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Old 01-09-2010, 09:34 AM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,526,838 times
Reputation: 3530

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We are sitting in a rental (single family home) in Ft. Myers Beach. The area is nice and the beach is across the street (about a block away). However it is cold and raining today. It would be a good day to look for a Florida vacation home.

I can see immediately that we would not be interested in this immediate area. Too crowded (too much traffic) and too expensive. Besides what I really am interested in is a townhome or condo in a gated community.

Here is what we recently purchased in Murrells Inlet, SC:

A 3 bedroom/2.5 bath new townhouse in a nice community - $145,000 with a $300 HOA and $2K a year taxes. One car garage. It is an easy 6 mile drive to a really nice state park on the ocean. The area is quiet but convienient to lots of stores and places to eat.

If we could find the same kind of place and deal in SW Florida, we would be tempted.

Suggestions?
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Old 01-10-2010, 04:20 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,871,985 times
Reputation: 2877
Go farther north and look in Sarasota county-North Port, Venice, Sarasota.

Good luck!
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Old 01-10-2010, 04:38 PM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,526,838 times
Reputation: 3530
Quote:
Originally Posted by SoFLGal View Post
Go farther north and look in Sarasota county-North Port, Venice, Sarasota.

Good luck!
OK, thanks. But why? Better location? More bang for the buck??
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Old 01-10-2010, 05:33 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,871,985 times
Reputation: 2877
More bang for your buck in North Port and not real crowded. Sarasota county in general is a really nice location.
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Old 01-10-2010, 06:46 PM
 
Location: Fort Myers FL/ Ottawa ON
1,210 posts, read 3,277,380 times
Reputation: 494
take a peek at Paseo. From Bell Tower at the trail drive east on Daniels 5 minutes till you get past the slough, and once you see the publix on the right and the 75 up ahead, turn left at the 7 eleven on Palimino, go a mile, then left on Penzance.

very different
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Old 01-10-2010, 07:48 PM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,526,838 times
Reputation: 3530
Quote:
Originally Posted by kroeran View Post
take a peek at Paseo. From Bell Tower at the trail drive east on Daniels 5 minutes till you get past the slough, and once you see the publix on the right and the 75 up ahead, turn left at the 7 eleven on Palimino, go a mile, then left on Penzance.

very different
Will do. Thanks.

How about "Bonita Beachwalk", Bonita Beach/Springs area (not yet sure which is what)? I am seeing condo listings there that I like. I like the idea of being near Lovers Key State Park.......
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Old 01-10-2010, 07:55 PM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,526,838 times
Reputation: 3530
I just looked at Paseo on line. A little too far from the ocean for the price (I'm sure they are nice though). Question: taxes on a 2 br 2.5 bath one car garage condo were listed at $6,024 a year. Is that typical for SW Florida? I don't really want to factor in $500 a month for taxes!
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Old 01-10-2010, 08:43 PM
 
Location: Fort Myers FL/ Ottawa ON
1,210 posts, read 3,277,380 times
Reputation: 494
Its 20 minutes to the beach, 30 to Sanibel.

the taxes are fixed to the previous years average assessment for that type and size of property. At the cheaper end of the spectrum at Paseo ($170k, 2.5 bath 2 bed townhouse) the taxes are $4500 with HOA of $350 per month - there are significant facilities to pay for. Paseo works if you are a tennis person who would rather be able to walk with your drink to the pool, rather than having the beach very close. For us the beach is for afternoon outings a couple of times a week.

Property Taxes and HOA and insurance are the kicker with Florida real estate, especially for properties that are not your primary residence which do not benefit from the 3% per year increase cap and homestead discount.

You can get around this partially by buying outside of an incorporated area and not buying in a condo or HOA zone. The downside is possible isolation and neighbours who leave junk cars in the yard.

You can also think about renting on an annual lease basis, which can cost about the same as renting by the month during the high season for a few months.

Florida is expensive and if you don't research the pitfalls, risky. The other side of it is that there is nowhere else on the planet with the physical and institutional infrastructure, great weather and interesting topography and animal life.
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Old 01-11-2010, 06:12 AM
 
Location: Lakewood NJ/Murrells Inlet SC/ N. Naples FL/Swainton NJ
4,025 posts, read 6,526,838 times
Reputation: 3530
Thanks Kroeran. A very helpful reply. We could pay cash for something $150K or below. My goal would be to find something in a nice area that would cost us $1,000 a month or less. If we are pay $500 for taxes, $350 for HOA and maybe some insurance cost, that does not leave much for a mortgage......
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Old 01-11-2010, 07:05 AM
 
Location: The Conterminous United States
22,584 posts, read 54,159,097 times
Reputation: 13614
Quote:
Originally Posted by kroeran View Post
Its 20 minutes to the beach, 30 to Sanibel.

the taxes are fixed to the previous years average assessment for that type and size of property. At the cheaper end of the spectrum at Paseo ($170k, 2.5 bath 2 bed townhouse) the taxes are $4500 with HOA of $350 per month - there are significant facilities to pay for. Paseo works if you are a tennis person who would rather be able to walk with your drink to the pool, rather than having the beach very close. For us the beach is for afternoon outings a couple of times a week.

Property Taxes and HOA and insurance are the kicker with Florida real estate, especially for properties that are not your primary residence which do not benefit from the 3% per year increase cap and homestead discount.

You can get around this partially by buying outside of an incorporated area and not buying in a condo or HOA zone. Are you saying that by buying in, say, Estero you won't pay property tax or will get a homestead exemption?The downside is possible isolation and neighbours who leave junk cars in the yard.

You can also think about renting on an annual lease basis, which can cost about the same as renting by the month during the high season for a few months.

Florida is expensive and if you don't research the pitfalls, risky. The other side of it is that there is nowhere else on the planet with the physical and institutional infrastructure, great weather and interesting topography and animal life.
If you are, it's not true. You won't pay a HOA fee if you don't buy a condo or in a
HOA community. But I imagine that the OP knows that.
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