28428.
But what does the crystal ball say about what these places will be in fifteen years when the OP intends to retire? I'd suggest keeping that money in a good, viable investment account instead of a condo that will have who-knows-what value fifteen years from now, especially after all those renters are finished with it.
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