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Old 12-12-2007, 11:11 AM
 
4 posts, read 12,071 times
Reputation: 10

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Am looking to buy a holiday home in Florida with two other couples. We are all from London, England.

Undecided on location. Would prefer to be no more than 10 miles from a beach and no more than one hour drive from an international airport. We have been thinking of Palm Beach area Boca etc. Our budget is $300,000 - $450,000. Ideally we would like a 4 bedroom, 3 bathroom house in a nice sub division.

Concerned about high proeprty taxes. In UK for this price property we pay about $1500 a year. Also, how much would we have to pay for building/hurricane insurance. I also dont know how your property tax system works. Is it revalued when you buy the house?

Any ideas on location?
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Old 12-12-2007, 11:17 AM
 
Location: Houston, Tx
3,644 posts, read 6,305,063 times
Reputation: 1633
Property taxes will be about 2% of the price of the house so for a typical $400,000 house you will pay around $8,000 in taxes. Hurricane insurance will be anywhere from 1,600 for a new house to 4,000 for an old house.
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Old 12-12-2007, 11:59 AM
 
Location: Atlanta/Miami
109 posts, read 485,512 times
Reputation: 29
Quote:
Originally Posted by howard0181 View Post
Am looking to buy a holiday home in Florida with two other couples. We are all from London, England.

Undecided on location. Would prefer to be no more than 10 miles from a beach and no more than one hour drive from an international airport. We have been thinking of Palm Beach area Boca etc. Our budget is $300,000 - $450,000. Ideally we would like a 4 bedroom, 3 bathroom house in a nice sub division.

Concerned about high proeprty taxes. In UK for this price property we pay about $1500 a year. Also, how much would we have to pay for building/hurricane insurance. I also dont know how your property tax system works. Is it revalued when you buy the house?

Any ideas on location?
Thats a great plan if you can get close enough to the beach. You may also want to consider condo/townhome that is walking distance to the beach. The reasoning here is that you could contract a broker to lease it as a vacation rental when your party isn't using it. This way you can offset some of the annual cost of maintaining the property. Just a thought.

.
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Old 12-20-2007, 07:25 PM
 
Location: Fort Lauderdale
2 posts, read 4,653 times
Reputation: 10
You may want to look at a community called The Villas at Harbor Isles it is a new community built in 2005 that has 2 and 3 bedroom townhouses. It is minutes to Fort Lauderdale Hollywood International Airport and 10 minutes to the beach. The prices are in the mid - $200,000 range so at the price taxes would be roughly $5000 a year and insurance is included in your monthly maintenance dues. Hope this is helpful.
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