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Old 05-21-2009, 08:46 PM
Location: New York, Westchester
506 posts, read 2,127,456 times
Reputation: 235


looking to buy on the water...a house looking to spend around 500-600k.....
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Old 05-22-2009, 03:19 AM
Location: Hernando County, FL
8,488 posts, read 18,897,288 times
Reputation: 5397
You could definitely find one up this way if you really wanted to spend that much. You could find a very nice home for alot less though.

Hell, for $500-$600K you could get a house on a private island up here.

Up this way being Hernando and Citrus county.

It really depends what you are looking for though and what you want to be near. Need a little more info and I am sure others will chime in.
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Old 05-22-2009, 05:31 AM
26,590 posts, read 57,344,491 times
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Do you want ocean/gulf or is the Intercoastal OK?

Do you need a boat dock? Deep water? We need more info to help you.
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Old 05-23-2009, 01:40 PM
Location: Foothills of the Appalachians
440 posts, read 2,298,152 times
Reputation: 185
We certainly can't speak for other areas of Florida but currently in our region, the Emerald Coast, we have around 200 available waterfront properties in your price range or less.

As the other posters have stated, having more specifics would be helpful in narrowing down the search for you. We have so much water around us -- a giant Bay, Coastal Dune Lakes, Lagoons, Bayous, Canals, Harbors, Creeks and of course the spectacular Gulf of Mexico beaches. Without knowing details of what exactly you are seeking, it's difficult to tell you exactly what your options would be in our region.
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Old 05-24-2009, 09:08 AM
110 posts, read 515,707 times
Reputation: 173
Arrow Cocoa Beach is a well kept secret

You did not say what kind of housing you are seeking. A stand alone home on the ocean is going to be difficult in that price range not to mention the upkeep and insurance. You can however easily get a large 2000-3000 sq ft condo.

I went through the same decision process about 1 year ago. I followed the housing prices up and down both coasts. We wanted to be on the water. When you walk into a waterfront property, it is dramatic to sit there and see the ocean. It is a never ending source of fascination. Nothing compares to being able to see there and watch the sunrise and sunset. Another factor for us was ease of access to an airport since this was to be a vacation home. I will retire there someday but not for another 10+ years. It is an investment in the future. This is a great time to buy over the next year or so given the depressed state of the real estate market and the tight lending standards. The market may decline another 10-15% but it is impossible to time the real estate market perfectly.

We settled on South Cocoa Beach. It is very quiet there. Many oceanfront units have a view of both the Atlantic Ocean as well as the Banana River which is 1 mile wide there. It gives both sunrise and sunset views. It is not overbuilt like many other places on the East and West coasts. You can fly to either Orlando International or Melbourne Airports. There are a million flights going in and out of Orlando each day so the fares are competitive. Cocoa Beach gave us the best "bang for the buck" compared to Southwest Florida. The beach is lovely. It has a 50 yea guarantee due to the dredging of the cruise port in Cape Canaveral. You can watch rocket launches from your balcony. The school system is top notch which should help to protect home values. On the negative side, the winding down of the shuttle program may be a negative draw on the local economy over the next 5-10 years. It is the closest beach to Orlando. We love the proximity of Orlando and Disney. We look forward to using the condo as a family meeting place.

To summarize the advantages of Cocoa Beach

Not overly developed
Proximity of Orlando
Mangroves on the Banana River
Merritt Island National Wildlife Refuge
Proximity of Cape Canaveral
Proximity of the Cruise Port
Excellent public school system

I am personally not attracted to the dense population areas on the East coast such as Fort Lauderdale and Miami with high rises blocking the ocean view. I think that places such as Sarasota and Sanibel are absolutely beautiful but it costs 1 million dollars for a good sized waterfront unit. The panhandle has gorgeous beaches but airport access is more difficult, the winters are colder and hurricanes are more common the the central- northeast coast.

I would recommend that you follow the MLS listings to get an idea of price. Note that the best deals rarely make it to the MLS. Once you have settled on an area get yourself a good real estate agent who knows the area cold. This should be an agent who primarily functions as a buyer's broker. They will be able to identify the great property deals. There are a lot of them these days.
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