That cliffside location would give me a heart attack every time there was an earthquake or bad storm.
If you have a higher budget than $108 million, you could alternatively get the Florida home at 100 Bay Rd, Naples, FL 34102 | MLS# 224011822 | Redfin for $295 million. I suspect the home currently looks different than the pictures. Naples, FL was one of the areas with severe flooding during Milton.
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wowser. And this one has MONTHLY taxes of $118k, home insurance $196K. Add to that the staff salaries… crazy high costs, but the buyer will likely be so wealthy as to not notice
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I believe the listed taxes and insurance costs are calculated based on the Policygenius form that appears below the numbers. You can change the form percentages to from 0.48% and 0.8% to get different tax and insurance numbers.
This particular property has a unique tax history. Others in the area tend to have property taxes of ~1% of accessed value, with accessed value usually changing to align well with recent sale price. So if the property sold for $295M, monthly property taxes might jump to near $295M * 1% / 12 = $246k/month.
With Milton hitting the area 2 weeks ago, I expect there to be insurance challenges. Florida averages far higher home insurance costs than any other state, although unlike property tax, 0.x% type estimates for home insurance usually don’t scale well for expensive homes.
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We have been thinking about lake communities (I would love to live on a lake!) and I have narrowed down what I am looking for which includes no motorized boats.
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I thought of this thread as we watched the fog roll in this afternoon. Clear and sunny at the Hotel Del, but you couldn’t even see Point Loma.
And not improving as we approach sunset.
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