BUYING GUIDE FLORIDA
about six weeks of the year and rent it out the rest of the time. An alternative scenario is to let a mid-level property that nets about £6,000 a year, and using the profi t to rent a super beachside place for an annual break. T e best way to defi ne Jacksonville, one
of the earliest European settlements in continental America, is as a ‘real’ city with four actual seasons and nothing artifi cially holding up prices. While investors in south Florida might be tempted by alleged high rental returns from the fl ow of visitors to theme parks, here in the north-east there are established neighbourhoods with fewer rental risks attached, as tourism isn’t the main revenue stream. Two developments popular with full-time
tenants and owner-occupiers alike are Cobblestone at Eagle Harbor with 328 one- and two-bedroom condominums from $70,280 (£44,419), while the Gardens at Bridgehampton off ers one- to three- bedroom condos starting at $74,400 (£47,024). And a lower price point needn’t mean fewer facilities. Cobblestone’s built around fi ve lakes, has two pools and a clubhouse; and the Gardens at Bridgehampton prides itself on an onsite cinema, coff ee bar and even a carwash. As well as ‘distressed’ property
(foreclosures sold by the bank, because homeowners can no longer pay the mortgage), there are a number of ‘underwater’ (negative equity) condos for sale too. You can get a two-bedroom, two-bathroom condo for $45,000 (£28,440), that was worth $150,000 (£94,800) before the crash. Although there have been foreclosures
and price drops, Jacksonville wasn’t as hard- hit as southern and central Florida where there’s a great deal more surplus property. Not surprisingly, you’ll probably have to
pay that bit more to be on the Atlantic, St Johns River, or an intercoastal waterway. You’ll get a smaller home for your money, but you can’t go wrong in terms of retaining value and being able to sell on the property easily to others. Other hotspots include the hipper southside that appeals to a younger demographic, and golf community Sawgrass, where single family homes range from $400,000 (£252,800) to $1 million (£632,000). Identifying the right environment
(country club living, equestrian, ocean-side, or historic) is the key to buying the right home. Whatever you buy, you’ll pay about 50% less for a similar property in south Florida, but you’re only two hours from Orlando for that Mickey Mouse fi x. A highly rated community is San Marco
on the river, good for boating and the arts (you’re not far from downtown Jacksonville), as well as excellent schools and medical
facilities. Prices start at $150,000 (£94,800) for a small condominium, rising to $7 million (£4,424,000) for a larger luxury waterside retreat. Neptune, Atlantic and Ponte Vedra
Beaches are great beach communities with restaurants and shops on cobbled roads, and property from $250,000 (£158,000) upwards. One example is a four-bedroom, single family beach-front dwelling on turn-of-the- century Ponte Vedra Beach at $949,000 (£600,000). Values are stable here and you can pick up a ‘fi xer-upper’ (home that can be renovated) for $500,000 (£316,000). Older spots, like Ponte Vedra and St
Augustine, appeal to British buyers used to period properties. But if you buy in an historical district, such as the downtown area, any building work has to adhere to certain codes, similar to those in the UK for listed buildings.
Amelia Island Golden sands and swaying palms. Island life has always attracted homeowners keen to escape the manic mainland. And there can be nowhere better to enjoy a castaway lifestyle than laid-back Amelia Island, a peaceful seaport community off the north- east coast of Florida. One of the main attractions is the
combination of Floridian palm trees and shimmering beaches with four seasons normally associated with Blighty. T ere’s a little bit of everything here on this small island measuring only two-and-a-half by 13 miles, from history (pre-Civil War Fort Clinch), the inter-coastal river, theatres, restaurants, golf, fi shing, and most of all, a good sense of community. T ere’s also a sprinkling of ‘foreigners’,
including the British that love the small- town vibe of this older resort. Amelia Island generally attracts the kind of folk that don’t want to eat sausage and mash on the beach, preferring the annual shrimp festival. ‘Regular’ families come here alongside celebrities such as Oprah Winfrey and John Grisham, who is currently building his own house. A popular spot with the British, Summer
Beach on the south end of the island off ers mainly condominiums and townhouses. A good tip is to buy a mid-rise condo near the Ritz-Carlton Hotel that can be rented back to the hotel for overfl ow customers. T ere’s a strong South Georgia and Carolina market with people escaping the summer heat, while Canadians and Europeans hole up here in winter. A three-bedroom condo rents for $3,000 (£1,897) a week in the high summer season, and for $3,500 (£2,214) a month off -season. Oceanfront property inevitably costs
more, although there are still bargains to be
aplaceinthesun.com | 131
It’s hard to fathom why the largest city in Florida [Jacksonville] and largest by area in the US has remained the Sunshine State’s best-kept secret.
had. Today, you can get a two-bedroom condo at Ocean Place for $499,000 (£315,592) that would have been worth $800,000 (£505,960) in 2007. Anticipate paying at least half a million dollars (£316,220) for a condo and up to $4 million (£2.530 million) for a single family home. Going a block back from the water can represents better value (nearly $300,000, or £189,735), and if you’re on a higher storey it will be quieter and you’ll still get a view. With six courses on the island, golfers
are never far from a driving range. One recommendation is the aff ordable (with golf fees of $1,500, or £949) Arnold Palmer-designed North Hampton Golf Club at Fernandina Beach. Family homes are good value too, with a decent house costing about $300,000 (£189,735).
Types of property
Houses in Florida are generous in size, usually one or two-storeys, and they come in a number of styles ranging from colonial to Spanish mission. If you’re buying a detached house, you normally get a pool – and the good news is you don’t have to heat it with the high temperatures in the Sunshine State. Other typical features in a Floridian home include air-conditioning, galleried, open living areas, and large walk-in wardrobes. Many homes are in gated communities, which is useful in security terms – especially if you are only there some of the time. Condominiums, essentially apartments clustered in one or more buildings
- are popular in Florida. High-rise living, sometimes in Art Deco buildings, is more then norm in Miami. There are some older homes, but new build architecture is the choice for most homebuyers.
Above left: Aerial view of suburban Florida, Jacksonville
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