Running the numbers for a beach house to make it worth it

[Anonymous]

I think that the idea of renting a home in your desired community for a summer is a great idea to see how much you use it. Also make sure your commute to the beach, parking, etc. is as easy as you think it will be. My parents are in Lewes, in the Plantations, so about 5 miles from the beach. We love visiting in the off season because the Delaware beaches are awesome no matter the time of year. But during the summer it is SUCH a pain in the ass to get anywhere by car, and parking sucks, that I highly recommend against it. Granted the longer you go there the more you get to know back roads and as you said going to the beach during off times is easier.

It may not be as awesome as you think it'll be, but what's the harm? If you can afford it, it's a good diversion. The worst that happens is that you rent your place out to recoup investment if you need the money, or you sell it.

Check out the neighborhoods before you go. Some are full of retirees and some have people like you who have a second home at the beach. These dynamics provide a different "feel" to your vacation.

If we were going to buy a home that isn't waking distance to the beach it would be in the five points complex in Lewes. Not only do you have the hoa, pool, tennis and basketball courts, playgrounds etc. but you can walk to the restaurants, shops, grocery store, etc.

[Anonymous]

Rent a beach house that is managed by a property mgmt company. They are big and will fix any issue quickly, since it's not their dime (they bill to the owner) and they have all the staff on-call to fix things right away.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, where are you finding a good house in DE for $300k or less? I was just looking at places in Lewes/Rehoboth and couldn't find anything good near that price. Yeah there are good new builds on the other side of 1, but that's not really a "beach house" IMHO. I would want a beach house where we can walk/bike to the beach vs drive.

OP here. We're not looking for walking/biking distance to the beach, that's just not in our budget. We want new construction or relatively new, within a 10 minute drive of the beach. We don't like being on the beach during the time of day that most people are there anyway, so parking shouldn't be an issue--we'd go early in the morning and go back to the beach house for lunch and naps, then back to the beach after dinner.

There's plenty of inventory under 300K that would work for us. We're looking for a community that includes all lawn/exterior maintenance in the HOA fee and has plenty of amenities in the community, such as a pool, clubhouse, etc.--something completely different than our current SFH neighborhood that has zero amenities, is older and doesn't have the updated features, etc.

I hate to say this but there is no 10 minute drive to the beach in DE. No matter what time during the summer route 1 is a bear! I'd plan 30-40 min in summer.

We own a 2nd home in Rehobrth walking distance to the beach. We park car and don't drive while here, one of the best parts of coming there. Bike, walk, trolley everywhere.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, where are you finding a good house in DE for $300k or less? I was just looking at places in Lewes/Rehoboth and couldn't find anything good near that price. Yeah there are good new builds on the other side of 1, but that's not really a "beach house" IMHO. I would want a beach house where we can walk/bike to the beach vs drive.

OP here. We're not looking for walking/biking distance to the beach, that's just not in our budget. We want new construction or relatively new, within a 10 minute drive of the beach. We don't like being on the beach during the time of day that most people are there anyway, so parking shouldn't be an issue--we'd go early in the morning and go back to the beach house for lunch and naps, then back to the beach after dinner.

There's plenty of inventory under 300K that would work for us. We're looking for a community that includes all lawn/exterior maintenance in the HOA fee and has plenty of amenities in the community, such as a pool, clubhouse, etc.--something completely different than our current SFH neighborhood that has zero amenities, is older and doesn't have the updated features, etc.

I hate to say this but there is no 10 minute drive to the beach in DE. No matter what time during the summer route 1 is a bear! I'd plan 30-40 min in summer.

We own a 2nd home in Rehobrth walking distance to the beach. We park car and don't drive while here, one of the best parts of coming there. Bike, walk, trolley everywhere.

Rt 1 runs parallel to the coast. If you're in Bethany, as long as it's not Saturday morning, you can get in from Ocean View or Millville in 10 minutes, and those prices are applicable. Same thing along 54 into Fenwick/N. OC, Or 9 into Rehoboth/Lewes.

I assumed OP was looking 10 minutes inland.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, where are you finding a good house in DE for $300k or less? I was just looking at places in Lewes/Rehoboth and couldn't find anything good near that price. Yeah there are good new builds on the other side of 1, but that's not really a "beach house" IMHO. I would want a beach house where we can walk/bike to the beach vs drive.

OP here. We're not looking for walking/biking distance to the beach, that's just not in our budget. We want new construction or relatively new, within a 10 minute drive of the beach. We don't like being on the beach during the time of day that most people are there anyway, so parking shouldn't be an issue--we'd go early in the morning and go back to the beach house for lunch and naps, then back to the beach after dinner.

There's plenty of inventory under 300K that would work for us. We're looking for a community that includes all lawn/exterior maintenance in the HOA fee and has plenty of amenities in the community, such as a pool, clubhouse, etc.--something completely different than our current SFH neighborhood that has zero amenities, is older and doesn't have the updated features, etc.

I hate to say this but there is no 10 minute drive to the beach in DE. No matter what time during the summer route 1 is a bear! I'd plan 30-40 min in summer.

We own a 2nd home in Rehobrth walking distance to the beach. We park car and don't drive while here, one of the best parts of coming there. Bike, walk, trolley everywhere.

This. There is no driving to the beach in ten minutes in summer.

[Anonymous]

Anonymous wrote:You can't view owning a beach house a an investment. It's a luxury, period.
We own one (small, not fancy) and we love owning it. But it's how we choose to spend our discretionary income. That's it. It's not an investment. It costs us money each year.

We chose buying over renting because we wanted to be able to pick up and go any weekend. We wanted our retired parents to be able to spend time there (and they would never have purchased the place themselves). We wanted to be able to host other friends there. We wanted to leave our stuff there and not have to cart anything to the beach when we decided to go. Psychologically owning it (vs renting) makes it feel like our haven away from our crazy lives/jobs in DC.

+1

It has to be a place that is special to you, otherwise you won't go. Also, as the kids become more involved in sports, you may end up visiting the beach house at different times than you expected. You will also need someone to keep an eye on the place, at the very least, a caretaker who is there regularly, preferably in the neighborhood.

Walking to the beach is a must, as almost any beach community has cars/parking issues. And who wants to load up the car every time?

It may or may not "cost you money", but having your own beach hose is definitely a luxury.

[Anonymous]

OP here. What do you all think of Sea Colony? Seems to have great amenities and a shuttle to the beach. We'd be interested in the 2-3 bedroom condos/townhouses there and they're within our price range. I'm really impressed by the family friendly amenities they offer. The only thing is that it's not the newer/new construction we prefer, but I think this could be a good option for us.

[Anonymous]

Anonymous wrote:OP here. What do you all think of Sea Colony? Seems to have great amenities and a shuttle to the beach. We'd be interested in the 2-3 bedroom condos/townhouses there and they're within our price range. I'm really impressed by the family friendly amenities they offer. The only thing is that it's not the newer/new construction we prefer, but I think this could be a good option for us.

Lots of people I know like Sea Colony. Only criticism I've heard is that the condo fees are outrageously high. I actually don't know how high, just that everyone I know who owns there complains a lot about it.

Have you looked at Bethany Bay? Further from the beach and no shuttle, but has water front in your price range, has golf, tennis, a pool, etc., and is biking distance from the State Park.

[Anonymous]

OP here. What we're going to do is rent in different beach communities for a week at a time over the next two years, to get a sense of the different communities, and whether or not buying a beach house is the right choice for us. We may change our minds at the end of the two years, who knows.