In some ways, shopping for Boca Grande condos for sale is similar to looking for available homes. However, there are some unique factors in play that make the process different. Knowing where to find the best available properties will help you as you seek to determine which condo is best for you to invest in. Here are some places to look and tips to remember as you shop for Boca Grande condos for sale.
1. Learn who manages the condo
One of the main benefits of owning a condo rather than a home is that you don’t have to worry about property management or upkeep as much. Many condos are managed by larger groups or corporations that take care of certain maintenance jobs while also providing shared amenities. It’s important to know a few basic facts about the group that manages the condo and the services they provide before you make a decision to buy. You’ll want to know what tasks they are responsible for and what jobs will fall onto your plate.
Remember that there may also be a fee associated with the upkeep of shared amenities. Some costs may be associated with living in the condo complex that fall outside your monthly payment. Condo communities can also impose fees on each of their residents that may go up on a year-to-year basis. Before you choose a community, ask how much fees have increased in the past year and how much the property managers expect them to rise in the coming years.
2. Determine what sort of lifestyle you want to have
Thinking about how you want to spend your time on a daily basis will impact what sort of amenities you look for in your condo community. Perhaps you enjoy spending time outside, and you want to have a condo that has an on-site pool or an outdoor kitchen with a grill that you can use to prepare meals. Maybe you care more about your condo community having an on-site fitness center where you can get in a workout regardless of the weather outside. Don’t be shy about expressing your wants and needs to your real estate agent, as the two of you work together to find the best condo for your needs. Another thing to keep in mind is that certain amenities can raise the value of your condo even if you don’t plan to use them yourself. You may not care about your condo community’s pool or clubhouse, but a future buyer might.
3. Look for FHA-approved condos
An FHA (Federal Housing Administration) loan is a popular loan used by many home buyers. FHA loans allow you to purchase a home with a down payment of only 3.5% of the total cost of the home. These loans come with various requirements, such as a minimum credit score and mandatory mortgage insurance. The FHA provides a list of approved condo communities on its website. This can be a great starting point for you to consider as you begin to shop for Boca Grande condos for sale. Many condos not approved for FHA loans might also present difficulty for buyers who plan to use a conventional loan.
4. Ask about special assessments
Sometimes a condo community will look to perform a specific renovation or upgrade to the community. They will fund these projects using special assessments paid for by their residents. Usually, these projects are voted on ahead of time by the HOA board. It’s possible that certain special assessments are already in place when you move into your condo. If so, you’ll be required to pay the related fees even if you weren’t a part of the decision-making process. It’s important to ask about these fees and requirements ahead of time so that you aren’t surprised when you’re asked to make payments later on.
5. Review the community regulations
Most communities have various rules that affect what residents can and cannot do. These rules may apply to activities that take place inside your individual unit as well as the condo community’s shared spaces. Perhaps they have quiet hours when you could be reported if you make too much noise. Maybe there are special steps that you have to take in order to reserve one of the common areas in advance. These rules aren’t inherently wrong or bad, but they can come as a surprise if you don’t take the time to ask about them before you move into the property.
6. Know about the top communities in the area
There are several excellent condo communities in Boca Grande, but a few developments stand out at the top of the list. The properties at Harborshore at Boca Bay Condominiums regularly receive high ratings from past tenants. These condos sit in close proximity to the beach, which allows residents to enjoy fantastic sunset views over the water whenever they would like. There’s also an onsite dock that stretches out into the ocean, perfect for fishing or evening walks along the water. Many people also choose to shop for condos at Sunrise Point. The property has an onsite pool and hot tub and sits directly across the street from Englewood Beach. Each unit is large and spacious, offering you plenty of space to stretch out and enjoy your island retreat.
7. Work with an agent who specializes in condos
Some agents have unique skill sets and connections that enable them to have greater success when helping buyers shop for condos. In the Boca Grande area, many people find that the talented realtors with The Dinan Group stand alone as the top choice when shopping for area condos. They have a deep understanding of the local market, and they take great pride in listening to each of their clients so that they can fully understand their unique needs and goals. Reach out to their team when you’re ready to begin seriously shopping for Boca Grande condos for sale.
