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Kyoto

Buying In Florida

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This has been discussed in the overseas property investment section but that is lightly trafficked.

I've been looking at Orlando on Rightmove. The property market their is on it's knees:

http://www.rightmove.co.uk/overseas-property-for-sale/Orlando-Central-Coast.html?sortByPriceDescending=false

http://www.rightmove.co.uk/overseas-property/property-14780250.html

http://www.rightmove.co.uk/overseas-property/property-15748851.html

What would be involved in buying a property in Florida, and what are the major downsides, isssues, risks, concerns to doing this? Property taxes of $200-$300 a month are an issue but that's not the end of the world. I could happily imagine myself spending 3 months a year out there if the Visa situation allowed....

As an aside, if it can happen there with their quality of life, rental market, proximity to parks etc, a crash of this magnitude could definetly happen in the **** end of Birmingham whatever people say.

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This has been discussed in the overseas property investment section but that is lightly trafficked.

I've been looking at Orlando on Rightmove. The property market their is on it's knees:

http://www.rightmove.co.uk/overseas-property-for-sale/Orlando-Central-Coast.html?sortByPriceDescending=false

http://www.rightmove.co.uk/overseas-property/property-14780250.html

http://www.rightmove.co.uk/overseas-property/property-15748851.html

What would be involved in buying a property in Florida, and what are the major downsides, isssues, risks, concerns to doing this? Property taxes of $200-$300 a month are an issue but that's not the end of the world. I could happily imagine myself spending 3 months a year out there if the Visa situation allowed....

As an aside, if it can happen there with their quality of life, rental market, proximity to parks etc, a crash of this magnitude could definetly happen in the **** end of Birmingham whatever people say.

It's probably great, except for the property taxes, hot sweaty climate, ludicrous healthcare costs, people who vote for Jed Bush, mosquitoes, alligators, hurricanes, polluted or soon-to-be-polluted beaches/waterways and armed criminals.

:P

More seriously I think they had a massive building boom so now have a huge oversupply.

And I'm definitely kidding, have never even been there BTW!

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It's probably great, except for the property taxes, hot sweaty climate, ludicrous healthcare costs, people who vote for Jed Bush, mosquitoes, alligators, hurricanes, polluted or soon-to-be-polluted beaches/waterways and armed criminals.

:P

More seriously I think they had a massive building boom so now have a huge oversupply.

And I'm definitely kidding, have never even been there BTW!

Makes Middlesborough look attractive. Maybe the OP should look there instead. If not Slough Scunthorpe or Hull are cheaper and whilst they are oversupplied with armed criminals, alligators are thin on the ground unless you live in a top floor council flat.

edit: if theme parks are your bag why not invest in 'homes under the hammer' favourite Stoke on Trent? very handy for Allchav Towers and a 2 bed terrace for 40 grand. Luvverly Jubberly.

Edited by campervanman

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It's probably great, except for the property taxes, hot sweaty climate, ludicrous healthcare costs, people who vote for Jed Bush, mosquitoes, alligators, hurricanes, polluted or soon-to-be-polluted beaches/waterways and armed criminals.

:P

More seriously I think they had a massive building boom so now have a huge oversupply.

And I'm definitely kidding, have never even been there BTW!

Not to mention the terrible food,the fact you need a car to go anywhere, lack of infrastructure, ugly "countryside, and having to live in air conditioning during summer. The only reason to visit Florida is the theme parks, other than that, it is a hellhole.

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I would steer well clear of investing in Florida or any Gulf states right now. The Deepwater Horizon oil gusher is killing off the area. The fishermen are calling it game over and residents are beginning to talk of packing up and moving north.

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I would steer well clear of investing in Florida or any Gulf states right now. The Deepwater Horizon oil gusher is killing off the area. The fishermen are calling it game over and residents are beginning to talk of packing up and moving north.

Florida has a population in excess of 18 million.

