Need Advice about Naples/Bonita Springs (relocation) (Tampa, Orlando: real estate, condo)

[JWatral2016]

Originally Posted by Julesgirl

So within the Stone Creek development is the spec home the model home?

No, the developer will build several homes to accommodate those buyers who want a home now and can not wait a year for completion. "Spec" is shorthand for "speculative". Typically they are modest in their upgrades to appeal to the largest segment of buyers.

The developer will not sell & lease back the models until they think they are about a year out from "build out".

[movin1]

Originally Posted by Julesgirl

What does everyone do for work here to be able to afford it? My husband has a great salary here in NYC and the only thing that we need to do before this move is finding him a job in IT management that will pay the same as where he is now.

We have been here 3 years. As we continue to explore the area, we cannot believe the number of people living in homes that cost over a million dollars in communities that have exorbitant buy in and HOA fees.

I have no idea where they got this kind of money, especially because many of them are not that old and still working. There are only so many doctors, lawyers etc here with high salaries.

Naples and NYC salaries are not the same and the number of IT management jobs here will be a fraction of the number available in any major city. Naples is a retirement community for the very wealthy. There is not a lot of big business here, not that many employers who have high paying salaries.

Good luck to you on your search and hope you can work it out, but I think you need to take a serious look at Naples and make sure you even want to live here.

[Julesgirl]

Money is everywhere though. Same w where we are now. We live in a very expensive neighborhood homes ranging from 600s-2 million and most people we know are in the higher price range. However, with that being said though, the home I live in now is very expensive to run, it's old a lot of property and hard to maintain. I want something new and something where I don't have a lot to maintain. I'm tired of the cold and not so nice weather all around. I know the grass isn't always greener on the otherside but from my perspective you are very lucky to live there. I can say right now your lifestyle is probably more healthy and enjoyable then my parents here in NY. My husband and I were there for two weeks (left Monday) and it was an eye opener for me. We struggle here in NY and I'm not even happy in my home here. Good weather promotes a healthier more active lifestyle and I feel like I can enjoy it more. You are absolutely right about it being expensive there in Naples. I have to do more homework and speaking to people such as yourself who know the area helps me and all this knowledge and advice is what I need. Thank you for all of your feedback. Out of curiosity, where are you from?

[movin1]

Originally from Bloomington, IL. I met Leaving Illinois on this forum and we get together for dinner when we can.

I went to college at the U of IL and worked there for 32 years before retiring in 2010.

We moved to Chicago to downsize and be closer to family, but only lasted there 9 months. After years of visiting the city, we thought we'd love it. Couldn't have been more wrong or made a bigger, most costly mistake. We bought and sold a condo in just 9 months. The realtor's commission and moving expenses could have bought a nice car.

During the polar vortex of 2014, amidst wind chills of -40 F and 84 inches of snow, we took a vacation down here and decided it was where we wanted to live. Our family brought my sister and me to Fort Myers Beach every winter for vacation from the time I was in kindergarten until I graduated high school.

The weather here is great 6-8 months of the year. From June 1 to the end of September, it is hot and humid and rains every day. I see why snowbirds exist. For at least 4 months, you do not want to be outside except to get in the pool which only lasts about an hour.

A big reason we moved from Champaign was our house and yard was too big and expensive to maintain. Property taxes were killing us. I know how you feel about getting out of maintaining your home and leaving the cold weather. I do feel better, largely due to getting more sun and being able to get outdoors and do things more often.

Naples does not have a lot of things to do at night. There are a lot of nice restaurants but eating out gets very expensive after a while. Not a lot of night life, some clubs etc, but it's not like a big city.

I think you need to spend more time here (at least another two week vacation) before deciding it's where you want to buy a home. Maybe you'd like the east coast more (Miami area) or further north on the Gulf in Tampa.

Lots of options, don't jump to buy a house in a place you don't know. Rent for a year and explore Florida if you think you want this state. Just my two cents worth.

