Questions about buying a house in Oriental (New Bern, Havelock: rental, insurance)
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I am looking into buying a vacation property in Oriental but I am not familiar with the area at all. I like the property as it is on the water and has decent view. My wife does not like it much and insists on buying a condo in Beufort which was just visited and really liked it.
I understand Oriental is much smaller town with not much of anything. But that is what I like about it (also the price tag for Beufort is much higher).
Some of my questions are:
-Do people swim in the water in Oriental summer time? How about water sports?
-How safe is it? I will be leaving the house empty for quite some time. Are break-ins common?
-I was told the garage was flooded in 2018 but water didn't make it to first level which sits pretty high. Any concern about the flood? Agent told me flood insurance costs about $500 a year. Is that a once in a blue moon thing or more common?
-How much does it cost to build a dock with a lift for a small fishing boat?
-How bad does it get in summer? I assume there will be no breeze on the river.
I appreciate any feedback or advice as I am clueless about life in a costal town.
I am looking into buying a vacation property in Oriental but I am not familiar with the area at all. I like the property as it is on the water and has decent view. My wife does not like it much and insists on buying a condo in Beufort which was just visited and really liked it....
I am astonished that anyone would contemplate buying a property in a place they have never visited. The main reason people live in Oriental is sailing. It is known as the sailing capital of North Carolina, so that should be part of the decision process. There is a town beach where they mention wading, but not swimming.
I can't answer any of your other questions, but I do suggest you visit there before making a decision. VRBO has has numberous rental houses by the day, many of them cute cottages. Examples here: https://www.vrbo.com/search/keywords...Included=false
If you are looking for earning rental income, I suspect you would have better prospects in Beaufort, as it is close to the ocean and better known as a vacation spot. If the purchase is just for your own use, then experiencing the isolation in Oriental is important to see whether you like it. Convincing your wife may be difficult. Personally, I would vote for a condo in Beaufort, as there are more things to do.
Last edited by goldenage1; 11-28-2020 at 01:31 AM..
I have visited the place. The questions I have posted are not easy to answer by few visits or at least not for me.
I have read any posts here that mentionsOriental.
-I was told the garage was flooded in 2018 but water didn't make it to first level which sits pretty high. Any concern about the flood? Agent told me flood insurance costs about $500 a year. Is that a once in a blue moon thing or more common?
I appreciate any feedback or advice as I am clueless about life in a costal town.
Oriental is quite low elevation (with exceptions) but most properties there tend to have the possibility of flooding.
Oriental is a quaint little town with many sailing enthusiasts and retirees. Most people I have met who live there seem quite happy with their choice. The main complaint I have heard from any of them is the distance they must travel for shopping or medical services (about 30-45 minutes to the New Bern area). Oriental has a Piggly Wiggly grocery store, but beyond that you will likely have to travel to Grantsboro (20 minutes) for a WalMart, Food Lion, or Drug Store. I have never heard anyone from there complain about crime, so I assume that is not a major issue.
There is also a free digital community newspaper which you may find helpful in learning about the area: https://towndock.net/
Beaufort, hands down. I love Oriental, but there is almost nothing to do down there. This past September, we visited Atlantic Beach, Morehead City, and Beaufort for the first time in 20 years -- I was amazed at how much those areas have grown.
I guess it depends on the kind of lifestyle you're seeking, because I think the two areas are polar opposites.
...... I love Oriental, but there is almost nothing to do down there. This past September, we visited Atlantic Beach, Morehead City, and Beaufort for the first time in 20 years -- I was amazed at how much those areas have grown......
In comparison, Oriental has lost population since 2000. That is not a good sign if one expect the property to appreciate.
I was told the garage was flooded in 2018 but water didn't make it to first level which sits pretty high. Any concern about the flood? Agent told me flood insurance costs about $500 a year. Is that a once in a blue moon thing or more common?
Global warming is rapidly causing low elevation coastal areas (like Oriental) to experience significantly more flooding, including so called “sunny day flooding”. No longer will it be an occasional “once in a blue moon event”. And flood insurance rates will increase dramatically in order to reflect this new reality in the coming years. Look at what happened to New Bern, with Hurricane Florence two years ago, as an example.
Flood zone maps reflect historical data and are not updated frequently enough to reflect the current changes caused by global warming.
SIL just bought a place in Havelock. Flood insurance? Yeah, $2700....
Moving forward, it’s going to be much harder to obtain a mortgage in areas deemed to be prone to flooding or wind damage; conditions exacerbated due to the effects of global warming. Banks are already recognizing the increased risks, and there’s no doubt that a new Democratic government will take global warming much more seriously. Insurance rates will increase sharply. Cities like Charleston, SC are developing plans to build protective walls around portions of their city, and you will see more and more of this.
If conditions develop as predicted, property values in coastal areas will significantly decline.
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