[nsumner]

I am not sure where to post this question so I just went for the general forum. Recommendations would be appreciated.

I am looking to purchase a house/duplex near/on a nice beach (walking distance). A property that I can rent monthly or weekly and then use it when I visit.

Where in Florida would a budget of 200K..ish take me?

Thanks,

Naima

[kyle19125]

For the best selection in that range I would focus on Indialantic, Satellite Beach and Indian Harbour Beach which are on the central Atlantic coast about an hour east of Orlando. Both are quieter non-touristy beach towns that offer plenty of restaurants and services, plus homes walking distance to the beach in many instances. In a quick search I found 50 homes in the area that are in the 175K-225K range that are non-foreclosures. I think it would have appeal for many European tourists in particular who like to focus on beach vacations, yet are in close enough proximity to the theme parks in the Orlando area.

[Rabflmom]

Originally Posted by kyle19125

For the best selection in that range I would focus on Indialantic, Satellite Beach and Indian Harbour Beach which are on the central Atlantic coast about an hour east of Orlando. Both are quieter non-touristy beach towns that offer plenty of restaurants and services, plus homes walking distance to the beach in many instances. In a quick search I found 50 homes in the area that are in the 175K-225K range that are non-foreclosures. I think it would have appeal for many European tourists in particular who like to focus on beach vacations, yet are in close enough proximity to the theme parks in the Orlando area.

I think it would depend on where the house is located because not all areas of the beach even allow short term rentals.

[Magnolia Bloom]

Insurance can be expensive near the beach, so make sure to factor that into your monthly budget.

[BECLAZONE]

Originally Posted by kyle19125

For the best selection in that range I would focus on Indialantic, Satellite Beach and Indian Harbour Beach which are on the central Atlantic coast about an hour east of Orlando. Both are quieter non-touristy beach towns that offer plenty of restaurants and services, plus homes walking distance to the beach in many instances. In a quick search I found 50 homes in the area that are in the 175K-225K range that are non-foreclosures. I think it would have appeal for many European tourists in particular who like to focus on beach vacations, yet are in close enough proximity to the theme parks in the Orlando area.

That area looks beautiful.

[gypsychic]

Originally Posted by Magnolia Bloom

Insurance can be expensive near the beach, so make sure to factor that into your monthly budget.

Insurance on or near the beach will be a killer, and that is assuming you can even get insurance. Of course if you are paying cash you could go without. But definitely check into ins. costs. before you buy anything. For investment purposes you may not even be able to get any.

[beachmouse]

If you are doing short term rentals, you really should have at least a good liability policy because you don't want one of your renters getting drunk and then slipping in the shower and suing you for resulting medical expenses.

Not sure how you can get one separate from general homeowner's insurance, but thee should be someone out there willing to write that kind of policy.

[jghorton]

There are a host of beach towns in Florida, all with their own 'snow-bird' and tourist followings. There are, likewise, rental units to accommodate these folks. Beachwise, we've lived in the Tampa area and the Satellite Beach/Melbourne areas ... and now Destin, --- and have also rented condos that we owned. There are a lot of differences that will depend more on your particular interest, then on whether you can simply buy something there in your price range.

A few relevant questions and notes:
Q: Where do you want to live/visit? (Is this a potential future home for you? ... or just a temporary rental/vacation unit?)
Q: Are you going to live in the area or 'rent/lease' at a distance? (The latter will cost you considerably more -- and is a lot more difficult and impractical than one unfamiliar with the headaches might imagine). Property managers can be engaged to handle everything from advertising, to showing/renter oversight, to clean-up etc. ...all, of course, for a very high fee!
Q: If your chosen area is not a high-traffic area, will it provide you with a sufficiently profitable flow of renters?
N: Zoning is different for 'hotel-type' rentals (high in/out traffic) -- You cannot simply buy a duplex in a residential neighborhood and start renting it out on a weekly/monthly basis with no long-term lease arrangement. Houses and duplexes don't generally fit into the weekly/monthly rental picture.
N: Most condos have a minimum rental period: 3, 6, 12 mos. - This will largely define your 'renter pool' and will also limit your own use of your unit. In the really high-traffic places (Destin), you will typically pay a high HOA fee (in addition to property management) - to accommodate higher maintenance costs associated with a highly transient occupants.

[kyle19125]

Originally Posted by Rabflmom

I think it would depend on where the house is located because not all areas of the beach even allow short term rentals.

Freestanding single family homes not within an HOA (which were primarily what is available) wouldn't have any such restrictions.

[jghorton]

Originally Posted by kyle19125

Freestanding single family homes not within an HOA (which were primarily what is available) wouldn't have any such restrictions.

The issue is not with HOA restrictions, but, with zoning limitations. In most areas, I believe that short-term rentals with extensive turnover (weekly, daily, and even monthly) are considered hotels/motels and must, therefore, be located in an appropriately zoned area (or have a special zoning variance).