Buying a waterfront home in the Florida keys
Things to consider when buying any waterfront vacation home.
First off, congratulations at looking to the Keys for a possible vacation home. The good news about the Keys from an investment angle are:
There is only so much waterfront or Coastal property available.
The Keys have strict environmental laws that affect building permits. This means there are only so many homes and always will be a limited number of homes here. One big reason for this is there is just ONE Highway in and out of the Keys. (US1) If there is an emergency, people need to have the ability to leave quickly and so for this reason alone, the Keys will never be California. The other main environmental consideration is the water quality. The Keys main attraction are water sports and Monroe County is going to make sure that our waters are clean and usable.
To consider when purchasing any waterfront vacation home and how the Keys measure up:
Is there a view?Views really do matter. An unobstructed Ocean view adds as much as 60% to the value of a home per the Journal of Real Estate Finance and Economics. Proximity to Golf courses or a park can add as much as 20% to a homes value. This is per an article by a much published author named Soren Anderson, a writer from Manchester College.
Consider the recreational activities…The What and the When. For example in a Ski resort area, your options are limited due to weather considerations and the total amount of activities available is definitely less.*In the Keys, about the only thing you cannot do year round are mountain climbing and white water rafting.
Boating access and controlling depth Is there direct boating access on the property? If so, how large a boat can you have behind the home? This is determined by what we in the Keys call controlling draft or depth. For example: If a boat is under 30ft in most cases 3 ft draft is OK. Draft means...what is the lowest water depth you have to go through to get to open or deep water.If you have a sailboat or 50 ft boat you will need deeper draft such as 5ft.Now ..obviously if you have a 50 ft sailboat behind your home, the canals or waterways have to provide you with turn-around room. If the access is deep draft, then expect prices to go up. If there is no water access at the home or the draft is for kayaks only, in most cases expect a drop in price. If there is no direct water access...how far is the nearest boat ramp or is there a boat slip available? If so, is it included and what is the draft out of the boat slip.So the boating issue has a very direct effect on pricing here. Neighborhoods with bigger canals and deep draft boating are generally home to the Million dollar and plus homes.

Florida keys Investment opportunities Part 2
As to The Keys and it’s areas-where would the best rentals probably be located?
*A condo or single family home anywhere on the water-either Ocean or Gulf or a canal and anywhere in the Keys (unless they prohibit vacation rentals. (see below)
*The rental rates will vary from island to island due to boating depth and neighborhoods, SEE information below,
*Key West downtown is seeing strong growth. In short some people are going away from life in the suburbs and opting for closeness to theatre, restaurants and the vitality of a city environment. So, don’t overlook the downtown areas.
Renting your home out as a seasonal (vacation rental)or long term.Long-term renters are generally easier to find as there is a shortage of homes for rent. So, if you want to buy something for retirement or a vacation home and rent it out to help your payments-this is typically the easiest way. (Long term rentals are considered to be anything over 6 months, as the tenants don't pay the 11.5% Florida tax)
Generally long-term rentals should be unfurnished.

Florida keys investment opportunities
Florida Keys Investment opportunitiesWith all the abundant recreational opportunities mixed in with a great climate the Keys attract people...lots of people.Tourists in turn need places to stay and people relocating need places to rent either part time or while they close on a home or find an apartment. The Keys are definitely a happening place.Types of Investments
Aside from commercial investments the two situations most people are looking for in Florida are
Vacation homes or Condos that can be rented out … Generally a purchase involves a 1031 tax exchange or just someone looking for a second home in an area that he/she or the family will use occasionally.
A person looking for a home to eventually retire to and rent out in the meantime to help pay the mortgage.
The best areas to rent are anywhere near the water and the best rents will start at open water locations, followed by homes/condos with a partial view to homes on canals. The neighborhood and the furnishings will also dictate the rent amounts you can get. In the Keys-the best situation was a home at least three bedrooms and up on the Ocean or Gulf with a pool and a boat dock. In some cases these bring as much as $5000.00 per week, depending on the home/area.
It is very important that you find out early on which residential areas and which condo associations allow weekly rentals-as this will be generally be your best return.
In some cases you may want to just rent out long term and skip the dealings with handy men and cleaning services.
In all of this—the most important thing is that you find a qualified adent. He/she can guide you through the process completely—including setting up property management.

