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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]By all means, move to Florida. But don’t expect tax or any other savings. At your anticipated house price, you’ll pay $35,000 in real estate taxes in the South Florida metro area. Almost equal amount in insurance. Two cars minimum, insurance, gas. High healthcare costs (if you need it). So while you might enjoy the climate change, you won’t save money.

You’ll thank me for this revelation.[/quote]

NP
I’m puzzled by your “high healthcare costs” and other claims.  We’ve not noticed any discernible difference on healthcare costs between DC and FL.  Some people even use concierge medicine with fixed pricing that eliminates surprise billing, telemedicine, no wait times, next day appts.  We also have EVs and our State Farm car insurance rates have dropped from DC.  We’re in Indian River County and the taxes are nowhere near $35K.  My MIL lives in Boca and her taxes are nowhere near that figure, either.  She just bought, too.

You sound like you have some strange investment/motivation or more likely, you’re just jealous.[/quote]

The people on the DCUM real estate forum have this strange fear of Florida, despite having spent no time here and having no first hand knowledge of what it's like to live here. They hear about people moving down here, and it stresses them out that people may be having a better life than them, so they dig in their heels to make up nonsensical reasons to hate Florida, most of which aren't based in fact. These threads often devolve into them saying stuff like "I could never live there because of the alligators".  Which is when you know they're arguing in bad faith.  [/quote]

PP. I don’t have a strange fear of Florida, I live here and like it. But OP has no clue about the hidden costs. Who knows what her health insurance will, ours is expensive and we get very, very little for it with high deductibles. I can guarantee her though, that her RE taxes will be 1.8% of the purchase price, and her insurance will be excruciatingly high, even if no flood zone. Two cars, high insurance and high gas consumption due to long distances (for most people, but that’s individual). Investment interest? Certainly not, that ship sailed 2 years ago. [/quote]

It's good to look into this because it sounds like it can vary. My health insurance monthly payment and deductible actually dropped significantly moving from DC to FL. Car insurance dropped too. The state income tax savings is paying for our luxury apartment.

I agree that FL RE isn't a good investment if you pay peak prices. Home prices have started to drop where we're looking, and I expect they'll drop more. They went up a lot during the pandemic so there's more room for them to decline. Many homes are sitting as buyers and sellers are at an impasse. Most of the stuff that closes sells for quite a bit under list price/less than peak prices. The exception is very large, updated homes in expensive areas. Those are still commanding $2-3M. I'm assuming that very wealthy people just don't have the same concerns.

Home owners insurance can be an issue from what I hear. Don't waive the financing contingency if you need a loan. The roof needs to be newer and in good condition to get home owners insurance, and you need home owners insurance to get a loan.[/quote]

PP here. I meant co-pay, not deductible (but deductible didn't increase either).[/quote]

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