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Port St. Lucie - Sebastian - Vero Beach St. Lucie, Martin, and Indian River counties (Treasure Coast)
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Old 03-01-2011, 11:09 PM
 
15 posts, read 28,269 times
Reputation: 10

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Needing Housing Cost & Cost of living in North Port -vs- Vero Beach
Is the housing cost higher in or around North Port ? " " "
Is the Insurance & Taxes higher in or around North Port ? " "
.
I love the beautiful beaches of the North Port & Sarasota area but feel that during retirement it may be more affordable around Vero.

What do ya say, can anyone offer some examples ?

Thanks in advance.
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Old 03-03-2011, 07:36 AM
 
Location: Vero Beach
36 posts, read 98,102 times
Reputation: 18
You need to define what type of housing you are looking at. In Vero Beach, your property taxes are slightly under 2% of your purchase price, before Homestaed Exemption. If you are on the barrier island, your insurance is MUCH higher tha if you are on the mainland. There are many areas in Vero that offer great housing at surprisingly affordable prices, but without knowing what size, type housing and where, it's impossible to answer that question. I have also helped a friend buy a house in the Englewood/Rotonda area South of Sarasota, and I know North Port has some great buys too, but it's very East so further from the beaches etc. If I can help you at all in Vero Beach, let me know.
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Old 03-03-2011, 09:06 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,835,169 times
Reputation: 2874
Quote:
Originally Posted by Frontosaguy View Post
Needing Housing Cost & Cost of living in North Port -vs- Vero Beach
Is the housing cost higher in or around North Port ? " " "
Is the Insurance & Taxes higher in or around North Port ? " "
.
I love the beautiful beaches of the North Port & Sarasota area but feel that during retirement it may be more affordable around Vero.

What do ya say, can anyone offer some examples ?

Thanks in advance.
I live in North Port so I can probably answer most question you might have about the area. For cost of living here's a calculator that might help: Cost of living: Compare prices in two cities - CNNMoney.com

My home is built in 2003 and is 2127 sq ft under air and I pay $1656 per year for taxes. The county has my home assessed at $112k and I do also get homestead exemption.

On the insurance question, here are some things that insurance agents take into consideration-the age of the home, style of roof(hip roof is best), how close the home is to a natural body of water or fire hydrant, how the roof is tied on, if the home has hurricane shutters or impact resistant glass, if the home has a Miami-Dade rated garage door, if the home is frame or block. These are just a few of the criteria they use to give an insurance quote. There are more but these are some of the biggies.

Another thing that's important to look at when talking insurance is the www.MySafeFLoridaHome.com program. It's important to have a wind mitigation report done on the home. This usually costs around $150 and some home inspectors include it in the home inspection for free. I'll give you an example of how this can effect your insurance. I live in North Port (southern Sarasota county). My home was built in 2003, has hurricane shutters, 2127 under air, hip roof, concrete block, close to a fire hydrant, no pool. Before the inspection my insurance was $1987 per year and after the inspection it was $727. Big difference.

Here's website that talks about insurance that may be of help: Compare Homeowner's Insurance Rates

Then you have flood insurance. 95% of North Port is not in a flood zone. There is a very specific area that is. The other areas of Sarasota and Charlotte county would be hit or miss. Generally west of US 41 and on the islands would be more likely to require flood insurance. The only way to determine the amount of the insurance is to have an elevation certificate. This would show the elevation of the home and what flood zone the home is in (if any). If the previous owner had home owners insurance and had a mortgage they probably have an elevation certificate. I always recommend getting flood insurance even if your home is not in a flood zone. If it's not, the price would be much cheaper for the insurance.
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Old 03-07-2011, 10:25 PM
 
15 posts, read 28,269 times
Reputation: 10
SoFLgal, thanks for the info.

Question: Is the North Port area "overall " more expensive than Vero ??
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