Acquiring a Permanent Vacation Destination

Transitioning Snowbirds

Growing up in Northeast Pennsylvania, the summer provided the opportunity to make our family’s annual pilgrimage to the shore. We enjoyed all the great things about the Jersey shore (Atlantic City, Wildwood, Ocean City, and Cape May) that make it a wonderful vacation spot. After a brief vacation, we returned home to once again wait for next summer’s event.

Realizing the unique culture a beach community affords, my wife and I plotted our strategy to live in a pleasant beach community with cultural activities. So we waited until our kids were finished with college and embarked on acquiring a secondary home in a beach community. Since the Jersey Shore real estate was/is generally expensive with limited year-round weather, we looked at emerging areas with improved weather year-round. During vacations we periodically visited North Carolina (Wilmington) where we had family. This led to our first property acquisition in 2003, followed by our second acquisition in 2005.

The property values were and are still quite reasonable in contrast to popular shore points in Jersey. Couple that with mild winters and you get the best location between Jersey and Florida. One of the key elements of affordability was renting our beach property as a weekly/monthly rental. Rentals covered a significant portion of the mortgage and additionally allowed vacation travel expenses along with standard deductions for interest/depreciation and taxes. Presently, the top 100 market analysts are projecting real estate will appreciate by about 4 percent every year for the next 5 years. This will sweeten your investment as you build equity while simultaneously enjoying the property.

Oh, by the way, the second vacation home we flipped and paid off our kid’s college educational expenses. Then in 2011, we finally made the transition to Kure Beach, North Carolina as a permanent residence.

As snowbirds familiar with the Wilmington area since 1987, we have seen the area grow and develop into a great residential setting with wonderful beach activities. If you ever wanted to pick a great location to find a secondary home or retirement beach home, Intracoastal Realty has the resources to make a smooth the transition to a vacation destination or equivalently full-time residence. This is a place where you can be sure your grandkids will visit. Sun, sand, and surf bring out the surfers, boaters, swimmers, kayakers, sun bathers and cyclists.

Article By:

Ed Thear (see profile)
Broker/REALTOR with Intracoastal Realty
edthear@intracoastalrealty.com
910-458-2075

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