South Florida real estate?

Not just Canadians, but old guys in Speedos with gold neckchains

 

That describes Canadians.
They invade the beaches here in NH in the summer.
They are easy to spot, gold chains, wearing a Speedo
and flip flops with socks.

 

I'll tone it down once the race season starts

 

This is the best advice in this thread.

I have a single-family and a townhouse both just a touch north of Vero Beach (Brevard County). Insurance is fucked on the single-family and the HOA is fucked on the townhouse. For the single family, insurance and escrow were just adjusted and it shot a $2400/month mortgage up to $3200/month. On the townhouse, the HOA is right in the neighborhood of $600/month.

No real advice on whether you should or shouldn't, just pointing out things to consider. I can't imagine how folks are feeling that bought something at the top end of their budget, just for the insurance and/or HOA to skyrocket on them shortly after.

 

I had a weird relationship with Vero Beach. I spent almost 5 months there and I am completely incapable of describing it to someone. I saw the ocean one time. I usually only got away from the airport neighborhood to go to the gym or the movie theaters on U.S. Rt1. . I sometimes regret not getting to know the area.

 

I’m not one to say who or who isn’t crazy? But my short time here , you more than anyone have made me go hmmmmm?!? Again not judging, but you really should try some of those magic mushrooms we on here have talked about? ! Can give you a whole new perspective and or outlook on life .

 

that sounds more cuban than canadian lol

 

ok, we bought properties around miami a few years ago - all houses THANKFULLY - the situation with HOAs and condo's is out of control in fla. there is no way i would even think about buying one now - and we did think about getting one a few years ago and are now very thankful we did not! Also with ins - yes its gone up A LOT - so much so that we just pulled it off the houses (except one)...in our experience they dont cover shit anyway and will find ways to deny coverage - meanwhile the rates keep going up exponentially!

alternative idea that may fit your plan - buy a house with an efficiency already in it (or build one) - rent out the efficiency generating income from the property - have them control the landscaping for a reduction in rent - the house looks like there is people in it all the time and you come and go as you please and not worry about continuously rising HOAs that are not tax deductible.

 

Go a little north to Boca Raton. I hear it's nice....

 

The guy I know that is paying 15-18k a year in insurance is thinking about self insuring? The house was built in the past 10 years so it had something like 200 mph windows and shutters and thick concrete walls etc. The previous owner was a builder and supposedly did it right? He is just outside of Ft Meyers in Cape Coral and they’ve been hit with 3 hurricanes in a 13 month window and he had almost no damage. Messed up the screen on the screened in pool so he removed it.

 

What are job wages in those areas

I can't believe those costs, that's nuts

 

Insurance is out of control, maintenance fees also, ours has climbed from $450 to $873. State had a ridiculous knee jerk reaction to the building in the Miami area that came down from lack of maintenance.

I’m in Sunset Beach on Treasure island on the water. 10 minutes from the gulf by boat at no wake speed, 4 minute walk to the beach.

We’re selling because I plan on retiring.

All the old people live on the gulf side, their parents live on the Atlantic side.

$200 maintenance fee near the water with a single car garage?? You must be high. Maybe near the river in Ohio…

 

i cant speak to every job, but for me it was about a 70% pay cut to move to miami - for my wife it was also a pretty severe pay cut. needless to say we dropped that idea pretty quick! some will say "oh but no state tax!" - yeah...that doesnt even come remotely close to the amount of pay we would lose, nor does it account for the increase in costs that the state put in place to make up for the lack of state tax - toll roads everywhere, high property tax etc - the state gets their money one way or another.

 

Well he did want to rent an enclosed garage in S Cal for $100 a month.

 

1 you'll be the only English speaking white guy
2 be ready for the six figure mystery assessment that no one can pay so the whole building gets sold out from under you to a developer who wants to demo it.

Mic drop end of discussion

 

You will loose a lot less putting your whole net worth into the meme coin of the day

 

My insurance is under 3k per year and the HOA in our neighborhood is 220. Per year. The reality of South Florida does not reflect many other parts.

 

I never give up.

 

That's far from the quality you'll find in FL construction.
After Hurricane Andrew in 1992, FL revised it's building codes to minimize hurricane damage
When I was inspecting buildings in SE FL in 05-06, after Wilma, I saw soo many buildings that came apart in 80 mph winds that were supposed to withstand 125 mph winds.
I would suspect that building inspectors there are either bribed, never look or are just incompetent.

 

Or marrying a Russian chick.





Twice.