Beach Condos for Sale — What to See
So you’ve saved your money and are ready to realize your dream of living at the ocean in a beachfront condo? We give you 7 tips for buying beach condos.You have enough for a nice down payment and feel sure you’ll be able to get condo financing for the rest? The hard part now will be narrowing down the huge selection of beach condos on the market. Due to the present economy, and the housing slump, this is an excellent time to buy a condo.
Right now, you’ll find a wide range of beach condos for sale, and many for sale are now offered at reduced prices. However, don’t fall in love with the first one you see; by doing some homework, you can discover exactly what you’re getting with your beachfront condo, and whether it’s a good fit for you and your family.
Buying beach condos is a major decision that could affect you for years. Take your time and do some comparison shopping when searching for condominiums. Shop for the best condo financing, too. All mortgage lenders are not equal. If you shop around and compare rates and features, you’ll find the best deal ask people in the same are get local tips for buying beach condos and let them tell you about the mistakes.
Why is This a Good Time to buying Beach Condos?
This is a good time to buy a condo because the economy is depressed. Many people are having to tighten their economic belts, and the first things to go are usually expensive luxury items, like luxury condos. In the case of expensive items that aren’t absolutely necessary, any condos used as vacation property can be considered luxury condos.
Another reason this is a good time for buying a condo is that owners are usually willing to negotiate more readily than they would be in a strong housing market. Some owners will even provide condo financing. If the interest rate is competitive, this could be a great deal for you.
Tips for buying beach condos
You’ll probably have the happiest outcome buying a condo in a town with which you’re familiar. Maybe you’ve spent vacation time in the area, or perhaps you have friends there. If you’ve already gotten to know the town and the locals, you’ll have a better idea if this is somewhere you’d like to buy a condo.
Consider the weather of the town in which you’d like to buy a condo, too. If you’ve only visited in the warmer months, make sure you understand the winter climate. Winters at the beach can be brutal. Wet, frigid winds come off the sea and can chill you to your bones. If this is something you cannot tolerate, you probably wouldn’t enjoy your beachfront condo very much during the Winter months..
When you’re comparing condos for sale, consider the amenities offered. Does the complex have a pool? Is it heated? Are there tennis courts? Is a membership in a country club or golf course included? Does the complex include boat slips or a dock? The amenities provided with any condominiums for sale should match your interests. For example, if you don’t play golf, membership in a golf course will offer you little value.
Some beachfront condominiums offer special features. Our favorite beachfront condos have a private fishing pier. Since my partner and I love saltwater fishing, these condos would be perfect for us.
Another thing to consider when buying a condo is the security system in place. Is there a guarded entry into the parking lot? Is there a 24/7 security guard on the property? Is there a keyed entry from the beach? If not, anyone from off the beach can take advantage of your swimming pool and other amenities.
The Monthly Association Fee
When you buy a condo, you’ll almost always have to pay a monthly association fee for grounds upkeep and other things. Before you buy a condo in a specific complex, find out how much that fee is and exactly what it covers. More importantly, find out what it doesn’t cover.
When perusing condominiums for sale, discover how the grounds and amenities are maintained. Are they kept in good repair? Are grassy areas and shrubbery kept looking their best? Are exteriors maintained and freshly painted? These can give you a good idea of how the beach condos are maintained overall.
Before you buy a beach condo, make sure you understand all the rules that apply to owners. Are pets allowed? If you’re a pet lover and have always had pets, you probably won’t be happy in the long run without having the opportunity to own a cat or dog. You might not miss it at first, but once the excitement of living in a beachfront condo wears off, you might miss pet ownership.
Having Your Say in Your Beach Condo is Important
Also, before you buy a condo, find out about the owners’ association. How is it governed? How are decisions about the condos made? This can prove to be a very important aspect of buying a condo. Make sure you’ll have a say in major decisions regarding your beachfront condo.
Where Will You Park?
When looking at condos for sale, even little things can turn out to be important. One is the parking lot and its rules. Some beachfront condos have parking lots that are too small. Because of this, each condo owner might be given only two parking passes. If you own two automobiles, both your parking passes. Any guests you might want to have will not be allowed to park in the parking lot adjacent to the beach condos. This might not seem important at the time you buy a beachfront condo, but it might turn out to be a problem later. If you expect frequent overnight guests, you’ll do better with a beachfront condo with an expansive parking lot.
Buying New Condo, or buying used beach Condos?
When looking at beach condos for sale, you’ll have to decide between new condos and established condos. Both have their advantages, along with their disadvantages.
A new condo will be sparkling clean and damage free. If you get it on the pre-construction aspect, you might be able to choose from different interior amenities. Some luxury condos allow buyers to choose paint colors, finishes, and appliances. One problem with new condos, however, is that there’s no history. In other words, you won’t have anything to judge how the complex is run. Of course, new condos might also be more expensive.
Older, established beach condos will have probably already established an “atmosphere.” It will be easier for you to judge what the condo owners are like than it would be with a new condo. Is the complex made up largely of retirees, families, or young singles? New condos probably won’t provide you with this kind of information.
Of course, the downside of used beach condos is that they could have flaws. These problems could be small and easy and inexpensive to repair, or they might be major flaws that will require the assistance of a contractor. If you’re buying a condo that’s older, have it inspected by a building contractor first.
Where to Find Beach Condos for Sale
Once you’ve decided on a specific area in which you’d like to buy a condo, start looking for condominiums for sale. Your best bet is often with a reputable real estate agent. You might be able to find a condo for sale that’s in foreclosure or short-sale status. In this case, you could find a great deal on condos for sale.
If you prefer a private sale, you can often find condos for sale in magazines, local newspapers, and on the internet. Many condominiums for sale on the internet include a video tour. The tour usually includes the interior of the condo for sale, along with a tour of the grounds and amenities provided.
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