Florida: house in Cape Coral

MaRu · 02-01-2016, 02:42 AM

Hi guys,

I have some questions to the Florida guys.
I been offered a lot in Cape Coral for a more than very good price by a friend/customer here in Germany. I could afford the lot, but not to build something on it at the moment. However, a long time dream of my girlfriend and me (our son is not 100% convinced) is to move to Florida one day. And this might be the start for this dream.
Now I have two questions to the locals:

How´s life in general in this area, what are the pros and contras (like Porsche community

and hurricanes), any forecast how the prices will continue, prices for house building,... I now these are very subjective things, but maybe some of you have some experience. Maybe we have some Cape Coral locals here, or some Realtor or Builders...

The other thing is, we never spent our holidays in a Villa in cape Coral, -only in hotels. But before making such a big decision we would like to spent our holidays in a Villa. The only time possible is between 03/21 and 04/04. But this is a very highly asked time, so all Villas seams to be booked. There are still some available on Airbnb,... but either the booking schedule is not up to date or the houses are in a price range we cannot spent. So if anybody of you knows someone how rents houses for holiday, it would be very nice if you could send me your contact details!

I know the chances for answers is not so high, but you never know...

Many thanks, Malte

id10t · 02-01-2016, 04:21 AM

Problem with your dates is that it is during Spring Break season.

As far as 'canes, as long as you build appropriately, pay attention to the news, and prepare accordingly (water, etc.) then they are a non-issue unless it is The Big One.

I'm up in N Florida but did spend a little time in CC wtih a buddy, but we were teens and focused on running around the canal systems in a small boat...

Chocaholic · 02-01-2016, 04:25 AM

Very hot and humid for much of the year. No such thing as a road with a curve in it. But plenty of ocean. Insects the size of a 3 series. Not a fan.

nota · 02-01-2016, 05:05 AM

housing crash hit that area very very hard
home prices are very low with very slow sales
huge numbers of foreclosed homes
no industry very few jobs
the place is infested with rightwing retired yankees
the whole place was a huge land sales development in the 50-70's
ft myers beach and sanibel are nicer and where the spring break kids are NOT in cape coral

as there are lots of lots for sale in the area still undeveloped
I would not see that area as a good investment
unless you have a very long term time frame

Seahawk · 02-01-2016, 05:08 AM

My advice to anyone who spends winter vacations in Florida then dreams of retiring there remains the same: Rent first, spend an entire summer there before you commit long term.

Florida is not for me but I have friends that are long term residents in the area of the State you are looking at that wouldn't live anywhere else. Just make sure you can hack the heat and humidity. Air you can wear

rayporsche · 05:23 AM

And that is good advice from Seahawks.
If you are into boating it could be great, good fishing and you can cruise down to Marco Island which is relatively close and then some.
On a different note, as a long, long, long term investment well at the rate that we are going weatherwise we'll probably be under water eventually.

9146GUY · 02-01-2016, 05:22 AM

Nota tells it like is. We spend the winter in the Ft Myers area and wouldn't spend any time here in the most of the summer. There are better areas in SW Florida that are better investments (?).
Good luck

rayporsche · 02-01-2016, 05:27 AM

agree..

Mark Henry · 02-01-2016, 06:11 AM

I spent a lot of time just north in Clearwater, to me it's OK if you're a local with family ties or you're part of the geriatric set.
For me I can only handle 2-4 weeks till I'm bored out of my tree, it's just not home. There's no way I would want to bear the summer heat.

We've had a few family winter places in Florida. The last was a nice double wide, in a modern adult park, that we got dirt cheap from a German couple who just wanted out so they could go home.
I think we paid around 10-15 cents on the dollar and the owner left all the practically new furnishings.

Baz · Baz's Garage

I lived in Ft Myers for about 3 years and also owned a home in nearby Lehigh Acres for another 2.

Cape Coral abuts Ft Myers, so I know the area well.

This was back in the 90's and a lot has changed, I'm sure.

But while there, other than lack of good surf, I really enjoyed the area a lot.

I cannot answer with substance your questions about real estate values or a place to stay if you come, but I'm of the opinion as a long term investment, it might make sense depending on how the figures come out - that is what you pay for the lot, what your real estate taxes would be, how long before you could build, and what you could get back in rentals in between your visits or until you permanently relocate to the area. That's something you'd have to put a pencil to.

There is a German American Social Club in the area....might be worth checking into for your inquiries: German American Social Club of Cape Coral, Florida

They put on a wonderful Oktoberfest every year, BTW.

Good luck!

Baz · Baz's Garage

The German American Social Club of Cape Coral has more than 25 acres on Pine Island Road. We can host events big and small.

