Buying Real Estate In Miami - Sea Level Rise Question (Miami Beach: oceanfront, condos)

[StarfishKey]

There are already multiple threads in the Miami and Florida forums covering this topic, and addressing many of your questions. Do some searches and see what's out there.

If you can afford it, and don't need the clubbing lifestyle, you might really enjoy the Florida Keys. It is a very liberal place, with a mix of cultures but a strong Cuban and Caribbean influence, and is like nowhere else in the US. Although we are technically part of the US, the Keys consider themselves to be a separate nation - the Conch Republic - and even have a separate passport, which you can look up the rather weird and fascinating story to. It's a great place for a vacation home, with plenty of waterfront properties. Although the Keys are on the whole less Cuban and South American than Miami, they have a good balance, and there are specific neighborhoods in the Upper Keys that are predominantly Spanish-speaking. Plus, Miami is about an hour drive away. So if you like watersports and quiet, as opposed to the loud nightlife of Miami, the Keys might be a better choice. If on the other hand you want to be out clubbing until 2AM every night, stick with Miami. Even Key West is more of a bar scene than a club scene.

FEMA flood insurance is not your biggest problem, if you buy a legal above-flood residence. The biggest expense for waterfront living is Citizen's govt wind insurance. Expect $2000-$6000/yr, depending on how new the residence is.

You might also be happy in the Ft. Lauderdale area, which is a good mix of people and again a more liberal environment than Miami.

[Sunbiz1]

//www.city-data.com/forum/flori...s-concern.html

The pumps can only be improved to a certain point.

[OyCrumbler]

Originally Posted by ChristopherATL

Thank you all for your replies. I am in no way looking to spark debate on the merits of climate change and sea level rise research. It is quite clear that it is happening at an alarming rate.

We have been in Atlanta for 7 years and we love being here. However, we were looking for a vacation home to get away from the city without plunging into rural coastal Georgia or Northern Florida. My husband is Brazilian and I have always felt somehow connected to the Latin community. We thought Miami would be a good place for a U.S. based home with a latin country feel while relatively close and easily accessible from Hartsfield. After mulling it over for a year now, our only concern is what is actually happening, from a local standpoint, in terms of development on or close to the beach and waterways, the governmental approach to investigating the potential problems and planning to get ahead of it as well as the general atmosphere of those who have bought or are buying in Miami.

Miami seems to still be building high rises on or close to the beach. Do you think developers are ignoring the warning or is there more to the story that is not being hyped?

Are insurance companies jacking up rates because of this issue?

Is flood insurance available in all areas of the coast?

Are any of you seeing depreciating home values directly or indirectly because of this?

Thanks!

Well, it sounds like you guys are looking for this in the near term rather than investing for a retirement payoff several decades away, in which case, why not enjoy it now?

[ChristopherATL]

Originally Posted by OyCrumbler

Well, it sounds like you guys are looking for this in the near term rather than investing for a retirement payoff several decades away, in which case, why not enjoy it now?

We are adamantly preparing for our two adopted children to have some security once we are gone as well. We would like to be able to leave them something that they and their children can enjoy and financially benefit.

[popcorn247]

Have you all forgotten the flooding that took place in Miami Beach this past fall? There were areas inundated with salt water coming from the ground, not the shoreline. It went on for days and came back a second time.

[Astral_Weeks]

^^This is an article that focuses exclusively on Miami/Miami Beach and sea level rise. Definitely worth a read for anyone considering buying real estate in Miami. Discusses recent flooding in Miami Beach and the city's efforts to mitigate it.

The Siege of Miami - The New Yorker

[Majami]

Originally Posted by Astral_Weeks

^^This is an article that focuses exclusively on Miami/Miami Beach and sea level rise. Definitely worth a read for anyone considering buying real estate in Miami. Discusses recent flooding in Miami Beach and the city's efforts to mitigate it.

The Siege of Miami - The New Yorker

As someone who lives in Miami Beach I can say that article is hilariously overblown and shoddy journalism, oh and btw :

I was out there this morning walking my dog, and I saw fish in it. Where the heck did the fish come from? They came from underground. We have fish that travel underground!

Lol, room-temperature IQ stuff right here.

[Majami]

Originally Posted by StarfishKey

There are already multiple threads in the Miami and Florida forums covering this topic, and addressing many of your questions. Do some searches and see what's out there.

If you can afford it, and don't need the clubbing lifestyle, you might really enjoy the Florida Keys. It is a very liberal place, with a mix of cultures but a strong Cuban and Caribbean influence, and is like nowhere else in the US. Although we are technically part of the US, the Keys consider themselves to be a separate nation - the Conch Republic - and even have a separate passport, which you can look up the rather weird and fascinating story to. It's a great place for a vacation home, with plenty of waterfront properties. Although the Keys are on the whole less Cuban and South American than Miami, they have a good balance, and there are specific neighborhoods in the Upper Keys that are predominantly Spanish-speaking. Plus, Miami is about an hour drive away. So if you like watersports and quiet, as opposed to the loud nightlife of Miami, the Keys might be a better choice. If on the other hand you want to be out clubbing until 2AM every night, stick with Miami. Even Key West is more of a bar scene than a club scene.

FEMA flood insurance is not your biggest problem, if you buy a legal above-flood residence. The biggest expense for waterfront living is Citizen's govt wind insurance. Expect $2000-$6000/yr, depending on how new the residence is.

You might also be happy in the Ft. Lauderdale area, which is a good mix of people and again a more liberal environment than Miami.

The Keys and Miami appeal to two completely different sets of people.

The Keys - mostly older folk who love to fish, retirees.
The Miami - some older folk, but many young professionals and young people in general who wish to enjoy a life on the beach, with warm weather, good nightlife and food.

[Astral_Weeks]

Originally Posted by Majami

As someone who lives in Miami Beach I can say that article is hilariously overblown and shoddy journalism, oh and btw :

Lol, room-temperature IQ stuff right here.

Well, I agree the New Yorker is not a scientific publication but the article references/interviews people like the chairman of the University of Miami’s geological-sciences department. With a degree from Princeton and a doctorate from Johns Hopkins he is not exactly a low IQ guy.

Experts on Environmental Disasters | University of Miami

[Majami]

Originally Posted by Astral_Weeks

Well, I agree the New Yorker is not a scientific publication but the article references/interviews people like the chairman of the University of Miami’s geological-sciences department. With a degree from Princeton and a doctorate from Johns Hopkins he is not exactly a low IQ guy.

Experts on Environmental Disasters | University of Miami

So you agree, there are fish that go underground