Affordable waterfront living in Sarasota? (Tampa, Clearwater: rent, HOA fees, insurance)

[alfie1960]

We’re a late 50/early 60 multiracial gay couple. I’m a meeting planner, my husband is a florist
Retirement is about 10 years from now and we know that we cannot and don’t want spend retirement in uptown Manhattan, New York City

We also we could not afford Hawaii and we know that we may even consider working part time during our retirement years

We want warmer weather and proximity to the beach but we also like the convenience of a city, where you could relatively walk to shopping, restaurants, or even travel short distances to get to theaters, galleries, concerts, etc.

I don’t drive myself and would avoid it as much as possible

Is it even realistic to assume that you could buy a waterfront 2 bedroom/2 bath condo or house in Sarasota, including keys and/or Inmediate neighbor cities for about 300k now?

I would hope we should be able to get more than that when we sell the 1bd/1bth co-op in 10 years, which costed us 287K

We would likely rent for a year until we know the city well enough before we commit to buy

At this time, we are only considering FL and not any other southern state

Alfie

I appreciate your opinion

[Sunshine Rules]

Is it even realistic to assume that you could buy a waterfront 2 bedroom/2 bath condo or house in Sarasota, including keys and/or In mediate neighbor cities for about 300k now?



Hello,

If by waterfront you mean gulf view, then the answer is very doubtful as even 1 bdrm/1 bath condos on the parking lot side of the buildings on Siesta Key go for around $300k.

On Longboat Key you might find a small 1960's or early 70's condo or villa with access to a private beach for slightly under $300k. Keep in mind that many of these older condos will have monthly fees running in the $800 range due to the high cost of flood and building insurance rates. And Longboat Key has little in the way of shopping or restaurants, only 1 grocery store.

For either key it is advisable to have your own transportation as public transportation is not the greatest.

Downtown Sarasota is more walkable, but you will again be looking at 1 bdrm units or tiny 2 bdrm units (under 1000 sq ft) and no water views. The tradeoff is that you will have better access to restaurants, art galleries, shops and events that go on in downtown Sarasota (especially during the winter season months of December - April). Plus, downtown Sarasota has 2 great bayside parks.


You might have more luck finding the walkability and vibe you're looking for on Anna Maria Island, which is just north of Longboat Key and west of Bradenton. Anna Maria, Coquina, Bradenton Beach, Holmes Beach.
Larger selection of condos priced under $300k, most will have access to the nearby public beaches. Some will actually have water views of either the gulf or intercoastal. Sorry, but homes on AMI will be priced over your budget.

Bridge Street on AMI is a very popular spot for events during the winter months. Lots of great, local restaurants. Plus there's a trolley (bus) that runs up and down the island. Great public beaches on AMI, my favorite is on the south end, Coquina Beach. The downside? You'll have to travel south to Sarasota for most cultural events, concerts, etc.


So there are some options if you're willing to do some compromising on your wish list.

[alfie1960]

Thank you,


What other nearby cities offer that affordable waterfront living with the convenience of city living?
ideally, proximity to the beach and still have access to nearby walking to shops and services and decent mass transportation system?


gay friendly / gay tolerant is aa big plus!

[beach43ofus]

alfie1960,
The only place in this area not mentioned yet is downtown Venice. I'm not sure what is affordable to you, but there are likely older condo's downtown you could get ~$300,000 and walk to downtown Venice which we think is quaint.

It is very old, so you might have a difficult time finding social outlets there.

I think Downtown Sarasota is much younger and more vibrant, but its more $600K+ for condo's, and even at that price, waterfront will be tough to find.

Sarasota has more social diversity than Venice, but I doubt either area cares much about your race, or sexual orientation.

I predict that downtown Venice will become a cultural melting pot in the years ahead due to the low prices and nice downtown area. I see it as a South Beach waiting to happen.

Best of luck to you and your partner, you are both welcomed with open arms.

[alfie1960]

Originally Posted by beach43ofus

alfie1960,
The only place in this area not mentioned yet is downtown Venice. I'm not sure what is affordable to you, but there are likely older condo's downtown you could get ~$300,000 and walk to downtown Venice which we think is quaint.

