Canal Access Home? Do you still have a trailer? Or store boat at your home?

[Dean P]

We moved up our start date for coming down and looking for property from next spring to this September. My fiancé sold her house with a closing date of 8/1 and I have two people that may be interested in mine. I usually don't ask people how much they pay for things but I'm curious what home owners/flood insurance and property taxes cost on a canal home in the Punta Gorda area. I'm sure it will be less then the $7,200 I pay for property on my house here in Ct..

A lot of this is public knowledge. Google is your friend. You can also try Zillow, Realtor and Trulia. Lots of info there. Good luck.

 

[Brad_Ct]

I have been looking at places on Zillow for months now and yes information is usually on there concerning taxes. Insurance is my main concern, I was told that there are only a few companies that even offer insurance on waterfront properties.

 

[Dean P]

I have been looking at places on Zillow for months now and yes information is usually on there concerning taxes. Insurance is my main concern, I was told that there are only a few companies that even offer insurance on waterfront properties.

I would suspect Punta Gorda area would be cheaper but I pay close to 7 for taxes, home owners and flood insurance. Taxes is what really hurts as it's about 2/3 the of the cost mentioned. Not cheap but worth it. We really like the area we're in. Good luck!

 

[Brad_Ct]

Thanks, I appreciate the information

 

[PortTobacco II]

I would suspect Punta Gorda area would be cheaper but I pay close to 7 for taxes, home owners and flood insurance. Taxes is what really hurts as it's about 2/3 the of the cost mentioned. Not cheap but worth it. We really like the area we're in. Good luck!

Oh actually that does not sound as bad as I was thinking. Here in Maryland, I pay around $9K for prop/school taxes, about $2800 for HO ins, and about $650 for flood insurnace. A friend told me that her friend pays like $14,000 JUST insurance that SW Florida (where exactly I do not know). And my friend said her friend's house was not some spectacular house (like under $500k market value). I initially told my friend she must be confused because, $14k sounds way too expensive.

 

[Dean P]

Oh actually that does not sound as bad as I was thinking. Here in Maryland, I pay around $9K for prop/school taxes, about $2800 for HO ins, and about $650 for flood insurnace. A friend told me that her friend pays like $14,000 JUST insurance that SW Florida (where exactly I do not know). And my friend said her friend's house was not some spectacular house (like under $500k market value). I initially told my friend she must be confused because, $14k sounds way too expensive.

That doesn't sound right. A house under 500k with that much HOI??? Sometimes numbers get inflated or confused. Maybe it's one of those fish stories.

 

[n1111z]

I have been looking at places on Zillow for months now and yes information is usually on there concerning taxes. Insurance is my main concern, I was told that there are only a few companies that even offer insurance on waterfront properties.

We bought on a canal in Cape Coral 3 years ago. HOI about $350 a month. Flood is subsidized by FEMA, about $850 a year for $250k coverage and another $600 a year through a private insurance company to bump it up to $500k. Unlikely your place is going to be wiped off the map, our lot alone is worth $250k. BS on few companies selling insurance, there are plenty. Prop tax is about 20% less than what we pay in Wichita. And oh yeah, no state income tax. Biggest ripoff is my boat insurance premium, $850 a year, probably because you can boat year round. I suspect some of the scare tactics are put out there just to keep people from moving here!

 

[n1111z]

Oh yeah for the OP, I ditched the trailer, keep the boat on a lift and we don't travel with it. I bought the dockside service. In the unlikely event I have to take it in for repairs, I'll rent a trailer.

 

[PortTobacco II]

That doesn't sound right. A house under 500k with that much HOI??? Sometimes numbers get inflated or confused. Maybe it's one of those fish stories.

Yeah I think my friends are just saying stuff so the me and wife won't move to Florida

 

[Britboater]

Bought also in PGI six years ago, never looked back, just keeps getting better .

I leave my boat on the lift all year, deluxe mooring cover recommended, I do have the trailer and its stored in the garage but moving to storage soon as I need the garage for a classic car. Regarding taxes, we're not homestead so the increase each year is a bitter pill to swallow but the capital gain is still in the black.

 

[PortTobacco II]

Is this an AirBNB/VRBO? If so, mind sharing the link? PITA finding rentals anywhere that are both dog and boat friendly.

Forgot to share the exact link: Villa Hibiscus-Tommy Bahama, Waterfront, Boat Lift - Villas for Rent in Punta Gorda, Florida, United States

We had great time and would recommend this rental. Owner was very good to us.

 

[Rick Rousseau]

We bought a canal house in 2015 and yes, I still have a trailer. We live on the east coast, Merritt Island (Brevard County), and primarily boat in the Banana and Indian River (intercostal). The house is not huge, 1900sf, but it’s open and lives bigger than it is. The lot isn’t huge either, but it has 10’ on the side that’s adequate for parking the trailer. We built a screened in pool last year and it’s just nice to sit outside and look at the water.

I installed a boat lift and that’s where the boat is parked. However, the trailer gets used several times a year. We usually travel with the boat at least once a year. My boatlift only has dock/decking on one side so it’s handy to put it on the trailer for cleaning/waxing/and maintenance.

As for some of your concerns, yes, slow speed time is a valid concern when buying canal property. One of the big plusses for the home we bought is the relatively close access to open water. I have about a 15 minute ride to throttle up, so it’s not bad at all.

When it comes to flood zones, well, if you live in coastal Florida, you have potential to flood regardless of what “zone” you’re in. Get flood insurance no matter if your mortgage provider mandates it or not. I’m in a flood zone, but the house is built 7’ above grade and even in 2016 when Matthew hit just off the coast (Eye was 20 miles from the house) and our street flooded, the house was high and dry. We just renewed our flood insurance and it’s about $500 a year – totally worth it for the peace of mind.

My boat is an SX190 so it’s not that heavy. I pull with a ’12 Acura MDX (5K towing capacity) and it works well. I park the SUV on the side of the house with the trailer. The garage has the cars in it.

We love our property and don’t regret buying a canal home. This is our forever home and we’ll be here until we have to move to assisted living.