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Old 05-17-2015, 03:28 PM
 
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We would love some advice from local residents on the NC coast!

My husband and I have 3 years until retirement. We are looking at the NC coast to purchase a small single family home under $150,000. We are interested in purchasing now to take advantage of low interest rates and would need to put renters in until we're ready to relocate.

We looked at New Bern but the rental market is saturated with vacant homes.
How is the rental market in Wilmington? Leland? Any other favorable coastal suggestions?

We'd like to find a nice community that rents easily and would also be somewhere we can look forward to retiring to.
Any thoughts would be much appreciated!!��

Last edited by Jit725; 05-17-2015 at 04:05 PM.. Reason: Title
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Old 05-17-2015, 04:51 PM
 
Location: Sneads Ferry, NC
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Quote:
Originally Posted by Jit725 View Post
How is the rental market in Wilmington? Leland? Any other favorable coastal suggestions?
I'd suggest targeting the military market at Camp Lejeune. People are re-assigned every 2 to 3 years so there is always a demand for rental houses. Try the towns of Swansboro, Hubert, Beaufort, Cape Carteret, Sneads Ferry, Holly Ridge and Surf City. They are all commutable to Camp Lejeune, but offer a pleasant living experience for your future retirement neeeds. The $150,000 price is the low end of the market but there should be many small ranch houses or duplexes available.

Southport, Leland and Wilmington are other options. They are would have a civilian market of young families, people waiting for homes to be built, etc. The price is low, but there should be older ranch houses, and newer townhouses in that price range.
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Old 05-17-2015, 09:06 PM
 
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One of our favourite areas is Carolina Shores in Calabash, NC. A smaller, older established community with an on site golf course and very close to Sunset Beach.

The small downtown has some quirky shops, "Calabash Seafood" and a small dock where you can purchase fresh caught seafood off the boat.

Carolina Shores is a small incorporated town and might offer you the real estate you are looking for.

Good luck!
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Old 05-18-2015, 05:56 AM
 
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Have you looked into anything near Havelock? Cherry point air station is there.I just purchased a home in Fairfield Harbour in New Bern but I don't have city of New Bern utilities.My home was a long term rental but was redone before it went on the market.I purchased it for 130.
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Old 05-20-2015, 03:31 PM
 
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Just a word of caution if you buy a place in the Wilmington area with the intention of renting it out for a few year before you move in: there are tons of college kids here who rent houses and you have less-than-even odds that, if you rent to them, your tenants won't trash the place. I've seen some college student renters who were wonderful, responsible people, but they're exceptional.
I have no experience with being a landlord, but if there's a legal way you can exclude students, I would strongly suggest you use it.
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Old 05-21-2015, 07:40 PM
 
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THANK YOU goldenage1, jerseyj, gjjb1953, Bill Hitchcock, HP91, BarLatGo!!!

Your advice is much appreciated! We have our work cut out for us, but made a bit easier with input from folks like you!
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