Hi everyone. I was wondering if we had many Florida forumers here that could help out with some basic questions. My wife and I are considering buying a condo in Florida as an eventual rental property but for now, just a place we could use to get away for a few weeks during January and February and share with friends and family when we are not using it. My knowledge of Florida is very limited so any help anyone can give us would be most appreciated. We are in contact with a few realty agents in Ft. Lauderdale and Miami. My wife and I are in our late thirties with a small child. We are not looking for South Beach per se, but also don't want a place that is in a borderline retirement community either. We have determined that we want to find a place on the east coast as opposed to the west coast due to family living nearby.

 

Thanks in advance!!

hopefully you can spend a bit of time there poking around before you buy.

This web site http://www.vrbo.com/vacation-rentals/usa/florida  has great rental selection and will also give you an idea of the vacation rental market. Make sure you review your condo docs well. Many  condos have HOA rules about short term renting. In fact some you cannot rent out at all-not even a year lease.

 

I lived in the west coast for 13 years, so am less familar with the east coast, although in many ways like the east coast more --in large part because I like the Atlantic better than the gulf. I love Miami for city visiting but it is not exactly relaxing-very chaotic and high energy.

The areas from Sebastian to Melbourne are less hectic and probably more affordable.The traffic is murder from West palm to Miami.  Coastal condos are going to have a lot of retirees, it is the nature of the beast.

As a side note the Gulf coast seems to draw Midwesterners and the Atlantic/East coast, Northeasterners.

Hi everyone. I was wondering if we had many Florida forumers here that could help out with some basic questions. My wife and I are considering buying a condo in Florida as an eventual rental property but for now, just a place we could use to get away for a few weeks during January and February and share with friends and family when we are not using it. My knowledge of Florida is very limited so any help anyone can give us would be most appreciated. We are in contact with a few realty agents in Ft. Lauderdale and Miami. My wife and I are in our late thirties with a small child. We are not looking for South Beach per se, but also don't want a place that is in a borderline retirement community either. We have determined that we want to find a place on the east coast as opposed to the west coast due to family living nearby.

 

Thanks in advance!!

 

Del Ray is worth checking out.  Farther north you may also want to consider Daytona Beach which has lots of kid-friendly activities.  Our neighbor has a second home in Daytona Beach (condo on the ocean) that they primarily use to entertain their grandchildren during holiday and summer breaks.

Florida is becoming the flophouse for the nation. Since the early 70's been there, done it....several times...  Don't like what it has become.

Florida is becoming the flophouse for the nation. Since the early 70's been there, done it....several times... Don't like what it has become.

Very very true. You have to watch the builders their as well. They can leave a home half complete in a heart beat. One area called Lehigh acres had about one out of 3 homes half completed. The foundation is there, the drive way is there, but not shingles on the roof. No wiring or plumbing no windows. Looked like a disaster. And the real estate taxes are just about insane unless you lived their 30 years. 

and hurricane insurance is an issue in itself. GOOD LUCK..lol

I thought about buying something in FL when the market crashed and it's not worth it.  The area (high crime, insurance, unemployment) along with bad traffic and dated condos was not a good fit.

 

The ROI isn't really good either.  I saw several units with renters in them, that were being evicted because the owners foreclosed and the buildings weren't being taken care of.

 

FL, GA, DC, SC, NC just seem like bad investments at the moment.  I would be very, very cautious.

Yikes!! Thanks for all the comments. These are some of the things we were curious about. Maybe we should wait for a while. Crime, property taxes and insurance were tops on our list.

 

Peabody, thanks for the link. Someone else had told me about the website as well.

I also will say I agree with everything said above regarding Fl real estate, but I figure you know that going into this. Fl is a grifters paradise so there are a lot of scams. I thought property taxes were down due to devaluatuation, but the hurricane insurance is through the roof since about 2004.

 

And yes the crime rates are high depending on where you are.  I suspect it has gotten worse since I lived there. So much public service is funded through property tax (no income tax), so when property taxes took a dive, cuts were made (from schools, social services, to public safety)

I recommend Deerfield Beach.  One of my best friends lives there and they have 2 small children. It was recently named one of the best places to raise a family.  I've never been there myself but have seen lots of pictures she's sent and heard her talk about the area and it sounds beautiful and nice.  She and the hubs can actually ride bikes to bars when they want an adult's night out, whichsounds nice.

A friend of mine, her parents rent out their Florida condo to people for weeks to months.  Maybe you should try renting to see if you like it?  They are ready to dump the place though.  As someone pointed out, they just aren't happy with the way things are going around there.

 

Peabody, thanks again. I've been checking on property taxes in Florida and the problem I'm finding out when trying to purchase a place is Florida is trying to value property taxes based on the homes value over the last five years which means even if you bought a condo for a 150k, but the house was purchased in 2007 for 350k, you are charged property tax based on the 2007 prices

 

Thanks RR, I did see Deerfield Beach mentioned as a nice community while I was doing research but I have not checked on prices.

 

I'm starting to find out the the same thing that MTS did: even though the over prices in Florida are way down, all the negatives(crime, taxes, insurance), it's just not worth it. I'm still going to do some more checking in the Deerfield Beach area.

