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Old 07-14-2010, 07:55 AM
 
266 posts, read 256,845 times
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Hi. From reading many of your threads I believe some of you are in a similar situation to us. Mid 50s and plan on working for a little while yet. Most kids out of the house, still have 1 at home presently. We hope to purchase a condo/villa (still not sure of the difference!) to use while vacationing and then eventually move down permanently. We LOVE the area. We had lived in FL (east coast) years ago and come back twice a year to visit family and friends.

Ok, here's our question. The amt of HOA is listed usually around $300 (give or take). Is that every quarter, or every month?

We thought we were only interested in single family homes and that's what we have been keeping our eye on while perusing the web, but now we are changing our minds to a condo style. From reading various threads, Prestancia seems to fit our description. But, we really only want one floor. Any info is greatly appreciated. We are in the planning/researching stage. Thank you very much
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Old 07-14-2010, 08:11 AM
 
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You sound a lot like us! We're looking for a vacation/retirement home and over the past two visits to the area, we've gone from considering single families to townhouses to condos. Felt like I was starting all over again in my search! Villas look like single families, but they are actually split in half, so there's two units. There are also carriage or coach homes that are six units, three on top, three on bottom.

If you look at myfloridahomesmls.com they list the HOA's for each listing as the monthly amount, though I think usually HOA fees are paid quarterly. You'll find golf course communities are often very high, and of course the more amenities offered the higher the HOA. Also, in the same community, a single family home's HOA is usually cheaper than a condo's HOA because your homeowner's insurance is included in the HOA for the condo.
Hope that helps!
Lynne

Last edited by lynne4t; 07-14-2010 at 08:21 AM.. Reason: made the mistake of posting before coffee!
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Old 07-14-2010, 08:59 AM
 
Location: St Augustine
926 posts, read 1,379,143 times
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you get what you pay for Prestancia is a high class gated community with mnay facilities and so pay pay pay. The club house is not part of the hoa . The less facilities inc security the cheaper the hoa
My advice is always rent first see if it fits the bill then buy
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Old 07-14-2010, 09:36 AM
 
266 posts, read 256,845 times
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Lynne, thank you. I really never quite understood the difference between all of the units. And I never knew that the homeowners insurance was included in the HOA. I appreciate the info.

Pete, I agree, renting is a great suggestion and one that I myself have given to people in the past. Right now, though, we aren't moving down permanently, so renting wouldn't be possible. We are both currently working F/T, so we would only be coming down for 1 week vacations a couple times a year until retirement. Then we would sell our home up north and move down there already owning the place.

Any info is appreciated. I didn't realize it was a "high class" condo development. I am open to other community suggestions...
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Old 07-14-2010, 09:37 AM
 
Location: Sarasota, FL
1,645 posts, read 1,794,773 times
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We looked very seriously at Prestancia before buying in the Hamptons. The HOA for Prestancia is very high, and our final conclusion was that it was not worth it.

There is a LOT of property for sale in Prestancia, and I have heard low rumblings about some sort of plumbing issue.

There are some beautiful homes, but for the money, and for the HOA fee (which was higher than $300/mo., actually), I think you might look elsewhere.

When looking at HOA, try not to be too hysterical, though. Some will seem far too high but then reveal themselves to be in line due to roof, maintenance, or insurance inclusions.

This is where a good agent really earns his or her money. Being acquainted with the unique aspects of each area's fees is a must.

Good luck.
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Old 07-14-2010, 12:51 PM
 
266 posts, read 256,845 times
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Rushmore, that is why we are starting our search and investigation early. We want to be well informed. As much as it is possible we will be down to do more hands on research. But, with F/T jobs we are forced to do a lot of work via the computer.

We had been down and looked around Deer Creek and Turtle Rock. Both very nice. Those were single family homes, but we are changing our focus to condos/villas/etc. Not townhouses, as we only want to be on one floor. There is a LOT more to learn about condos, fees, etc. We are interested in all opinions. Thank you
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Old 07-14-2010, 02:23 PM
 
Location: Sarasota, FL
1,645 posts, read 1,794,773 times
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If your decision to change from single family homes (most of which tend toward one-level here in Palmer Ranch) to condos was a maintenance (and maintenance cost) decision, you might want to reconsider.

My experience thus far is that the additional maintenance of a single family home adds a relatively nominal amount to your overhead monthly, and that the quality of life improvement of the SFH outweighs the cost concern.

Condos--even very nice condos--offer apartment living, for the most part. My big old beautiful historic townhouse in Baltimore (and my other townhouses before that) have all been very nice, but, ultimately, very much like living in an apartment.

I haven't seen anything here in Sarasota to indicate that it will be any different.

Here's a worthwhile question: Do you want your own pool?
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Old 07-14-2010, 02:35 PM
 
266 posts, read 256,845 times
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We do not want our own pool but definitely want to live in a community that has a pool. We don't desire the maintainance and cost of our own pool. The reason we are interested in a condo is, as you have stated, not to have maintainance. We are tired of lawn care, tired of watering the yard, worrying about the roof. But, I hear you about the feeling of apt living. I like the idea of villas. Just 2 attached to each other. Someone told me to check out Village Walk for that style. But, nothing has been ruled out. We might find that it pays for us to just buy a single family home and pay for yard care.
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Old 07-14-2010, 02:50 PM
 
Location: Sarasota, FL
1,645 posts, read 1,794,773 times
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Quote:
Originally Posted by saralvr View Post
We do not want our own pool but definitely want to live in a community that has a pool. We don't desire the maintainance and cost of our own pool. The reason we are interested in a condo is, as you have stated, not to have maintainance. We are tired of lawn care, tired of watering the yard, worrying about the roof. But, I hear you about the feeling of apt living. I like the idea of villas. Just 2 attached to each other. Someone told me to check out Village Walk for that style. But, nothing has been ruled out. We might find that it pays for us to just buy a single family home and pay for yard care.
Remember, any condo you end up in will have an amount in the HOA fee for common grounds, so your yard care (which shouldn't amount to much, seriously. I mean, we have a BIG yard and it's only $80/mo.) will likely not cost you any more than you'd be paying, ultimately.

Also, if I am not mistaken, most of the subdivisions have reclaimed water and sprinkler systems throughout, so that might not be the hassle you're think it will be either.

The roof? Well, there's enough inventory so you can just look to buy property with a newer roof. If it's older and you love it, negotiate that price.

The expense to have a pool guy come by once a week is less than the cost of yard maintenance, chemicals included. And the guy has been very cool and diligent.

There's nothing like being able to open your doors up to your lanai so your pool and your living room are sort of together. With the exception of the hottest days, we do this every day.
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Old 07-14-2010, 02:51 PM
 
385 posts, read 720,508 times
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My mom-in-law lives in Prestancia, it's beautiful, a really great community, but the HOA's are high. If money was not a concern I'd say go for it, but I think there are other options out there for you. I am glad someone suggested Village Walk, I second that. I have a property in there and yes you can pick up a 3/3 or 3/4 2 car garage townehome with your own cocktail pool. The maintenance on it is really minimal. There are many amenities as well. The villas are also quite spacious and single story. Some have pools as well. PS. I have giant 3 door sliders in the living room that retract back into the house so it's all open to the pool/lanai area. I think all the homes in VW have them, it's really a nice feature like Rushmore was pointing out.
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