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Old 01-05-2014, 01:28 PM
 
Location: NJ
2,111 posts, read 7,941,388 times
Reputation: 1024

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My wife and I are flying down in mid May to look at some condos to purchase as a vacation property. We're in our mid 60's and plan on only spending anywhere from 3 to 4 months of the year. We own a house in NJ which is our principle residence. We're looking in the Clearwater area because of location to Safety Harbor, Dunedin, CWB and shopping. We do not want to rent it out but just keep it for ourselves and family. The purchase price is ok (no loan) but I get concerned about fees, insurance, electric bills which would be every month. I will not purchase in a flood zone. The condos I look at online are Flood Zone X. I wonder if these costs and headache of being so far away are worth it.

Hopefully some of you who are in the same position that I want to be in can answer.At the same time,others that are in the same boat as myself can gain some insight from the veterans.If anyone else has any questions to add that perhaps I may have overlooked,please do so.Anyhow...here goes:

1.What are some ways to maintain a condo while many miles away?

2.How do you keep your homes and their contents safe and secure?

3.How do you deal with issues such as an attempted break in,vandalism or perhaps weather damage when you're many miles away?

4.I understand the AC has to be kept on, possibly during the summer, when we are not there. Suppose it stops working, could be a problem with mold.

5.What do you use for transportation if you fly down?

6. Do neighbors check on one another's property from time to time, flush toilets etc without hiring someone?

7. How is the drive back and forth, I am over 1100 mi one way? I might drive twice a year and fill in with flying and renting a car for shorter periods to stay down there.
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Old 01-05-2014, 01:39 PM
NCN
 
Location: NC/SC Border Patrol
21,662 posts, read 25,566,362 times
Reputation: 24373
Have you ever thought about just renting. What monthly cost could you afford. We have a timeshare that is connected with RCI and they have specials most of the time. Some buy enough condo points to last the season but every time I check on the last calls except during the summer months there are usually places to stay.

Then there are the snow bird rentals in Myrtle Beach (and I am sure other places too) from monthly $600 for a studio to $1300 for a two bedroom in a complex that has everything one needs from pool to outside games, etc. Just google senior discounts in Myrtle Beach.

One ladies remark was that she would let the condo owners worry about the hurricanes. Something to think about.

Here is the one that caught my interest: http://www.myrtle-beach-resort.com/winter-rentals Looks like the price has gone up. The longer the stay the less you pay.

Last edited by NCN; 01-05-2014 at 01:50 PM..
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Old 01-05-2014, 01:51 PM
 
Location: Spring Hill, Florida
3,177 posts, read 6,798,542 times
Reputation: 3592
I am a full-time resident, having recently moved from PA. But my neighbors who we have become quite friendly with are part-time residents. They started out as snowbirds but now spend more time here different times of the year. Their daughter and her family live in their "other" house and they split their time between here and there. It varies, somewhat. Last year, they weren't here at this time of year, but this year they are. They are here for a few months, gone for a few months, then back again, and so on. I'll take a stab at a few of your questions based on how they do things.

They have a house - not a condo, so there are more things to worry about. They employ a property manager who checks on the place once a week for them when they aren't here. I also keep an eye on the place when they aren't around. If something happens, I can get a hold of my neighbors via email or cell phone. They have landscapers mow the lawn as needed. When they are leaving for an extended period of time, I know he shuts off the water at the main shutoff outside the house, and kills the breakers for the water heater. The outside and inside lights are on timers, which automatically vary the on/off times to give the appearance of someone being home. They have a pool guy take care of the pool when they aren't here as well.

I know they have the A/C (or heat) set to run as needed when they aren't here. I was showing my neighbor my Nest smart thermostats which can be monitored/adjusted remotely (as long as you maintain an internet connection at the property). He seemed pretty interested in them, as he'd be able to find out quickly if the system wasn't working.

They keep a car here in the garage. They fly back and forth and either get someone to pick them up at the airport or they rent a car at the airport and return it locally.

The drive gets old really fast. I drove back once since we moved here and am not inclined to do it again anytime soon. But, perhaps you may feel differently about it.

If you are really only going to do 3-4 months a year, I can understand it being tough to figure out. Maybe you'll end up spending more time here which would make some of these decisions easier. Best of luck to you.
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Old 01-05-2014, 04:59 PM
 
94 posts, read 154,616 times
Reputation: 105
We are getting ready to do the same, although not condo people, Small house with carport, for sure will fly down either by commercial jet or our small family plane, will buy a old car to keep in fl.

