subject: We Have Retired In Florida. We Can't Escape! Help!!! [print this page] For many Americans retiring to Florida is part of the American Dream. Thoughts of the Sun in the Fun, Golf, Tennis, Water Sports, and Fishing are a real lure. The thoughts of no snow, continuous rain, and less congestion in certain other states are certainly inviting to escape from. Florida has done a great job marketing their state. Television has painted a euphoric setting awaiting everyone.
It sounds so good. When can we pack? Developers and mosquitoes lay in waiting for the Snow Birds heading southward for discounts to get into the restaurants first as Early Birds. It doesn't get any better then this Sam says to Jane as they put their house on the market leaving lifelong friends, family and surroundings.
What is wrong with this picture? Many new residents begin to settle in, and so does reality. Higher Property taxes, Home Insurance, Hurricane and Flood Insurance awaits you. Add to that Condo and Homeowners dues, golf memberships and fees as well as assessments, and we have the recipe for a not so sunny adventure. Homeowners now selling their homes in many parts of the country are not realizing the profits they once did. There homes are taking longer to sell in most cases but they are still heading south. Some that could afford it have the agony and the ecstasy of having 2 homes. The agony comes in if they want to sell in a tight Buyer's market.
Where does the problem come in? Many people, myself included, often think that a place you visit that seems so idealist is the same as living there. Not necessarily so. Some retirees to Fantasyland soon realize they don't like the heat, lack of seasons, expenses, tourists, the drivers, the density, the homeowners associations, and assessments that await them. The beautiful ocean now becomes an ominous body of water during the hurricane season and the yearly fear factor becomes reason for unsettling. Now here comes the problem. You paid top dollar and trying to sell now becomes difficult to impossible. Your hard-earned retirement nest egg now becomes scrambled, as you might have to sell for thousands of dollars less then you bought.
What can I do to avoid this dilemma? Don't buy initially is my suggestion. It is better to rent and test the waters. Try to find out as much as possible all the negatives before you get trapped by all marketers touting Shangri-La. It is not the same as buying. It is a better test then none at all.
by: Joe Glad
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