Potential Retirement Relocation - Tampa, Clearwater Florida area

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LiveSimple
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Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by LiveSimple »

Potential Retirement Relocation - Tampa, Clearwater Florida area

We are in the discussion an research phase for a relocation trendiness towards a retirement / semi retirement.

This time, we do need the analysis around the Tampa, Clearwater Florida area.

We do have friends there and talk great about the area.

So if you are familiar of this area, what would you prefer to share here.

Should we think about flood insurance, should we think about hurricanes ? what else we do need to analyze / research.
drummerboy
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by drummerboy »

I lived in Tampa for 20 years. It's a nice area.

YES, you should consider Flood Insurance. Some locations it is either expensive or doesn't cover much of what you need. Do your homework.
Hurricanes are a very real thing. Expect one a year that is too close for comfort. Tampa hasn't been hit by a direct storm for 100 years, but that doesn't mean it won't come due at some point. Do you want to live in a Level 1 evacuation zone? Something to consider when looking at sites around the area.

You should also consider seasonal traffic. Some locations are great in the summer/fall, but are crowded and a traffic nightmare during Jan-May.

Good Luck!

P.S. If you really want to get freaked out by hurricanes, read this article about a simulation they update all the time: https://www.tampabay.com/hurricane/2020 ... -scenario/
Last edited by drummerboy on Wed Sep 16, 2020 7:43 am, edited 1 time in total.
PoppyA
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by PoppyA »

Congestion.
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FrugalInvestor
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by FrugalInvestor »

We've spent some time in that area and the combination of oppressive summer heat and especially humidity and concerns about hurricanes from both a personal safety and risk of damage to primary residence was a dealbreaker for us. But the weight put on various downsides and upsides is different for everyone. Even if the hurricanes don't hit directly you'll need to have and exercise an evacuation plan every so often, so have somewhere to go and go there when the warnings are issued.

Best of luck on your relocation. I hope you find a place that you love and enjoy. The Tampa/Clearwater/Sarasota/Venice areas are very enjoyable.
Have a plan, stay the course and simplify, but most importantly....Ignore the Noise!
UpperNwGuy
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by UpperNwGuy »

I used to travel there on business trips. Great place to visit, but I would not want to live there. I hate heat and humidity. On my very first business trip there, I was watching TV in my hotel room, and I gradually realized that every third commercial was for anti-mildew products and services. I knew immediately that this was not my kind of place.
tnr
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by tnr »

We have lived on the north side of Tampa for the past 8 years. Moved here from Indiana for job reasons. We like it although for retirement we would prefer St. Pete downtown area. If you want easy access to the beach, Clearwater is great. Clearwater has a small airport and Tampa International is easy drive from Clearwater.

Summers are very hot/humid. We don’t have flood insurance although that is something to consider. All of Florida is at risk for hurricanes - I’m not sure Clearwater is at higher risk than other areas near the ocean.

Florida is different, for sure. I’d suggest short visits at various times of the year to see how you like it.
willyd123
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by willyd123 »

We live in the area. You only need flood insurance if you live in a flood zone which is published information. By the way, flood insurance is very inexpensive (~$500/yr). Auto insurance is very expensive (maybe double US averages). Homeowner's insurance is very expensive IF you live on or very near the water otherwise it's not that much more than US averages.

As other have said, it is oppressive in the summers, however, for the other 8 months (give or take) the weather is very nice. Our winters are glorious. The way we look at it is that almost no matter where you live, you will have 3-5 months or bad weather so pick your poison. One option is to live here for 8-9 months of the year and spend the rest in a cooler climate which many people do.

So I really like this area except for one thing...the culture. We don't find it a particularly friendly area (we moved from Atlanta which we found incredibly friendly). There certainly are friendly people here but you have to look for them.

By the way, I agree that downtown St Pete is a great area that is booming.
Humility101
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by Humility101 »

Current resident here for a few years. This really depends on what you want in terms of big city lifestyle, beach, or more solitude. There are nice communities outside the city (Dunedin, Palm Harbor, Safety Harbor, Oldsmar) in which you can avoid really bad traffic but still make it to the beach in under an hour. Flood insurance is a must for the locations near the ocean. Also south of the Tampa area (Sarasota, Venice, Nokomis) all really nice for retirees.
There are plenty of decent sized airports nearby regardless of which you choose. Also, plenty of gated communities if thats your preference.

I recommend a visit to explore the areas above, as well as the actual beach towns on the water (Clearwater, Treasure Island, Madeira) if they fall in your price range.

Good Luck!

Humility101
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LiveSimple
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by LiveSimple »

Humility101 wrote: Wed Sep 16, 2020 7:02 am Flood insurance is a must for the locations near the ocean.
Humility101
Please can you explain, whether we do need to purchase the flood insurance or I read somewhere there is no flood insurance, so we are on our own if there is a flood ? Researching this topic.

