Just imagine waking up and walking to the beach, running your toes through the sand and breathing in the salty ocean air. Living near the coast is a dream of millions of Americans. If you’ve been saving up to make this dream a reality, the time to start looking is now! The housing market is hot and interest rates are still historically low, so finding that perfect beach town home could be right around the corner. Several coastal locations have been consistently showing trends of high foreclosure rates, meaning potentially discounted prices! Check out a few of our favorite spots to see if these destinations could be right for you and your family!
If you’re looking for a home surrounded by culture, fashion and entertainment and situated right on the ocean, Miami could be for you! South Florida foreclosure rates are the highest in the country. According to RealtyTrac.com, one in 74 homes have been foreclosed on during the last six months, and auctions increased 15% from a year ago. This means you’re more likely to find a discounted property than ever before. A destination home in this area could be well within your reach!
If city life isn’t for you, head up the coast about 135 miles north of Miami to the coastal haven called Vero Beach. This quiet beach town has a laid-back atmosphere and lots of character. Vero Beach offers miles of pristine coastline and is home to the Pelican Island National Wildlife Refuge. Buying a home in such a retreat must cost millions, right? Wrong! With foreclosure discounts still high, this destination could be your future home!
Atlantic City, NJ
If you’re looking for an exciting getaway, Atlantic City will provide endless activity and amusement! With a world-famous boardwalk lined with casinos, shops, restaurants and an amusement park, your family will be constantly entertained! Surprisingly, Atlantic City is one of the best beach towns to buy a home because of high rates of foreclosures. RealtyTrac.com claims that the state of New Jersey has the fourth highest foreclosure rate in 2014. One in 134 homes are foreclosed, which is a 54% increase since last year. So this could be your chance to own a home in a bustling beach town!
Hilton Head, SC
Of course there are plenty of multi-million dollar estates lining the South Carolina coastline, but don’t be intimidated by these properties. South Carolina is among the top 10 states in America for foreclosed homes, so house hunting for deals isn’t out of the question! In the first six months of 2014, 0.62% of homes in South Carolina were foreclosed. This means there are affordable homes out there that could fulfill your dream of owning a home in a beach town. Hilton Head Island in particular is a fantastic place to live, especially if you can see yourself teeing up on world-renowned golf courses, boating around the harbor or soaking up the sun on miles of sandy beach.
Charleston is another coastal city in South Carolina worth checking out for potential deals. If you’re looking for more of an urban feel than Hilton Head, this location provides a bustling harbor, rich history and endless restaurants and shopping. With the foreclosure rate still high in the area, you never know what deals you might find when investing in a Charleston home.
When you’re looking for your new home in a beach town, make sure you’re getting the most bang for your buck! Get ready to soak up the sun and relish the ocean breeze. Happy beach home hunting!