For many, buying a condo is the ultimate dream, and with benefits like no yard to mow, security and affordability, it is easy to see why condo ownership is in high-demand. However, when searching for a condo, it is essential you know that condos are a bit different from town homes or single-family homes. Below are some guidelines you should always remember when you intend to purchase a condo in Florida.
Know the rules
In Florida, every condo association has its own unique set of rules and regulations. Some bylaws are standard such as designated parking space, while others tend to be more peculiar to the particular condo. Before you decide to pay for a condo, ensure your realtor gives you a copy of the condo association rules for you to read through to make sure you are comfortable with them. If you own a pet, ensure you get the pet policy in writing and that your pet does not breach any size restrictions.
Hire a professional Realtor
Hiring a Realtor who has in-depth knowledge and vast experience about condos is vital. Condos are not apartments and aren’t single family homes either. Condos are unique, and they offer you the benefits of both, but before you dream about getting your condo in Florida, you need to hire a professional Realtor to guide you through the process.
Consider the privacy offered and shared amenities
When you buy a condo, have it in mind you will be sharing the outdoor spaces and some facilities. Some condos have laundry machines in each suite while others use a laundry room. Check out several condos to get the one that suits your privacy level.
Condo Fees
Generally, Condos are located in a shared building, and to appropriately maintain the structure and outdoor space every owner needs to contribute a fee. Although paying an extra fee every month alongside your mortgage might make you frown, the building will be appropriately maintained thus favoring you as a condo owner. Before deciding on the right condo for you, calculate how much it would cost you monthly to live there considering your mortgage and the condo fees. If the condo fees are too high, you might want to find another property closer to your budget.
Working with a real estate agent in Florida will ensure that you have the best options to choose from when trying to buy a condo. We will guide you on what condos fit all your needs and requirements.
The Gillen Group - Your Gulf Experts at Coldwell Banker Residential Real Estate on Longboat Key!
Hi, We are The Gillen Group (Brian and Eileen Gillen) and we'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. We'd be honored to put our real estate experience to work for you.