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Thread: Thinking abt saving up $25k to put down on a beach front condo in FL

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08-12-2024, 02:14 PM
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Thinking abt saving up $25k to put down on a beach front condo in FL

its either take that $ and put it towards a condo, a roth/brokerage account, or on a new construction build.

something about having a beach front condo in daytona beach seems fukking legit tho.
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08-12-2024, 02:28 PM
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I don't think 25k is gonna get you a down payment on an 700k condo. How are you going to pay for the HOA, property taxes, and insurance, if you can even find someone in FL to insure it
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08-12-2024, 02:28 PM
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HOA, property tax, and beach front insurance will kill you
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08-12-2024, 02:33 PM
#4
Originally Posted By JT11RTR⏩
I don't think 25k is gonna get you a down payment on an 700k condo. How are you going to pay for the HOA, property taxes, and insurance, if you can even find someone in FL to insure it
just shows how braindead some miscers are when it comes to real estate

yeah bro, because a $199k purchase price ($175k loan) and an HOA of only $532/mo plus the ability to short-term rent it when youre not there is so insurmountable.
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08-12-2024, 03:03 PM
#5
Originally Posted By friesbruh⏩
just shows how braindead some miscers are when it comes to real estate

yeah bro, because a $199k purchase price ($175k loan) and an HOA of only $532/mo plus the ability to short-term rent it when youre not there is so insurmountable.
if you really found a $200k beachfront condo that's in livable condition, good for you.

that said, I find it hard to believe a $200k beachfront condo has HOA fees of $532/month. But if you can make it work within your budget, why not?
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08-12-2024, 03:06 PM
#6
Originally Posted By Zackad⏩
if you really found a $200k beachfront condo that's in livable condition, good for you.

that said, I find it hard to believe a $200k beachfront condo has HOA fees of $532/month. But if you can make it work within your budget, why not?
Ive seen some OKAY ones around that range in Daytona Beach area.
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08-12-2024, 03:10 PM
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they have these $200-250k condos at myrtle beach but hoa is often like $800-1000+/month. you could get prop manger to handle renting them but not sure what the returns are after everything is paid. and i guess they can raise hoa fees at any time. and it would suck to have people trash the place and need to coordinate getting repairs done
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08-12-2024, 03:11 PM
#8
Originally Posted By 6gorillion⏩
Ive seen some OKAY ones around that range in Daytona Beach area.
Originally Posted By eddiehaskell⏩
they have these $200-250k condos at myrtle beach but hoa is often like $800-1000+/month. you could get prop manger to handle renting them but not sure what the returns are after everything is paid. and i guess they can raise hoa fees at any time
jesus fuk

I guess I'm speaking from a CA market where anything beachfront is like $800k min, before you even get into the quality of the home lmao. and only seen that level of HOA fee on multi-million dollar homes…wild.
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08-12-2024, 03:14 PM
#9
Originally Posted By JT11RTR⏩
I don't think 25k is gonna get you a down payment on an 700k condo. How are you going to pay for the HOA, property taxes, and insurance, if you can even find someone in FL to insure it
I just ran a search. 185K for a beach view place in Daytona Beach. And the interior is nice as fukk. Its built more like an extended stay hotel room then a multi bedroom apartment. But still not bad for a vacation spot.

Cold hard truth is you can pick up nice beach front condo's in Florida for 300K or less.



https://www.realtor.com/realestatean...=srp-list-card


Another for 250K that's about double the size.

https://www.realtor.com/realestatean...=srp-list-card
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08-12-2024, 03:15 PM
#10
I looked at 30A property not too long ago. I'd like to have my current main house and have one small house in the mountains (cabin) and a place near a beach, probably Florida (condo).
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08-12-2024, 03:16 PM
#11
Originally Posted By Zackad⏩
jesus fuk

I guess I'm speaking from a CA market where anything beachfront is like $800k min, before you even get into the quality of the home lmao. and only seen that level of HOA fee on multi-million dollar homes…wild.
Yeah, I mean CA is straight out of control with prices. I was surprised how much cheaper Florida is outside of Miami
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08-12-2024, 03:24 PM
#12
Originally Posted By Zackad⏩
jesus fuk

I guess I'm speaking from a CA market where anything beachfront is like $800k min, before you even get into the quality of the home lmao. and only seen that level of HOA fee on multi-million dollar homes…wild.
You can get into good beachfront condo's for a reasonable price. But living in a high rise building with amenities. Security round the clock. Etc. HOA fee's run you a good bit. $1000-1500 per month seems about normal. Before I met my GF I briefly considered getting a beachfront Condo in Fl and even relocating there. Even on a middle income cops salary (70-100K per year) its affordable.


An even bigger kicker is the beaches/water in Florida are far better then California beaches (IMO). I'd never take a 'beach trip' to California. Go to Florida at least 1X per year though. For a normal brah with a decent enough budget (350-400K) you can get a pretty amazing beachfront place in Florida. If its in a good city you can VRBO it out and it stay booked up too.




