South Florida Markets and Weather-Caused Hesitation:

Starting Out
3yFollow

South Florida Markets and Weather-Caused Hesitation:

Will Muno
Member since 2021 · 2 posts · 1 vote

Hi all,

I have been learning about REI for the last year+ (books, videos, etc.) and am expecting to make a move in the next year or two. I think house hacking is going to be my play. For context: I work remotely, don't have debt, and allocate about 38% of my income to saving/ investing (on an annual average basis).

Given my situation, I was thinking of deploying capital into a house hack in south Florida so I can benefit from no state income tax (working remotely) and live in a warm climate (currently in Chicago). I am not married to the Gulf or Atlantic side, just preferably not inland. My main concerns are hurricanes/ inclement weather, and the cost/ headache of repairs that come with seemingly inevitable natural disasters. Should that be a deterrent?  Has that swayed anyone's opinion about markets in south FL in the past? Should I look in other markets?

Curious to hear if anyone has experience here. My goal is to expand a portfolio in multi-family, but who knows where the REI road will take me.
I appreciate any and all help. 

Thank you!

1Reply
27 views

Most Popular Reply

Marijuana (MP) Vandyck
Investor · FL · Member since 2015 · 40 posts · 24 votes
3y

We too were concerned about that when we moved to Florida so we chose north Florida (between Jacksonville and Gainesville) in a rural area where we are on 4 acres, flood zone X, no impact fees, lower taxes, and much lower sales prices. 

When we just have to have the "south Florida" vibe, we get in the car, drive there, then come home! :-)

I am also only investing in north Florida for the same reasons.

2Reply
See this reply in the discussion

6 Replies

Jump to latestLatest
  • Marijuana (MP) Vandyck
    Investor · FL · Member since 2015 · 40 posts · 24 votes
    3y

    We too were concerned about that when we moved to Florida so we chose north Florida (between Jacksonville and Gainesville) in a rural area where we are on 4 acres, flood zone X, no impact fees, lower taxes, and much lower sales prices. 

    When we just have to have the "south Florida" vibe, we get in the car, drive there, then come home! :-)

    I am also only investing in north Florida for the same reasons.

    2Reply
  • V.G JasonPro Member
    Investor · Member since 2022 · 3k+ posts · 3k+ votes
    3y
    Quote from @Will Muno:

    Hi all,

    I have been learning about REI for the last year+ (books, videos, etc.) and am expecting to make a move in the next year or two. I think house hacking is going to be my play. For context: I work remotely, don't have debt, and allocate about 38% of my income to saving/ investing (on an annual average basis).

    Given my situation, I was thinking of deploying capital into a house hack in south Florida so I can benefit from no state income tax (working remotely) and live in a warm climate (currently in Chicago). I am not married to the Gulf or Atlantic side, just preferably not inland. My main concerns are hurricanes/ inclement weather, and the cost/ headache of repairs that come with seemingly inevitable natural disasters. Should that be a deterrent?  Has that swayed anyone's opinion about markets in south FL in the past? Should I look in other markets?

    Curious to hear if anyone has experience here. My goal is to expand a portfolio in multi-family, but who knows where the REI road will take me.
    I appreciate any and all help. 

    Thank you!


     This a common train of thought for folks looking into Florida. Central Florida may be the key to it, I think your concerns are definitely valid. I live in Miami half-time with my family, don't invest here. I love the idea of investing in WPB, and in some of the these coasts but that looming fear of my house being wiped out is something I really do not want to deal with. For that, I think more north FL may reign supreme. I am thinking people wanting to live in Florida may find that similar appear. Leaving 1-2 times a year in fear of a hurricane isn't the way to live life.

    0Reply
  • Will Muno
    OP
    Member since 2021 · 2 posts · 1 vote
    3y

    Very helpful insights - thank you both! I'm glad my intuition is warranted. Taking this into consideration, I'll likely look to other states to get the ball rolling. I know the markets in south FL have also been hot in the past couple years, so probability of building equity may be slim unless I were to do renovations, etc.

    Thanks again!

    0Reply
  • Minna Reid
    Real Estate Broker · Jacksonville FL & Middletown, CT · Member since 2008 · 1k+ posts · 633 votes
    3y

    I'm in Jacksonville. We don't really get direct hurricane hits here- something about the gulf stream. Worst I've seen in 4 years is some flooding of low lying areas, which are easy to avoid. I moved here from CT - the down south hurricane fear mongering is outrageous up north. Once I moved here I realized it is really nothing more than the similar fear mongering of the northeast snowstorms. Lot of hype - little action. 

    1Reply
  • Malgorzata SadowskaPro Member
    Real Estate Agent · Miami, FL · Member since 2017 · 506 posts · 205 votes
    3y

    If concerned with potential hurricane damage, South East Florida should be considered - we have the most stringent building code in the world (for example, Miami-Dade county impact windows are the gold standard). By the way, that's one of the reasons why our market is pricey - it's expensive to construct / update with such a strict building code.

    0Reply
  • Adrian Lemus
    Contractor · Miami, FL · Member since 2020 · 146 posts · 50 votes
    3y

    Living here in SoFlo all my life and seeing all these concerns, my advice turn off the TV!

    There are old areas in Florida where if we get hit hard enough it’ll be bad for that area but for the most part of SoFlo, we haven’t seen anything bad since Andrew and our houses have been built to withstand the hurricanes. 

    I’ve done Remodels on homes built in the early 1900s and they are SOLID!!!! Built better then what Codes require us do on New Constructions. 

    Native Floridians actually look forward to Hurricanes in my areas, it’s more of a feeling of Relaxing, hanging out, and enjoying the cool weather before, during and after. 



    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free