Polybutylane Pipes in Boca Developments (Boca Raton, Sweetwater: renters, insurance, condo)

[nikkinic1969]

We are looking to buy a smaller place for my in laws and on top of how high the taxes shoot up for out of state buyers(investors), we've also now discovered that these BP pipes make your insurance prohibitative, maybe even uninsurable. We've fallen out of escrow at Hunting Point and now looking back in the Sweetwater division in Boca Raton. Does anyone know who the developer was of these homes in Boca Chase? In
CA, we have seller disclosures. In Florida, it's the wild wild west. Help????

[City Guy997S]

Originally Posted by nikkinic1969

We are looking to buy a smaller place for my in laws and on top of how high the taxes shoot up for out of state buyers(investors), we've also now discovered that these BP pipes make your insurance prohibitative, maybe even uninsurable. We've fallen out of escrow at Hunting Point and now looking back in the Sweetwater division in Boca Raton. Does anyone know who the developer was of these homes in Boca Chase? In
CA, we have seller disclosures. In Florida, it's the wild wild west. Help????

Why buy? Why not just rent them a place?

You are looking at lower priced properties in West Boca which is the lesser desirable Boca Raton/ aka unincorporated Palm Beach County.

Do an analysis based on their ages:

Do you expect to rent for 5 years/10/15?

If you are buying at the top of the market (today) where would you expect prices to be in 5/10/15 yrs? If you finance, what is the monthly expense at that price (taxes/insurance/mtg/HOA). If cash buyer, then what is the opportunity cost of dumping that money into an inflated value condo in 2024. 400K in a CD gets 4.5% or so? Income is 18K a yr, so that's $1500 a month (you could technically apply to rent).

As far as the pipes, a lot of builders used them. It was cheaper than copper and it was approved for construction. You can replumb the property if they become a problem but you would rather have the previous owner do it/pay for it.

[nikkinic1969]

Thanks for your reply. They are 85 & 78 and are moving from a home they've lived in for over 30 years (3500 sq feet). They are fearful of being renters to people who might decide to sell their property. There are also things they refuse to downsize on (concert grand Piano) so it can't be an average size apt. We have 1031 we're trying to use to do it and hope that eventually, we are able to rent it for market after the in-laws aren't in it anymore. Seller disclosure that yes BP pipes so we're moving on from Florida and will probably just try to help them find a stable rental.

[City Guy997S]

Originally Posted by nikkinic1969

Thanks for your reply. They are 85 & 78 and are moving from a home they've lived in for over 30 years (3500 sq feet). They are fearful of being renters to people who might decide to sell their property. There are also things they refuse to downsize on (concert grand Piano) so it can't be an average size apt. We have 1031 we're trying to use to do it and hope that eventually, we are able to rent it for market after the in-laws aren't in it anymore. Seller disclosure that yes BP pipes so we're moving on from Florida and will probably just try to help them find a stable rental.

Look into assisted living........you don't have any "resale" but it might be nicer than a straight up rental

[wrat]

Polybutylane was widely used in FL , phased out in the mid '90,s when chinese drywall started pick your poison

[City Guy997S]

Originally Posted by wrat

Polybutylane was widely used in FL , phased out in the mid '90,s when chinese drywall started pick your poison

Chinese drywall showed up in the mid 2000's when the building boom hit again. Most of that has been replaced by now unlike the pipes that are still around.

I saw a house listed recently that indicated the plumbing was being re-piped (2/2) so not too bad.

[Thundarr457]

Our house had the Polybutylane but it was repiped before we bought it. Its not a huge deal, they just run new pipes in the attic. Someone forgot to seal one of the pipes and it rotted out a vanity which we had repaired plus it had mold. I poured industrial strength Hydrogen Peroxide on it that I had to get from a special place and then multiple applications of bleach that would kill anything.