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Houses vs. Condos in Florida

Old 05-06-2011, 04:29 AM
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Default Houses vs. Condos in Florida

Okay I'm thinking about buying either a house on a canal in the Ft. Lauderdale to Poppano area or a condo on the beach somewhere down that way as a base of operations for my 2012 GROVE SLAM run

So I figured you guys would be the ones to ask for the pros and cons.

My two ways of thinking would be

1. Buy a condo on the beach and dry stack the boat, or possibly there are condos on the beach with intercoastal access on the other side and I could get a slip.

2. Buy a house on a canal and have a boat lift to get the boat out of the water.

So I have many questions one of them is about location for both the condo and the house. This question goes without saying, are there better spots to be? For instance, being at the back end of a Mantee zone would suck. Is there a map somewhere that shows all of the slow zones where I can get an idea of well where they are;?

Another is cost. I guess if I have a house and my own boat lift I wouldn't be paying stack fees and condo dues which could add up.

Then there's insurance on the house vs. the condo. My guess would be the condo insurance would be way cheaper than the house. So what are some estimated cost on that stuff and what are the deductibles. Say for 300k to 500k.

Also if you have a house, are there limits on what you can put behind it. Like say if you have 100ft of waterfront you can put a 50ft boat there? Stuff like that.

If anybody has a condo or house on a canal please spill the beans for me
Old 05-06-2011, 04:30 AM
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Also how is the market down there right now?
Old 05-06-2011, 04:34 AM
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I have access to the MLS - U want me to send u all the listings in Broward County that fit your criteria ?

Regarding the Market - I dont follow the condo market - but home prices in "Broward" are up from the bottom.... Think median home prices increased by 22% last year...

Its still a great time to get in......
Old 05-06-2011, 04:39 AM
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Sure I would really appreciate it. Are you a real estate agent? You don't have to waste a bunch of time on it I'm just looking into figuring out the total cost of running an operation down there and trying to figure out which would be better for me a house or condo with all things considered. Such as boat storage fees (condo), insurance and deductables on both of them, stuff like that. Basically doing a cost comparison.

I'll PM you my email, thanks!
Old 05-06-2011, 04:49 AM
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Originally Posted by ProppedUp View Post
Sure I would really appreciate it. Are you a real estate agent? You don't have to waste a bunch of time on it I'm just looking into figuring out the total cost of running an operation down there and trying to figure out which would be better for me a house or condo with all things considered.

I am a RE Broker / Investor - but only help friends/family... Not a business I would want to do full time... Got your PM - will send u the listings today....


Old 05-06-2011, 05:37 AM
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condos suck get the house, as long as it isnt too far from an inlet of course
Old 05-06-2011, 05:40 AM
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I would stay away from the condo's, they have too many restrictions with the condo commandos. With so many foreclosures and owners not paying their association fees and special assements you can get into a real money drain. Also, all it takes is one foreclusure in your building to knock down the price. No matter where you buy in Broward County the no wake zones are everywhere. The shorter then run to the inlet the higher the price. As much as I can't stand Miami-Dade, the fishing is much better there.
Old 05-06-2011, 05:43 AM
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I own waterfront in Pompano Beach in the price range you listed. PM me if you have questions.
Old 05-06-2011, 05:45 AM
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You can still find waterfront houses in Pompano for under $300,000. But, they're getting more scarce. Most of them need some work at that price.
Old 05-06-2011, 06:00 AM
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Some of those rides from homes on the canal to the inlet are loooong.
Old 05-06-2011, 06:10 AM
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many condo associations have gone belly up because so many people in the building have "walked away" from their property. Be very careful of this. When the building needs a new roof and half the people have moved out, whos going to pay for it?
Old 05-06-2011, 06:30 AM
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Don't go with a condo especially if you can afford a house on the water. There are some great deals if you look around.
Old 05-06-2011, 06:37 AM
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Propp- you have too much time on your hands!
Old 05-06-2011, 06:42 AM
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I wouldn't want a condo and pay my share of a 20% occupied building.
Old 05-06-2011, 06:44 AM
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I have owned both and still have the houses- sold the condo. In my experience, the condo was a pain in the butt- HOA fees were $1000/month, there were special assessments every year, and when the economy tanked half of the owners didn't pay their fees or rented their units by the day or week, attracting the wrong crowd. There was enormous corruption on the condo board, and they blew $1 million fighting a contractor's lawsuit they had no chance to win. Couldn't beat it for ocean access, though- it had a 50 ft. private dock behind the unit and was 5 minutes to open ocean. 2500 sq. ft- about $500k today. Houses tend to be a bit further from the ocean and not as modern for the money, but costs are more predictable. If you are looking in Miami-Dade, check out Miami Shores, Keystone Point or Eastern Shores. I have a good relationship with an experienced agent if someone on THT can't help.
Old 05-06-2011, 06:48 AM
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Dockage- my understanding is that you can have a boat up to 10 ft. smaller than your waterfront, ie 100 ft. lot, 90 ft. boat. So for that 39 Deep Impact you crave, you will be fine.
Old 05-06-2011, 06:55 AM
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Also--if you need to finance--banks are being real hardassed about approving condo loans.
Old 05-06-2011, 09:53 AM
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Originally Posted by the_gooch View Post
I own waterfront in Pompano Beach in the price range you listed. PM me if you have questions.
I'll try to send you a PM in the next day or two, thanks!
Old 05-06-2011, 09:59 AM
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Originally Posted by thumperlove View Post
Propp- you have too much time on your hands!
Your right, I should probably get a job huh Where do you live thumps, maybe I'll move in next to you and we can drink Pabst and tell 'nam stories while you help me tune up my Bayliner

Originally Posted by lasik1 View Post
Dockage- my understanding is that you can have a boat up to 10 ft. smaller than your waterfront, ie 100 ft. lot, 90 ft. boat. So for that 39 Deep Impact you crave, you will be fine.
Wait till you see my next project, I'll try to snap some pics in the next few days. This baby is custom built to handle trip Seven Marine engines

I don't normally cus, but this thing is a fu#@%!$ beast!!!
Old 05-06-2011, 10:05 AM
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Seriously though, thanks for all your input, it looks like the house is the way to go for sure. What are property taxes in Broward like?

What about insurance on a house like this? How much does it run, what are the deductables, hurricanes, floods? Basically what is the gouge on the insurance deal down there?

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