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Dash man · 02-18-2016, 05:28 AM

Just got back from a cruise combined with a shopping trip for a condo on the beach in Florida. Starting next fall after DW is officially done working, we'll be spending winters on the east coast of Florida in a condo right on the beach with a beautiful view!
ImageUploadedByEarly Retirement Forum1455798005.508725.jpg
A nice couple moving into an independent living facility had their 1200 sq ft place for sale at too high an asking price, but after six months on the market with no offers lowered the price to a reasonable level and we got it 5% under that. We're both excited and it's just a mile from some good friends of ours. Life is good!

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Fishingmn · 02-18-2016, 05:31 AM

Nice view - congrats!

Dash man · 02-18-2016, 05:38 AM

Thanks! You can see the ocean as you walk through the front door and from both bedrooms, the living area and the kitchen. It's nicely laid out and recently renovated. Just a few minor updates needed.

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Ronstar · 02-18-2016, 05:46 AM

Congrats, Dash man!

**MichaelB** · 02-18-2016, 05:50 AM

Nice view, Dash! Congratulations on your purchase. So, are you going to take Fl residency as well?

Dash man · 02-18-2016, 06:31 AM

Quote:

Originally Posted by MichaelB

Nice view, Dash! Congratulations on your purchase. So, are you going to take Fl residency as well?

We'll start the process next winter after DW's pay checks stop in November. The PA inheritance tax is a killer, so we're going to try to spare the kids that pain. No state income tax will be nice too. Adjusting to condominium life may be a challenge since they ask more questions than applying for a security clearance or a mortgage. But one we're settled it will be wonderful doing those morning walks on the beach and not shoveling snow.

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**braumeister** · 02-18-2016, 06:46 AM

Quote:

Originally Posted by Dash man

Adjusting to condominium life may be a challenge since they ask more questions than applying for a security clearance or a mortgage.

I've owned several condos and never had to answer any questions. Are you perhaps talking about a co-op? That's a very different beast.

**MichaelB** · 02-18-2016, 07:00 AM

Quote:

Originally Posted by braumeister

I've owned several condos and never had to answer any questions. Are you perhaps talking about a co-op? That's a very different beast.

+1

Quote:

Originally Posted by Dash man

But one we're settled it will be wonderful doing those morning walks on the beach and not shoveling snow.

Better watch out, that can quickly become habit forming.

Dash man · 02-18-2016, 07:16 AM

Quote:

Originally Posted by braumeister

I've owned several condos and never had to answer any questions. Are you perhaps talking about a co-op? That's a very different beast.

No, definitely a condo. Apparently all the condos in this area have pretty tight rules and acceptance requirements. We even have to be interviewed by two board members via Skype since we're not local. They do credit checks, criminal background checks, need financial and character references, and all guests have to be registered with security...the rule book is 17 pages. But the people we've spoken to love the place and it seems to be well run. They were very up front with all of their financial information. Some of the guest rules ease up after the first year. I think we'll learn to love the place. The seller had been there nearly 40 years.

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utrecht · 02-18-2016, 07:30 AM

Ive lived in S. Florida for 7 months and I am officially a Floridian as this post is my first official whine about how many snowbirds there are. Its actually shocking even though I thought I was prepared for it.

**MichaelB** · 02-18-2016, 07:40 AM

Quote:

Originally Posted by utrecht

Ive lived in S. Florida for 7 months and I am officially a Floridian as this post is my first official whine about how many snowbirds there are. Its actually shocking even though I thought I was prepared for it.

DW and I were just discussing this last night, but our sense is that we are seeing fewest seasonal visitors now than any point since the recovery. The drop in Canadian visitors is striking.

**braumeister** · 02-18-2016, 08:18 AM

Quote:

Originally Posted by Dash man

pretty tight rules and acceptance requirements.

Definitely not a normal condo. Sounds like you have an HOA that set up rules to effectively make it a co-op while just calling it a condo. Good luck with it.

Dash man · 02-18-2016, 08:48 AM

Quote:

Originally Posted by MichaelB

DW and I were just discussing this last night, but our sense is that we are seeing fewest seasonal visitors now than any point since the recovery. The drop in Canadian visitors is striking.

I believe that's why condo prices are softening. The strong dollar is keeping the Canadians and others away.

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Dash man · 02-18-2016, 08:51 AM

Quote:

Originally Posted by braumeister

Definitely not a normal condo. Sounds like you have an HOA that set up rules to effectively make it a co-op while just calling it a condo. Good luck with it.

Apparently all the condos in this area have pretty tight requirements. We have a friend on the condo board of another nearby building and they're not much different. At least they won't have wild spring breakers taking over the town.

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Meadbh · 02-18-2016, 09:11 AM

Quote:

Originally Posted by Dash man

The strong dollar is keeping the Canadians and others away.

You betcha! Visits to the US are now prohibitively expensive for many Canadians. Most of my snowbirding friends have cut back their time in the US, are traveling elsewhere, or staying home.

I have friends who bought a Florida condo for peanuts on an estate sale in 2009, and continue to use it. I think they probably put a chunk of money into a US dollar account when the two currencies were at par. But many Canadians who bought US homes when the dollars were at par (and at a discount) are now selling them and taking advantage of higher US home values and dollar values.

45th Birthday · 02-18-2016, 11:38 AM

Quote:

Originally Posted by Dash man

No, definitely a condo. Apparently all the condos in this area have pretty tight rules and acceptance requirements. We even have to be interviewed by two board members via Skype since we're not local. They do credit checks, criminal background checks, need financial and character references, and all guests have to be registered with security...the rule book is 17 pages. But the people we've spoken to love the place and it seems to be well run. They were very up front with all of their financial information. Some of the guest rules ease up after the first year. I think we'll learn to love the place. The seller had been there nearly 40 years.

Same thing for us, also in a condo on the east coast of Florida. The condo association actually has a first right of refusal to buy whenever there's a sale. Never been exercised. It keeps the NOKD out. Anyway, actual life here doesn't involve many rules other than the golden one. Great place.

HadEnuff · 02-18-2016, 12:43 PM

I could think of worse things than having to look at that every morning.

Congratulations, and enjoy!!

ImaCheesehead · 02-18-2016, 01:13 PM

Congrats - I would never get tired of that view.

I am one week into my first snowbird experience (retired last Nov) and have a condo right on the gulf rented for 5 weeks. Question regarding your condo and guest rules. From your description, rentals in your building are probably not allowed, correct? If I were to fall in love with this experience and want a condo of my own I would not want a place that allowed rentals or VRBO, etc. Was it easy to find a place like that? Are prices for non-rental complexes higher or lower for the same level of unit? I could see it going either way.

Thanks for any insight you (or anyone reading) can offer.

kcowan · 02-18-2016, 02:12 PM

Quote:

Originally Posted by ImaCheesehead

Are prices for non-rental complexes higher or lower for the same level of unit? I could see it going either way.

Thanks for any insight you (or anyone reading) can offer.

My bet is that non-rental condos are higher. You have to pay to keep the riffraff out.

Plus all the rental condos are hurting from the evaporation of Canadian snowbirds rentals. Anyone that bought them on that contingency may be dumping them while the market is still strong!