Analyzing the True Ownership Costsfor a
Home on Tidy Island
Tidy Island is uniquely beautiful, open, well maintained and secure – ensuring privacy in a natural waterfront environment. You might believe that it would be very expensive to live here, but that is not so when looked at on a comparative basis.
When considering the purchase of a home on Tidy Island and making comparisons with alternatives that may appear to be less expensive, be sure to ask the following questions about the alternatives:
Are the features of the home and surroundings comparable? Are there expenses that are not included in the regular maintenance fees? Are future special maintenance assessments likely? Are maintenance and purchase costs comparable on a per square foot basis for the home?
What are the features of the home and surroundings?
Tidy Island has a unique location on the north end of Sarasota Bay, offering the great natural beauty of the island near at hand and long views of the mainland mangrove shore to the east, the city of Sarasota to the south and Longboat Key to the west. The island totals about 240 acres of which 160 are permanently deeded as a nature preserve. There are nearly 100 two-story homes stretched out along a mile of the southern shore along with common recreational facilities. The homes on the bayside are two-story buildings: singles and side-by-side duplexes or triplexes. There are also quadriplexes on our lagoon with two units per floor providing all-on-one-floor living. All units have garages for at least two cars. Only a few additional unbuilt units are available. When you add a 24/7 guarded gate and easy water access for canoes and kayaks, there is nothing comparable to Tidy Island in the Sarasota Bay area.
What is included in the maintenance fees?
Tidy Island maintenance fees cover a fully maintained, especially beautiful and very secure living environment. Ask yourself if alternatives to Tidy Island include the following in their maintenance fees:
Guarded access gate manned 24/7
On-site licensed manager and maintenance staff
Fully funded long-term maintenance reserve
Regular maintenance and upkeep of building exteriors in “like-new” condition
Landscaping service covering both individual homes and common areas
Insurance for full replacement value of all buildings
Two swimming pools, two spas, two Har-Tru tennis courts
Well maintained walking trails and boardwalks
Historical and archeological museum commemorating the earlier inhabitants of the island (ca. 500BC and 19th century)
Clubhouse with kitchen facilities – available to residents at no charge
Fully-equipped exercise room
Basic cable TV, water, sewage and trash removal and pest control
What is the likelihood of future special assessments?
Remember that new condominiums will sometimes have artificially low maintenance fees because they are not accumulating sufficient reserves for future maintenance. This will eventually have to be paid for by special assessments. This is a potential hidden cost of condominium ownership.
Tidy Island’s policy is to fully reserve for all exterior landscaping and maintenance. We have had no special maintenance assessments for many years. Tidy Island Boulevard has been repaved and building roofs and siding have been replaced in recent years. Exterior doors and windows are replaced as needed and all buildings are repainted on a regular schedule - all without special assessments by using reserve funds.
How do maintenance fees and purchase costs compare on a per square foot basis?
You will find that Tidy Island homes are considerably larger than typical area waterfront condominiums. On a per square foot basis Tidy Island maintenance fees compare very favorably to alternatives with similar features.