second home in Florida
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Anonymous
| Family and I had a nice 10 day long trip to Sarasota and had tons of fun. We rented a house with pool and wondering what would be people's recommendation for an upcoming and reasonably priced (<$750K) SFH on the gulf side as a second or vacation home. We like Sarasota but open to other cities as well. |
Anonymous
| Anna Maria Island is so nice too |
Anonymous
Not OP but looking into same. What are the reasonable price point for Anna Maria? |
Anonymous
| try east of downtown in sarasota. |
Anonymous
| Have you looked into what insurance costs? I’d never own in Florida. |
Anonymous
|
Good luck with insurance! My grandmother had owns another home in Florida which she takes great care of, had property manager, cleaner, gardener (she’s old) but I was recently talking to a family member and said the insurance they used before for decades has left the state and they can’t find another one. As she’s in the ocean they also had to pay through the government for flood insurance that was insane. They most likely will sell even though they have never made a claim in 40+ years of homeownership.
I would not buy in Florida right now and if I did I would really do a triple check in insurance. Another friend’s father who was a data scientist did a spreadsheet and decided flood insurance cost too much and wasn’t likely where they lived. He was fine for many years but they live in Naples and well a few years ago there was a huge flood that damaged the home from a hurricane and they had to cover the costs all themselves. |
Anonymous
How much are we talking for insurance? |
Anonymous
| Homeowners insurance is insane. You probably can’t even get flood insurance. |
Anonymous
I agree. I used to think I would eventually buy a place in South Florida but due to insurance and other issues I'm sticking with renting. |
Anonymous
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Sarasota? The Sarasota that just flooded on Monday Sarasota?
Are you some type of crazy? If you like vacationing in Florida, I suggest you keep renting for 10 or even 30 days Buying in Florida is a crazy financial proposition. |
Anonymous
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Never in a million years would I buy property in Florida.
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Anonymous
| My work colleague bought a house in Florida. Sold it 18 months later at a significant loss just the unload it. Insurance was insane. Also they just hated living there. |
Anonymous
| I know insurance is insane but it will balance out in the future. Also, property prices are coming down compare to what they were 6 months ago. Continue looking, OP and check the numbers. |
Anonymous
| why not outer banks instead of Sarasota? |
Anonymous
| You would be better off renting an AirBnB for the winter months. |