cheapest housing available almost ANYWHERE

[Landslave]

   The town north apartment condos in St. Pete Florida are a rare deal.  If you are 55+ or have a family member to title this to, this is a gift from the NW gods!  First, here is the link.  Then a description of why this is SUCH a good deal.

http://townapartmentsnorth.com/listings/

http://www.estately.com/FL/33714/condo?active_only=true&max_bath=3&max_bed=3&max_price=150k&min_bath=1&min_bed=1&order=price_asc

So, why is this such an exceptional deal?

First, this is in a safe, north st. Pete neighborhood, and out of a flood zone.

Second, there is stability because it is owner-occupied only.  NO RENTERS.  And these are concrete block condominiums from the 1960s.  Solidly built.

Third,  a one bedroom HOA is under $250, and that includes hot and cold water, sewer, trash, swimming pool, outside maintenance, gas for cooking and heating.  All you pay for is electricity and phone (electricity is about $125 in the worst of summer. 

Fourth, TAXES!!  With the value, being under $50,000, when homesteaded, makes the taxes less than $500 per year and possibly NOTHING. 

Fifth, by making Florida your homestead, there is no income tax, there are liability protections afforded in few other states, and there are no state dividend, capital gains, or intangible tax.  There is no state tax on inheritance or pensions. 

Sixth,  Weather!  You will have a great place to avoid winter.  The weather from Halloween to Easter is GLORIOUS.  G-L-O-R-I-O-U-S.  Sunshine becomes monotonous.  The average winter weather is high of 72, low of 54.   It can be a year-round home, or you can set the thermostat, pull the blinds, lock the door and escape the heat.  Travel from spring to autumn anywhere you want to go, knowing that you have a domicile in a tax-advantaged state that is ideal.

Seventh, INSURANCE.  Group insurance for the building is cheap and studs-in insurance is very cheap, too (about $350 per year).

Eighth, LOCATION.  St. Pete is a nice city.  It would be less than a 5 mile bicycle ride on safe flat streets to see major league baseball.  The beach is a 20 minute drive or 60 minute bike ride.  A large airport (Tampa International) is only a 20 minute drive.  Pro football and hockey are less than 40 mins away by car. 

Ninth, COST OF LIVING.  LOW--Florida is remarkably cheap to live in. 

Tenth, JOB MARKET FOR PROFESSIONALS.  Quite good.  Most professional salaries are comparable to other parts of the country with low COL, to raise standard of living and aid in accumulation of NW.  VERY MUSTACHIAN!   Service sector and retail jobs are paid less, but are available.  Airport shuttle drivers are paid quite well. 

So, what are the costs?

Purchase price less than $30,000 (was less than $20,000 two years ago), including dedicated carport to leave a vehicle in.

MONTHLY /ANNUAL COSTS:
HOA $225 per month / $2700 per year
Taxes $50 per month / $600 per year (could be zero!)
Electricity $60 per month / $720 per year
phone ?
insurance $30 per month/$360 per year

TOTAL ANNUAL COST OF OWNERSHIP = $4380.  You will likely save that much in state income/dividend/capital gains/intangible/personal property taxes/car registration and inspection fees (Florida has no inspections).  The sales tax is 7%. 

If I didn't already have a house in St. Pete, I would buy one this afternoon! 

FIRE as fast as you can!

[shawn77777]

I am seriously debating that would rather have a house so I can have dogs...

[bobechs]

I am seriously debating that would rather have a house so I can have dogs...

Yes; dogs come first.  It's the operational motto of MMM forums.

[Bearded Man]

I've been looking at St. Petersburg FL as well as Clearwater, Ocala and Tampa area for a while.

I've had a few BRAND NEW houses for 115K with AC and everything marked on zillow for months. Just this last week I found out that there is no estate tax in Florida, although there are ways to eliminate it anyway through a trust fund even if there was. But between the low cost of living, good paying IT management gigs (seems like there are more mgmt gigs there than technical gigs), weather, no estate or state tax, and low property and sales taxes, I'm really considering it.

