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Bust! Add $300 to Your Monthly Carolina Beach Real Estate Payment–Wind and Hail Insurance

Wind and Hail Insurance Rates for Carolina Beach NC Are a Beast!

wind and hail insurance is a beast in coastal North Carolina.

wind and hail insurance is a beast in coastal North Carolina.

So I just sold this brand new home in Carolina Beach.  A buyer had been negotiating 5 days with builder.  My buyer took my advice and we prepared a contract that caused the builder to switch to us even though terms were very similar.  Yes negotiating and subtleties of contract prep are an art and if you’re with the right agent you have  a chance to get homes you would have otherwise had no chance to get.  I have an entire series on picking the best real estate agent here at my other website JustNewListings.com.

The Hidden Cost when buying some Carolina Beach Real Estate with Ocean Views

The big issue that revealed itself is that even though their new home is not in the flood zone they still have a huge monthly wind and hail insurance bill that covers much of the coastal area.  So a quick study on it by seeking quotes from several insurers found a range of quotes.  The bottom line is that for their new home worth 425,000 with about 2300 sq ft (that includes value of the land so the home value was perhaps $325,000 for example) their Carolina Beach wind and hail insurance is $2500-3665.00.  So this is a $300 addition to your monthly housing payment.  The point of this blog post is not to dissuade you at all from buying a home that is walk to the beach and amazing healing in the spirit that comes with hearing the ocean and smelling the ocean 🙂 , etc.  The point of this post it for you to be well informed as you start the process of buying a home in much of the coastal areas of New Hanover County NC insurance rates.

wind and hail insurance carolina beach real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For many buyers though it is a non issue in that if you buy a condo in Pelican Watch for example your condo fee includes flood and wind and hail insurance already.  And let me tell you concrete and steel condos in Carolina Beach, Wrightsville Beach or Kure Beach are the way to go as a long term investment as opposed to stick built condos–see some examples below if there are any active listings.  The concrete and steel buildings are the mid-rise and high rise buildings.

 

Price Range: $300,000 to $300,000 Price Average: $300,000
Size Range: 1,026 to 1,026 Sq. Ft. Size Average: 1,026 Sq. Ft.
Gallery List Map
1 1 of 1
Under Contract
Contingency
$ 300,000
1403 S Lake Park Boulevard #1103
Carolina Beach, NC 28428
Pelican Watch
Bed / 2 Bath
1,026 Sq. Ft.
Property Type: Condo
MLS® #: 100072338
Under Contract
Contingency
$ 300,000
1403 S Lake Park Boulevard #1103 | Carolina Beach, NC 28428
Pelican Watch
MLS® #
Property Type
Beds
Baths
Square Ft
100072338
Condo
2
1,026 s.f.
This condo is turnkey! Renters are already in place for the summer season! Unit is a 2 bedroom/2 full bath condo w/reclining sofa that sleeps 6. This 1026 SF condo offers oceanfront water views from the master bedroom, living room, dining room & kitchen. You have your own private balcony that spans the width of the condo to enjoy the extensive ocean views from the 11th floor, of the 11 story concrete and steel building. You are steps from the beach & the views are spectacular. There's a reason this building is called Pelican Watch: the birds fly by throughout the day. Don't let this one slip away! UPDATES: New hurricane rated sliding glass doors & windows were installed in Summer 2015. HVAC replaced in October 2015. Kitchen appliances 2016 & 2017. Water tank December 2014.
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No listings available.
1 1 of 1

 

 

 

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