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Old 08-17-2016, 09:15 PM
 
Location: Wilmington, NC
129 posts, read 106,936 times
Reputation: 98

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Originally Posted by missynancy View Post
20 Coral Drive W, Brick NJ, 08723 - taxes are $6500 a year, on a canal, but that'ss not including the expensive Flood Insurance premiums that have occurred after Super Storm Sandy. Price of this house is only $325,000 ish. Jersey is way too expensive which is why we are moving to coastal NC soon.
Yes, we would be looking a little bit more inland to avoid the flood insurance premiums. Do you know if all areas are required for such insurance after Sandy?

Are you moving down to NC to retire? I wish you well on your new chapter! We have lots of family and friends in NJ, it would be nice to be around them rather than alone and isolated like we are now.
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Old 08-18-2016, 10:41 AM
 
562 posts, read 931,220 times
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Originally Posted by beachbuminAZ View Post
Yes, we would be looking a little bit more inland to avoid the flood insurance premiums. Do you know if all areas are required for such insurance after Sandy?

Are you moving down to NC to retire? I wish you well on your new chapter! We have lots of family and friends in NJ, it would be nice to be around them rather than alone and isolated like we are now.
I believe all federal flood insurance rates went up after Sandy - anyone confirm this for me?? - yes, we are retiring in Ocean Ridge Plantation, and have friends already living there (4 couples) - but I am going to miss my adult children and grands....but, only 9 hours away so I plan to drive up every 6 weeks or so...not a bad commute....sure beats the hour and a half sometimes it takes me to go from Mt Laurel to Princeton every day to work!! LOL
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Old 08-21-2016, 04:29 PM
 
Location: Leland, NC
54 posts, read 38,825 times
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Quote:
Originally Posted by missynancy View Post
I believe all federal flood insurance rates went up after Sandy - anyone confirm this for me?? - yes, we are retiring in Ocean Ridge Plantation, and have friends already living there (4 couples) - but I am going to miss my adult children and grands....but, only 9 hours away so I plan to drive up every 6 weeks or so...not a bad commute....sure beats the hour and a half sometimes it takes me to go from Mt Laurel to Princeton every day to work!! LOL
We are in Old Bridge, NJ property taxes just raised to $7K on our 4 BR home that we hope to sell for $310K. No flood insurance since we are not on the shore, but regular homeowners has steadily gone up is now around $1K/yr. Don't forget car insurance is also among the highest, we pay $5.6K/yr for 4 older cars.

Retiring a year from now, we just bought in Brunswick Forest. Our ONLY regret is being further from the kids.
As you said, a long drive every few months will be a nice adventure... but I feel that they will be more likely to take the drive to us.
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Old 08-21-2016, 06:10 PM
 
2,399 posts, read 3,354,053 times
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Quote:
Originally Posted by missynancy View Post
I believe all federal flood insurance rates went up after Sandy - anyone confirm this for me?? - yes, we are retiring in Ocean Ridge Plantation, and have friends already living there (4 couples) - but I am going to miss my adult children and grands....but, only 9 hours away so I plan to drive up every 6 weeks or so...not a bad commute....sure beats the hour and a half sometimes it takes me to go from Mt Laurel to Princeton every day to work!! LOL
Flood insurance rates for NON-COMPLIANT structures went up. Based on the finished floor elevation of the house. They were previously grandfathered. Now they are able to go up 25% a year until they hit the cost to insure. New policies (if you buy a house that is below Base Flood Elevation) will start at the cost to insure rate.
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