Originally Posted By hendrixfreak70⏩
I looked at 30A property not too long ago. I'd like to have my current main house and have one small house in the mountains (cabin) and a place near a beach, probably Florida (condo).
This was my initial retirement goal. Place in Colorado or something with mountains and outdoor rec for half the year. Beachfront condo in Florida for the other half the year. It still might happen but I've been thinking of spending a few years in Thailand before I settle back in the US.
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08-12-2024, 03:29 PM
#13
Originally Posted By guest89⏩
You can get into good beachfront condo's for a reasonable price. But living in a high rise building with amenities. Security round the clock. Etc. HOA fee's run you a good bit. $1000-1500 per month seems about normal. Before I met my GF I briefly considered getting a beachfront Condo in Fl and even relocating there. Even on a middle income cops salary (70-100K per year) its affordable.


An even bigger kicker is the beaches/water in Florida are far better then California beaches (IMO). I'd never take a 'beach trip' to California. Go to Florida at least 1X per year though. For a normal brah with a decent enough budget (350-400K) you can get a pretty amazing beachfront place in Florida. If its in a good city you can VRBO it out and it stay booked up too.
that explains why everyone I know keeps moving there lmao. for that price an exorbitant HOA fee is much more stomachable.

You can just say the Atlantic is way better than the Pacific bro, I know

b-b-but you come to the west coast for the surf!
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08-12-2024, 03:31 PM
#14
Is that just the special assessment?
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08-12-2024, 03:34 PM
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Good luck!!
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08-12-2024, 03:38 PM
#16
Originally Posted By guest89⏩
You can get into good beachfront condo's for a reasonable price. But living in a high rise building with amenities. Security round the clock. Etc. HOA fee's run you a good bit. $1000-1500 per month seems about normal. Before I met my GF I briefly considered getting a beachfront Condo in Fl and even relocating there. Even on a middle income cops salary (70-100K per year) its affordable.


An even bigger kicker is the beaches/water in Florida are far better then California beaches (IMO). I'd never take a 'beach trip' to California. Go to Florida at least 1X per year though. For a normal brah with a decent enough budget (350-400K) you can get a pretty amazing beachfront place in Florida. If its in a good city you can VRBO it out and it stay booked up too.





This was my initial retirement goal. Place in Colorado or something with mountains and outdoor rec for half the year. Beachfront condo in Florida for the other half the year. It still might happen but I've been thinking of spending a few years in Thailand before I settle back in the US.
I'm not sure I want to do it that way or not now. The ol' lady and I did some calculations and we'd be better of, financially, going on several vacations to these places a year than paying the upkeep, power, taxes, and stuff like that. We are thinking we will spend 15k a year on vacations and two houses would likely exceed that considerably. In 2016 we went to Disney, Breckenridge, a cruise, Tennessee, and a few camping trips in our camper. We spent 15k I think.
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08-12-2024, 03:39 PM
#17
you done got me looking at beach condos in myrtle again…i look several times a year and think about how i might like a little condo there.
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08-12-2024, 03:40 PM
#18
$25K? Are you a time traveler from 1963?
Everything I post is satire.
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08-12-2024, 03:40 PM
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Home and car insurance is a fukin' joke in FL.
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08-12-2024, 03:41 PM
#20
Id worry about getting eaten by an alligator or something so id put the money in stocks instead
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08-12-2024, 03:46 PM
#21
Originally Posted By friesbruh⏩
its either take that $ and put it towards a condo, a roth/brokerage account, or on a new construction build.

something about having a beach front condo in daytona beach seems fukking legit tho.
You gonna live there or short term rental?
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08-12-2024, 04:06 PM
#22
Originally Posted By hendrixfreak70⏩
I'm not sure I want to do it that way or not now. The ol' lady and I did some calculations and we'd be better of, financially, going on several vacations to these places a year than paying the upkeep, power, taxes, and stuff like that. We are thinking we will spend 15k a year on vacations and two houses would likely exceed that considerably. In 2016 we went to Disney, Breckenridge, a cruise, Tennessee, and a few camping trips in our camper. We spent 15k I think.
Yeah if you love where you live that's a better option. You get more variety.


I like hiking, snowboarding, rock climbing, hunting, etc. so mountains are appealing. I also like wakeboarding, snorkeling, scuba diving, fishing, boating, etc. So a SFlorida beach place is very appealing too. Ideally I'd like to split my time in two places.



However if you just like to travel and chill it makes more sense to vacation multiple spots.
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08-12-2024, 05:56 PM
#23
Originally Posted By guest89⏩
I just ran a search. 185K for a beach view place in Daytona Beach. And the interior is nice as fukk. Its built more like an extended stay hotel room then a multi bedroom apartment. But still not bad for a vacation spot.