Overview of the Florida Keys and investments
A quick overview of our Florida Keys I'm going to the Florida Keys! People all over the world love to say that. The Florida Keys are in fact, one of the most desirable areas in the world to visit. Because of this, our property is some of the most desirable real estate in the world. The islands here comprise a unique American landscape. Called by some, Americas Caribbean. Our islands are reminiscent of the Bahamas, Caymans or Netherlands Antilles. Imagine low lying dots on an azure sea that separates Cuba from the U.S., strung 130 miles in a long narrow corridor athwart the Gulf Stream. Bordered by one of the world’s principal coral reefs that was the scourge of pirates and the Spanish fleet nearly 500 years ago. Our waters beckon year round divers, fishermen, and boaters. For more info on the Keys click here. Also see the Google maps. Living and Investing in the Upper KeysThe Upper Keys is a great area for both recreation and Investments. The reason is simple: Miami and Miami International is just an hours drive. In Addition, the recent incredible growth in the South Miami area of Homestead (Forecasts call for 1 million people by 2010) is adding to the desire for homes in the Keys.Why is this good for Investors Ft Lauderdale, Naples and Miami residents come to the upper Keys for the weekends, meaning rental homes, duplexes, condos and hotels enjoy great occupancy rates. More importantly, Environmental issues and the fact there is just one main road into the Keys strictly restricts building. There is only so much land still available. The Keys can never be like California in terms of growth. Since they are restricted, this protects your investment.Waterfront Florida Keys Real Estateis the dream of so many, from Paris, to Frankfurt, to Toronto and New York. The Keys real estate continues to be some of the best real estate that money can buy.

Florida Keys overview
General Information Florida Keys
Located in the southern tip of Florida. The keys border the Everglades and the waters of the gulf of Mexicoand the Atlantic..
2000 square miles
Average Temperature 77.8°F
Average Annual Precipitation 39 in
Average Rain Days 109
Population projection 2005 -80,000
Key West population-34,000 plus
Average home cost-June 2005-$600,000 in the Keys
Cost of Living-almost 112-1st in the state
Median age-43.
Major Employment and jobs by Industry in order of numbers
Management, professional
Service occupations
Sales and office
Fishing
Construction
Natural resources
Production and transportation
In conclusion, the Keys are expensive but are like no where else you’ve ever been. If you like the water and are an avid boater, fisherman, diver, you should consider the Keys. You’ll never regret it.

Islamorada Florida
Located southwest of Key Largo on Upper Matecumbe Key, Islamorada (pronounced EYE-la-mor-AH-da) is the self-proclaimed "Sportfishing Capital of the World". People who visit here take their fishing seriously, and Islamorada fulfills its promise of excellent angling with the largest concentration of charter fishing boats in the entire island chain.
Now one of the largest towns in the Keys, Islamorada offers a number of attractions in addition to fabulous fishing. You can explore the wreckage of the Dutch-built ship San Pedro (located in 18-feet of water about 1.25 nautical miles south of Indian Key) or the Underwater Coral Gardens of both Upper / Lower Matecumbe Keys. Hundreds of years ago, Spanish explorers sailed by Islamorada, saw the purple hue of its coastline (from the lavender shells of sea snails, Janthina) and gave it its name "islas moradas", Spanish for purple isles. Indians lived on this small clump of islands nearly 4,000 years ago. Its not likely that you'll see any purple snails, but there's plenty of local color to take in.
Make sure you see the sun set over the water and the fish take the bait in Islamorada, a fisherman's paradise.

