Looking to move to Florida in "hopefully" near future; advise (Weston: renter, HOA fees)

[bale002]

Originally Posted by gsurface

What would health insurance for a family of 4 look like?

It would look sickening.

Seriously, it all depends on the deductible: the higher the deductible, the lower the monthly premium, and vice versa.

With deductible of around $12,000 per year, yearly premium for family of four could be around $14,400, or $1200 per month, which could include prescription drugs. Still, that's basically catastrophic health insurance for otherwise healthy people.

If you expect frequent health visits for ongoing treatment, then lower deductible/higher premium is probably the way to go.

Of course, if you are under some kind of corporate umbrella or have low enough income to qualify for subsidies, then the math could change, but in the latter case you probably wouldn't be cold-calling, as it were, into a place as expensive as southern Florida.

Good Luck!

[gsurface]

Originally Posted by bale002

It would look sickening.

Seriously, it all depends on the deductible: the higher the deductible, the lower the monthly premium, and vice versa.

With deductible of around $12,000 per year, yearly premium for family of four could be around $14,400, or $1200 per month, which could include prescription drugs. Still, that's basically catastrophic health insurance for otherwise healthy people.

If you expect frequent health visits for ongoing treatment, then lower deductible/higher premium is probably the way to go.

Of course, if you are under some kind of corporate umbrella or have low enough income to qualify for subsidies, then the math could change, but in the latter case you probably wouldn't be cold-calling, as it were, into a place as expensive as southern Florida.

Good Luck!

Wow, lots to think about.....Any engineers here move to Florida and have a hard time finding a full time job? Specifically electrical engineer?

[kmarc]

Originally Posted by gsurface

Wow, lots to think about.....Any engineers here move to Florida and have a hard time finding a full time job? Specifically electrical engineer?

I'm not an electrical engineer, but I wouldn't think you'd have a hard time finding a full time job in that field. Just don't expect to be paid as you would in New York. You have to manage your expectations. Sometimes people from up north expect to be paid as they would where they used to live. And expect their cost of living to be significantly lower than where they used to live. Florida is a lot more expensive to live in than it used to be.

[PamelaIamela]

I think some of these numbers are very inflated.
I live in SoFla and searching townhomes and condos for rent shows me tons of 3 bedrooms listed in the 2000-2600/ mo range in Weston, but you can check this stuff out yourself, right?
Add in ~500 /mo for utilities, cable-internet, phone, renters insurance, etc.
I have a 2016 Lexus and my $1k deductible insurance runs $115/ month w Geico.
If you have multiple cars and/or payments, add that in to the mix.
Your health insurance is a wild card.... plan accordingly.
How much you spend on other stuff like food, entertainment, sports, church, etc. depends on your lifestyle.
And there is no state income tax; your federal burden will be better known to you soon.

If it took over 11k a month to support a family of four in Florida we'd have very few families living here.
Good luck.

[Marc Middleton]

Originally Posted by PamelaIamela

I think some of these numbers are very inflated.
I live in SoFla and searching townhomes and condos for rent shows me tons of 3 bedrooms listed in the 2000-2600/ mo range in Weston, but you can check this stuff out yourself, right?.

I was giving him actual numbers from a person who does this for a living. Not to mention, I was even looking for the exact same thing just a few months ago.

You won't get a 3 bed townhome in Weston for $2k month, sorry. $2600? Yes, that's what I said, $2500+ for a townhome and $3k/mo for a single family home. Minimum! And much less to choose from once May/June hits until Sept.

Most houses in A-rated school zones are $2500+ mo no matter where in Dade & Broward county.

Regarding $11k/mo for a family of 4, easily, but you can do it for less. At least $5500/mo just to live (not including any fun or vacations).

[bale002]

Originally Posted by Marc Middleton

I was giving him actual numbers from a person who does this for a living. Not to mention, I was even looking for the exact same thing just a few months ago.

You won't get a 3 bed townhome in Weston for $2k month, sorry. $2600? Yes, that's what I said, $2500+ for a townhome and $3k/mo for a single family home. Minimum! And much less to choose from once May/June hits until Sept.

Most houses in A-rated school zones are $2500+ mo no matter where in Dade & Broward county.

Regarding $11k/mo for a family of 4, easily, but you can do it for less. At least $5500/mo just to live (not including any fun or vacations).

I also stand by my numbers, based on actual experience and budgeting that is careful but not harsh.

Yes, it is possible for less than around $11k per month, if:

1) as mentioned, health insurance premiums are part of an overall salary package;

2) no vacations, almost no "fun" (e.g. basic entertainment, private-league, sports teams, music lessons, incidental expenses even at public schools), as well as no tutoring;

3) no unexpected expenses like medical, car repairs, medical, house repairs, medical, especially if high deductible insurance, then other, other, other, and other;

4) other types of insurance besides house and medical;

5) other (e.g. furniture, clothing, other).

And the $11k figure takes into account hardly ever going out to eat, and those few times mostly fast-food type places, maybe once or twice a year an expensive restaurant.

It would take military/monk-type discipline to keep it significantly under $10k-$11k per month - and with a family of four, that ain't happening, it goes against nature - and/or all good luck with no unexpected expenses.

[Marc Middleton]

Not sure why you are quoting me. I was disputing the person who said my rental rates were too high regarding the Weston Market.

[bale002]

Originally Posted by Marc Middleton

Not sure why you are quoting me. I was disputing the person who said my rental rates were too high regarding the Weston Market.

To agree with you and emphasize the point with more concrete examples.

[pslhomie]

Yeah some places by the time you pay first, last, security fee and now HOA deposit it can cost over 12k before you can get the keys to the place. It's almost worth it to just go ahead and buy a house than to rent it.

[Marc Middleton]

Originally Posted by pslhomie

Yeah some places by the time you pay first, last, security fee and now HOA deposit it can cost over 12k before you can get the keys to the place. It's almost worth it to just go ahead and buy a house than to rent it.

Great idea!!! ;-)

95% conventional loan baby!!