Researching area for retirement (Miami, Melbourne: foreclosures, insurance, new home)

[HEATHER72]

Hi all -

We are starting to look at places to retire to in a few years. We are very interested in Florida. We have lived in NW Florida before, but we don't want to live there in retirement years. I've seen the area a bit near Port Canaveral while doing some excursions while cruising. Any way, I know nothing about the area and I don't know where to start.

We are driving down to Miami for a cruise in August and want to take some time to look around closer at some cities. Our budget would be roughly up to $600,000. We would like to build a new home. Just at first glance there doesn't seem to be lots of new builds in new neighborhoods ... right or wrong? How about buying land to build on in the future? Thoughts on areas to concentrate on?

[Nypafl4u]

There are empty lots available in parts of Cocoa Beach, but you will be paying top dollar now and not many to choose from. A shame you weren't ably consider this about 5-6 years ago (who knew) when prices were real lie and nothing new was being built. So many land foreclosures back then...
There are likely more choices in Merritt Island, especially north of 528.
I would definetly hook up with a realtor who knows the area. You may just find a really nice newer build for a better value in a potentially better area depending on what your preferences are (such as nearer to the beach, shopping vs. the desire for more land and privacy).

[DanaSellsHomes]

Hi there!

I am a life-long resident of North Merritt Island and have watched this area grow over the past decade. There are several new communities planned for N. Merritt Island in the coming months. One development plans for at least 200 homes ranging from the high $200's to high $400's. Merritt Island offers a fair amount of vacant land (some direct river front) outside of these new communities. Another area to consider is Viera. It is booming with new construction.

[BrevardREALTOR]

Hello Heather,
Christopher Burton homes are high end and they have several subdivisions in Viera. You could look at models when you come up for your cruise. DiPrima also has higher end subdivisions in Viera and Melbourne.
There are vacant lots beachside, but they are pricey. With the cost of the lot the house might be smaller than you could build elsewhere, but the value may be more than a larger home elsewhere. You would have to be ok with being in a mixed area of homes though because the majority of homes are older Florida ranches beachside. The ability to walk a couple blocks and be on the beach can't be beat though.
If you have any other questions or want more information feel free to message me.
Take Care,
Wendy

[1insider]

Would be a shame to get almost to the beach and still have to get in a car and drive across a bridge to see it. Cocoa Beach is within your budget although inventory is extremely low. You might have to be patient until something you like comes available but I doubt you'll ever regret living in a small beach town. Yes, you can get newer and bigger for the same dollar in Merritt Island or Viera but you can't stroll to the beach from either.

[HEATHER72]

Thanks for all the info. We're not really interested being on the beach. Question about building practices in the area... are all homes built now with block construction?

[Nypafl4u]

For the most part yes. It is the best way to ensure discounts on insurance. I don't think anyone is building wood frame anymore in Florida. There are strict regulations for window, doors and roof designs, all to withstand the potential for Huricane winds (130 miles an hour I believe). Any local builder will know all this and should follow all modern codes or they will never pass final permits and inspections.

[Rabflmom]

Originally Posted by HEATHER72

Thanks for all the info. We're not really interested being on the beach. Question about building practices in the area... are all homes built now with block construction?

First floor usually is, but a 2nd floor is usually frame on the mainland anyway. I think you can still build an all frame house to code.

[BrevardREALTOR]

There are still wood frame houses being built to code, but the general consensus is that block is recommended. You sure can get a lot more house for the money by having a short drive to the beach (assuming you even want to go to the beach)!

[Nypafl4u]

There may be a handful of builders still building frame in Brevard Counnty (Bucks Carpenrty is one that comes up on a Google Search). But unless your income allows for it, you will be paying a heafty (like 40% more) premium on your insurance policy (especially if not too close to a fire department station). That is a yearly expense I would prefer not to have to pay. You would also be wise to take out a termite bond on the house both for personal peace of mind and future selling opportunity. That can add $300-$600 a year as well.
I do love the architectural freedom and design possibilities a frame home can offer (lived in frame homes all my life in the north east), but for my hard earned dollars, in Florida, I would pass on this option if purchasing again.
Yes, frame is sometime used in 2nd floor builds above the initial block 1st floor. The rating becomes "combination" but if more than 60% (I think) is block, you get the better insurance rate. Framing is still cheaper to build in most cases, but builders know what sells in a given location and tend to favor that method. My Moto always is do what makes sense in your local area, both for today and in the future. Rarely do people stay in the same house all their life. The insurance companies forced the bad stigma of frame and now that is a rarity in this area for new builds.