Key Largo Real Estate

Key Largo has become synonymous with the laid-back Keys lifestyle. Yet Key Largo is also a particularly vibrant community due to it’s being close to Miami. On the weekends, it is an easy drive for people to visit the Keys and their unique ambience. For investors it means great occupancy rates, for 2nd homeowners a quick and easy getaway. If you want to make this your home, well, Key largo was ranked No. 11 of the 50 Best Places to Live list by Men's Journal Magazine in 2002.
If you’re looking to relocate here, there are homes as of Sept 2007 listed from $269,000. Of course they go up from there:
The Key Largo housing market is diverse and eclectic, and includes everything from ultra-modern big new houses and condos to just plain old-Florida funky, and everything in between. It is a complex market, and will take the buyer or investor some time to comprehend.
The market also covers a lot of physical territory: Key Largo itself, the largest and longest of the Florida Keys, stretches for 30 miles from the resort yachting community of Ocean Reef at the island’s north end (which exits to the Mainland by a separate bridge over Card Sound) to the community of Tavernier at its southern tip
Moreover, another part of the diverse Upper Keys real Estate market is Islamorada, the 17-mile long, half-mile wide, often handsomely groomed municipality that picks up where Key Largo leaves off and is comprised of Plantation Key, Windley Key, and Upper and Lower Matecumbe Keys
Some Facts About Key Largo Arts and Culture
Florida Keys and Monroe County ArtsThe Keys are made up of small towns and communities. However, due to the strong economy from our tourist base, the Arts are a primary part of our culture. Most weekends bring festivals and street parties throughout the Keys and especially in Key West. Photography of wildlife here is greatwww.dhphotoart.com
The Florida Keys Council of the Arts does a great job in supporting Art in the Keys http://www.keysarts.com/Also see the Key West Arts and historical society http://www.kwahs.com/
Music
The Keys Community Concert Band. Susan Bazin 451-4530.
Keys Chamber Orchestra. Call Inga-Lisa Wright, 305-744-0508
The Key West Pops, Inc. - 305 293-7658, P.O. Box 6206
Note to musicians-There are about a zillion Tiki bars etc, that have live music. The times range from the afternoon through the evening. The pay is generally better than you'll find working in a regular club in the rest of the country. In addition to that most outdoor venues shut their nusic down about 11-so the hours are shorter.
Museums and Culture
Ernest Hemingway Home & Museum - 305 294-1136, 907 Whitehead St., Key West FL
Flagler's Station Historeum®-901 Caroline St., 1-305-295-3562.
Key West East Martello Museum - 305 296-3913, 3501 S. Roosevelt Blvd.
Key West Lighthouse Museum - 305 294-0012, 938 Whitehead Street
Key West Museum of Art & History - 305 295-6616
Key West Shipwreck Historeum - 305 292-8990, 1 Whitehead Street
Little White House Museum - 305 294-9911
Lofton B. Sands African Bahamian Museum - 305 293-9692,
Wrecker's Museum - 322 Duval St., 294-9502.
Theater/dance
Middle Florida Keys
Marathon Community Theatre, 5101 O/S Hwy.....305 743-0994
Key West Theatre
Island Opera Theatre.....305 296-1520
Red Barn Theatre, 319 Duval St (Rear).....305 296-9911
Waterfront Playhouse, Mallory Square.....305 294-5015

Florida Keys less expensive property types


An alternative waterfront home that we list for the lower price ranges are the Mobile Homes that are built in Single Family Subdivisions. These subdivisions have a mobile home zoning, and differ from Mobile Home Parks as they are not gated RV Parks. You own your land and the lot sizes are much larger, most with 40’ to 60’ of waterfront. These homes can also be removed from the property and new construction can be built, CBS Concrete, Wood Frame or Pre-fab’s are the current trend now in these neighborhoods.
We also have many Dry-lot homes for sale, this is a term used for homes that are not on the water. If you have a boat and need access to the water we will help you find a home in a subdivision with a home owner’s park that has a boat ramp. Fee’s for these home owner’s parks are usually under $100 per year.
We list Condominium and Town homes from the many complexes in the Upper Florida Keys. However the amenities of these complexes will differ so if you want to make your Florida Keys Real Estate investment into this type of property we can help you with the in and outs of the C/T market.
We try to keep these listings as current as possible, as “Top Listing” agents we usually carry between 20 to 30 Real Estate listings. We always have new listings coming in and like to offer them first to the Buyers that are in close contact with us. All our new listings are usually up on this site within 2 days
We work mostly in the Upper Keys area selling Real Estate in Key Largo and Islamorada Real Estate, but also have listings in Marathon, Grassy Key and as far South as Sugarloaf Key.