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Old 07-21-2013, 03:34 PM
 
4 posts, read 7,017 times
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Hello
I am looking for a condo in Tampa area for myself and my budget is $70,000 .Is it possible to buy something in a safe area for that price?If you guys can post specific communities I really would appreciate it.I probably will need to rent it for next 3-4 years until I can spend my winters there .

Judy
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Old 07-21-2013, 04:16 PM
 
Location: Tampa, FL
27,798 posts, read 26,196,040 times
Reputation: 14611
will you be able to afford HOAs - most condos have them?

how old are you? will you be willing to move into an over 55+ community?
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Old 07-21-2013, 06:38 PM
 
1,106 posts, read 1,952,202 times
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I'm not sure why you would want to lose money every month for several years before you moved here, as most condo rentals here are cash-flow negative. Once you factor in association fees, property taxes, potential assessments and insurance, you're going to be paying out more every month than you get in.

Also, since you will not be homesteaded, your assessed value (and resulting taxes) can go up an unlimited amount every year.

In addition, you'll probably be paying a local company to manage it for you. More negative cash flow!
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Old 07-21-2013, 08:45 PM
 
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I am paying cash for the condo and yes I can afford the HOA fees and taxes .I am 46 years old but have a teenager don't think the 55+ would be for me.
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Old 07-21-2013, 09:20 PM
 
Location: Terra
2,826 posts, read 3,212,923 times
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Yes but the condo will be bare bones, very small and one bedroom.
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Old 07-21-2013, 10:54 PM
 
Location: 48066
145 posts, read 182,923 times
Reputation: 195
Add another $20k and yes you can. A water view...2b 2r...safe. Like others mentioned hoa must be considered. I am at $489 a month plus annual taxes. Negative cash flow? Yes. I am here now fixing the place up and adding furniture but other than that we will be using it a couple times a year. Siblings will use a few times a year also. We are all good here and are happy we can book a flight and be in clean sheets and a view 3 hours later. We ended up on Sunshine Skyway which is about 3 miles from St. Pete Beach. Definitely not close to anything and we have to drive just to get a taco or a burger.....but...there are other attractions to this area that are very, very, warm and appealing. Again...it takes another $20k from what I have seen around here and experienced first hand like I said.

GL to you! Hope I helped a lil
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Old 07-21-2013, 11:17 PM
 
4 posts, read 7,017 times
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Well I am in not buying for the beach just give me anything about 70 degrees and a good place to shop and I am happy.I plan to rent it for a couple years til I can use it personally.I just figured now would probably be a good time to look seriously .So $90,000 is more realistic for a 2 bedroom 1 bathroom condo?Can you suggest some communities to look at?
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Old 07-22-2013, 03:59 AM
 
Location: Hernando County, FL
8,488 posts, read 17,932,473 times
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Cove Cay in Clearwater, gated golf course community on the bay, 1 bedrooms are $55K to $74K
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Old 07-22-2013, 06:27 AM
Status: "Brexit bound" (set 21 days ago)
 
3,688 posts, read 2,011,560 times
Reputation: 5289
4975 Cobia Dr S E Unit: 4975A, Saint Petersburg, FL 33705 - Home For Sale and Real Estate Listing - realtor.com®
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Old 07-22-2013, 12:58 PM
 
4 posts, read 7,017 times
Reputation: 11
Thanks for links guys will checkout,I need a 2 bedroom as I have a daughter who definitely will be part of the future equation for holidays and such.
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