Condo or single family home?

Many have decided that this is the year to buy a home, but aren’t quite sure if the monthly payments along with sole responsibility of all maintenance costs is quite what you had in mind, a condo seems like a great alternative.  The prices for condos in Cape Coral are so
affordable and the amenities are so appealing that some buyers are seriously considering condos over homes.  No mowing the lawn or replacing the roof, no pool upkeep, and best of all the very great prices in our area, including condos with gulf access.  There are
381 condos actively for sale in Cape Coral, starting at $15,000 all the way up to $4.2 million.  The median price is right at $115,000. 

I am sure the biggest deciding factor is the home owners association (HOA) and the monthly fees associated with condo living.  A home owners association is a group of local residents that work together to amend and enforce condo rules and maintain the community.  They
often plan community functions, and take care of the communal spaces.  Owners are required to pay a portion of these expenses charged monthly, quarterly, or annually.

Owning a condo is quite different then a home in the respect that in a condo you own only the interior of the unit.  The common areas are shared by all residents.  Many times the HOA fees cover Lawn care, exterior maintenance and upkeep, pool maintenance and cleaning, garbage collection, basic cable, exterior pest control, and building amenities.  The HOA fees differ between communities and can include some or all of the mentioned services.  

 It is so important with the current housing market conditions to research the community’s solvency.  See what kind of financial shape they are in, the balance of their capital reserve accounts; inquire about any upcoming or pending special assessments, and all pertinent information to help you make an informed decision.

If we can help you in your search for a condo, or a single family home, we would be happy help.  We have many qualified agents that can walk you through the process.  Please don’t hesitate to call; we look forward to hearing from you.

Yours in Success,

The Florida Future Realty Team

239-542-8521

inquiry@FloridaFutureAgents.com