Looking for condo in west Florida

[samson66]

I'm approaching retirement and I'm considering doing the snowbird thing.

Planning to keep a house up here in good old Maryland, the home of high taxes and left-wing lunacy. But I'd like to also pick up a moderately priced condo in west Florida and split my time between the two - while becoming a Florida resident at the same time.

Looking for a two-bedroom condo, anywhere between let's say Clearwater down to Ft. Myers. Needs to be water front, but does not need to be on the beach. Just want water that has access to the gulf. Condo probably the best for my situation since it will sit unused for the summer months.

Can anybody point me in a good direction? I've spent a lot of time down there (primarily in the St. Pete area) but I really don't know which area is best as far as keeping property taxes reasonable, low crime, good overall place to live. And of course I need to look at places with lower condo fees so I don't get soaked on that.

Any suggestions??

[Ferdelious]

Waterfront real estate, even condos, is getting pricey anywhere on the west coast. It will depend on your price range and if you're looking for newer construction. My parents just bought a 3 bedroom condo on the water in Dunedin(just north of Clearwater) and they love the area but it was close to a 7 figure price tag.

Between Venice and Fort Myers will probably be the most economical but you'll be further away from a metropolitan area if that matters.

[samson66]

Originally Posted by Ferdelious

Waterfront real estate, even condos, is getting pricey anywhere on the west coast. It will depend on your price range and if you're looking for newer construction. My parents just bought a 3 bedroom condo on the water in Dunedin(just north of Clearwater) and they love the area but it was close to a 7 figure price tag.

Between Venice and Fort Myers will probably be the most economical but you'll be further away from a metropolitan area if that matters.

Thanks for the reply. I'd like to be within an hour of Tampa roughly, but it's not a huge deal if it's a little more.

Do the taxes tend to be lower in the Ft. Meyers area? Some places down there really sock it to you with property taxes.

My dad owned a place on the water near St. Pete and I let it go. Essentially when he died he owed as much as it was worth. Looking back I should have taken on the mortgage and held onto it. Prices have really shot up in the last 5+ years

[Mr.Rolex1]

Keep in mind they're building an awful lot of condos and HOA dues are thru the roof.
Also be sure no future project will block your view

[samson66]

Originally Posted by Mr.Rolex1

Keep in mind they're building an awful lot of condos and HOA dues are thru the roof.
Also be sure no future project will block your view

Yeah the condo fees are a real wild card. You can find a place with a good tax situation but then they hit you with exorbitant monthly fees. Then you may find a place where they are reasonable, but no telling what they will be five years down the road

[77T]

Originally Posted by samson66

Yeah the condo fees are a real wild card. You can find a place with a good tax situation but then they hit you with exorbitant monthly fees. Then you may find a place where they are reasonable, but no telling what they will be five years down the road

Much of that will also be random due to windstorm and rising sea levels. The quality of the underlying foundation and structural integrity is unknown to the buyers. And then there’s the whole HOA mismanagement risk package (both people and process).

A couple of thoughts to help from my experience with SWFla.

If you are avoiding the beachfront for safety reasons (as well as cost), then try to also avoid canalfront or bayfront on a barrier island.

Waterfront on the mainland is your best bet. You will evacuate many times in a 5-year span of time and today’s hurricanes are overtopping entire islands, beach-to-bay.

Next, when you say you want to be waterfront with Gulf access, and at same time say condo, that automatically makes me think you have a boat or are contemplating one. This means you really need a development with reserved slips. That drives your costs way up.

Maybe something a few streets back from the Bay but with a nearby boat yard on the water is a better option. A phone call will have your boat in the water and outfitted for a cruise or for a trip at a smaller cost than year-round slip rental. Also enclosed boat storage protects said boat during the ravages of many non-hurricane windstorms that can still do damage to unprotected boats. I’ve seen simple King tides swamp a too-tightly moored cruiser whose bilge pump failed.




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[samson66]

Originally Posted by 77T

Much of that will also be random due to windstorm and rising sea levels. The quality of the underlying foundation and structural integrity is unknown to the buyers. And then there’s the whole HOA mismanagement risk package (both people and process).

A couple of thoughts to help from my experience with SWFla.

If you are avoiding the beachfront for safety reasons (as well as cost), then try to also avoid canalfront or bayfront on a barrier island.

Waterfront on the mainland is your best bet. You will evacuate many times in a 5-year span of time and today’s hurricanes are overtopping entire islands, beach-to-bay.

Next, when you say you want to be waterfront with Gulf access, and at same time say condo, that automatically makes me think you have a boat or are contemplating one. This means you really need a development with reserved slips. That drives your costs way up.

Maybe something a few streets back from the Bay but with a nearby boat yard on the water is a better option. A phone call will have your boat in the water and outfitted for a cruise or for a trip at a smaller cost than year-round slip rental. Also enclosed boat storage protects said boat during the ravages of many non-hurricane windstorms that can still do damage to unprotected boats. I’ve seen simple King tides swamp a too-tightly moored cruiser whose bilge pump failed.




