Having been a long-term work from home IT engineer who can live pretty much anywhere in the eastern half of the country, I bought a winter place in Florida in 2017, in Charlotte County. Paid $90K for a small 2bd/2ba. Best financial decision I ever made, I save $10K+ a year in state income tax. It would be harder to do today, but my little place is still only about $220K. Insurance IS expensive, but insurance plus property taxes are 50% less than JUST property taxes on my place up north. And I have housemates up there that pay for that house year-round. At this point, I spend about two months a year in Maine. I am actually building a new house next door to my current one here in FL. I have hobbies such that I need a MUCH bigger garage, so I am fixing that. Keeping the current house as a rental is the plan. Both places are paid for, so it's good income, and I can always sell one or the other if it makes sense to. My first words to my realtor - NO HOAs. Don't even bother to show me anything in an HOA. And buy the smallest, cheapest place you can live comfortably in. But my mother ended up selling her place in ME and buying a condo here in Charlotte Co. in 2018. Was only $65K, worth $120K today. 2-story building so exempt from most of the new nonsense. I think the big factor is knowing people in the area before moving here. I ended up where I am due to friends who already had a place here, and they let me live in their place while I looked for one for a few months. There is a whole friend group here from Maine - we call ourselves the "Maine ex-pats". I really love it here - wish I could never see snow again. I will take FL summer over ME winter every single time, and FL winters are nicer than ME summers.
That's awesome! I'm sure we would all love to know what community you're in. To cover all of your fees including acquisition, taxes which are very high on waterfront, insurance which is also very high on waterfront and all your utilities and the HOA all for $45,000? That sounds like a bargain we all need to know about! Most beachfront condos that rent for $15,000 per month are well over a million dollars for acquisition. Would you mind letting us know what the name of the complex is? Thank you!
I used to be a snowbird. However, it was because my mom loved Florida. Me? Not so much. I missed my friends in NY. Since 1997, I haven't been a snowbird. i stay in NY. I don't really miss Florida.
Having been a long-term work from home IT engineer who can live pretty much anywhere in the eastern half of the country, I bought a winter place in Florida in 2017, in Charlotte County. Paid $90K for a small 2bd/2ba. Best financial decision I ever made, I save $10K+ a year in state income tax. It would be harder to do today, but my little place is still only about $220K. Insurance IS expensive, but insurance plus property taxes are 50% less than JUST property taxes on my place up north. And I have housemates up there that pay for that house year-round. At this point, I spend about two months a year in Maine. I am actually building a new house next door to my current one here in FL. I have hobbies such that I need a MUCH bigger garage, so I am fixing that. Keeping the current house as a rental is the plan. Both places are paid for, so it's good income, and I can always sell one or the other if it makes sense to.
My first words to my realtor - NO HOAs. Don't even bother to show me anything in an HOA. And buy the smallest, cheapest place you can live comfortably in. But my mother ended up selling her place in ME and buying a condo here in Charlotte Co. in 2018. Was only $65K, worth $120K today. 2-story building so exempt from most of the new nonsense.
I think the big factor is knowing people in the area before moving here. I ended up where I am due to friends who already had a place here, and they let me live in their place while I looked for one for a few months. There is a whole friend group here from Maine - we call ourselves the "Maine ex-pats". I really love it here - wish I could never see snow again. I will take FL summer over ME winter every single time, and FL winters are nicer than ME summers.
Good Advice!❤
Great advice about renting first.
It’s all true. First hand experiencer here.
Best 3 tips
Rent short term first
Rent short term first
Rent short term first
I rent my beach condo January February and March for $45,000. The other 9 months are mine and everything (HOA and utilities) is paid for.
That's awesome! I'm sure we would all love to know what community you're in. To cover all of your fees including acquisition, taxes which are very high on waterfront, insurance which is also very high on waterfront and all your utilities and the HOA all for $45,000? That sounds like a bargain we all need to know about! Most beachfront condos that rent for $15,000 per month are well over a million dollars for acquisition. Would you mind letting us know what the name of the complex is? Thank you!
45,000? Wow
I used to be a snowbird. However, it was because my mom loved Florida. Me? Not so much. I missed my friends in NY. Since 1997, I haven't been a snowbird. i stay in NY. I don't really miss Florida.
💪❤