We want to move down there from Ohio and were excited about the prospect of a 3-bedroom pool home for under $300,000. When we found three that fit that description, we started getting suspicious. What kind of insurance would we have to pay for a house like that on Hutchinson? I have a feeling that therein lies my answer.
Get ready to put some money aside for Homeowners Insurance, Flood Insurance and Wind Insurance if you want to live on Hutchinson Island! Estimate around $10000 per year for insurance. Then, look up the land taxes...and welcome to Florida! Hutchinson island is beautiful, but expensive, a little old and there is not much to do there other than the beach and golf. Not much for kids either...
Being on a barrier island IHutchinson Island), you will be required to have flood insurance on any home or condo that you would purchase. Homeowner's insurance tends to be higher on anything that is on the island, because of the higher risk factors.
Hutchinson Island spans both Martin and St Lucie counties---"where" on the island would have some bearing on the price---ie: is it near the power plant?
If you are looking for a 3 bedroom pool home, under $300,000, there are many other areas besides the island that you will find homes like that. If you would like, please feel free to contact me, and I'll be happy to help you find something that is to your liking.
Debbie Redditt, CRS, ePRO
Prudential Florida WCI
772-486-4306
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