Looking for a laid back lifestyle, no busy busy. Hopefully no need to work or work from home part-time . No daily commute to office will be in the picture I assume.
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LiveSimple
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by LiveSimple »

Other friends suggest north of Orlando such as Lake Mary as well...
drummerboy
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by drummerboy »

LiveSimple wrote: Wed Sep 16, 2020 7:32 am Other friends suggest north of Orlando such as Lake Mary as well...
Florida is a big state. What do you like to do? What are you wanting to fill your days with during your (early) retirement?

That will dictate where you should look. Lake Mary compared to St. Petersburg compared to Delray Beach are all very different experiences. As some one else mentioned, what about culture? Other activities?

If all you want is a house, there are plenty of inexpensive places around Florida, but other factors will dictate location. Warm winters and no state income taxes are minor advantages. Plenty of states can offer that.

What's your vision of how you will spend your days during retirement?
drummerboy
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by drummerboy »

LiveSimple wrote: Wed Sep 16, 2020 7:29 am
Humility101 wrote: Wed Sep 16, 2020 7:02 am Flood insurance is a must for the locations near the ocean.
Humility101
Please can you explain, whether we do need to purchase the flood insurance or I read somewhere there is no flood insurance, so we are on our own if there is a flood ? Researching this topic.
Here's some helpful information regarding flood insurance:
https://olympusinsurance.com/5-things-f ... insurance/

A key point:
What Does Flood Insurance Cover?

The standard NFIP policy provides replacement cost coverage capped at $250,000 for damage to the structure of the home and actual cash value coverage capped at $100,000 for loss of personal possessions.  Flood insurance does not cover water related damage from other causes (such as leakage / seepage claims), or damage caused by wind driven rain.
I know of plenty of houses that are right on the water in Florida that are worth a ton more than that. One of our friends had huge issues with wind driven rain getting under the roof and flooding the interior of the house. Living near the water in Florida has some risk. It can be amazing, but make sure you understand that risk.
smitcat
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by smitcat »

LiveSimple wrote: Tue Sep 15, 2020 7:34 pm Potential Retirement Relocation - Tampa, Clearwater Florida area

We are in the discussion an research phase for a relocation trendiness towards a retirement / semi retirement.

This time, we do need the analysis around the Tampa, Clearwater Florida area.

We do have friends there and talk great about the area.

So if you are familiar of this area, what would you prefer to share here.

Should we think about flood insurance, should we think about hurricanes ? what else we do need to analyze / research.
Florida is a big state and research will teach you that various areas are different in many ways.
These are some of the items we researched before we committed to Florida, data for these are all available online:
- Hurricane maps for both total and major storms
https://www.noaa.gov/stories/what-are-c ... it-my-home
- flood potential
https://www.nhc.noaa.gov/nationalsurge/
- flood areas by address (propertyshark)
https://www.propertyshark.com/mason/fl/ ... zard-Areas
- Red tides
https://myfwc.com/research/redtide/statewide/
https://www.usatoday.com/story/news/nat ... 177117002/
- Sink holes
https://sinkholemaps.com/resources/esse ... /#checkmap
- healthcare
- crime rate (varies greatly by area)
- car insurance (varies 2:1 by zip)
- home insurance rate (varies greatly by home contsruction mitigation level)
- Real estate taxes (you will be assessed as a new owner, you may get discounts for a couple of reasons)
And a few things I am not remembering right now.
smitcat
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Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Post by smitcat »

drummerboy wrote: Wed Sep 16, 2020 7:43 am
LiveSimple wrote: Wed Sep 16, 2020 7:29 am
Humility101 wrote: Wed Sep 16, 2020 7:02 am Flood insurance is a must for the locations near the ocean.
Humility101
Please can you explain, whether we do need to purchase the flood insurance or I read somewhere there is no flood insurance, so we are on our own if there is a flood ? Researching this topic.
Here's some helpful information regarding flood insurance:
https://olympusinsurance.com/5-things-f ... insurance/

A key point:
What Does Flood Insurance Cover?

The standard NFIP policy provides replacement cost coverage capped at $250,000 for damage to the structure of the home and actual cash value coverage capped at $100,000 for loss of personal possessions.  Flood insurance does not cover water related damage from other causes (such as leakage / seepage claims), or damage caused by wind driven rain.
I know of plenty of houses that are right on the water in Florida that are worth a ton more than that. One of our friends had huge issues with wind driven rain getting under the roof and flooding the interior of the house. Living near the water in Florida has some risk. It can be amazing, but make sure you understand that risk.
"One of our friends had huge issues with wind driven rain getting under the roof and flooding the interior of the house."
We had that with our home and business in NY during Sandy.
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