Looking for a great area to live after making the worst mistake of my life - selling my home of 28 years and bought new (Miami: power lines, insurance)
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Even though I loved my paid-off house in an upscale community in the suburbs of Central Florida, I wanted to sell it for years because I had a pool that I never used and a big yard that was a lot of work. They both regularly stressed me out. I searched for years for new construction communities in a small beach town in Southwest Florida because it was close enough but far enough from where I grew up. Because I’m single in my early 60’s with no kids, I thought it would be nice to be closer to some of my childhood friends so I can see them occasionally, and hopefully meet new friends in this area. Neither have come to fruition.
After searching this town and other areas of Florida for years without success to try and find a new construction community without a ridiculous amount of amenities (multiple community pools, sports courts, playgrounds, etc.), I finally decided to sell my house in 2020 and move to this location before finding my next home. I thought it would be easier to find something if I was here, and I figured that I’d rent for probably six to nine months maximum and then I’d be living in my new home. In the past, they always said to rent before you buy. Unfortunately, this has been a total disaster for me, and the timing couldn’t have been worse! I closed on my home in Q4 of 2020, and for the first six weeks after arriving here, I was frantically trying to find a rental. It was a very stressful situation because rentals in general were few and far between since it’s considered “in season” that time of year.
My original plan was that I’d trade in my home with a beautiful pool/waterfall/spa and large, private yard for a new construction single-family home that's no more than 1800 square feet with all the new code regulations and modern updates for not that much more money (I anticipated spending a maximum of around $400,000). In Q1 of 2021, I was finally able to start looking around to determine where I wanted to purchase my new home. However, that’s when the housing market started to go completely insane – prices were skyrocketing and continued to increase dramatically until recently! It’s been overwhelming. I was able to find only one new home community in this area that I liked. The builder was constantly increasing the prices but not releasing the lots for purchase. The base price of the model that I wanted has increased 77.85% since I arrived in this town two years ago, and this doesn’t include the lot or upgraded options, which have gone through the roof, too. I decided many months ago that it's not worth it, and I was put off by the speed of the price rise. While I can afford to pay more, I'd obviously prefer to spend these additional retirement savings on fun, travel and other discretionary things and not housing.
Sadly, my property taxes will now be significantly higher because of how much the values have increased since I sold my house. Property taxes in Florida are also based on when you purchase the home, and there’s a cap of 3% every year. My taxes were low compared to most of my previous neighbors because I bought my house in the early 1990’s. I can port my approximately $90,000 Save Our Homes credit, but I have to be living in my new home by 12/31/22 in order to do so. This deadline is rapidly approaching, and I’ll lose my 28 years of credit if that doesn’t happen, which will be yet another tragedy of selling my house, but I don't want to make an otherwise suboptimal decision to win at taxes either.
Yet another costly mistake is that I didn’t move the majority of my stuff. I basically have very little left of my life, and I had expensive furniture and things. What I didn’t know at that time is that inflation would start to soar, and I’ll have to repurchase everything at a much higher cost, so my expenses will be drastically higher than they would have been. I purchased a lot of my high-end furniture and things early on when I bought my house, but everything still looked brand new because I keep care of things.
To make matters much worse, I found out in a short period of time that I hate this area for a very, very, very long list of reasons. In fact, there’s nothing that I like about it, and it’s not at all what I expected. I’m miserable living here so not finding a place I wanted to buy has really been at least in part a blessing in disguise since that makes it easier to move. I now have to figure out where I belong and where to go, which is the million dollar question.
Renting has been beyond challenging, and I’ve been forced to rent for much longer than I ever could have anticipated. I’ve always had an exceptionally strong aversion to renting. I only rented for a short time when I first started living on my own because I was determined way back then that I was going to be a homeowner. Renting for me has been like torture.
I plan to leave this area no later than the middle of December when the current lease ends, but it’s been extremely frustrating and difficult trying to find what area of Florida that I want to purchase my new home. I always compare every single thing to the gorgeous and highly-sought after community and area that I lived in, and everything else looks run-down and dingy to me. The only thing that I really didn't like about the city/town where my house was located is that there's a regional airport less than ten miles from my house and it became a lot more active over the years. I don't care about being really close to the coast/beach (like here) and actually prefer being more inland like I was before. What matters the most to me is living in a Florida town/city that has beautiful, maintained and upscale surroundings and isn't old and dumpy looking like here (I'd sure like to know where taxpayer dollars go in this town!). Being around health-conscious people like me is essential, and I certainly don't want to be exposed to second-hand smoke everywhere I go like I am here! The average age in this town is 69 years old (at least!) compared to 45 where I used to live, and I definitely want my new city/town to have a healthy mix of ages! I need to be surrounded by working and retired professionals again, and I really miss having a lot of options as to stores, restaurants, doctors, etc., and having them conveniently located. I for sure need to be in an area where I feel safe like I had grown accustomed to for the 28 years that I lived in my prior town.