[lynnc99]

I'm smiling at the comment about Naples nightlife.

Theater and concert options are highly seasonal - no surprise there.

But the other night we were looking for a quick and easy dinner about 9:30 pm. Not in the mood for bar food, not wanting a fancy meal, just connecting over a burger after a long day. Even Mel's Diner was closed at 9 pm!!!

[davephan]

Originally Posted by movin1

We have been here 3 years. As we continue to explore the area, we cannot believe the number of people living in homes that cost over a million dollars in communities that have exorbitant buy in and HOA fees.

I have no idea where they got this kind of money, especially because many of them are not that old and still working. There are only so many doctors, lawyers etc here with high salaries.

Naples and NYC salaries are not the same and the number of IT management jobs here will be a fraction of the number available in any major city. Naples is a retirement community for the very wealthy. There is not a lot of big business here, not that many employers who have high paying salaries.

I think if you dig deeper, you'll find the answer. Many probably ran successful businesses, making money from each employee they hired. Some have higher than average income jobs and lived well below their means, saving and carefully investing their money. You'll never get there if you have a low wage job working for Walmart, or fast food, and live paycheck to paycheck.

In our case, my wife worked in IT and I still work in IT. Each person can earn six figures doing IT work if you work for the right company in certain areas of the country. The IT wages are too low in Florida. You have to live where the wages are better and the cost of living isn't too high. It's possible to live on a small fraction of your income for two or three decades, investing your saved money. That involves some risk, so you need to be careful to make much more money than you lose! Over time, you can accumulate a lot of savings. Eventually, the investments can end up making as much as your higher income jobs. At some point, the investments can start making more money than you're making working you're high income job. At the same time, you're still living well below you're means, not living large. When you retire, you might be able to start living larger, since your money will outlive you, instead of you outliving you're money.

But the process all starts with a good education in the right field. The vast majority of majors in college have poor return on investment. The more difficult majors usually have better returns on investment. You're career might end up being a job you don't like that much, but pays well, following the money, not what you might love to do. If you dig deeper, you'll find out that most millionaires aren't doctors and lawyers. You can get a lot of insights into how most people become millionaires by reading the book, The Millionaire Next Door. You can even read that book for free on the Internet!

[Richard818]

Julesgirl I'm from Lloyd Harbor, LI and am building in Stonecreek (see my earlier post in this thread )feel free to PM me if you want a Long Islanders viewpoint.

[markjames68]

I'm from the North Shore in Suffolk County, so can provide perspective as well Julesgirl if you want to PM me. Lots of positives, and some definite changes depending on what you are looking for. Here a little over 2 years so can provide perspective on "season" too.

[Tripower455]

It's like a Yankee invasion!

I moved to Naples from Massapequa, almost 30 years ago. Most LIers I knew had never heard of Naples back then, and you'd rarely see license plates from the northeast states clogging the road during season. It was all midwest (IL, MI, OH etc.) and lots of Canadian plates, which I don't notice as much of nowadays.

BTW, lots of good advice on this thread. Most of the folks here that I know with a decent amount of money in the bank and expensive homes, didn't earn it in SWFL.

[Richard818]

Here's some general tips to consider for choosing lot location, especially in a new community where you don't have the benefit of an established community analysis. Most of this is common sense but often overlooked. Families with children will typically gravitate towards cul de sacs and dead end streets to avoid vehicle traffic for their children (notice the basketball hoops etc.). Older folks are generally looking to downsize either by house size, lot size or both. Most without children or empty nesters will opt for single story homes. Significantly less pools will be built on smaller lots. Avoid lots located at intersections where the headlights from those exiting their street will shine directly into the glass on the front of your home (may force you to use door/window coverings your would otherwise not want). Our realtor was extremely knowledgeable in the way Naples communities have evolved in this regard and we used his guidance in selecting our lot in Stonecreek.