 

Thanks again for everyone's input.

Hi everyone. I was wondering if we had many Florida forumers here that could help out with some basic questions. My wife and I are considering buying a condo in Florida as an eventual rental property but for now, just a place we could use to get away for a few weeks during January and February and share with friends and family when we are not using it. My knowledge of Florida is very limited so any help anyone can give us would be most appreciated. We are in contact with a few realty agents in Ft. Lauderdale and Miami. My wife and I are in our late thirties with a small child. We are not looking for South Beach per se, but also don't want a place that is in a borderline retirement community either. We have determined that we want to find a place on the east coast as opposed to the west coast due to family living nearby.

 

Thanks in advance!!

 

Assuming you want warm weather during cold winter months, you may want to check out Puerto Vallarta which has absolutely beautiful beaches on the Pacific, surrounded by mountains and  perfect weather (very much like Hawaii and around a five hour journey from Cleveland).  Leave at 6 am and arrive by 11:30 am. Tons of kid-friendly activities, great restaurants, very small town but cosmopolitan at the same time, and very affordable by American standards.

Thanks Jaa, but the high rate of kidnapping scares the hell out of me. I don't think I could ever convince my wife to buy a place in Mexico. Any other city suggestions would be great.

Thanks Jaa, but the high rate of kidnapping scares the hell out of me. I don't think I could ever convince my wife to buy a place in Mexico. Any other city suggestions would be great.

 

This part of Mexico is geographically secluded due to the mountains surrounding what is one of the world's largest bays.  It is also a very popular spot for Americans, Canadians and Europeans who have homes there.  It has not experienced any of the violence or crime that the news media in America has reported in Mexico.  It's actually quite safe and there is a concerted effort to keep it that way due to the importance of tourism and wealth of ex-patriots.

Despite all this gloom and doom my husband I had a nice life in FL. Cleveland ended up being better because  both salary cost of living are better plus there is more character. But the weather in our opinion is depressing as hell and this is in the clinical sense.  so we traveled a lot here Nov thru march....which was awesome. If you are able to obtain a getaway that will not be a money pit than go for it. I would not plan on anything being a moneymaker either.

Peabody, you're saying the weather is depressing in Florida or Cleveland and why? You traveled away from Florida during those months? Sorry, I'm a little confused from your post. At this point, we are just looking to find a good deal on something that we can go to a few times during the winter months and also allow our friends/family the chance to use it. I personally love Cleveland weather (with the exception of January/February) for much the same reason that Etheostoma Caeruleum has pointed out in some of his previous posts. I appreciate all of your posts on the subject.

My wife and I occasionally go to Savannah/SC Low Country and absolutely love it.  I think SC can be expensive but get the impression that some parts of GA may be cheaper.

If you're open to the panhandle, my wife and I liked Destin the best out of all the areas we have vacationed in Florida.  The winters there are awesome as is the fall.  In addition, the beaches in Destin are magnificent.  It is about 1 hour east of Pensacola.  Air Tran, if they still do, fly's into Fort Walton Beach which is about 20 minutes from Destin.  Also, it is on;ly about a 15 hour drive from Cleveland.  Check it out. 

My wife is from Ft. Lauderdale.  Her parents still live there.  It's a great place to visit in November-March and I certainly see lots of high rises with for sale signs every time I'm down there. 

 

There's a lot of points to be made, but I think I would suggest renting in a building for awhile to get the feel for it, then determine if you like it enough to make an investment.  The market is not going to turn around down there for the next couple years so the deals will still be available in the future.  But building to building is very different and that's what really makes or breaks your experience.  A good property management company makes all the difference.  I would definitely want some on-site experience prior to purchasing...and you should check it out during the summer too...there's a difference in seasons just in who is living there.

 

Just to throw in my part about the weather...if you ask my wife, she likes the weather here much better.  Yeah, Florida wins November-March, but unless you like 90 degress with 75% humidity and thunderstorms every day, then the weather in Florida is a bit overrated (check out some highlights from the Dolphins game this past weekend).

 

 

Go Tribe, I have been to Destin and I actually forgot about that area. I will definitely give it a look.

 

Shs96. One of the areas we were looking at besides Deerfield Beach has been Ft. Lauderdale. We actually have a trip scheduled for late September to check it out. We are in no hurry to buy anything and I couldn't agree with you more on the weather. I would only be in Florida between November and February. The weather the rest of the year is probably my least favorite. I can't stand the nineties with high humidity. Thanks for the advice.

check out Sarasota, about forty miles south of Tampa on the Gulf Coast. It's not too big, very culturally active and has beautiful beaches (Siesta Key for example) This video is a few years old so it may not be as economically vibrant--for the time being--as it suggests :wink:

Thanks eastvillagedon, I will add that to the list as well as South Carolina(Charleston) from bumsquare's suggestion.. So, besides Destin, Ft. Lauderdale, Sarasota and Deefield Beach, any other areas of Florida does anyone find appealing. Any thoughts on the Miami area??