While recently the market has been calming down due to rising mortgage rates, inventory is still at historic lows and prices still unbelievably high. I'm now consistently hearing economists say things like:
1. The housing market is going through a massive reset and a housing recession that will get worse.
2. Home values have begun to reverse.
3. There's more weakness ahead.
4. We'll see depreciation in housing assets as mortgage rates soar.
I've been waiting for price reductions, but the high degree of uncertainty in these crazy times is nerve-racking. I’m concerned that prices will decrease substantially after I buy, putting me in an even worse position, or that I’ll buy in an area or a house that I really don’t love because I want so badly to find my new home.
I normally make wise financial decisions, but moving has been nothing less than an enormous blunder and life shattering in numerous ways. My world has been turned upside down. It’s been very hard to move on with my life because I’m afraid of making another colossal mistake, but I need to do something ASAP to get my life back under control and that means moving to an area that is more of a fit and will make me happy.
I’m still surprised just how much this has affected me, especially since I wanted to move for many years. I loved my home and the location/area where I lived, but I’m worried it will be too hard for me to go back to that area because it might cause me even more heartache considering I gave up almost everything or things were taken from me. I’m essentially starting over at the wrong time of my life. I’m a prime example that life isn’t always greener on the other side.
I need to find my new home (preferably new or at least newer construction) sooner rather than later. I hope someday I’ll look back and be happy that I made the decision to move, but at this point I only feel incredible remorse and regret. The entire situation has been devastating because I worked hard my entire adult life in order to retire happy at a younger age so that I could enjoy life, but I had to go screw it all up. Even though I'm still in a good financial position thanks to my work ethic and always being fiscally responsible, it's still very painful and difficult to not think that I made a dreadful mistake.
If anyone lives in or knows of an area in Florida that I might love, I'd appreciate you letting me know. Thank you.
I wish I had an answer for you. I know its a terrible situation to find yourself in. All of us have made serious mistakes in our life, and like your trying to do it. It is best to correct the situation as best as you can. Where there is difficulty is as we get in our older years, its not as easy to correct mistakes as when we were younger. I honestly can't think of any area in Florida to recommend for you. I know there is nonstop new construction homes going up where I am in SW Ocala. Seems as if many of the new residents are coming from areas south of Ocala, that are fed up with the cost and overcrowding of those Florida areas. It's getting seriously overbuilt and crowded here. So I'm not sure if this region would appeal to your needs.
I find Florida in general lacking in Health Conscious people, and living in Retirement communities I find very few that are. So I can sympathize with you there.
Do you think that perhaps you have exhausted living in Florida now. You most likely have seen massive changes in your time here, and now you can't find a location that is appealing. I personally think the state is very difficult, and not dealing with its over development at all. That impacts us so much in trying to find an appealing, and affordable location to live and make our life. It's something to think about as you try to make a decision. Could you or would you ever consider leaving Florida, if it seems hopeless to find an area that meets your needs in Florida?
Thanks so much for your feedback. The house that I sold was in a gated community in Lake Mary in Seminole County. I unfortunately moved to Venice in Sarasota County. They're literally like night and day.
I'm glad that you at least don't hate Miami like I do here. It's interesting that you lived in Brevard because I just went there a couple of weeks ago to check out Viera that someone told me about. Do you know anything about Viera, and did you like living in Brevard? Viera is a newer area, which I like, but maybe it wasn't growing when you lived over there.
Before I sold my condo on the river in Cocoa, I lived in Viera. I bought a new build single family home but I sold it because I was travelling weekly for work and it was just too much to care for being away so often. I loved Viera but some friends think it was too cookie cutter. If I had the chance, I could easily move back to Brevard and be happy there. Good luck with what you decide to do.
Before I sold my condo on the river in Cocoa, I lived in Viera. I bought a new build single family home but I sold it because I was travelling weekly for work and it was just too much to care for being away so often. I loved Viera but some friends think it was too cookie cutter. If I had the chance, I could easily move back to Brevard and be happy there. Good luck with what you decide to do.
Hi SanyBelle, what is your opinion on Mims? Thanks!
