The Expert Podcast

Of course, everybody wants to live near the water. So in this episode of Homes Cheap, we are going to visit a dozen houses around the country that are in coastal communities, a city on the water, and almost all these are going to be on the ocean. There's one that we saved as a sneak peek that's on one of the Great Lakes, but everything else is on the ocean. We're going to take a clockwise tour from Maine to New England to the Carolinas to Florida to the Gulf Coast, even California and Washington State.

We’re looking at houses in coastal communities all under $200,000, and one of them is actually new construction — it's a brand new house for under $200,000. So let's get started with some coastal community houses under 200. Here’s one that is an interesting house, starting very quickly in the Great Lakes, the only one that’s not on the ocean. This is Sheboygan, and it's a cool little house, 1,500 square feet, decent interior. Matter of fact, it’s got even a floor plan. It’s not a brand new house, but it’s not a beat-up old house either.

Very livable, people are living in it now. And remember, the idea of these homes is not necessarily to have this big house that you go out and buy this particular house. The idea is that it shows you that homes that are $200,000 or less are available in every part of the country, in every geographic area, and also every type of house. These are coastal community houses. We've done waterfront houses, we've done houses with acreage, houses with four and five thousand square feet. So the idea is to show you what's available.

And in one of these descriptions, we'll see how it compares to renting and how it is an advantage for life even if you don't buy a house on the coast — even if you buy a house inland that's $200,000 where you can have a $1,000 a month mortgage that's fixed, it's never gonna go up. So here’s the first one starting in Maine: not a huge house, 1,000 square feet, but it’s a 3-1 in Ellsworth, Maine, which is a coastal community if you like that part of the country. It's updated according to the description and it has a basement in addition to the house. It’s got an unfinished basement where you could use for storage, maybe rec room, maybe a den. Basements are very common in New England. So there’s an example starting in the upper right-hand corner of the country. Is it going to be cold in the winter? Yep. But some people like living up there.

Coming down a little bit farther, this is Stafford, Connecticut. Connecticut is typically known to be an affluent state. This is a 1,700 square foot house, also a three-one, two-story, clean looking little house, nice siding, brick fireplace, brick chimney. It’s not the worst house in the world; it’s not all beat up. Yeah, it probably needs some updating, but it’s livable from day one. And at $175, like we said, you’re about a thousand bucks a month fixed, and you’re in a coastal community within driving distance to Manhattan. If you wanted to be near New York City, you probably wouldn’t want to commute every day from Stratford, but at least it is a hop and a skip if you want to go there.

Going down a little farther, Norfolk, Virginia, right near Virginia Beach along the coast. This is a smaller house — this one is 1,000 square feet, two-one — but it’s a nicely designed house, looks like it has a little bit of a yard, and it’s not in the worst shape in the world. Very livable, move-in ready, painted nice on the outside. You want to be near a naval base if you’re in the military, if you want to be near Washington DC it’s not too far away. Main thing, coastal community, $179,000.

A little bit farther south, Charleston, South Carolina. Classic eastern seaboard states town, historic town again, 1,000 square feet, 3-1 seems like that’s the theme. This one’s $200,000, eight-mile-long West Ashley Greenway in your backyard. So if you like jogging, dog walking — again, these houses are not all disadvantaged houses, they have a lot going for them. The idea is that you buy a house instead of renting; you pay a lower price than what your rent was. Most people’s rents are going to be $1,500, $1,700, $1,800 a month anyways. These houses will all be less than that for a mortgage. Your mortgage is never going to go up. You can’t get evicted, you can’t get non-renewed on your rent. Pay your bills, live there forever. And if at a later date you decide you want to buy a dream house, something bigger, the equity in this house that went up in value, you can apply to that.

Remember, we’re not realtors, we’re not trying to sell anything, we’re not brokers, we don’t make commissions. It’s an example of showing one pathway of life that might improve your finances, your wealth, or your living standards. May not be for everybody. If you already have a million-dollar house, these are not for you. But this is a way to get into the pipeline.

This one is in another famous historic coastal community: Savannah, Georgia. A lot less money too — $150,000, 1,300 square feet house, has got a lot going for it, looks like it has a decent little backyard. Savannah, Charleston, South Carolina, great little coastal communities, a lot of culture, a lot of opportunity for employment in the hospitality industry, or there’s a commercial corporate relocation to the east coast. BMW has a big plant in South Carolina, there are some tech companies moving to the Savannah area. So these may be opportunities not only for employment if you can’t work from home, but to be in a nice coastal community where if you want to drive to the beach, you can drive to the beach.

