I love looking at the deals available on the Long Beach Peninsula. It never ceases to amaze me how many people retire to the Oregon Coast and get completely leeched by the market and the government. It is like having a pair of thirsty vampires tag teaming you till your assets run dry.
The State of Oregon has done a great job marketing the Oregon Coast. It is a wonderful place to live and play and it is beautiful. This multi-million dollar annual ad campaign has led to excellent revenues for tourism in Oregon but also has created a real estate demand through recognition and national exposure. Prices for coastal property just across the state line are roughly double for like properties. Vampire number one is the housing leech.
Vampire number two is the Government. Oregon has an oppressive income tax. In fact one need only earn $8500 in adjusted gross income and the state vampire starts sucking 9%. This double vampire tag team will seriously effect the ability of retired persons to enjoy their retirement.
Washington has no state income tax and real estate prices on the Long Beach Peninsula are very modest in comparison to their Oregon counterparts just a few miles away. Take a look at this deal I found on the MLS
This is a cute 2 bedroom, 2 bath home just across the street from the beach access trail. Built in 1966 and recently remodeled this house has granite counters, wood laminate floors and a classic white picket fence. Ah, Americana Classica!
This property is listed by the Rian Group at $215,000. I dare you to find something on the Oregon Coast anywhere near this price, this close to the ocean.
Retirees can save a couple of hundred grand on the house, a few thousand a year on property tax and pay NO STATE INCOME TAX! And some still worry about paying a sales tax. The sales tax is likely less than the property tax difference on a similar Oregon property. And the lack of Income Tax is a 9% pay raise!
If you are wealthy beyond your wildest dreams, by all means live in the exact spot you want and don't fret the taxes and prices. The other 99% should come to the Washington Coast. Don't get 'sucked' into the dual vampires on the Oregon Coast.