Cold hard truth is you can pick up nice beach front condo's in Florida for 300K or less.



https://www.realtor.com/realestatean...=srp-list-card


Another for 250K that's about double the size.

https://www.realtor.com/realestatean...=srp-list-card
yup. and they are all over the place within 10mins of the beach or hell even beach-front.

and if you have great credit you can probably finance it as a second home for 10% or 20k down.

i charge between $350-650 a night at my current STR plus a deposit so so far ive not had to worry abt ppl trashing it. they pay out the ass for it. seems like extra guarantee they wont but y'never know.

Originally Posted By eddiehaskell⏩
they have these $200-250k condos at myrtle beach but hoa is often like $800-1000+/month. you could get prop manger to handle renting them but not sure what the returns are after everything is paid. and i guess they can raise hoa fees at any time. and it would suck to have people trash the place and need to coordinate getting repairs done
was looking there too tbh. leaning more towards daytona.

$800-1000 hoa in myrtle beach is absurd, wood never/10.

Originally Posted By Basedbaby⏩
You gonna live there or short term rental?
second home minimum amount of time mortgage company requires me to be there and STR it the rest of the time.

on the off chance i take investor funds then they would have access to it at a discounted rate for x nights per year (tho i need to check the legality of that part of it). not as time share but as an added benefit. kind of like a syndication but those take a few grand a year to run.

Originally Posted By guest89⏩
Yeah if you love where you live that's a better option. You get more variety.


I like hiking, snowboarding, rock climbing, hunting, etc. so mountains are appealing. I also like wakeboarding, snorkeling, scuba diving, fishing, boating, etc. So a SFlorida beach place is very appealing too. Ideally I'd like to split my time in two places.

However if you just like to travel and chill it makes more sense to vacation multiple spots.
same exact sentiment here. currently split my time between ohio & colorado. may throw in a weekend here or there in florida.

Originally Posted By guest89⏩
You can get into good beachfront condo's for a reasonable price. But living in a high rise building with amenities. Security round the clock. Etc. HOA fee's run you a good bit. $1000-1500 per month seems about normal. Before I met my GF I briefly considered getting a beachfront Condo in Fl and even relocating there. Even on a middle income cops salary (70-100K per year) its affordable.

An even bigger kicker is the beaches/water in Florida are far better then California beaches (IMO). I'd never take a 'beach trip' to California. Go to Florida at least 1X per year though. For a normal brah with a decent enough budget (350-400K) you can get a pretty amazing beachfront place in Florida. If its in a good city you can VRBO it out and it stay booked up too.

This was my initial retirement goal. Place in Colorado or something with mountains and outdoor rec for half the year. Beachfront condo in Florida for the other half the year. It still might happen but I've been thinking of spending a few years in Thailand before I settle back in the US.
thats what im saying. way more affordable than people realize.

dang man sounds like we just about have the same goal in terms of where to split time in between.

Originally Posted By tripod29⏩
Good luck!!
ty bruh

Originally Posted By eddiehaskell⏩
you done got me looking at beach condos in myrtle again…i look several times a year and think about how i might like a little condo there.
same bruh.
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08-12-2024, 06:41 PM
#24
Originally Posted By guest89⏩
Yeah if you love where you live that's a better option. You get more variety.


I like hiking, snowboarding, rock climbing, hunting, etc. so mountains are appealing. I also like wakeboarding, snorkeling, scuba diving, fishing, boating, etc. So a SFlorida beach place is very appealing too. Ideally I'd like to split my time in two places.



However if you just like to travel and chill it makes more sense to vacation multiple spots.
I actually hate where I live lol. I have a very nice, large house. I pay $1250 or so a month and send an extra 400 a month to it. I pay no land taxes. I've had it for sale since January too. So, I'd stay here if it didn't sell because I have a low interest rate, note, and lots of space. I'd have a little every year to travel and enjoy life since I don't pay a ton of money on a house.
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08-12-2024, 06:54 PM
#25
What location
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08-12-2024, 07:22 PM
#26
Originally Posted By friesbruh⏩
its either take that $ and put it towards a condo, a roth/brokerage account, or on a new construction build.

something about having a beach front condo in daytona beach seems fukking legit tho.
do you already own one house?
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08-12-2024, 07:32 PM
#27
people are paying $1k/mo+ to a homeowners association? what the fuk for
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08-12-2024, 08:55 PM
#28
Originally Posted By 4ea⏩
do you already own one house?
yup
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08-12-2024, 09:00 PM
#29
Originally Posted By MiscMathematician⏩
people are paying $1k/mo+ to a homeowners association? what the fuk for
Cause they're fkn retarded
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08-12-2024, 09:01 PM
#30
Originally Posted By MiscMathematician⏩
people are paying $1k/mo+ to a homeowners association? what the fuk for
Yea I just looked up the one OP sent it was 700 month HOA fees

Thats not even including the mortgage wtf

Might as well buy a $400k house 15 mins from the beach…same monthly payments then
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