Florida sailboat slips/waterfront property

[The Good Life]

Originally Posted by CSY Man

A friend is selling a 2/2 condo with a 65’ dock on a canal. The canal is wide enough for a cat.
Located up the New River in Fort Lauderdale, gated community called Rio Nuevo. You can rent it after 2 years of ownership.
$265k

That sounds like it could be interesting depending on the HOA’s and other details.

[The Good Life]

Originally Posted by sanibel sailor

DO NOT UNDERESTIMATE TAXES AND INSURANCE. Any house that is coastal will have HIGH insurance costs. Like $5K/yr for homeowners (perhaps more if you are renting), flood (which only covers first 250K), and wind insurance- yes that's separate from flood and homeowners. And then taxes. Florida has no income tax, so property tax largely floats the boat. Nonresidents get hosed on appreciation which is capped for residents. Condos have HOA fees that about equal slip rent.


I keep my boat at someone else's private dock. $275 per month which is a good deal, $3300 per year. As much as I lust after a waterfront house and my own dock (and I can afford it), it makes no financial sense. I'll rent and put my capital to better use. Maybe after the next Florida real estate collapse, I will do something, but it would make more sense to sell when prices rise again.

Those are solid points, financially you are probably right (for now). I’m kind of in the same boat, it’s probably smarter to learn the prices and wait a few years until
That market corrects and snatch something up then. What I really want is a slip/waterfront lot to rent out as a semi long term spot to a fellow cruiser(s) that way when I’m ready it will be there waiting on me! The slips that I’ve seen so far are not sound investments as far as I’m concerned but I’m only seeing stuff on the MLS.

[CSY Man]

Originally Posted by The Good Life

That sounds like it could be interesting depending on the HOA’s and other details.

Not sure what the HOAs are, probably around $350 a month or so.
I have a condo in the same complex: The buildings are clean and well maintained, the condo for sale has been upgraded with new kitchen, bathrooms, impact windows, etc and a new A/C 2 years ago.
Dock is well built and well maintained.
PM for more details if interested.
Not listed on MLS yet.