Right now it's down to either FL or Spokane, WA for me.

[bobechs]

Just one question.

Will this turn you into a Florida Man?

[Matumba]

What if you are in your 30s? Where to look in FL if you want cheap col,   IT job opportunities and nice weather?

[acroy]

Smoking deals!! but looks... depressing. Like my grandparents lived there for 30years, and then died. hmmmmm.

[Landslave]

Smoking deals!! but looks... depressing. Like my grandparents lived there for 30years, and then died. hmmmmm.

Place for 30 year olds:  If you are politically conservative and religious, I would select Jax.  Otherwise I would consider a downtown condo or house in St. Petersburg, Sarasota, Tampa, or anywhere along the lower SE coast.  Miami to Palm Beach is a mass of humanity but high paced and trendy.  If you are looking for a medium sized town I might consider Jupiter Beach, Winter Garden, or Stuart.  Generally the progressive parts of the state are along the coasts south of I-4.  The conservative parts of the state are in the interior, and more so as you head north, except Orlando is the most "metro" of all of Florida's cities.  Miami is the biggest city.  Tampa/St. Petersburg/Clearwater/Bradenton/Sarasota is the 2nd largest city.  Orlando is 3rd.  Jax is 4th.  I like the look and topography (rolling hills) of Clermont, Winter Garden, Mt. Dora, and Tavares --but these are smaller towns.  Tech industry jobs are mostly in the bigger cities.  The winter weather is much better south of I-4.  It is actually quite cold sometimes in the upper 1/2 of the state.  Most people are disappointed in the panhandle....it is called "LA" which stands for "Lower Alabama" and the beaches there are among the prettiest in Florida, but it is known as the "Redneck Riviera" for good reason.   St Augustine is trendy and quirky, but a small town and chilly in winter.  Summers are long and BRUTAL anywhere in Florida, but it lasts longer the further down the peninsula you choose to live.
    All considered, many people from the rest of the country feel most adapted and familiar with the culture of Tampa.  Or Jax if you are a Southern Baptist. 
     NOTE:  even though Jax is listed as the largest city in the state, the suburbs are within the city limits, and it is actually a MUCH smaller city than the others. 
    What Florida will do is make you rich if you are a Mustachian saver and will drench you in sunshine.  Eternal Summer doesn't suck.

    Good Luck wherever you choose.

[seathink]

Spokane!! That's my hometown. I'd say it's a super place to FIRE in. I'd vote it has even more glorious weather than St. Pete's (I have uncles there, too) because you get snow in the winter without negative digits, and a beautiful, mild summer with NO humidity. Also gorgeous springs and falls. Colleges for culture and cheap housing. And you miss the downsides of a slow job market being FIRE. :)

[ImCheap]

We can add this one to the list

Eleventh, shuffleboard

[Landslave]

We can add this one to the list

Eleventh, shuffleboard

That's very funny!!  Actually there is a St. Pete municipal shuffle board and lawn bowling center which has awesome Friday night parties a couple times a year.  And Tampa is the restaurant chain exporter to the world, too.  St. Pete used to be old people, then it was newly weds and nearly deads, but now it is lots of 25-50 year olds.  And the St Pete campus of USF is turning the downtown into a college town, too, which is quite cool.  There are 6 high rish condos under construction right now.  One doesn't see that in every city these days.

[arebelspy]

That's an ugly high HOA, and with it being restricted, the sale potential if you need to sell is much more difficult.

Almost all of those benefits (no state income tax, good weather, etc.) apply to the general location, not that specific one. FL may be a good place to look for housing, but those condos specifically?  Eh.  Not for me.

