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Hi all. We are looking to purchase a beach/shore property. We've narrowed it down to margate or brigantine, NJ as best fits. We've looked at properties (with an agent) within 3 blocks or closer to the beach/water but really don't have intimate knowledge of either town. We are looking at it as a financial investment (but not to rent or use as a rental/investment). Our only criteria is close to the beach, which both cities offer. We are aware of the Sandy issues and homeowners insurance and will do our due diligence on a property. Any feedback that could help me make a better, informed decision? Thanks
I'd choose Margate. While Brigintine is a nice town, it feels a little isolated to me. Sometimes that's a good thing, and sometimes it just means that you have to drive further to go somewhere else. I've heard that there is is a problem with Greenhead biting flies because it's near the wildlife refuge.
You say you are aware of the Homeowers insurance issues.
Are you aware of the Flood insurance issues?
If you will be getting a mortgage, you will need both.
Flood insurance rates have jumped and will go higher due to the Federal government stopped subsidizing the insurance.
Not directly due to Sandy, directly due to Congress and FEMA re-drawing the flood maps
Thank you both for your posts. Yes, I guess I should have said that I'm aware of the elevation certs regarding flood areas which is everywhere on the island. My insurance company doesn't write any business within 5 miles of water but did refer me to an insurance broker who does. I like both brigantine and margate areas; I'm kinda leaning towards margate though. Brigantine does offer one way in-one way out which can be a double-edged sword. I'm still trying to put all the pieces together since it's so different than a regular house purchase. I'm open to all advice.
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