A little bit farther south, Pensacola — or "Piccola" as it's known — 4-2, this is a pretty good-sized house, 1,600 square feet. What does Pensacola have going for it besides a beach coastal community? Well, huge military base — Joint Base, mostly Air Force, but there’s also some other military branches located there. Probably in maybe a little less newer condition, but not the end of the world. $199,000 for a 4-2 with 1,600 square feet — that’ll be something that is an upgrade from a small apartment and a lower rent. And again, you can’t get kicked out, you can’t get non-renewed. You at least can’t go up.

Pensacola — a lot of people like to move there. It’s also close to the Alabama border if you have any interest in being in Alabama. Alabama, the Gulf Coast is highly desirable. Weather is good. It’s not too hot and humid like South Florida, and it’s also closer to some larger cities north.

In the month of April, you hear a lot about this town, Panama City, Florida. This is a Spring Break mecca. So if you like Spring Break and you like that lifestyle, Panama City has a lot to offer. Looks like a clean little house, relatively upgraded, stainless steel appliances, brick fireplace, 1,200 square feet, solar panels on the roof, close to Tyndall which is an Air Force base. Never worry about electric bills because you have solar panels and that saves you money on electricity. Near the beach, near the gulf, good for boating, fishing, or if you’re in the military you have access to a large military facility at Tyndall.

Here’s the one that looks really good — this is a new construction in Alabama. Alabama coast, one of the most underrated beaches in the country, is Orange Beach, Alabama, which is very close to this location. The beaches there are like sugary white sand, beautiful water conditions, very cultural area with a lot of entertainment, shops, and restaurants. This is a brand new house, new construction, nobody’s ever lived there. You’ll be the first person to walk your feet on that floor, use that sink. Brick exterior, $195,000, 1,500 square feet. So think about having a mortgage payment maybe $1,100 or $1,200 with tax and insurance depending upon what the tax rate is in that town. Going to be less than what your rent is. Brand new house, coastal area, a lot to do in the area, decent size yard, looks like from—it’s got brand new sod in the front.

The back is at the back of the house — that’s the front still — here’s the back. Looks like it’s got a little bit of breathing room if you got a dog, you got some kids. But how can you go wrong? Brand new house, $200,000. Spin the wheel on states. Do you need to live exactly where you’re living? Can you work remote? You want to make new friends or maybe you want to live in Alabama.

What’s next? How about Mississippi, the next state over? $179,000, 1,500 square feet, two-car garage, Gautier, which is a coastal community, not a big town, it’s a little more rural than some of the other towns. And it is Mississippi, which — you know what do you say about Mississippi? It’s not really known for anything, but it’s a good-looking house, handsome little architectural details, hardwood floors, granite counters, fenced yard. Let’s take a look at this house for pictures.

We don’t normally go too deep into them. Vaulted ceilings, bright looking, white paint, kitchen’s clean, cabinets are okay — again, they’re not high-end cabinets but you’re not paying a high-end price. Clean, clean, clean. Clean enough to eat off the floors. Looks like there’s a big room, fireplace, backyard, granite. Nice bathroom with some granite and a little bit of tile. Shower enclosure, two-car garage, small front porch, nice looking yard. And the location — right near the beach. Right near the water in a town called Gautier. We don't normally hear about Gautier, Mississippi. Right near Biloxi, Gulfport — a lot of cool things going on there.

Next we go all the way across the country to California. You’re saying to yourself, "There’s no way you can live in California for $200,000." Not quite — this is a condo, and it’s in San Pedro. It’s only 740 square feet. So this is probably not a house you’re going to raise five kids in, but it’s still on the ocean. San Pedro is an oceanside community, southern California, just south of LA. One-bedroom, one-bath. If you need to live in California or you want to live in California, you have family there or you have employment there, this is an entry point.

And if you look at the cost of renting a one-bedroom in LA, you’re going to pay more than this for rent. This would be a cheaper way to live. Also could be a rental if you bought this and put a tenant in. And then finally, let's go all the way up the west coast to Washington State. This is near the Olympic Peninsula, very beautiful area. This house is just under 1,500 square feet. Three-two, almost an acre of land, lots of trees, privacy, peace and quiet. You’re near the ocean, 10-minute drive to the beach, and if you like the Pacific Northwest climate — green all year round, a little drizzly, a little cloudy — this is for you.