[paddedhat]

Add up the HOA fee, plus the opportunity cost of the purchase, and the monthly is more than it cost me to spend the winter at a really sharp RV resort, an hour or two north of there.  Unlike the charming soviet style bunkhouse posted, I stay in a beautiful setting, full of amenities,  and then point the wheels north at the end of the habitable winter months. In previous years I have glanced at all kinds of low cost opportunities to buy something in FL. but always found that the downside can be pretty substantial.

 After we retired early, the wife and I found something pretty interesting about continuing to use Pennsylvania as our official domicile state. That being, it can be a LOT cheaper than a some of the states that northeasterners flock to, as retirement destinations in the southeast. First, in PA. there are no state taxes on pensions, or SS. The fact that FL. has no state income tax is pretty meaningless to us, since our state tax hit is a few hundred bucks, on IRA withdraws.  Second, unlike a lot of southeastern states, we don't have personal property tax on vehicles, or huge taxes on investments. Finally, our car insurance is half of what I would cost in FL. and our homeowners is roughly a tenth of what it would be on a matching home in the Tampa area. Finally, unlike FL. the best part is that there is little reason to flee this area from Easter to Halloween, since it's absolutely beautiful here in the mountains. Personally, it's all about migrating with the seasons. Nothing is sweeter that leaving the mountains here, after Thanksgiving, and heading south. Last winter's continual snowstorms, and 18* below zero temps, were part of the morning news, not something to suffer through. Life does not suck.

[Matumba]

What state is it,  paddlehat?

[paddedhat]

What state is it,  paddlehat?

What state is what?  Pennsylvania, where we live 6-7 months a year, or North of Tampa, where we spend the other five months. Sorry, but I'm not sure what you are asking?

[CowboyAndIndian]

Place for 30 year olds:  If you are politically conservative and religious, I would select Jax.  Otherwise I would consider a downtown condo or house in St. Petersburg, Sarasota, Tampa, or anywhere along the lower SE coast.  Miami to Palm Beach is a mass of humanity but high paced and trendy.  If you are looking for a medium sized town I might consider Jupiter Beach, Winter Garden, or Stuart.  Generally the progressive parts of the state are along the coasts south of I-4.  The conservative parts of the state are in the interior, and more so as you head north, except Orlando is the most "metro" of all of Florida's cities.  Miami is the biggest city.  Tampa/St. Petersburg/Clearwater/Bradenton/Sarasota is the 2nd largest city.  Orlando is 3rd.  Jax is 4th.  I like the look and topography (rolling hills) of Clermont, Winter Garden, Mt. Dora, and Tavares --but these are smaller towns.  Tech industry jobs are mostly in the bigger cities.  The winter weather is much better south of I-4.  It is actually quite cold sometimes in the upper 1/2 of the state.  Most people are disappointed in the panhandle....it is called "LA" which stands for "Lower Alabama" and the beaches there are among the prettiest in Florida, but it is known as the "Redneck Riviera" for good reason.   St Augustine is trendy and quirky, but a small town and chilly in winter.  Summers are long and BRUTAL anywhere in Florida, but it lasts longer the further down the peninsula you choose to live.
    All considered, many people from the rest of the country feel most adapted and familiar with the culture of Tampa.  Or Jax if you are a Southern Baptist. 
     NOTE:  even though Jax is listed as the largest city in the state, the suburbs are within the city limits, and it is actually a MUCH smaller city than the others. 
    What Florida will do is make you rich if you are a Mustachian saver and will drench you in sunshine.  Eternal Summer doesn't suck.

    Good Luck wherever you choose.

Excellent info Landslave.

I am moving to a condo in downtown St. Pete, and  am really glad to see your info.

[Matumba]

What state is it,  paddlehat?

What state is what?  Pennsylvania, where we live 6-7 months a year, or North of Tampa, where we spend the other five months. Sorry, but I'm not sure what you are asking?

Yes ,  that was my question,  thanks

[Landslave]

That's an ugly high HOA, and with it being restricted, the sale potential if you need to sell is much more difficult.

