observer499 :
$12.9 million for 2,777 square feet, then likely another $300,000–$500,000 a year just to keep it functioning.
Property tax alone would probably be around $140,000 annually after reassessment. Then add coastal insurance, flood coverage, salt-air corrosion, roof and glass maintenance, waterproofing, landscaping, utilities, security, repairs, and the inevitable “luxury home” contractors.
At that point, you are not really buying a home. You are buying a permanent financial machine that consumes money because it happens to sit near the ocean.
Beautiful place, obviously. But it is also a perfect illustration of how detached coastal real-estate prices have become from anything resembling normal housing reality.
2026-06-29 23:53:03