Have you spoken to each one of them lately? :rolleyes:

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I could happily imagine myself spending 3 months a year out there if the Visa situation allowed....

.

Imagine all you like, you won't get a visa that allows you to stay there for 3months. Try doing it illegally and look a long stay in a high security prison.

I would steer well clear of investing in Florida or any Gulf states right now. The Deepwater Horizon oil gusher is killing off the area. The fishermen are calling it game over and residents are beginning to talk of packing up and moving north.

The Florida maybe a shit hole but the oil will be gone in a year, its well dispersed and the water is very warm with makes it degrade quickly. There are all sorts of oil leaks going on all the time in the Gulf and nobody even notices them.

Edited by Peter Hun

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This has been discussed in the overseas property investment section but that is lightly trafficked.

I've been looking at Orlando on Rightmove. The property market their is on it's knees:

http://www.rightmove.co.uk/overseas-property-for-sale/Orlando-Central-Coast.html?sortByPriceDescending=false

http://www.rightmove.co.uk/overseas-property/property-14780250.html

http://www.rightmove.co.uk/overseas-property/property-15748851.html

What would be involved in buying a property in Florida, and what are the major downsides, isssues, risks, concerns to doing this? Property taxes of $200-$300 a month are an issue but that's not the end of the world. I could happily imagine myself spending 3 months a year out there if the Visa situation allowed....

As an aside, if it can happen there with their quality of life, rental market, proximity to parks etc, a crash of this magnitude could definetly happen in the **** end of Birmingham whatever people say.

3 reasons not to buy in FL:

1. Weather.

2. Weather.

3. Weather.

3 reasons to buy in Southern CA:

1. Weather.

2. Weather.

3. Weather.

Bottom line, the climate in FL is horrible most of the year whereas SoCal borders on perfection. You can buy a nice condo in SoCal for under $200k--and I do mean a nice one. You can buy cheaper of course. FL may be even less than that but think about the world's worst climate in terms of humidity, hurricanes, mosquitoes, oil slicks.......

Property taxes in SoCal are about 1.25% of purchase price locked in for life with adjustments limited to a 1% increase of the whole tax per annum. Condo fees can run $125-$250 pm depending on amenities.

Visas are easy if you own a property--two lots of 90 days per annum.

Edited by Realistbear

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Imagine all you like, you won't get a visa that allows you to stay there for 3months. Try doing it illegally and look a long stay in a high security prison.

You seriously can't take a 3-month holiday in the States?

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You seriously can't take a 3-month holiday in the States?

I was thinking that - a B2 visa is for 6 months. Does anyone know how frequently you can have them and whether that is impacted by owning a place there?

EDIT ^ Just spotted RBs post, thanks

Edited by Kyoto

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The Florida maybe a shit hole but the oil will be gone in a year, its well dispersed and the water is very warm with makes it degrade quickly. There are all sorts of oil leaks going on all the time in the Gulf and nobody even notices them.

It's not so much the oil but the highly toxic Corexit 9500 dispersant BP has used (banned in Europe) that's mixing with the oil and methane. It's creating dead zones out at sea.

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What Visa type are you referring to, RB ?

Why would you want a visa? If you're not planning on working you can enter under the visa waiver program and spend up to 90 days in the US. As far as I am aware you can do this as many times as you want. So you could spend 90 days there cross a border then recross back into the US and have a further 90 days. Then repeat as required.

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What Visa type are you referring to, RB ?

IIRC anyone can stay for 90 days so long as you have had a 90 day break? Much as it is in the UK for ferners coming here.

I used to have an IRC1 which was permanent.

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This has been discussed in the overseas property investment section but that is lightly trafficked.