The club's annual Oktoberfest held on the grounds hosts more than 40,000 people in two weekends. Other festivals include:
Blues Festival 7000 people
Columbian Festival 5000 people
Seafood Festival and Car show 6000 people
Mangomania 7000 people
Irish Festival 8000 people in two days

German American Social Club of Cape Coral, Florida

icemann427 · 02-01-2016, 06:59 AM

Even though the price of the lot may be very attractive, think about how many years it will be prior to you building a home and factor in the cost of the annual real estate taxes. Without knowing that area's assessment ratio for vacant land, this cost added to your "very good price" may equal the full value of the lot by the time you get around to building if the local real estate values are stagnant.

URY914 · 02-01-2016, 07:32 AM

I'm a life long FL resident and have lived in every corner of the state including time in the SW FL area.
The summers are VERY long and hot in Cape Coral. It is somewhat remote from the rest of the state. It takes two hours to get to anywhere and there isn't much there. That being said you better visit and find out for yourself.

dmcummins · 02-01-2016, 09:09 AM

I live in Punta Gorda, which is just North of Cape Coral. Cape Coral is often listed as a top retirement area. It is hot here in the summer. I'm originaly from the St. Louis area, the difference is that it's hot longer. It never got over say 96 or so, but it seemed like its 90+ every day for 3 months. But the weather is great October to May.

Plenty of things to do, housing prices are rising where I am and lots of new construction. Cape Coral is not as popular as some other areas for some reason, but I expect that prices there are also rising. Of coarse they dropped big time during the crash, I don't think foreclosure's are a problem any more.

If the lot is on a canal with Gulf access I'd say it would be a good investment if the price is right, of coarse anything is good if the price is right.

ckelly78z · 02-01-2016, 09:24 AM

Definately rent rather than buy, I like the idea of being able to move to a different area with minimal effort (just lease month to month) and not have to worry about storms, insurance, mortgage, lining up and trusting building contactors, or being stuck in one area I didn't like.

MaRu · 02-01-2016, 11:18 AM

Wow, I was hoping to receive one or two answers. And now I am really impressed about home many of you shared their experiences and opinions!!!
Many thanks!

I agree with everything you said. I "only" have been there (fort myers area) for three weeks. Last year from the middle of June to July. It was hot but it was OK for all of us. But you are right, you cannot compare a holiday time with living there year by year.
I will fly one week earlier than wife and son, visit a friend in Melbourne, go the the 12h of Sebring and then go to Cape Coral see the lot/land in reality, talk to some locals, Realtor, builders,... and than make a decision. There are many things you guys mentioned that I don´t know so far, like property taxes,...

Salty Springs · Salty Springs's Garage

Maru,
Take a good look around Melbourne! There is a lot to like there.We prefer the ocean side to the Gulf side. Have a small place in Cocoa Beach(just north of Melbourne). Vacant building lots are usually not a good investment , so don't let that pull you to an area that might not be what you want.Yep it's hot in the summer,that's why we have pools&AC.Maybe I'll run in to you in Sebring!
Dave

ckelly78z · 02-01-2016, 02:14 PM

"Hot in the summer" is still far better than subzero temps with strong winds and blowing snow like most of the northern states get. I could certainly work with the heat if I had a pool and good a/c. Sure beats sitting around the house covered in a blanket, at least you can still get outside without being assaulted by the weather.

Baz · Baz's Garage

Quote:

Originally Posted by MaRu

Wow, I was hoping to receive one or two answers. And now I am really impressed about home many of you shared their experiences and opinions!!!
Many thanks!

I agree with everything you said. I "only" have been there (fort myers area) for three weeks. Last year from the middle of June to July. It was hot but it was OK for all of us. But you are right, you cannot compare a holiday time with living there year by year.
I will fly one week earlier than wife and son, visit a friend in Melbourne, go the the 12h of Sebring and then go to Cape Coral see the lot/land in reality, talk to some locals, Realtor, builders,... and than make a decision. There are many things you guys mentioned that I don´t know so far, like property taxes,...

Sprechen Sie Deutsch, Malte?

If so....you may especially enjoy conversation with those in the German American Social Club as mentioned in my two posts above.

To have access to this group is a very beneficial resource for you in obtaining local information! Please be aware of this!

Good luck.....and keep us posted!

targa911S · 02-02-2016, 10:10 AM

I lived in Clearwater for 25 years. Personally I loved the weather. But it is the only thing I miss about living there. Well OK the fishing is good. Too many people, insurance is high and a 100 other reasons. Also i think there are regulations that say you must build something in some time period.