South Florida real estate?

Am I crazy for even thinking about this?

Would like a 2 bdr condo, around 1,000 sq ft, with a single car garage within a 5 minute drive to the beach. Maybe Vero Beach area? Somewhere away from the FLL craziness but not too far out in the sticks. Gotta be on the Atlantic side. Not the gulf side.

Just sort of browsing around on Zillow, I see that a lot of these types of places have monthly HOA fees of $550 or more. That ain't gonna fly... would like something with more like $200 per month.

Don't want a detached home because I don't want to deal with maintenance.

What about the insurance situation? The condo would be paid for, but I still need a decent policy.

Anyone in that area with some intel?

 

Before I read the message my first thought was "Gulf side".

 

There's a huge "gotcha" right now where a lot of buildings haven't been upgraded to the latest standards. The HOA fees will explode at these buildings and the units will be on fire sale prices.

 

The HOA fees are high due to:

Property insurance costs. Often 3 separate policies are require.

Incredibly high deductible on insurance. Condo units in FL are often in large groups with multiple locations totalling thousands of units. Deductibles are a percentage of the total value of all these units, so, $20M is probably an average.

People move to FL from cold climates to live a low budget life. They don't want to pay the special assessments for maintenance and insurance, so the place gets run down.

Plus, it's a condo. You want your life run by stupid people on the condo board?

 

Your financial decision making has me questioning how the hell you aren't multi-bankrupt broke!

 

He needs some timeshares too...

 

The last thing I need is a SFR with broken irrigation, landscapers don't show up, weeds everywhere, roof leaking & crackheads trying to break in all the time. F that! Been there, done that. I want a condo assoc wiping my butt. It ain't perfect, but if you're older, don't want to lift a finger, and want lock-and-leave convenience, its the way to go.

 

I'm curious why the Atlantic side? The guy that runs Tailift USA lives on the water on the Gulf side and is originally a New Yorker. He told me the gulf side it more midwestern decent people, and the Atlantic side is more East Coast Jersey and New York people.

 

I think this is true for the area between FLL and Miami. I like the beach and waves on the Atlantic side. More of a beach vibe than the gulf side, from my experience. I've only visited the panhandle and Naples/Marco Island, but the beach was pretty boring and those areas are really sleepy (south gulf coast).

 

If you can find a townhouse with decent neighbors that would be better than a condo. My aunt lives in a condo on Singer Island... maintenance is $1500/month and they out it outright. Great Atlantic Ocean view & access.

 

There aren't a lot of condos in Vero because of the height restrictions that have been in place forever. Insurance sucks and is only going to get worse due to the recent tornadoes that wrecked beachside.
And we are full.

 

I know his insurance has really shot up. He is paying $15-18K a year for his house, single level, around 2500 sq feet.

 

I grew up in Naples (12 miles inland in Golden Gate actually) , and can see why you got that impression. I don't think I'd ever want to spend more than a couple weeks a year anywhere in FL, but if I did the choice would be very easy- Siesta Key.

 

Insurance shot through the roof last 3 years , taxes are right behind it. All real estate around here ( I'm south by FLL) sold like wild fire. Quick as it was listed it was sold for way over asking price. HOA fee are insane.

 

Atlantic Side = NYers, Bostonians, etc. come down I-95.

Gulf Side = Midwest Nice folks come down I-75.

 

Dont forget Canadians too!!

 

Before you buy, do a long term air bb rental for a couple weeks in your chosen area.

Make sure you know what u want

I know several friends that sold their places there. More shit to manage, insure, fix.

 

Take a look at the Forgotten Coast area. It is on the gulf of America side, but it is away from all of the hustle and bustle. Look at Carrabelle, Eastpoint (where we live), St George Island ( voted best beaches in America), Apalachicola and Port St. Joe.

 

You better check with your ex, she'll probably own
half of it soon enough.

I'd like to suggest that you just start one thread titled
something like "Motion's Weekly Dilemma" so you
can keep everything in one place.

 

Everybody forgets Canadians...