I've been looking at Orlando on Rightmove. The property market their is on it's knees:

http://www.rightmove.co.uk/overseas-property-for-sale/Orlando-Central-Coast.html?sortByPriceDescending=false

http://www.rightmove.co.uk/overseas-property/property-14780250.html

http://www.rightmove.co.uk/overseas-property/property-15748851.html

What would be involved in buying a property in Florida, and what are the major downsides, isssues, risks, concerns to doing this? Property taxes of $200-$300 a month are an issue but that's not the end of the world. I could happily imagine myself spending 3 months a year out there if the Visa situation allowed....

As an aside, if it can happen there with their quality of life, rental market, proximity to parks etc, a crash of this magnitude could definetly happen in the **** end of Birmingham whatever people say.

The house in the second link on that development would have sold for $210k in 2000 i cant comment on condos and appartments but they have always been significantly cheaper. My parents used to own a place out there (not on that development but one very similar over on SR27) from 2000-2005 but sold just before it started to take a serious dip. To be honest they were getting a little sick of it as the state were basicaly just ramping up taxes on non-resident owners to cover the reducing tax count so its probably a lot more than what i knew back then.

The down sides are, in that climate you need to leave the AC on all the time so expect significant electric bills even when its not in use, same for water as you need to water your garden through an automatic irrigation system, the pool will need to be looked after every week as well unless you like green slimy pools. You will need to pay for the Homeownes accociation fees each month - so its an expensive business to leave it empty.

You need a visa if you want to keep coming back, if you stay more than 30 days a year expect to go into secondary or tertiary interogtion by immigration officials (been there, done that, its not pleasant) If you mention that you own a holiday home to the immigration official they will automaticaly hate you and make your life as hard as they can. If you try to do a border run theres a very good chance they just wont let you back in and tell you to get a proper tourist visa.

If you were thinking of renting it out when your not there, its a nightmare at the moment. I still have access to an owners forum and the constant chat there (and has been for years) is the reducing numbers of visitors and how increasingly hard it is to rent out. Lots of people got greedy and bought out there assuming they could rend out 30 weeks per year at top rates without problems, hence the vast amount of properities up for repo now.

Also buying a repo out there can be a nightmare, if the ACs been switched off (which it probably will have been) the mould will be so bad you will need to gut and redo the entire house, i know people who have been stung on this before when they bought blindly from the UK. Personally id stay clear.

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IIRC anyone can stay for 90 days so long as you have had a 90 day break? Much as it is in the UK for ferners coming here.

I used to have an IRC1 which was permanent.

Do gentlemen such as yourself need to obtain visas?

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Imagine all you like, you won't get a visa that allows you to stay there for 3months. Try doing it illegally and look a long stay in a high security prison.

That's not right. So long as you're not planning on doing any work, then you can go in on the visa waiver for 90s days at a time no problem. I know plenty of people that do this each summer to stay in holiday homes. If you want to stay up to 6 months, then you can also apply for a B1/B2 business and visitor visa.

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3 reasons not to buy in FL:

1. Weather.

2. Weather.

3. Weather.

3 reasons to buy in Southern CA:

1. Weather.

2. Weather.

3. Weather.

Bottom line, the climate in FL is horrible most of the year whereas SoCal borders on perfection. You can buy a nice condo in SoCal for under $200k--and I do mean a nice one. You can buy cheaper of course. FL may be even less than that but think about the world's worst climate in terms of humidity, hurricanes, mosquitoes, oil slicks.......

Property taxes in SoCal are about 1.25% of purchase price locked in for life with adjustments limited to a 1% increase of the whole tax per annum. Condo fees can run $125-$250 pm depending on amenities.

Visas are easy if you own a property--two lots of 90 days per annum.

While the weather in Florida is nasty during the summer it can also be perfect during the winter so to say the weather is always horrible is just plain wrong. What would worry me about SoCal is the earthquake threat. I know you're not supposed to make life decisions based on events that have a minute risk of happening but the experts have been saying for a while that it's been over 100 years since the last big one and so the next big one will happen any day now. I'd rather put up with the near certainty of several hurricanes than the remote possibility of a mega-quake.

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  • 141 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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