Condos in the Tampa and Clearwater area have become a popular choice for those looking to purchase second homes, real estate investments, or for those who want a break from outside upkeep and upkeep. This is due to the multitude of benefits associated with condominium living. Combine those benefits with the beauty, abundance of sunshine, pristine beaches and coastline of the Tampa Bay area, and attractions like: Busch Gardens, Disney World, Universal Studios and Sea World, and you have a winning combination that pays for itself time and time again. again.
How come you might ask? Why should you consider a condo over a single-family home, for example? When buying a detached home, you will need to purchase homeowners insurance to secure financing from most lenders and also to protect yourself from loss due to fire, theft, etc. When you buy a condo, insurance is included as part of the monthly maintenance fee; most lenders, therefore, do not require you to purchase a separate homeowner’s insurance policy.
If you buy a single-family home, you’ll have to maintain your home and lawn yourself, while condo owners can spend their time doing other things while someone else mows the lawn and cleans the gutters. Upkeep and upkeep are included in the Condo’s maintenance contract, and these owners are more than happy to pay a monthly fee so they don’t have to worry about doing these things themselves.
For the most part, condo maintenance fees are reasonable when you add up the costs involved and how much it would cost to hire someone to do these things for you. On Florida beaches you will find higher condo maintenance fees and this is because there is simply a lot more maintenance that goes into owning a home near the ocean. On the other hand, owning a condo a little inland can save you a lot of money on the purchase, as well as on monthly maintenance fees.
The safety of your family and the safety of your real estate are, of course, very important to you. While single-family homeowners may choose to outfit their homes with expensive alarm systems, most condo owners have the benefit of private security, which provides 24-hour protection, even when you’re away. Such security also makes it more difficult for “illegals” to detect an unoccupied home. Single-family homes, whose owners are far away, are easier to spot due to things such as: unmowed grass, no lights in the house, and no activity around the house. In a condo complex, there is always some kind of activity going on, which helps hide the fact that you are away from your property.
The condos provide great amenities right there on the property. Some of those amenities are: fitness rooms, swimming pools, spas, restaurants, hairdressers, tennis and golf for its residents. It would be impossible for a single homeowner to duplicate some of these amenities, and the cost of acquiring some of these amenities would be prohibitive. Keep in mind that the more amenities there are in a condo, the higher the maintenance fee can be. It costs money to maintain amenities for residents to enjoy. However, the amenities are what makes condo living so popular. In the long run, the more amenities the condo has, the more salable and desirable the condo will be at a resale.
Real estate investors will find that some condos, depending on condo restrictions, easily rent for short or long term. If you and your family use your condo for only part of the year, consider renting it out to earn additional income for yourself. Ask your real estate agent to verify the restrictions for you before making an offer to buy. Not all condos are equal in this policy.
Now that you know the many benefits of owning a condo, add the undeniable value to you of owning a condo in the Tampa Bay area on Florida’s west coast. Now you’ll have a place to escape to when the temperatures in the north drop! You never have to worry about vacancies at hotels and resorts either. The beach and ocean with copious amounts of sun are at your doorstep. Your Florida condo in the Tampa or Clearwater area offers you the opportunity to get away from areas that are overcrowded with tourists, and yet is just a short drive from Florida’s most popular attractions. If you’re looking for a way to earn some extra income, consider renting out your condo unit when you return north in the summer.
Contact your Tampa Bay area real estate agent today to start finding the condo property that meets your needs. They can help you if you are looking to buy a first or second home, a retirement home or an investment property.