exploring the idea of buying a vacation condo in the Tampa Bay area (Clearwater: sales, real estate)

[amitaghosh]

Hi there,
So, after declining a job offer to move to San Diego, CA I have been fairly depressed about being land locked in Cincinnati, OH. So, my husband has agreed that we can "seriously explore" the idea of purchasing a vacation condo/townhome in Florida. My experience with Florida has only been with Destin/ Panama Beach area. Which I love, for its beaches and beautiful new homes etc. However, there is not much else to do besides the beach there.


Now to help you understand who we are and what we are looking for.


We are a married couple with one younger kid, (9) and two dogs. We love the white sandy beaches of the gulf coast and got married on it. However, we are not fishing enthusiasts or such. We are urban, we like coffee shops, interesting bookstores, art galleries, museums, theater, ethnic foods and non-chain restaurants. We like being able to walk to these places, or drive a short distance. We like relaxing and laid back lifestyle but are nowhere close to retiring and do not want to be in a retirement type area either. Also, we want to be able to rent our home out when we are not there, so it needs to be in an area that is tourist friendly and people would want to rent at.


Given these criterions where in the Pinellas county and Tampa Bay area would you recommend we look at for our vacation home? St. Pete, Clearwater, Largo, Dunedin, Tarpon Springs, or Sarasota area.
Thanks you all.

[jeno23]

Consult publications like Gulf Life and other resources online...forget the travel websites and opinion-based sites because there is too much personal bias, and of course surreptitious real estate sales people.

I would say however, do not buy into the condo market. Instead look at SF homes in nice areas. Like everything, it depends on your budget and you plans for the future. Lots of considerations to be made. Take your time. Tampa Bay is quite diverse in housing. Keep in mind, Tampa itself has no white sandy beaches. Those are in Pinellas County, Manatee County, Sarasota County and Collier county . None of it is cheap at present, and frankly it's now overpriced once again.

Again, there are lots of locations but money is the driver. I haven't seen any beachy type property worth a crap under 500k...yes a few condos, but the fees and special assessments will KILL you.

[jeno23]

BTW, I used to live in LaJolla. I wouldn't have turned down that position. I moved however fulltime back to Sarasota County.

[sinatras]

Originally Posted by jeno23

BTW, I used to live in LaJolla. I wouldn't have turned down that position. I moved however fulltime back to Sarasota County.

You moved from La Jolla to Sarasota? WHY!!!???
La Jolla is amazing. Altho not cheap.

[jeno23]

Originally Posted by sinatras

You moved from La Jolla to Sarasota? WHY!!!???
La Jolla is amazing. Altho not cheap.

Why" easy...I own in both places, but California has gone off the deep end with leftist government and social constructs. They have lost their minds. They now are just simply liberal, they have turned into total leftists. Besides that, it's a beautiful place and nice people. Even Sarasota now has some whacky people that didn't exist in the region 25 years ago.

So that's my answer to your question.

[FlaNativeGrl]

Originally Posted by jeno23

Consult publications like Gulf Life and other resources online...forget the travel websites and opinion-based sites because there is too much personal bias, and of course surreptitious real estate sales people.

I would say however, do not buy into the condo market. Instead look at SF homes in nice areas. Like everything, it depends on your budget and you plans for the future. Lots of considerations to be made. Take your time. Tampa Bay is quite diverse in housing. Keep in mind, Tampa itself has no white sandy beaches. Those are in Pinellas County, Manatee County, Sarasota County and Collier county . None of it is cheap at present, and frankly it's now overpriced once again.

Again, there are lots of locations but money is the driver. I haven't seen any beachy type property worth a crap under 500k...yes a few condos, but the fees and special assessments will KILL you.

This is really inaccurate information...why not buy into the condo market if it's a good deal? It's maintenance free which would be perfect for a vacationer or part time resident. Pinellas County has some of the top rated beaches and there are locations in St. Pete which are a good buy. Special assessments are not normal and only apply to those buildings that either don't have the reserves to pay for repairs/upgrades or elect not to pay out of their reserves for whatever reason. a SFH is NOT a good fit for someone who is just using it for vacations.

[FlaNativeGrl]

Originally Posted by amitaghosh

Hi there,
So, after declining a job offer to move to San Diego, CA I have been fairly depressed about being land locked in Cincinnati, OH. So, my husband has agreed that we can "seriously explore" the idea of purchasing a vacation condo/townhome in Florida. My experience with Florida has only been with Destin/ Panama Beach area. Which I love, for its beaches and beautiful new homes etc. However, there is not much else to do besides the beach there.


Now to help you understand who we are and what we are looking for.


We are a married couple with one younger kid, (9) and two dogs. We love the white sandy beaches of the gulf coast and got married on it. However, we are not fishing enthusiasts or such. We are urban, we like coffee shops, interesting bookstores, art galleries, museums, theater, ethnic foods and non-chain restaurants. We like being able to walk to these places, or drive a short distance. We like relaxing and laid back lifestyle but are nowhere close to retiring and do not want to be in a retirement type area either. Also, we want to be able to rent our home out when we are not there, so it needs to be in an area that is tourist friendly and people would want to rent at.


Given these criterions where in the Pinellas county and Tampa Bay area would you recommend we look at for our vacation home? St. Pete, Clearwater, Largo, Dunedin, Tarpon Springs, or Sarasota area.
Thanks you all.

Absolutely consider St. Pete! Depending on your budget, you can find a 2 bedroom condo near downtown St. Pete that will be within walking distance to antique shops, art galleries, museums, amazing restaurants and bars, and unique shopping. I highly recommend exploring Central Ave and The Edge district. You'll be within a 20 min drive to the white sandy beaches of Pass A Grille or St. Pete which were named one of the top beaches. I would consider it rental friendly and have seen many people do AirBnb successfully there.

[sinatras]

Yup, yes, exactly and no doubt! Reps!

My mom has clients calling her all the time crying about their assessments and how they have to take out loans to pay for them. Sad!

[MortonR]

Originally Posted by JimDesantis

You sell real estate, any real estate is a good buy in your book. I'm a long time banker and investor in Tampa Bay region, so I'm calling BS on the condo market. I have no axe to grind, you do.

SF homes are generally always a better investment. Second, condo highazz fees NEVER go down, and special assessments are INEVITABLE. Third, the management under the Condo Boards tend to be over zealous and at time downright abusive. You don't have to deal with condoNazis when you invest in a SF or cluster home with no Horizontal Property Regime.

Finally, you can certainly lease your own home in most areas without much restriction or noses in the process, especially buying in an area with NO HOA's which can just as bad as Condo Boards.

With condos you only own the airspace within the walls, nothing more...zip...might as well just rent a furnished turnkey seasonal cluster, paired villa or casita.

^^^^^^^^
Not to pile on, but what he said!!!!

Condos are the biggest real estate scam there ever was, in my opinion. And that’s from someone who knows RCI directly, too.

RM

[Pragmaticus]

May be this is not what you are asking but why even bother to buy a place. You would be tying yourself to one location and all the headache trying to be a remote land lord/lady. Every time buying a second home crosses my mind while visiting a new place, I do a quick calculation and can't make the financial justification sinking money on a house. I would simply travel wherever I want to every year than tied to a location and spend boat load of money. Thanks to the many rental websites you have great selection at great locations. You can even travel abroad. I will never buy vacation home even if I can afford. To each, their own of course.

Best of luck whatever you decide.