I am partial to the Jacksonville area because I have family there.  They didn't experience quite the building boom of southern florida, so there are not rows upon rows of half empty condo towers to be had.  Ponte Vedra Beach and Jacksonville Beach are quite nice.

Thanks eastvillagedon, I will add that to the list as well as South Carolina(Charleston) from bumsquare's suggestion.. So, besides Destin, Ft. Lauderdale, Sarasota and Deefield Beach, any other areas of Florida does anyone find appealing. Any thoughts on the Miami area??

 

SE Florida I wouldn't touch  Dade county north to Palm Beach.

Thanks eastvillagedon, I will add that to the list as well as South Carolina(Charleston) from bumsquare's suggestion.. So, besides Destin, Ft. Lauderdale, Sarasota and Deefield Beach, any other areas of Florida does anyone find appealing. Any thoughts on the Miami area??

 

SE Florida I wouldn't touch Dade county north to Palm Beach.

 

I don't know anything about that area. Why do you suggest he stay away from Miami? (LBJ isn't a good reason....)

Dunedin just north of Clearwater Beach is fantastic.  Only 20-25 minutes over the causeway from Tampa International Airport, 35-mile bike trail that goes from St. Petersburg to Tarpon Springs, proximity to Tampa and big city living for those rainy days, home to Honeymoon Island Beach (one of America's top 10 beaches), and very affordable.  Their downtown is like the Short North in Columbus or Conventry in Cleveland with great restaurants, bars and shops, and weekly festivals throughout the peak season.

Thanks eastvillagedon, I will add that to the list as well as South Carolina(Charleston) from bumsquare's suggestion.. So, besides Destin, Ft. Lauderdale, Sarasota and Deefield Beach, any other areas of Florida does anyone find appealing. Any thoughts on the Miami area??

 

SE Florida I wouldn't touch  Dade county north to Palm Beach.

 

I don't know anything about that area. Why do you suggest he stay away from Miami? (LBJ isn't a good reason....)

 

The housing market sucks!  See my earlier post.  The economy is based on tourism.  Who is visiting or moving to Florida?  Hell, when Disney starts to layoff, you know it's got to be bad.

 

When I was there in June, I can't tell you how many homes are vacant with ridiculous price tags.  Not to mention the crime, super high home and car insurance, high gas and many of those condo towers are dated or promised x in the marketing materials but cannot deliver.

 

Also a large number of S. Americans (mostly speculators or flippers) are in Miami in Summer (their winter) and have sold or just given up their properties.

 

One of the building I looked at on 11 St and Biscayne is damn near empty.  So are several of the other buildings that comprise of almost 5k units that have come on the market in the area in the last two years.  Now many of the buildings are renting to slow down the foreclosure process.  That's another issue many buildings have defaulted on loans are in or near foreclosure.

MTS,

Thanks for the grim but honest analogy of Miami. I think it's safe to say Miami won't be included on the list. I've actually done a decent amount of reading on the Miami real estate market and wanted a second opinion. Thanks again.

 

Jaa, I will take a look at Dunedin as well. Thanks!

 

Docbroc,

I've have relatives in Jacksonville as well and they have dissuaded me against looking there. They didn't really get into much detail why.

If you're open to the panhandle, my wife and I liked Destin the best out of all the areas we have vacationed in Florida.  The winters there are awesome as is the fall.  In addition, the beaches in Destin are magnificent.  It is about 1 hour east of Pensacola.  Air Tran, if they still do, fly's into Fort Walton Beach which is about 20 minutes from Destin.  Also, it is on;ly about a 15 hour drive from Cleveland.  Check it out. 

 

I owned a vacation rental property in Destin/Miramar boarder on old98 from 2002-2004. We purchased before the boom so with our mortgage and rentals we were close to breaking even. We had a lot of family use from it so looking back it was a good deal I just wish we were able to hold on to it longer and sell during the boom. I’m hoping for prices to come down to pre-2002 levels. For me, Destin and the 30A area were the most enjoyable parts of FL I’ve visited. I’m hoping to visit again this fall and see how things are doing after the oil spill. By the way there’s a new international airport in panama city now.

 

 

Dunedin just north of Clearwater Beach is fantastic. Only 20-25 minutes over the causeway from Tampa International Airport, 35-mile bike trail that goes from St. Petersburg to Tarpon Springs, proximity to Tampa and big city living for those rainy days, home to Honeymoon Island Beach (one of America's top 10 beaches), and very affordable. Their downtown is like the Short North in Columbus or Conventry in Cleveland with great restaurants, bars and shops, and weekly festivals throughout the peak season.

 

I bought a condo in the Clearwater area and paid a very reasonable amount for it. I'm now renting it to an older lady toward the day when I can leave Ohio and move there. I found the area to be very nice...lots to see and do...and if you want to visit, I'd recommend staying in a mom and pop motel on Clearwater Beach or Treasure island. There a lot of these places and they are a lot less than chain hotels. I stayed at one and it was only about $65 a night and about 2 blocks from the beach. You find them on the web and you will have to do some searching to get a nice one. Beware: There ARE some dumps, but if you aren't too squeamish, they can be a bargain. Besides, chain hotels are bland.