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Advice needed.
So I am looking at buying a 2 bed apartment in Florida. With no mortgage.
I will only be staying less than 90 days at a time so won't need anything other than a standard visa under the Visa waiver programme? As I would be staying as an extended holiday approximately 3 times a year? My question is how do i go about calculating running costs? Council tax, broadband, water rates ect. I honestly have no one to ask and NO idea where to even start trying to look. Google has just confused me even more! Many thanks |
Re: Advice needed.
I would pick area of interest then contact a local realestate agency. You can look online at the agency and they usually have photos of individual agents. I would pick an agent and contact them. They can provide a lot of information and if you end up buying their fee comes from seller as the selling agent will split the fee paid by seller with the listing agent. This agent should represent your interests especially if the property purchased is listed by another agency and not the one your selected agent works for. |
Re: Advice needed.
Originally Posted by ddsrph
(Post 12570555)
I would pick area of interest then contact a local realestate agency. You can look online at the agency and they usually have photos of individual agents. I would pick an agent and contact them. They can provide a lot of information and if you end up buying their fee comes from seller as the selling agent will split the fee paid by seller with the listing agent. This agent should represent your interests especially if the property purchased is listed by another agency and not the one your selected agent works for. Fantastic advice, thank you so much |
Re: Advice needed.
Something I would also consider is just renting an apartment. You could in an off the books informal basis let trusted friends and relatives stay there during your absence to help defray the costs. I would definitely do this the first year to give you plenty of time to get to know the area and if you do decide to buy you would be in a much more informed position to do so. |
Re: Advice needed.
That is so true.. I hadn't even considered this.
only so much Google can tell you about an area. EVen driving round as part of the holiday doesn't give you the feel because your in hokiday mode so to speak. Thank you |
Re: Advice needed.
Also consider being that you will be here for at least 9 months out of a year, you will be liable to file a US tax return. And that is if the agent at the POE allows you in on the second or third trip as it would look like you are living in the US rather than just coming here as a visitor.
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Re: Advice needed.
Also consider entry under the VWP is not guaranteed. The immigration officer will see a record of all your visits and there may well come a time when one will decide you are abusing the privilege of being a visitor and refuse you entry. ETA: I posted this before I saw Rete’s reply, but nothing lost by reinforcing the point. |
Re: Advice needed.
Spending more than half the year in the US will create both tax and immigration problems.
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Re: Advice needed.
Originally Posted by Rete
(Post 12570614)
Also consider being that you will be here for at least 9 months out of a year, you will be liable to file a US tax return. And that is if the agent at the POE allows you in on the second or third trip as it would look like you are living in the US rather than just coming here as a visitor.
6 week summer holidays. 2 weeks at Christmas 2 weeks at Easter. Would that be classed as and abusing a visitors visa? May have to re think and buy property in Europe in that case. Not a risk I can take! Many thanks |
Re: Advice needed.
Why have you singled out Florida. What is wrong with a country closer to home, i.e. Portugal or Spain.
PS you did say in your original post that you would be staying for 90 days each of 3 times a year. Hence our discussion of taxes and issues at the POE. Why would you buy something that you are going to be leaving empty for nearly 9 months out of the year. The upkeep is tremendous, i.e. lawn care, air conditioning needing to be left on 24/7 in your absence, real estate taxes (is that the same as your council taxes?), retaining someone to visit the home periodically to see that it hasn't been vandalized and no pipes, etc. have broken. |
Re: Advice needed.
10 weeks a year shouldn’t cause you problems.
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Re: Advice needed.
Originally Posted by Rete
(Post 12570632)
Why have you singled out Florida. What is wrong with a country closer to home, i.e. Portugal or Spain.
PS you did say in your original post that you would be staying for 90 days each of 3 times a year. Hence our discussion of taxes and issues at the POE. Why would you buy something that you are going to be leaving empty for nearly 9 months out of the year. The upkeep is tremendous, i.e. lawn care, air conditioning needing to be left on 24/7 in your absence, real estate taxes (is that the same as your council taxes?), retaining someone to visit the home periodically to see that it hasn't been vandalized and no pipes, etc. have broken. |
Re: Advice needed.