Almost all of those benefits (no state income tax, good weather, etc.) apply to the general location, not that specific one. FL may be a good place to look for housing, but those condos specifically?  Eh.  Not for me.

I understand it isn't for everyone.  I do question your assessment of the HOA fee, though.  That fee includes cold and hot water, gas heat in winter, cooking gas, outside maintenance,building insurance, sewer, trash, and community amenities--for $225 per month.

[arebelspy]

Yes, I understood that.

HOA costs only go up over time, and it's beyond your control.  Locking myself into a high HOA isn't something I'm a fan of, personally.

Like I said though, basically all of the benefits you mentioned were for FL itself, so why not look for other housing in the area that isn't restricted, for easier sale if you do sell?  I don't see the advantage to those specific condos.

[alsoknownasDean]

Yeah, why is it only $30,000? There's got to be a catch.

I'm sure it's fine for some people though.

[FLBiker]

Add up the HOA fee, plus the opportunity cost of the purchase, and the monthly is more than it cost me to spend the winter at a really sharp RV resort, an hour or two north of there.

I live in Tampa, and I've got a few retired friends that do this.  Seems like the way to go for affordable coastal living.

[Landslave]

Yeah, why is it only $30,000? There's got to be a catch.

I'm sure it's fine for some people though.

The catch is that there is a current over-supply of 55+ owner-occupy only housing in the Tampa Bay metro.  The result is that these condos have not appreciated in value after the downturn in the market.  Well, actually, they have---from $16-22K to $25-35K.  There is no other catch. 

The HOA may go up, but the constituent components of the HOA would cost the individual recipient of those services just as much, or more.  AND, this HOA may include reserves for the roof, paving, etc. (I don't know if they do or don't).

And, I also think to myself, the cost at $30K buy-in and ongoing carrying cost of < ~$4400 makes these great opportunities which are competitive with much more expensive housing.  The opportunity cost of $150K home is MORE than the total carrying cost of these condos. 

As I said, not for everyone, and lack of future appreciation in the current market for 55+ owner occupied housing is weak, and may stay weak (but so in owning an RV or boat!).  Aside from those limitations, these condos still remain a solid deal and ultra cheap way to live for the right person or couple who may not want to get involved in RV lifestyle and still have a tax haven and winter haven to go to.

[Landslave]

Place for 30 year olds:  If you are politically conservative and religious, I would select Jax.  Otherwise I would consider a downtown condo or house in St. Petersburg, Sarasota, Tampa, or anywhere along the lower SE coast.  Miami to Palm Beach is a mass of humanity but high paced and trendy.  If you are looking for a medium sized town I might consider Jupiter Beach, Winter Garden, or Stuart.  Generally the progressive parts of the state are along the coasts south of I-4.  The conservative parts of the state are in the interior, and more so as you head north, except Orlando is the most "metro" of all of Florida's cities.  Miami is the biggest city.  Tampa/St. Petersburg/Clearwater/Bradenton/Sarasota is the 2nd largest city.  Orlando is 3rd.  Jax is 4th.  I like the look and topography (rolling hills) of Clermont, Winter Garden, Mt. Dora, and Tavares --but these are smaller towns.  Tech industry jobs are mostly in the bigger cities.  The winter weather is much better south of I-4.  It is actually quite cold sometimes in the upper 1/2 of the state.  Most people are disappointed in the panhandle....it is called "LA" which stands for "Lower Alabama" and the beaches there are among the prettiest in Florida, but it is known as the "Redneck Riviera" for good reason.   St Augustine is trendy and quirky, but a small town and chilly in winter.  Summers are long and BRUTAL anywhere in Florida, but it lasts longer the further down the peninsula you choose to live.
    All considered, many people from the rest of the country feel most adapted and familiar with the culture of Tampa.  Or Jax if you are a Southern Baptist. 
     NOTE:  even though Jax is listed as the largest city in the state, the suburbs are within the city limits, and it is actually a MUCH smaller city than the others. 
    What Florida will do is make you rich if you are a Mustachian saver and will drench you in sunshine.  Eternal Summer doesn't suck.

