Home Buying in Cape Coral>Question Details

David Nihiser, Home Buyer in Crown Point, IN

We currently live in the Chicagoland area and are seriously considering a move to Ft Myers/Cape Coral this year. 2 questions. 1. Gulf Access propert

Asked by David Nihiser, Crown Point, IN Fri Feb 28, 2014

y prices vs. Non-Gulf Access property. 2. Insurance differences between the two.

Help the community by answering this question:


Hi David,

I bet you are seriously thinking of moving. My mother lives near Naperville and I have been trying to get her here for years. She said to me the other day " I think its time to seriously consider moving." Sound Familiar!

Check out my short tip on waterfront property below. Feel free to go to my website or call me directly for more info. Have a Wonderful Day!

Tip #11: Buying a home on the water

The beautiful thing about making a decision to live on Florida’s gulf coast is the number of bodies of water around that exist. Buying a home on the water in the Southwest Florida area can be one of the best investments you’ll ever make.

With Fort Myers Beach, Vanderbilt Beach, Sanibel & Captiva Islands, the Caloosahatchee River, and manmade canals and lakes all within 40 miles of the central Southwest Florida area, buying a home on the water was never so available. Certain water bodies are more desirable than others. It is important to assess pricing in comparison to location. Cape Coral, for example, has many properties listed as waterfront or gulf access, yet it can take up to an hour to get to the gulf by boat in most
cases. Wastewater runoff and leftover septic tanks from homes that have paid the water assessments are also things that make purchasing a home on a canal less than appealing.

Buying a home on the waterfront or canal in Cape Coral can run from $250,000 to $2,000,000 depending on the size of the home. Fort Myers real estate on the Caloosahatchee River can range from a few hundred thousand to a few million dollars, while beachfront property can go into the multimillions in places like Sanibel and Captiva. If a beachside mansion doesn’t quite fall into your budget, consider purchasing a beachside condominium or purchasing a home with quick and easy access to the beach.

The amazing thing about the Southwest Florida area is literally everywhere you go, you can access the water in no time at all. Inexpensive houses can be found in central locations with close access to amenities and minimal beach traffic. You’ll be laying on the beach, enjoying the Florida sun in no time.

Buying a home on the water (whether you are a first time home buyer or a seasoned property owner) can be slightly more complicated than purchasing a regular new or used home. Extra insurances must be secured for protection against floods and hurricanes. Ensure that your buyer’s representative knows the area and can educate you completely about the risks and rewards of purchasing a home on the water.

Contact us for the expertise you need in purchasing your waterfront home.

12 Tips to Buying Real Estate in Southwest Florida
Learn more by visiting http://www.AckermanSWFL.com or calling (239) 565-7867.
Copyright © 2010. AJ Ackerman & Associates. All Rights Reserved.
Web Reference: http://ackermanswfl.com
1 vote Thank Flag Link Sat Mar 1, 2014
1st Question: Gulf Access properties (homes or condos) could be via Cape Coral, Estero, Ft Myers Beach, Bonita Springs, East and North Ft Myers and Naples. You can access via the Caloosahatchee River and canal inlets. Some canals in these areas are fresh water and have no access. When you view all of these properties from my website listed below you will be able to change the criteria as you decide your budget requires. The 100 year flood zone areas will be more expensive to insure than non GA properties by a few thousand dollars in some cases. The Gulf Coast of FL is less expensive to insure than the East Coast for all types of property including vehicles and boats. Look forward to working with you to help you better understand the areas here on the SW Coast of Florida.

Sarah Garrett, Realtor
"Chosen Best in Client Satisfaction 2006-2013" by Gulfshore Life Magazine"
14090 Metropolis Avenue, Ste. 206
Fort Myers, FL 33912
Cell: 239-464-8620
Office: 239-274-6637 x 3030
Fax: 239-482-4512
Website: http://www.flrealestatebuysell.com
Web Access to MLS: http://www.swfloridahomebuyer.listingbook.com
0 votes Thank Flag Link Mon Mar 3, 2014
Prices vary greatly between homes on dry lots, freshwater canals and gulf access canals, age, size and condition of the homes as well as if the home is already connected to central water and sewer or is still on well and septic with future assessments. Insurance is based on age of home, type and age of roof, if the home has hurricane protection or not etc...also, if the home is in a designated flood zone you will need flood insurance (this is required insurance if you carry a mortgage) and can get rather expensive depending on the flood zone it is located in which is based on the homes elevation.