There are areas just north of FL that don't have much winter and milder, shorter summers as well as nice amenities not extravagantly priced. I'm a FL native also (the first 28 years in South Florida) and moved to DC for 10 years, lived in NC for 7 years and another 10 years in Philly. Unless you're reptilian I find most transplants adjust fine unless heading for more hardcore winter climates (think Chicago, Minneapolis, Boston). You might check out a place like Hilton Head Island/Bluffton SC (just northeast of Savannah) where there are some beautiful new/newer home communities and very friendly folks who make assimilating into local activities fairly easy. You're close to all of Savannah's amenities which are pretty extensive and includes Mercer University Medical Center for quality heathcare options.
Ever since the gator killed that woman in Sun City Hilton Head a few months back, some residents are afraid to walk around the grounds, someone i know who lives there wants to move back to NJ after the attack. It was pointed out in an emergency situation a person would have to be air-lifted to a trauma center since there isn't one close by.
LF Journey, can you elaborate on what you don’t like about Venice and what you did like about Lake Mary? They are both on my short list of retirement relocation places along with; Northern Pinellas County, Northern St John’s County and Viera. You said they both couldn’t be more different and I’m curious in what ways. What I’m looking for is a safe upscale town with amenities not far from a bigger city for major airport access but not too close to be in a rat race, traffic and crowds but not too far as too be rural and in the country.
Hi SanyBelle, thank you for repping me and no, I do not live in Mims (answer to your question in rep window). Interested in living there and had seen your post about living in the area in the past. Have A Great Day!
LF Journey, can you elaborate on what you don’t like about Venice and what you did like about Lake Mary? They are both on my short list of retirement relocation places along with; Northern Pinellas County, Northern St John’s County and Viera. You said they both couldn’t be more different and I’m curious in what ways. What I’m looking for is a safe upscale town with amenities not far from a bigger city for major airport access but not too close to be in a rat race, traffic and crowds but not too far as too be rural and in the country.
Perhaps I can chime in as a long-time resident of Sanford-Lake Mary and as someone very familiar with Northern Pinellas County, Viera and Northern St John's County. All four offer locations that are pretty much all safe and upscale. There's also no shortage of amenities nearby although Viera suffers a bit in terms of access to nearby quality medical care and quantity of better grocery/dining options if that's important to you. Sanford-Lake Mary (mentioned together because where they border are indistinguishable from one another) are NE suburbs of Orlando, but more stand alone with their own employment centers in town or nearby. Sanford has an international airport serviced by Allegiant Airlines with nonstop flights to a lot of cities in the eastern half of the country at discounted fares. Of the four options Northern Pinellas County will provide the most traffic congestion, though perhaps not as bad as what you're used to. US19 and McMullen Booth Road are the two north-south thoroughfares on the peninsula. US19 is a limited access mostly elevated freeway that's heavily travelled and a parking lot during rush hours. McMullen Booth Rd is often more favorable and recommend living east of it to avoid US19 if at all possible. Safety Harbor, Oldsmar and East Lake will provide that plus would also include Countryside in NE Clearwater which has access in/out minus US19. Northern St John's County is going to be your least populated, trafficked location but still convenient enough to amenities in Jacksonville's south side and the best potential for maintaining a quieter existence. Nocatee is a planned community which should hold up nicely in terms of not over developing as well as the area around World Golf Village in NW St Augustine. I'm not familiar with Venice but do know it's a nice upscale town however not terribly age diverse, with an average age of around 67.
Sadly, my property taxes will now be significantly higher because of how much the values have increased since I sold my house. Property taxes in Florida are also based on when you purchase the home, and there’s a cap of 3% every year. My taxes were low compared to most of my previous neighbors because I bought my house in the early 1990’s. I can port my approximately $90,000 Save Our Homes credit, but I have to be living in my new home by 12/31/22 in order to do so. This deadline is rapidly approaching, and I’ll lose my 28 years of credit if that doesn’t happen, which will be yet another tragedy of selling my house, but I don't want to make an otherwise suboptimal decision to win at taxes either.
You should be good
'Portability' in Florida refers to the ability of a property owner to transfer some or all of the 'Save Our Homes' benefit on a previous homestead to a newly established homestead. A homeowner must have a Homestead Exemption in place on their current residence to qualify for Portability.
To transfer the SOH benefit, you must establish a
homestead exemption for the new home within three
years of January 1 of the year you abandoned the old
homestead (not three years after the sale).
When a very close friend lived on the southside of JAX, she tried to talk me into Nocotee. I actually really considered it because it would have been great to live near her and her husband. My concern then and now is that it's minutes from the beach, which doesn't appeal to me in the least as I stated in my original post. Thanks for the suggestion, though.
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