Looking to buy a condo in SoWal

[Paula]

If you start getting interested in places in the $200,000s, then check on the Cottages at Camp Creek. They have more bedrooms than you said you want, but extra bedrooms can be used for guests, offices, etc. They are free standing so you havea real little cottage rather than a condo. Big pool, 4 minutes from the beach. We have two one-story 3-bedroom/2 bath cottages there and love them and hope to keep them forever. But I heard some are for sale and at very good prices right now. PM me if you have any questions about the Cottages at Camp Creek.

 

[catmoney]

We finally made time to look at some units this weekend. We have also stayed at Hidden Beach Villas twice this spring and really enjoyed it. We looked at two units at Beach Front II; one at hidden beach villas; and one at gulf place. We liked them all, but I think have narrowed our choice to beach front II or hidden beach villas. However, we are still going to look at the unit at emerald hills before making a choice. Any advice or comments would be appreciated.

 

[IRIETYMES]

Don't overlook Inlet Beach

Inlet Dunes, two three story buildings all with one bedroom, full kitchen, nice living areas, great beach, natural area between units and beach for protection from most swells and some winds, lifeguard station, secure parking, pool, landscaped nicely; private and reasonable. Two bunk beds in hallway and bathroom complete the usual layout, and I'll bet many are priced just where you want them. Plus they rent steadily. Ask Bobby J about them, too.

 

[catmoney]

We've looked at Inlet Dunes and really like the complex and its proximity to the beach. However, it?s a little to far east for us. Oil or no oil, we are still actively looking.

 

[jgtodd42]

3 BR in Seagrove Highlands

I have a 3/2 in Seagrove Highlands for sale at $189K, short sale. Had a contract, approved by the bank, then the buyer backed out. It's on the top floor (4th), elevator, 10 foot ceilings, tile with carpet in bedrooms, screened porch. About 500 yards to beach. Pool and small fishing lake. Fully furnished including all appliances. Has been occupied by long-term tenants for 3+ years. Have pictures if interested (provide your e-mail address).

 

[beachgirl66]

I have a 3/2 in Seagrove Highlands for sale at $189K, short sale. Had a contract, approved by the bank, then the buyer backed out. It's on the top floor (4th), elevator, 10 foot ceilings, tile with carpet in bedrooms, screened porch. About 500 yards to beach. Pool and small fishing lake. Fully furnished including all appliances. Has been occupied by long-term tenants for 3+ years. Have pictures if interested (provide your e-mail address).

Nice condo! I like the wooded area off of the balcony, and it is very close to the beach!

 

[Easternlakefan]

Hi Catmoney
What is your price range? This Would be helpful to know before advising.

Some thoughts...
I'd be real hesitant to buy a unit if you need rental income to cover. A lot of beachfront units rent well, but you never know about hurricane damage (leeward) etc... Also you loose tax deductability if you use for personal use over a percent.

We own beachfront but have often rented at Hidden Beach Villas when our place wasn't available. Nice complex..short walk to beach (just across street, well maintained.) We thought they were way overpriced at 1/4 million (2005) but very reasonable today. Wouldn't consider Rolling Tide if you're going to rent as it's too far from the beach. Emerald Hill is beachside. Rear units might not have a view but complex is beachside.

Another well maintained complex we like is Beachside Villa's. We've rented a unit in Bldg 11 several times and it is only a few minute walk to beach. However the smallest unit is 2BR 2BA so you're looking at a different pricepoint than HBV.

 

[Paula]

Hi Catmoney:

We love the Cottages at Camp Creek, about 1/2 mile west of Alys Beach, 1 mile west of Rosemary Beach. They're charming 3 bedroom/2 bath cottages with two car parking and a large porch. There's a very large pool for a not-to-big community (about 20 small cottages and 8 larger ones - don't quote me, I'm writing too early in the morning to count) that's quiet with a quiet beach across the stree (about a 4-5 minute walk). We bought our first cottage at the Cottages at Camp Creek in 2003 and then liked it so much we bought the one next door in 2004. They have dropped in value since then, but that didn't affect us because we plan to keep them for decades. I know some people have gotten what looks to me like a very good deal in the past year, but (as a few people note on the board) you never know where the bottom of the market is (whether it's coming or has passed) and that also depends on the community. You can check with a realtor, but I think prices at the Cottages at Camp Creek may have started increasing again (based on what I've been told people paid for their cottages over the past year).

As was already noted on this board, don't assume rental income will cover all of your expenses, even in a year when there are no special events such as hurricanes (I think 2005 was the last one that affected us directly) and oil spills. I do think the rentals on the cottages will pay all the bills once the mortgage are paid, but I don't know that for sure. At this point, our cottages rent for 2-3 months each winter (we have return snowbird guests), a few fall rentals (not many), full in the summer (end of May - first week in August), and spring is better than fall, but spotty.

And there's always maintenance (which is why I like a one story place - I can do much of the maintenance myself - e.g., paint the window and door trim, power wash the cottages, etc.). I don't always do it myself because I don't have time, but I can when I want to.

I hope this helps with some of your planning. Just PM me if you have more questions.

Best,
Paula