Watch Before Buying a Condo in Florida in 2024

Рет қаралды 7,526

Күн бұрын

There is a lot currently going on right now in the Florida Condo Market. Whether you are thinking of buying a condo in Florida to move to as your primary residence or as a vacation home there are some key factors to consider in 2024. First off, there are some differences to consider owning a condo vs a house. The financing and insurance is a lot different.
Also there are some unique factors affecting the FL condos: condo HOA fees are rising due to increased insurance costs. Also, condos where there are a lot of short term rentals usually demand a higher interest rate. Since we already have higher interest rates due to the FED's measures against inflation, this creates a more difficult environment to buy a condo in Florida. For the right investor, the decrease in demand and rising inventory could create a unique opportunity. I explore these topics and more.
If you are interest in the area and would like to talk to a real estate agent in the Emerald Coast of Florida (Panama City Beach, 30A, Destin) that's familiar with the landscape, feel free to reach out to me anytime. I enjoy connecting with viewers of my channel!
Eric Leitten
eric@emeraldcoastabode.com
Text: 850.496.1671
Check out our Vacation Rentals and Management Service:
whatsupbeachrentals.com/

Пікірлер: 12

@seasunfoodfun Ай бұрын

Great video, important to remind buyers of possible climbing expenses.

@tguevara5 Ай бұрын

Some of my coworkers have purchased condos in Panama City Beach for their retirement about 8 years ago. Sadly, the rising HOA fees and insurance have made it almost impossible for them to retain their properties. They're planning to sell their condos in the very near future and moving back to Alabama.

@emeraldcoastabode9685 Ай бұрын

Thanks for watching. Condo Master Insurance policies are pretty exotic compared to a standard homeowner’s policy. There are only so many providers in Florida; the herd got thin after Hurricane Ian caused so much damage. The increased costs from the association is mostly from insurance hikes. Most of the Gulf Coast States are seeing increased costs to own. Florida is on the higher side because of the Hurricane risk. Also age and upkeep of the building are a huge part of it too. So it’s important to review all the details.

@iceandflames 5 ай бұрын

I still prefer Hallandale Beach Florida more it’s a beautiful city with a growing communities and businesses and a good nightlife.🇺🇸❤❤

@emeraldcoastabode9685 5 ай бұрын

I appreciate your enthusiasm on Hallandale Beach. I have been through most of Florida, but haven’t been. I prefer the laid back vibes in the Panhandle to the busy South Florida life, maybe in my 20’s. There’s something for everyone in this great state.

@dougschemmel99 5 ай бұрын

Excellent video

@emeraldcoastabode9685 5 ай бұрын

Thanks for watching!

@billrobbins5874 5 ай бұрын

A beautiful place to visit. Just wouldn't want to live there.

@emeraldcoastabode9685 5 ай бұрын

There’s definitely some caveats with Florida living. Storms, gators, and the infamous Florida Man. There are some pros, I like to think the sunshine and negative ions have done this pasty kid from Buffalo some good. I can’t seem to leave the FL Panhandle.