Help Buying Real Estate

[hiknapster]

liberty4u: You've got it! Lehigh is going to be the cheapest. If it comes down to that, at least check the neighborhood. It wildly varies. It is not the greatest place for investments but if you can find a decent neighborhood it won't be half-bad.

Same deal with San Carlos Park. It's not all roses over there, either; just check the neighborhood.

And when I say check I mean drive around at night and on weekends, too. Knock on the doors closest to the house in question. If the people look solid, you will have a keeper.

Chinese drywall is horrible. Do not get stuck with a house that has it. They are still unsure if those homes can ever really be fixed. Search for the thread on this forum about the subject. Fabulous information. It is fairly easy to identify. And yes, always, always have a home inspection, even if the home was built in 1995. By the way, I think CDW is found in homes from 2002 to 2009. That is not etched in stone and they are not only found in swFlorida. New Orleans has a lot of homes like that as well as other parts of Florida and even a few throughout our country.

Yup. Riko and I are buddies, no matter what. I even like debating politics with him because he doesn't come from some lunatic fringe and can intelligently argue his point. He is always worth "listening" to. Beside, us northeastern people stick together like glue.

[justNancy]

Originally Posted by liberty4u

Once again thank everyone for your input. I guess its almost unanimous that Lehigh Acres is to be avoided if financially possible. Can't qualify for a mortgage on my income so unfortunately I will be using all my savings to purchase a home and $60k is max.

I will start looking in Cape Coral and Fort Myers area!

If you don't need to be near Fort Myers, I suggest you look at listings in Port Charlotte too. Compared to Fort Myers, you can buy a home in a nicer area for less money and it's a very safe city (most of it) Of course it depends on your needs. Also, if you have good credit, you might be surprised to learn you qualify for a mortgage if you put half down. Then you'll have a better selection. Yes, there are houses around for $60,000 but most of them are fixer-uppers. Then you've got to keep in mind that if the sewer assessments haven't been paid for, you'll have to add that to your taxes. You never want to use "all your savings" because roofs leak, pipes burst and insurance rates increase. One of these days, when prices start to go up again, property tax will also increase.

I guess my biggest complaint about Cape Coral is the distance to 41 and I-75 from some sections, but that might not affect you. Also, the NE and NW sections have few trees. North Port also has low priced houses. Again, whether you look in Fort Myers, Cape Coral, Port Charlotte or North Port $60,000 won't buy you a very nice house. I'm not saying they don't exist, but don't believe the ads you see online. The only time you really know what it's like inside is when you open the door and walk into a house! Also, many of the homes advertised are unapproved short sales and the listing price means nothing.

By the way, I agree with Hik. You might find a house in Lehigh Acres that is in a nice area with good neighbors. Its very bad reputation is driving the prices down. Perception is everything.

I want to edit my post briefly. When I said you won't find a "very nice house" for $60,000 I was talking about an average size home. However, you might be happy in an 850 s.f. house or a small house with a carport instead of a garage. I've seen some older homes on the market for even less than $60,000 and the areas weren't too bad at all. You will definitely get more house for the money in Lehigh, but make sure you'll be happy before you buy.

[hiknapster]

Good point, Nancy about looking in North Port and the other areas that you suggest. At $60,000, though, he can get decent enough and in a fairly safe area. It's hard to say that about many places these days.

By the way, liberty, you very well may qualify for a VA loan, which is no money down. Interest rates can be had for under 4 percent, right now. Also, check HUD. USDA homes are incredibly affordable and you can hold on to your money because they are usually 0 to 3.5 percent down.

HUD/U.S. Department of Housing and Urban Development (HUD)

This website also has info on the drywall but will also give you financing info:

Florida/U.S. Department of Housing and Urban Development (HUD)

Rural Information Center: Rural Housing Resources

[rikoshaprl]

There are some nice manufactured home developments, like Old Bridge Village in North Fort Myers, right on the river. It is a close drive to everything and these co-op homes prices are low. I drove through the neighborhood and it is well maintained.
Old Bridge Village - Welcome page

(Thanks Hik)

[kroeran]

Originally Posted by liberty4u

Once again thank everyone for your input. I guess its almost unanimous that Lehigh Acres is to be avoided if financially possible. Can't qualify for a mortgage on my income so unfortunately I will be using all my savings to purchase a home and $60k is max.

I will start looking in Cape Coral and Fort Myers area!

each area has its pluses and minuses, and depending on your background and preferences, one area will likely be an obvious best fit.

key is to not lock yourself down to an area or house before you have done some driving around and talking to people, and living in the area to figure out what you actually like to do outside of the house, and your tolerance for driving distances, preferences regarding architecture and age of the house and square footage for the money, insurance costs.