Questions You May Ask Before Purchasing a Pine Island Property
Can I get a mortgage for this property? If the property is a single family home, then most likely yes. If you are inquiring about a mobile home, then you have to know 1) it rnust be on property you are purchasing, 2) it must be a double wide home and 3) it has to be built after June, 1976. You also rnust know that not all lenders will loan rnoney on a mobile home. Please read the information above regarding mortgages, so you will know what will be expected frorn you.
Does the island have city water? Most of the island has municipal water, through Greater Pine Island Water Association, http:// www.pineislandwater.com/ . There are a few areas that are on well, for more inforrnation, please contact me.
Is internet available on the island? Yes, high speed internet is available through the local phone carrier, CenturyLink or Corncast cable. There are sorne “wi-fr hot spots also.
Is this home on sewer or septic? Matlacha is all sewer. Pine Island is primarily septic, but two neighborhoods in Bokeelia, Captain’s Cove and Isle of Pines are on sewer. All other single family hornes are septic. The condorninium complexes and some mobile home comrnunities are on private sewers. For more inforrnation on a specific property, please contact me.
What are the impact fees for new construction? Effective as of June 2, 2015, the impact fees for new construction of a single family horne is $6,315.39. Fors mobile home on a lot, it is $4,781.67. If you build on a property that has had a horne removed previously, you may 155555 511 impact fee abatement. For more information or explanations, please contact me.
Is this property in a flood zone? Probably, yes. Almost all properties on Pine Island are in a flood zone. Although, there are a few areas, referred to as “Pine Island Ridge” that flood insurance is not required.
Will I have to have flood insurance? Flood insurance is recommended, but mandatory if you have a rnortgage.
How much is the insurance going to cost? As your realtor, I cannot answer this. I arts not an insurance agent (nor do I play one in a tv commercial), so I must advise that you contact one of many local companies for these costs. I would recommend, however, that you t, to get at least 2 quotes, and make sure you are comparing “apples to apple,
How much are the property taxes? This is a question that everyone wants to know so they ca.gure out what their costs will be to own a home in Florida. We pay our taxes in arrears, so as long as you close before the end of the year, you will pay based on the property values as of January 1 of the current year. This means that if the property is currently homesteaded, you will receive the homestead exemption for that year. There is a tax estimator on the Lee County Property Appraisers website www.leepa.org , so for more information, please ask me.
How do I homestead a property? Again, all this information can be found on the www.leepa.org website. I will be happy to explain this also.
Can I buy a vacant lot and put my motor home/RV/travel trailer on it and live there for the winter? Lee County does not allow this. Whatever the primary use for that property is, whether single farnily homes, mobile homes, or agricultural, the horne rnust be in place first. No barns, storage buildings, etc. may be placed on the property until the primary use is in place.
If I buy this home, can I rent it out and how much can I expect to receive? First, if you plan to hornestead your home, the answer is no, homesteaded homes are not allowed to be rented out. If you think you may want to rent your property, I suggest that you contact our rental management department for your answers, Pine Island Realty, 239-283-0909, www.pineisland-vacationrentals.com. If you plan to rent it out yourself, there are a number of websites you rnay want to review. You should know that the rental season here is anywhere from November thru April. The most requested month is February, but if you are lucky you rnay find a 3-6 month tenant,