Hi all,

Hubby and I are contemplating buying an investment property in Rhode Island - with the idea of renting it and then using it as a "vacation home" in our later years.

We love the water, and he loves boats, so we thought Rhode Island might be just the ticket. Especially since it is only 2-3 hours from our house. I was hoping to get some insight from Fodorites on recommendations for nice seaside towns in the state.

We were looking for a small town on/very near the ocean or a bay, sort of Cape Cod in feeling, with a decent downtown area to do shopping, restaurants, etc.

Any suggestions? Thanks!

Can't get much better than Newport. Check out www.gonewport.com for area info.

Other towns to consider:
Bristol (Home of the longest 4th of July celebration.)
Wickford (A seaside village of North Kingstown)
Westerly
Watch Hill

Also forgot to add:

www.riliving.com

to get an idea of the real estate available in various towns.

A friend and her husband, also boaters, used to rent homes in the Westerly around near Misquamicut beach. I visited them one year and thought it was nice but that was quite a while ago. You might have a look on vrbo.com (vacation rental by owner) and see where there are homes listed.

thanks all!
That riliving site is really helpful! I already found some really good prospects.

Does anyone know what the rental market is like in these towns? Full year or summer rentals?

Also, any thoughts on house prices in RI - I had heard on the radio that RI has seen a significant drop in housing prices recently.

Can really only comment on Newport...there is a strong rental market there: Summer, Students (Salve Regina University), Navy, and year round.

Statewide the housing prices have dropped somewhat. Newport County has seen less of a drop than the rest of the state.

Best boating is in the sheltered Narragansett Bay, so look at Newport, Bristol, Barrington.

Little Compton! It's SOOOO beautiful, and right near Mewport.

I'd go with Bristol, Steviegene.
Newport is very expensive,and quite hectic in the summer, as well as large. Bristol much quieter, lovely downtown area, good restaurants, and has great rental opportunities. Much more a "Cape Cod"feel.Definitely rent for a couple of weeks, before you decide on any town, to see how it fits in with your lifestyle.

If you'd like, I can suggest several realtors for you to connect with for rentals/and or sales. Just give a shoutout!

Also, Newport has pretty strict rules in regard to summer rentals. I believe the minimum rental has to be one month. Most people go in with a large group and rent homes for the entire summer.

Distinctive features of the RI shore are the salt ponds, separated from the ocean by a barrier beach. They are a good place to moor your boat (connected to the sea by breachways) offer good fishing, kayaking and small boat sailing, etc. You might look at some of the communities set on them, such as Shelter Harbor, Shady Harbor and Quonnochontaug (Quonny).

Nearest town to these is Westerly. Watch Hill and Mystic are not too far, and they are on the CT side of the state, making for a shorter drive. Rental market in each is very strong.

thank you again for all your replies!
We are planning a weekend trip sometime in the next few months to get a feeling for all these towns.

Can anyone tell me about warwick?
I accidently searched warwick thinking it was wickford and found a really cute house there ON the water.
Its on Logan Street if that means anything to anyone.

Thanks again!

ttt

Warwisk is the second biggest city in Rhode Island (Providence is first) It has most of the commercial business that people use (malls, department stores, restaurants, box stores, the Providence Airport is actually located in Warwick.)

That particular part is in the Oakland Beach section. Oakland beach was once a bustling little beach community back in the day when people left providence to go to the "beach"

It's not you typical beach experience that you'd find in the south county beaches....it's a little more run down.

I doubt that you'd get much "seasonal" rental out of a place there...probably more of a yearly rental.

Definitely check it out when you're in the area....most of RI can be reached in less than an hour drive from anywhere.

Thanks for the thorough response - that was exactly what I was looking for!

bookmarking

My husband and I are both Rhode Islanders who grew up on the East Bay. Newport is lovely, but expensive and crowded in summer. Just outside of Newport are Middletown and Portsmouth. A more affordable alternative is Bristol, which is a real year-round town (my young nephews are being raised there) and has a cute historic district. I also love Westport (Mass.) and Little Compton, which is beautiful but MUCH quieter. We prefer the beaches there because we don't get stuck in beach traffic.

You could rent a home in any of those towns to vacationers, but Bristol and Newport also appeals to college students if you are looking for yearly rentals.

I don't know the West Bay as much and I know I'm pretty biased. I did have an ex-boyfriend with a summer house in Narragansett and that was nice, but I would not buy a "vacation" home in Warwick. Westerly/Watch Hill is nice too and closer to NYC if you are a commuter (or if your renters comes from there).

Any tips on buying and renting in Conanicut? What are the local favorites? How easy is it to moor a sailboat?

Who lives and visits here? Where do they hang out?

There are of rentals in Stonington, Mystic, Groton Long Point, Lords Point, Latimers Point end of CT and plenty of places to moor a sailboat. The beaches aren't as nice as RI beaches but sailing in Fishers Island sound is fantastic. if you're coming from the NY area, there is an amtrack station in Mystic for visitors from the city.

The amtrak also stops at North Kingston, RI, which is close to Narragansett and East Greenwich (which also has some pretty areas, waterfront property, and a cute Main Street with a harbor).

I didn't say much about Portsmouth and Middletown, but they are worth checking out too. More laid back than Newport but close to the action. One of the "Newport" beaches is actually in Middletown.

Are you "town" or "country" people? That might narrow things down a bit.