Info on On Top of the World, please (Clearwater, Ocala: real estate market, lease)

[Profilewriter]

I have heard that On Top of the World has a very liberal pet policy. Does anyone know anything about that?

Also, I would be grateful for any informaiton on the cost of living there --- HOA fees, property taxes, approximate utility bills, insurance bills.

And what is the community like? I know that is a broad question; I guess I'm wondering if children (as in visiting grandchildren) are welcome, if there is any diversity, if people are friendly, generally speaking.

Thanks in advance for any information!!

[cump]

We purchased at OTOW in December '07. We are very happy with the community. The low price for a nice 1100 sq. ft. condo was what originally attracted us.

The newer buildings sell a little higher than older buildings. The first floor units sell for more than the second and third floor units. Obviously the 1400 sq. ft. units are higher than the 1100 sq. ft. Standards. The major upgrades that affect price are new windows which cost around $4,000 in a Standard, a new air handler which is around $3,000, and a newer kitchen, which varies with the level of cabinetry, etc. The kitchens are kind of small and did not come with dishwashers. My wife considers it adequate for a vacation home.My guess is that you could redo a kitchen for no more than $8,000 if you stuck to basic cabinets and appliances.

The people are friendly and helpful. From what I have seen guests are welcomed. However I would guess that unruly children would not be very popular. I see every kind of dog imaginable there so dogs are ok for sure.

Our HOA fee is $257.98/mo. Real estate taxes for non homestead folks are around $1,700/yr. We used it only for vacations thusfar so I'm not sure how much the electric bills would be. If you are not there in the summer you still need to run the AC at around 82 degrees to prevent mold.

If you have additional questions feel free to ask.

[cump]

Our insurance, for 100/300 liability and minimal contents coverage was $168 through Citizens.

[Profilewriter]

Hi Cump,
Thanks so much for your very helpful information!

Do you have opinions on whether some buildings are better than others --- maybe in terms of location or amenities?

Are there big differences between newer buildings and older buildings?

Are there any buildings in particularly attractive settings?

Also, do you think that most residents are vacationers, or are there a good number of year round residents?

Oh, and about what is the driving time to downtown Dunedin? And to Clearwater Beach?

Thanks again for your help!!

[TampaKaren]

There are approximately 5000 units located in the north section of Clearwater (there's another community in Ocala). A purchase comes in part with a 100-year land lease. This is why the units are sold inexpensively, along with higher than average maintenance fees. Please don't misinterpret my post as a negative. There are many people who love living there; I just don't want anyone to be mis-informed. There are also additional threads here on City Data about OTOW. You can do a search to read more info about the community and its many recreational activities.

[cump]

I prefer the newer west side of Belcher to the east side because it seems better laid out and less congested. Also, I think the grand entrance on the south end of the east side is kinda silly with the globe and the fountains. But face it, the entire place looks pretty strange to begin with.

I have heard, but do not know this for a fact, that some of the older buildings are less soundproof. There is a 15 year span between the first and the last construction. That is a big difference, imho.

Some of the long buildings, as opposed to the more prevalent "+" shaped buildings, are two story instead of three story. This reduces the density in the immediate area. Some of the east side buildings have nice views of the golf course.

We are on the west side, all the way to the south. There are no buildings south of us, we abutt another subdivision of condos. Therefore we have less traffic, less noise, and lots of extra street parking. Some of the west side buildings all the way to the west have nice views of the lake.

The units closest to the core of the + shaped buildings have views of a line of air conditioning units out the back. I consider this a drawback.

My guess, and this is just a guess, is that around 60% of the residents are full time.

The land lease is a disadvantage, for sure, but I believe that it is more than compensated for in the price in this lousy real estate market. Perhaps one explanation for the low prices is the fact that many original owners are dying off. Another is that vacation home prices suffer much more than primary residences in a recession and/or a poor real estate market. You NEED a place to live, you DON"T need a vacation home.

When our building was built in 1985 the units were priced in the mid 50s. We paid 66 last December. These units peaked a couple of years ago with prices above 120. Buying a decent place to live with 1100 sq. ft. and two bedrooms and two baths in a real place near a real airport where it is warm in the winter for 66 grand strikes me as a good deal especially considering the number of northern boomers who will be looking for places over the next decade.

Hope this helps.

[Profilewriter]

What great, specific advice! Thank you so much.

The advice on checking on soundproofing, and looking into two-story buildings (I didn't even know there were any), and on comparing east vs. west, and newer vs. older construction is so important.

One more question: Are there places to store bikes or kayaks or other large outdoor toys?

Thanks again for the tremendously helpful information!

[cump]

In our building people put bikes in the storage room. There is no area for other large toys that I am aware of. Boats and trailers are not permitted.

[Profilewriter]

Thanks, Cump.

It's good to know that there is a spot for bikes. Kayaks could go on top of the car, I guess.

A follow-up question, if I might: Do residents have individual, assigned spots in the storage rooms, and if so, about how large are they?

[cump]

Our building has assigned storage areas. They vary in size and are pretty haphazard. People have been known to switch with other people for more favorable and larger spots.