Property Q&A in Clearwater>Question Details

Cindi, Home Buyer in 47203

When one purchases a condo on the water, what is hurricane insurance costs? Also taxes at Via Capri?

Asked by Cindi, 47203 Mon Mar 16, 2009

I am interested in a condo, water front preferably 2 bedroom and 2 bath.

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To answer your question first, your hazzard property insurance & any flood insurance, if required, for a condo is included in your monthly maintenance fees. The only insurance you typically have to pay over & above that is insurance on the contents, liability insurance, & insurance to repair any damage to the interior of the unit that isn't covered by your condo association.

Regarding the specific condo complex you are interested, Grand Venezia, I personally would avoid it like the plague. There are currently 51 units for sale, many of them being short sales and bank owned units. Regarding the insurance & all the other items typically covered by a condo association, in a case like this, when owners have stopped paying their maintenance fees, those shortages must be picked up by the other owners. Things like the common grounds, maintenance on the buildings, security, pool, clubhouse, etc. need to be kept up so this can become a nightmare quickly.

If I can help you with any other real estate needs, please e-mail or call me.

Jim Moran
Prudential Tropical Realty
W 727-799-2227 ext 223 C 727-278-4711
1 vote Thank Flag Link Mon Mar 16, 2009
This particular unit has a contract on it..
This is not homesteaded and it's taxes are at 4900 but obviously would reset much lowr once the market value of the sale is adjusted to a much lower price.

Remember this is a condo and has monthly fees of 464 a month which covers among other things the insurance for the exterior. You will have to have interior or content insurance and being on the first floor you may have to have flood insurance which I would have anyway.

There are a bunch in there for sale that are 2/2 and an even lower price than this.
Let me know if I can help you.
0 votes Thank Flag Link Mon Mar 16, 2009
The main policy will be paid by the association and passed through in the association fees. You may have personal wind/flood policies to cover your contents including floor coverings and cabinets. Taxes are currently about $3600. That is based on assessed value of $179,900. That will change after you buy it.

Martha Vasquez
Realty Resources
Web Reference:
0 votes Thank Flag Link Mon Mar 16, 2009
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