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My reason for avoiding beach front has more to do with cost than any safety concerns. In terms of wanting to be on the water, having a boat is not the driving reason. We just want to live on the water. If it has slips and I get a boat, even better, but not a necessity. As pointed out, I like the boatel deal too.

We stayed in Clearwater the last time I was down there. Loved the condos on the beach and inlet there, high-rises. But I assume too expensive for a part-time home.

[CalSRQ1]

Strongly advise renting for a season - there are so many different “feels” for the communities etc. if you spend a season or 2 and drive the areas, you will make a much better decision. I’ve had lots of clients buy quickly then flip for something different as it wasn’t exactly what they hoped it to be (wait...something sounds vaguely familiar here).

[samson66]

Originally Posted by CalSRQ1

Strongly advise renting for a season - there are so many different “feels” for the communities etc. if you spend a season or 2 and drive the areas, you will make a much better decision. I’ve had lots of clients buy quickly then flip for something different as it wasn’t exactly what they hoped it to be (wait...something sounds vaguely familiar here).

Will definitely look into this. I have spent lots of time in SW Florida but you are correct that it's hard to get a feel for a specific area or community if you don't spend extended time there. I have spent loads of time at the St Pete beaches and love the area. Madeira, Treasure Is, St. Pete Beach, Redington. It's just a great area down there.

When you say rent for a season, what do you mean specifically? What constitutes a "season?" To get residency I need to rent for six months I would imagine?

[GoingPlaces]

I agree to rent for a year or two and see how you like an area before committing. Not sure what the cost of unloading a property after a couple years would be because you didn't like the area, but I'm sure it wouldn't be easy. You can still claim residency as long as you are 6months or more in FL. Also if you are looking at condos, a smaller building may have more reasonable fees. They can really skyrocket quick.

[samson66]

Originally Posted by GoingPlaces

I agree to rent for a year or two and see how you like an area before committing. Not sure what the cost of unloading a property after a couple years would be because you didn't like the area, but I'm sure it wouldn't be easy. You can still claim residency as long as you are 6months or more in FL. Also if you are looking at condos, a smaller building may have more reasonable fees. They can really skyrocket quick.

Stupid question here, but can I rent part time? Like rent for six months Oct-March for example? Or do you pretty much have to rent for a full year at a time?

[Andy0331]

Originally Posted by samson66

Stupid question here, but can I rent part time? Like rent for six months Oct-March for example? Or do you pretty much have to rent for a full year at a time?

Very common in Florida for the winter season "snowbirds". The catch is that the monthly rates for the short term are typically far higher than annual. Of course there are 1,000's of units out there & sometimes deals can be had.

[Art 1]

I would be looking in the Sarasota area. I would not be looking in the Clearwater area.

[samson66]

Originally Posted by Art 1

I would be looking in the Sarasota area. I would not be looking in the Clearwater area.

Love Sarasota - I would prefer that over Clearwater anyway. Clearwater just happened to be where I stayed this past March.

[miamiclay]

Originally Posted by samson66

When you say rent for a season, what do you mean specifically? What constitutes a "season?" To get residency I need to rent for six months I would imagine?

To be a FL resident, you must spend at least 183 nights per year in FL. Remember that while FL doesn’t care or check this, MD does. If MD “claims” you as a resident and wants their taxes, the burden will be on you to prove otherwise. MD (and NY/NJ and, oddly, CA) are all particularly vigorous in this area. I’ve known people who had to bring in their plane tickets, all utility bills, etc. to prove they were physically in FL for over half the year. When you arrive in FL, immediately get a FL driver’s license, register to vote in FL, and file a Declaration of Domicile with your FL address. Beyond the threshold 183-nights-minimum bright-line rule, state residency/domicile is largely a matter of “intent” to remain and have it be your primary residence, and the above all helps you, if MD decides to question it.

The “season” has no formal meaning, generally it’s roughly Thanksgiving to Memorial Day. No state or local rules I know prevent you from renting for 6 months only, though some condo/HOA by-laws may prohibit it. You can assume you will be legally “allowed” to rent for only 6 months, but likely the rent will be higher per month if you only want the high season. Also, FL condo/HOA rules often bar owners from signing more than one lease per year (i.e., they allow only one rental per year, regardless of whether that’s a year-long lease or a week-long rental), so many owners want that full-year lease. Despite all this, imo it is a VERY good idea to rent first, maybe even try a different place each season for a few years, and see where you like.

Personally, I find Ft. Myers to be sort of depressing, and Clearwater just a bit redneck/meth lab-y, but I think Sarasota is a great town - though not cheap. If you’re going to be flying in and out often over the winter (while always keeping in mind your 183-nights-in-FL minimum), flying out of Sarasota or Ft. Myers airports (or really, to/from anywhere on the west coast but Tampa/St. Pete) can be very pricey. Unless there is something specific in Tampa you want to be near, perhaps consider Sarasota to be your nearby metro area and look in the communities within an hour to the south from there - Venice, Osprey, Manasota ... I think Englewood is a nice little town.

[erne75]

Yep, HOA is getting out of hands with new construction. Your best bet is to avail yourself of a good realtor's services. Explain exactly what you want and dont compromise.