    Good Luck wherever you choose.

Excellent info Landslave.

I am moving to a condo in downtown St. Pete, and  am really glad to see your info.

Welcome to town, Cowboyandindian.  Lots happening.  Grab a local rag and see all the culture.  You'll love it!  The monthly critical mass bike ride is a hoot and a good way to meet progressive thinkers. 

[Bearded Man]

Spokane!! That's my hometown. I'd say it's a super place to FIRE in. I'd vote it has even more glorious weather than St. Pete's (I have uncles there, too) because you get snow in the winter without negative digits, and a beautiful, mild summer with NO humidity. Also gorgeous springs and falls. Colleges for culture and cheap housing. And you miss the downsides of a slow job market being FIRE. :)

In that last statement, are you saying that the job market in Spokane is strong? That one would miss/avoid the negatives of a slow job market because it's a strong job market?

[Capt Stubble]

Spokane!! That's my hometown. I'd say it's a super place to FIRE in. I'd vote it has even more glorious weather than St. Pete's (I have uncles there, too) because you get snow in the winter without negative digits, and a beautiful, mild summer with NO humidity. Also gorgeous springs and falls. Colleges for culture and cheap housing. And you miss the downsides of a slow job market being FIRE. :)

In that last statement, are you saying that the job market in Spokane is strong? That one would miss/avoid the negatives of a slow job market because it's a strong job market?

I think he's saying the job market there is weak, but who cares?! You're FIRE!

[CowboyAndIndian]

Place for 30 year olds:  If you are politically conservative and religious, I would select Jax.  Otherwise I would consider a downtown condo or house in St. Petersburg, Sarasota, Tampa, or anywhere along the lower SE coast.  Miami to Palm Beach is a mass of humanity but high paced and trendy.  If you are looking for a medium sized town I might consider Jupiter Beach, Winter Garden, or Stuart.  Generally the progressive parts of the state are along the coasts south of I-4.  The conservative parts of the state are in the interior, and more so as you head north, except Orlando is the most "metro" of all of Florida's cities.  Miami is the biggest city.  Tampa/St. Petersburg/Clearwater/Bradenton/Sarasota is the 2nd largest city.  Orlando is 3rd.  Jax is 4th.  I like the look and topography (rolling hills) of Clermont, Winter Garden, Mt. Dora, and Tavares --but these are smaller towns.  Tech industry jobs are mostly in the bigger cities.  The winter weather is much better south of I-4.  It is actually quite cold sometimes in the upper 1/2 of the state.  Most people are disappointed in the panhandle....it is called "LA" which stands for "Lower Alabama" and the beaches there are among the prettiest in Florida, but it is known as the "Redneck Riviera" for good reason.   St Augustine is trendy and quirky, but a small town and chilly in winter.  Summers are long and BRUTAL anywhere in Florida, but it lasts longer the further down the peninsula you choose to live.
    All considered, many people from the rest of the country feel most adapted and familiar with the culture of Tampa.  Or Jax if you are a Southern Baptist. 
     NOTE:  even though Jax is listed as the largest city in the state, the suburbs are within the city limits, and it is actually a MUCH smaller city than the others. 
    What Florida will do is make you rich if you are a Mustachian saver and will drench you in sunshine.  Eternal Summer doesn't suck.

    Good Luck wherever you choose.

Excellent info Landslave.

I am moving to a condo in downtown St. Pete, and  am really glad to see your info.

Welcome to town, Cowboyandindian.  Lots happening.  Grab a local rag and see all the culture.  You'll love it!  The monthly critical mass bike ride is a hoot and a good way to meet progressive thinkers.

Thanks Landslave, will keep the mass bike ride in mind. Unfortunately, I will move in a year and a  half and not today (especially since it is cold here in NJ this morning).