Thanks, Beachmark, and understood. That 2011-2012 time frame was the first time I know of in the OBX. So yes, is it relatively new on the OBX. That is not the case in some areas further north.
I did not realize until reading about it last night that this was only the 2nd time the NH nourishment has been done. I thought it had been done regularly in the past, but with increasing frequency in the most recent years. Apparently, that is not the case - the first time it was ever done was in 2011/2012. You mentioned 2012 and I think it was Whaler who had mentioned 2011.
That gives pause if all the re-nourishing is relatively recent.
The mayor of NH was quoted in the Virginia Pilot in May as "We're going to renourish as we can until we can't," he said. "That's what we will do. I do think that at some point out there it will get difficult. One day, a future board is going to have to make a hard call."
That statement does not inspire a whole of confidence that the re-nourishment will do the trick or that the financial resources are in place to keep doing it. Click to follow link...
BTW, my main interest in this is whether to buy or to continue to rent.
LOL..... I'd not listen to any politician on such matters, nor listen much to journalists. Politicians tend to be more reactive and are typically not at all prescient on such matters. Journalists have very little to no financial understanding, and bring personal agendas far too often into their writings. Both miss the BIG deal in this area: the BIG price to pay will be if the BIG ONE hits (Cat 3 or 4 or 5 hurricane). IMHO, that will make BN costs look like child's play.
As for finances, the number of homes in Nags Head is what... 2000 to 3000 ish? (I see that almost 1500 have been built since 1996 so that total number seems rational.) With those numbers, and the costs for BN as it has been, that is maybe $1000 per year per the near-ocean homes, and $300-400 per year for non-near-ocean homes if it just just assessments and added property taxes. That seems quite sustainable for a popular resort area, and does not include other $$ sources. IMHO, the whole situation depends more on if the area continues as a popular beach destination; as long as that is the case, the property value will hold, and thus the BN $$, will be there, as it will be worth it to make the investment. People WANT to re-create, and there are only so many pretty beaches; coastal Maine makes for some pretty rough swimming.....
As for your plans, be aware that some areas are not experiencing beach erosion. It is by no means a universal matter up and down the OBX.