It is very old, so you might have a difficult time finding social outlets there.

I think Downtown Sarasota is much younger and more vibrant, but its more $600K+ for condo's, and even at that price, waterfront will be tough to find.

Sarasota has more social diversity than Venice, but I doubt either area cares much about your race, or sexual orientation.

I predict that downtown Venice will become a cultural melting pot in the years ahead due to the low prices and nice downtown area. I see it as a South Beach waiting to happen.

Best of luck to you and your partner, you are both welcomed with open arms.

Thank you beach34ofus,

Is it realistic to afford a 2 bedroom/2 bathroom waterfront condo in Venice for 300k approx?

[Sunshine Rules]

Is it realistic to afford a 2 bedroom/2 bathroom waterfront condo in Venice for 300k approx?


Maybe, but there aren't a lot of options at this price point. The more affordable ones will be over on Dona Bay, which is a short drive to downtown Venice. I can think of a couple of possible condo communities on the Island that are waterfront (canals), those would be small (900 sq ft, give or take) 2 bedroom condos. However, it's not really a close walking distance to downtown Venice, more like a quick bike ride away.


You can search a public version of our local MLS for properties at: https://www.state27homes.com

[LifeIsGood01]

Originally Posted by alfie1960

We’re a late 50/early 60 multiracial gay couple. I’m a meeting planner, my husband is a florist
Retirement is about 10 years from now and we know that we cannot and don’t want spend retirement in uptown Manhattan, New York City

We also we could not afford Hawaii and we know that we may even consider working part time during our retirement years

We want warmer weather and proximity to the beach but we also like the convenience of a city, where you could relatively walk to shopping, restaurants, or even travel short distances to get to theaters, galleries, concerts, etc.

I don’t drive myself and would avoid it as much as possible

Is it even realistic to assume that you could buy a waterfront 2 bedroom/2 bath condo or house in Sarasota, including keys and/or Inmediate neighbor cities for about 300k now?

I would hope we should be able to get more than that when we sell the 1bd/1bth co-op in 10 years, which costed us 287K

We would likely rent for a year until we know the city well enough before we commit to buy

At this time, we are only considering FL and not any other southern state

Alfie

I appreciate your opinion

Prices are rising, if you intend to wait 10 years it has no meaning in today's costs.

The east coast of Florida is more gay friendly. Lauderdale by the sea is very walkable to shops as is Las Olas, but the shops area is farther from the beach. You should search Realtor.com or other sites for prices. I met a lady who told me that on the intercoastal which is like a narrow man made river before the beach HOA fees were over $1000 a month. Also taxes on the beach are high. I know an acquaintance with a condo on the beach in Lauderdale by the Sea, I've never seen his place, but went to a party as they have party rooms the tenants can use, it was a very nice building with a rooftop pool and I'm sure his HOA fees are over $1000 month, plus taxes as very high on the beach.

in Fort Myers you can live on the water walking distance to downtown, but it's a river that is about a mile wide, not the beach, the beach is about 15 miles away. You can still find a few 2/2 and up condos below $300K.

I think the Tampa/St. Pete, Clearwater area may be cheaper too.

[gypsychic]

OP can't be serious with this. Retiring in TEN YEARS????? No, OP, come back here in 9 years and see where we are price wise...

[choff5]

Keep in mind, water front condos, or any condos near the water will have high condo fees as they all have to have flood and wind insurance as well as your regular insurance. We saw condos on Manisota Key for under 300K but the monthly fees added up to 10-12K for the year. Make sure to take the monthly/quarterly fees along with the actual price.

[LifeIsGood01]

Originally Posted by choff5

Keep in mind, water front condos, or any condos near the water will have high condo fees as they all have to have flood and wind insurance as well as your regular insurance. We saw condos on Manisota Key for under 300K but the monthly fees added up to 10-12K for the year. Make sure to take the monthly/quarterly fees along with the actual price.

and never buy a condo without checking how it's run or how much they have in their reserve account. Whenever they have to put a roof in it costs each tenant a fortune, and never mind an elevator, you would think they are made of gold which what they cost.