DawnCt

Like everywhere, it seems that the Florida housing market has gone way up in price. We would like to consider a second home, a condo preferably, near or on a beach. Which is still considered an "affordable" area for such a purchase?

Patrick

You failed to list your income, so there is no way any of us can determine what "affordable" means to you. Here in Naples, the multi million dollar condos along the beach are still going like hotcakes. The penthouses, which cost the most, are always the first to sell in any complex.

If this is an investment, you need to determine first if the "cheapest" is really going to be a good investment or not. For example, condos in the panhandle are way below cost of those here in Southwest Florida. But if you want to lounge on the beach in January or February, I'd think twice before "investing" in one of those. What is it you are looking for?

MJOB1976

The same goes for the Florida Keys. Places on the water are all over $1million and that's for a small home on a canal.

samschack

Assuming that you are aware of the incredibly inflated prices for choice properties in the better locations in FLA, my recommendation would be to look at some of the well located but older complexes where you can purchase a condo. unit and do renovations to add value beyond your investment. I live in Sarasota and we have found that some of the older condo. units on the beach, while still farily pricey, can be purchased and renovated for a much smaller investment than would be required for a newer unit in a more modern complex. Keep in mind, however that a one BR (beach front or beach side) unit in an older complex will run well over 1/2 million $ and a 2 BR will easily approach the one million + figure before any remodeling or renovation work. In a new or newer project you will be perhaps double those figures. As the first respondent indicated, afforadable might mean something different to you than it does to someone buying something of this sort but if a condo. unit selling in the $500K to $1 Million range fits your budget, that would be my suggestion.

DawnCt

I think we would be looking in the $500K range and would not be opposed to the Panhandle if we could be on the water and the view was scenic. I do understand that it would be definately cooler in January and February but we could easily enjoy Hawaii during a portion of those months. Obviously an ultimate goal would be to establish Florida citizenship for tax purposes.

DawnCt

Re: above post. I meant to say Florida residency and would prefer a condo due to maintainance issues since it would seasonal use.

Larry1

A quick check of the florida keys MLS shows plenty of "waterfront" condos, some with direct water view, in the price range of $300,000 to $500,000. Sure if you want a brand new development with top-notch amenities you will pay over a million in the Keys, but there is still plenty of waterfront living in the $500 thousand price range.

Wayne

You can find plenty of oceanfront condos along the Florida Gulf coast and the Atlantic coast that are well under $500K. There are so many areas with prices better than that, so I will name only a few that I think you will find quite acceptable: Melbourne, Cocoa Beach, Titusville, Vero Beach, Fort Pierce, Cedar Key, Crystal River, Clearwater, St Pete Beach, and some areas around Sarasota. If you can't find a dozen condos below your price range within a day, I'll eat my hat. (Well, it's made of candy)

karens

An affordable area to one person may still be one you don't want to be in.

I am partial to the Gulf Coast, Sarasota area and Sanibel/Captiva and I would be miserable in the Ft. Lauderdale area. But that's me - I think first you have to decide where you'd be happier. Do you care about museums, traffic, congestion, restaurants, etc.

tigerhawk

I bought a condo on the beach in Pompano Beach, just north of Fort Lauderdale just a little less than 2 years ago for $275K - market in that building is now over $500K. However I would guess there are more condos in the Broward county that would qualify as "affordable" than in Naples. Be sure to figure in monthly maintenance fees, utilities and property taxes - you don't get a homestead credit on property taxes for a second home.

However agree with many of the above that what you really want to ask yourself is what you like to do. Most Midwesterners gravite to the Gulf side while FL/Miami is more east coast. We are scubadivers which is why we wanted FL not Gulf side - and we had been traveling to Pompano since 1999 staying in hotels and timeshares so knew we liked the area and knew what we were getting into. I'd try staying a month or so in each location before you buy - it's time and money well spent. An area you might love in June may double in population in Feb when the snowbirds are there and be unbearable.

GoTravel

Go outside the well known areas.

For example, not Ft.Lauderdale but Deerfield or Dania. Not Miami Beach but Hallendale.

Not Daytona but New Smyrna Beach.

The less known places are usually nicer because of smaller crowds.

j_999_9

If I were looking for waterfront property in FL, I'd consider the river areas instead of the ocean. Just take a look at the communities up and down the Indian River, for instance. And you'd still be close to the beach.

Jacqueline1212

Remember that "waterfront" doesn't usually mean ocean, gulf or beach front unless specified. It usually means canal, river or lake front. Just something to keep in mind as you look through ads.

Tandoori_Girl

If you want a waterfront condo you can find plenty everywhere for $500,000. If you want a beachfront home for $500,000 you are going to have to look long and hard and most likely come up empty-handed.

floridadventurist

If you like watersports and culture, check out Southwest Florida...the fastest growing area of real estate in the nation.
Bradenton-Sarasota-Nokomis-Venice-Englewood-PortCharlotte.
For your budget you can get a canal front property in a "transitional" area if you look hard enough and Sarasota has a wonderful artists community. It's also only an hour to Tampa for 'city' type excursions.

bizburns

Daytona Beach area has numerous condos under construction; on both sides of the Intercoastal. The prices are estimated less than South Florida.

johnthedorf

DawnCT,
Think airport also. I live in the Jupiter area near West Palm. I am ten minutes from the beach (the Gulfstream's closest to the Coast). Fishing, Golf, Nordstrom and Whole Foods!! I am on the Loxahatchee R. and it will take some effort to find something here although like the Gulf it is booming. Construction is very slow because there aren't that many laborers available.

Neopolitan

If you are looking for investment, there is so much to consider. First of all, it is usually safe to assume that the less expensive the place the less likely it is to appreciate as rapidly as more expensive property will. I'll give you an example.

Twentyfive years ago my aunt and uncle were looking for a 2 bedroom condo right on a beach in southwest Florida. They looked at several near Naples (where we were) on Vanderbilt Beach. They were just over $100,000 each. they wanted to keep it under that amount. They found a place up at Englewood Beach for just over $90,000. They were happy there. My aunt and uncle have since both died, and now their two daughters own it. Last week one of my cousins was here bragging about how smart their parents were to buy that place as they are now worth over $300,000. I didn't have the heart to tell them that the exact condos they looked at in Vanderbilt Beach are now selling at over a million!

JJ5

Have about 12 friends doing this and all but 2 (they are near Tampa or Clearwater) are in SW Florida on the Gulf Side. My kids have used two of the houses or condos and I just thought I would give you their opinion. These are big city (Chicago) kids (to me)- 30 somethings.

They thought that the Sanibel/ Sarasota area was much more fun for families than the Ft. Myers/Cape Coral area. None of us are crazy about the Ft.Lauderdale area or Miami- just not for us.

My friend in Englewood loves her home. I would pay close attention to Go Travel's advice of staying away from the very popular marketed arenas. These are terribly crowded, have dense traffic already and for the most part the housing is at a high. Watch out for the downturn, because it's always BEFORE everyone who "knows" declares it is occurring, that it occurs in reality. It happened in Colorado and in California during periods of the past and it is not good to be caught in one.

xsjosh

Hi DawnCT,

I understand that your post was from last Fall, however please let me know if you are still looking for a luxury condo near the beach. I just put mine on the market for a very affordable price and it is within a few miles of the beach in historic St. Augustine, FL. Let me know via the post or email me at [email protected] if you'd like some additional information about the condo. Thanks and talk to you soon!

Josh