Taxes $1,000 yr
lawn man 500 plus yr
pool man 1,000 yr?
ins--slip and fall fire theft 700/800 yr
car ins $500 yr
care taker thinking 2 times a month walkthrough---16 times a year 8mO $500.


Around $5,000 per yr PLUS, just to own a place in Fl
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Old 01-05-2014, 05:13 PM
 
1,759 posts, read 2,157,169 times
Reputation: 742
Quote:
Originally Posted by alaskan adventurer View Post
We are getting ready to do the same, although not condo people, Small house with carport, for sure will fly down either by commercial jet or our small family plane, will buy a old car to keep in fl.

Taxes $1,000 yr
lawn man 500 plus yr
pool man 1,000 yr?
ins--slip and fall fire theft 700/800 yr
car ins $500 yr
care taker thinking 2 times a month walkthrough---16 times a year 8mO $500.


Around $5,000 per yr PLUS, just to own a place in Fl
You are us. We may still buy but pickings are slim. Lately been thinking to just keep renting for a while when need be. The costs and worries between hurricanes, floods, break -ins and a few other reasons are a concern. GL
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Old 01-05-2014, 07:25 PM
 
94 posts, read 154,616 times
Reputation: 105
Ya, we are in the 100K cash market, so with that comes competing with investors/flippers And we did not come up with the idea of living in the sun for winter, people from the north been doing it for a LONG time, and we are in the same market as the rest of the baby boomers, So investors/flippers/old people make it hard on a 100K budget.
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Old 01-05-2014, 10:12 PM
 
3,826 posts, read 5,784,652 times
Reputation: 2397
I would check flood insurance numbers and HOA fee that needs to be paid even if you are not living there 12 months a year.
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Old 01-06-2014, 05:12 AM
 
1,759 posts, read 2,157,169 times
Reputation: 742
Not to mention Property Taxes (ever rising) and if you do rent it out, fees associated with that , plus problems.
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Old 01-06-2014, 07:06 AM
 
Location: Native of Any Beach/FL
35,557 posts, read 20,897,588 times
Reputation: 14186
Being a native and growing up in S beach it was absolutely awful when everything closed during the summer and the community struggled financially unil the next winter. I am so happy South Beach now holding it's own all year around. I personally do not like seeying the empty condos and houses. Ghost town effect- ugh. sorry folks I am againts it. Been happening for years and years but will never like it.
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Old 01-06-2014, 09:25 AM
 
Location: 48066
145 posts, read 228,840 times
Reputation: 196
Were doing what you are planning to do. We are in Michigan though, 1,290 miles one way. We intentionally filtered out all houses, townhomes, manufactured homes and anything that was not in a high rise building. Our fear was security. Any kid can break into a house window...even on a 2nd or 3rd floor if there is a place to climb up. Getting into a highrise 10-15 floors up changes everything. Our building is $500 a month HOA (just went up) but we have water and cable included. Heated pool and best of all underground parking. It is like a fortress you cannot simply walk in you need a remote or key to get in. Soooo, we park a car there and take a taxi from the airport. I have been staying longer since I lost my job in Michigan but am back in Michigan now. I do not worry about security. We are so high off the ground you need a helicopter to break in...or be a resident of the building I guess. If you were though, everyone would see you in the halls carrying stolen loot and call the police. Also, our building has a camera on every door in the place. You turn to channel 92 to view them all on your tv. Our local police attend the monthly BOD meeting too. He said our area is the safest in Pinellas at this time. Our neighbor watches over us in reference to your question about that...I think most neighbors would as long as your friendly to them. We leave the a/c on in the summer absolutely to prevent mold. I think 80 deg is what we set it at. As far as driving. I have done it many times and do not mind. I like it better with 2-3 people since it is non-stop because you take turns driving. When I go alone I need to stop for a 3 hour nap.

Hope this helps. Not trying to talk bad about homes or town houses. It just really makes sense if you are worried (like my wife and I were) to consider high rises...the view is great too. We can see St. Pete Beach and the gulf and the Boca Ciega Bay...boats and dolphins all day long. We have a pier to fish off of too No beach here but can drive to one in 2 minutes. Gl with your search and if you have any questions let me know
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