Be good to know what area of Florida you're considering before offering advice. I'm just passing 15 years of living here just west of Disney. Property taxes/council taxes vary tremendously as to sq ft and community and 'locals' qualify for a 25% homestead discount. If you are considering the usual British 6 week school holiday break just remember thats during Floridas very hot and sticky stormy season. Plenty of new housing construction going on and property prices are on the rise. If you can give some idea where you are considering I will offer more help/advice if needed. Good luck.
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Re: Advice needed.
Originally Posted by MidwifeMatilda
(Post 12570516)
So I am looking at buying a 2 bed apartment in Florida. With no mortgage.
I will only be staying less than 90 days at a time so won't need anything other than a standard visa under the Visa waiver programme? As I would be staying as an extended holiday approximately 3 times a year? My question is how do i go about calculating running costs? Council tax, broadband, water rates ect. I honestly have no one to ask and NO idea where to even start trying to look. Google has just confused me even more! Many thanks |
Re: Advice needed.
Some people have a real downer on Florida, personally, I love it (moved to Georgia, close enough).
Council Tax = Property Tax, depends on location, size of house etc. Water, Gas & Electric (he latter will be much higher because of the A/C) You'll probably have to pay for a weekly waste collection - not in the Property Tax generally speaking This is just a "I think" moment, but some locations are picky on potential buyers, insisting on the home not being left unoccupied. Be sure to check, and probably, as other advise, use a local Real Estate Agent. Might also be worth considering employing a local property manager to maintain the property, especially if consider renting it out (had friends do that in Lake Davenport). Worked out fine for them for many years, until the pool began to leak - keep those type of long term costs in mind, even if not taking on a mortgage. |
Re: Advice needed.
Air BnB or VRBO would get a better choice if you want somewhere to spend your holidays that is more like a home than a hotel. It’s an awful lot to spend for just 10 weeks a year. All that maintenance whilst it’s empty. You still have to pay the utilities even if you’re not there (internet, TV, water, sewage, gas, rubbish collection). They don’t care that you weren’t there to watch the TV or flush the loo - there’s still the standing charge to pay. Some HOAs (home owner associations) don’t like properties to be empty and some have rules such as how long your grass can grow before it has to be cut so you may even need to pay a gardener to go round every so often to keep it looking shipshape. I’m not sure what the insurance would be on a home that’s largely unoccupied - likely to be more than one that is occupied. |
Re: Advice needed.
Property taxes alone could possibly be as much as 2 months rent on a VRBO property. If you are planning on renting out the property that is a different story, but you would then need to file US taxes.
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Re: Advice needed.
My family have owned a condo in Florida for 20 years so can offer some advise. In truth it is expensive and l know that my Dad has often regretted buying it, especially when values rocketed just before the crash but then so did his property taxes! That said, we all love it and it remains iur families favorite place to be. I wouldn’t say that now is a great time to buy as the exchange rate is very poor and there is nothing to suggest there will be any meaningful recovery in the immediate future. A couple of things to be aware of, if you do want to sell in the future, it is a lot more costly in the US then selling in the IK. Also if you are looking to rent out to holiday makers, check that any condos you are looking at allow it, some places have a minimum of 3 month rentals. Where are you thinking? |
Re: Advice needed.
Originally Posted by Twinkle0927
(Post 12572510)
Air BnB or VRBO would get a better choice if you want somewhere to spend your holidays that is more like a home than a hotel. It’s an awful lot to spend for just 10 weeks a year. All that maintenance whilst it’s empty. You still have to pay the utilities even if you’re not there (internet, TV, water, sewage, gas, rubbish collection). They don’t care that you weren’t there to watch the TV or flush the loo - there’s still the standing charge to pay. Some HOAs (home owner associations) don’t like properties to be empty and some have rules such as how long your grass can grow before it has to be cut so you may even need to pay a gardener to go round every so often to keep it looking shipshape. I’m not sure what the insurance would be on a home that’s largely unoccupied - likely to be more than one that is occupied. |
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