Looking for a Vacation Home for large Family (Sarasota, Bradenton: bank owned, foreclosures)

[johnnyboy5]

Hello all. This is my first post on this site, although I have been reading it for some time and you are all extremely helpful. We are from Toronto and have decided to purchase a vacation home in Florida (Gulf side). We have been looking in Naples area (very expensive), but also want to consider Sarasota (comparisons welcome!). We rented in Siesta Key many years ago and really enjoyed that so we are hoping that we'll find a place that meets our needs. We don't have any knowledge of Sarasota area though, other than our time in Siesta. We would really appreciate advice on what areas in sarasota would suit us, and if Siesta Key would meet our requirements:

-we a family of 7; 5 kids aged 15, 11, 10, 10, 10 (yes, triplets!)
-we truly want this to have a vacation home feel, inside and out; someplace the kids will enjoy as well as the adults
-walk to nice beach and shops would be great, but a short drive also OK
-min. 3 bedrooms
-no fixer uppers, as it would be difficult to manage projects from Toronto
-want to avoid gated communities as we believe HOA and club fees are wasted if we're not going to be there most of the time (at least for now); would rather put the money into home equity
-looking for good value, but budget is up to $500k for the right place

So that's what we're looking for, but don't really know where to start looking. Thanks in advance for your help.

[RhysNJ]

Hopefully you'll get some good advice here, but before going house-shopping in any particular communities I would be inclined to do a lot more renting. Stay in a few different communities, get to know some people, and check out everything from insurance costs to taxes. There is a LOT to consider.

I was in this same situation as an out-of-stater a while back and decided against purchasing. I spent a lot of time here and online reading about the pros and cons of condominiums, beach communities, etc. The more research I did I concluded that I needed to spend much, much more time in Florida before coming anywhere close to buying something. We bought something locally instead, something I can get to by car in under 2 hours.

Having said that, aside from Sarasota itself, you might check out the communities on Anna Maria Island. Rent a few times, and check out what's available.

Rhys

[gypsychic]

Originally Posted by RhysNJ

Hopefully you'll get some good advice here, but before going house-shopping in any particular communities I would be inclined to do a lot more renting. Stay in a few different communities, get to know some people, and check out everything from insurance costs to taxes. There is a LOT to consider.
I was in this same situation as an out-of-stater a while back and decided against purchasing. I spent a lot of time here and online reading about the pros and cons of condominiums, beach communities, etc. The more research I did I concluded that I needed to spend much, much more time in Florida before coming anywhere close to buying something. We bought something locally instead, something I can get to by car in under 2 hours.
Having said that, aside from Sarasota itself, you might check out the communities on Anna Maria Island. Rent a few times, and check out what's available.
Rhys

This is great advice and I agree - you should really spend a lot of time here and rent first. I think that Anna Maria would be where you could get the "walk to beach" in your price range possibly, however be prepared for some big taxes and REALLY big insurance - not just for Anna Maria, but on any of the islands and keys here. That might just blow your budget when you see those costs.
Aside from that, it's a great area, IMO, the best on the Gulf (meaning from St. Pete on down through Sarasota. Great beaches, plenty to do, nice downtowns, parks and nature preserves, etc.
Good luck!

[Ladywithafan]

Originally Posted by johnnyboy5

Hello all. This is my first post on this site, although I have been reading it for some time and you are all extremely helpful. We are from Toronto and have decided to purchase a vacation home in Florida (Gulf side). We have been looking in Naples area (very expensive), but also want to consider Sarasota (comparisons welcome!). We rented in Siesta Key many years ago and really enjoyed that so we are hoping that we'll find a place that meets our needs. We don't have any knowledge of Sarasota area though, other than our time in Siesta. We would really appreciate advice on what areas in sarasota would suit us, and if Siesta Key would meet our requirements:

-we a family of 7; 5 kids aged 15, 11, 10, 10, 10 (yes, triplets!)
-we truly want this to have a vacation home feel, inside and out; someplace the kids will enjoy as well as the adults
-walk to nice beach and shops would be great, but a short drive also OK
-min. 3 bedrooms
-no fixer uppers, as it would be difficult to manage projects from Toronto
-want to avoid gated communities as we believe HOA and club fees are wasted if we're not going to be there most of the time (at least for now); would rather put the money into home equity
-looking for good value, but budget is up to $500k for the right place

So that's what we're looking for, but don't really know where to start looking. Thanks in advance for your help.

If you want to stay in Sarasota near Siesta Key, look in the Hillview neighborhoods west of trail.$500K might just get you what you want.

5-10 minutes to Siesta Drive and over the bridge to the island.

[SoFLGal]

Originally Posted by johnnyboy5

Hello all. This is my first post on this site, although I have been reading it for some time and you are all extremely helpful. We are from Toronto and have decided to purchase a vacation home in Florida (Gulf side). We have been looking in Naples area (very expensive), but also want to consider Sarasota (comparisons welcome!). We rented in Siesta Key many years ago and really enjoyed that so we are hoping that we'll find a place that meets our needs. We don't have any knowledge of Sarasota area though, other than our time in Siesta. We would really appreciate advice on what areas in sarasota would suit us, and if Siesta Key would meet our requirements:

-we a family of 7; 5 kids aged 15, 11, 10, 10, 10 (yes, triplets!)
-we truly want this to have a vacation home feel, inside and out; someplace the kids will enjoy as well as the adults
-walk to nice beach and shops would be great, but a short drive also OK
-min. 3 bedrooms
-no fixer uppers, as it would be difficult to manage projects from Toronto
-want to avoid gated communities as we believe HOA and club fees are wasted if we're not going to be there most of the time (at least for now); would rather put the money into home equity
-looking for good value, but budget is up to $500k for the right place

So that's what we're looking for, but don't really know where to start looking. Thanks in advance for your help.

Anna Maria is actually not a bad idea. Possibly the north end of Longboat Key, closer to St Armand's Circle. I just sold a home in Bayou Sound (north end of Longboat) that was in the low $500's and had it's own beach access, 2300+ sq ft under air, has a pool, etc. This was a bank owned home and an exceptionally good deal.

Siesta Key would probably be your best bet. The age group is much younger than some of the other keys, there are more things for the kids to do and the beach is one of the best in the world. Again, looking at the foreclosures might be a really good option.

So, I did a quick search from Manasota Key all the way up to Anna Maria Island (about 60 miles) on all the keys and islands up and down-Manasota Key, Casey Key, the island of Venice, Siesta Key, Longboat Key, Bradenton Beach, Holmes Beach, and Anna Maria. I searched $500K and under, and at least 4 bedrooms. There are 21 homes that match that criteria-only one is bank owned.

Good luck with you search

[SoFLGal]

Originally Posted by Ladywithafan

If you want to stay in Sarasota near Siesta Key, look in the Hillview neighborhoods west of trail.$500K might just get you what you want.

5-10 minutes to Siesta Drive and over the bridge to the island.

Good idea but the problem is the four bedrooms. There are only two homes in the Hillview area that are around $500k and four bedrooms. If three bedrooms would work then that would open up a lot of possibilities but with five kids I'm kinda doubting it.

[johnnyboy5]

Thx so much for all the great responses so far. One point of clarification though - I only really need 3 bedrooms. Of course, 4 would be a bit more comfortable, but 3 would work fine for the right home. I think Siesta Key would be our preference so I'm glad you think it could work. Of course, we're all ears if someone has a better suggestion.

Please keep the great suggestions coming. Thx!