I have lived in Cape Coral for over 25 years and know the area extremely well and would be more than happy to answer any questions you may have. You can email me at leecountyrealtor@earthlink.net or call me at 239-707-4575 or if you would like to access our local multiple listing service and view homes online you can visit http://www.leecountyrealtor.listingbook.com
0 votes Thank Flag Link Sat Mar 1, 2014

Regardless of where you are in Florida, owning a home that has Gulf access will likely mean you are within a flood zone or high risk area. This type of property ownership has recently become a political "bomb shell" resulting in insurance rates that may increase significantly is the near future. Today's buyers of this type of property should resort to "baby steps" before making a commitment. The rate increases that have been tossed around are excessive to say the least. Buyers of waterfront property should be informed and enter this situation knowing that what exists right now could very well change......

Just keeping it real!


0 votes Thank Flag Link Sat Mar 1, 2014

Get OUT of that cold! You love it here!! Please check out my site to get a GREAT feel of the Area, and Sign up for an ACCOUNT! Love to be your REALTOR. http://www.realtorronw.com/ ...If you happen to be in the area, http://www.trulia.com/blog/RealtorRonW/2014/02/become_an_edu… .....GOOD luck and stay warm!! Ronald Wolchesky with Century 21: Birchwood International..
0 votes Thank Flag Link Sat Mar 1, 2014
Hi David,
As you can see from the previous answers, there is no easy answer to your questions. The insurance question is dependent on the whether it's in a flood zone or not and what KIND of flood zone (generally closer to open water, the higher the rate will be). Homeowners insurance/hurricane coverage is mainly driven by the age of the home, and what if any security measures have been take for hurricanes, ie shutters, reinforced roof, etc. When you choose a house to buy, the best bet is to get an insurance quote before you are committed, like during your initial inspection period. I can look up whether a house is in a flood zone or not, but there needs to be an elevation certificate to get an accurate quote on flood insurance. Often you can get an idea from the current owner what they are paying for insurance. But if it's a foreclosure, the banks don't have that information.

Gulf access vs, non-gulf access can also vary, but very generally a house on gulf access vs a comparable home not on water, could be $100k difference or more. Freshwater is a whole other variable! Well if I have confused the issue more, hope this helped. If I can be of further assistance, feel free to get in touch. Thanks!

Margie Birch
0 votes Thank Flag Link Fri Feb 28, 2014
Check out my website and search properties in the area its a true mls search. And insurance prices vary there are places on water gulf access that do not require flood insurance due to the elevation. I also have an insurance contact that can quote you on rates on any property address. Email me at kevin.deeb@floridamoves.com. If you want the best service and knowledge, you will contact me.
0 votes Thank Flag Link Fri Feb 28, 2014
I am a Native Chicagoan who relocated to SW Florida in 2005 and have not regretted it a single day! Gulf access properties are those that are located on a body of water that leads to the Gulf. This can either be canal front, bay, basin or river, etc. These properties sell at a premium vs fresh water or dry lot properties. The better the access to open water, the higher the price.

Insurance costs will be higher than a dry lot home, however if a parcel is located in a flood zone, flood insurance will be necessary if financing. This holds true for dry lot homes that are located in a flood zone and there are some waterfront properties that are not considered to be in a flood zone. Insurance costs will also be dependent upon the age of the home, age of the roof & wind protection agains storms. I work with a number of insurance companies who gladly give insurance quotes on properties that you may be considering.

Feel free to contact me directly for any additional information. I'd be happy to assist in your property search!

Christine Lussa
cell: 239-210-8256
fax: 239-244-8380
0 votes Thank Flag Link Fri Feb 28, 2014
Have the advantage of searching like a Realtor !
You'll be able to target and define your search and you'll receive freshest listing content based the criteria you've choosen.
Just sign up for a listingbook account on the front page of my site, you'll receive the most up-to-date listings sent right to your inbox!
I'm a buyers agent I work for you! The listing agent works for the seller !
No tricks, No gimmicks, No harassing phone calls.
But I'll gladly answer your questions at any time !
You tell me when you're ready !!!!
Click the link below for a free listingbook account:

Best regards ,
Susan Callahan, ABR, CNS
Coldwell Banker Residential Real Estate LLC
CELL: 239-896-6342
7205 Estero Blvd # 724 Fort Myers Beach, FL. 33931
E-Mail: Agent4lee@aol.com
0 votes Thank Flag Link Fri Feb 28, 2014
_You and Millions of others from up north after the Deep Freeze winter this year! If you can afford a Gulf Access property, Buy a Gulf Access property! The fun of being able to walk out back and get in your boat and go and the Appreciation will dwarf the Flood Ins. difference! ....Go to http://WWW.PRO-OPTION.COM and see the 4th, 5th and 6th programs down and then contact me for a quote.
0 votes Thank Flag Link Fri Feb 28, 2014
Gulf access homes typically and on average will be more expensive than a comparable freshwater home. The distance to open water will affect value also. Insurance differences will be more noticeable due to roof age, year home was built & whether it is in a flood zone or not (there are Gulf access homes not in flood zones).

If I can answer any other questions please let me know!
0 votes Thank Flag Link Fri Feb 28, 2014
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