Florida Keys Condos Are Good
Vacation Home Investments
Florida Keys condos are very popular as a vacation home purchase choice because you can get a unit that fits your space requirements, without the maintenance worries of a home.
Florida condos have great security, and they usually include a variety of in-house amenities such as a pool and clubhouse.
Condos also can be quite affordable, especially if you're away from the water.
Of course geographically the Florida Keys are flat.
This means that a Florida condo can be tucked back from the ocean's edge, and still capture a water view without the extra price tag attached.
Unlike many other choices for Florida Keys vacation homes, overall you'll find that condos are more worry free. Typically, a freestanding Florida Keys vacation home can spell misery if you don't opt for the extra expense of a property management company to maintain and watch it while you're gone.
Home Owner Associations
Florida Keys condos also come with different Home Owner Association restrictions regarding pets, children, and other stipulations.
If you're considering sub-letting your unit for extra revenue when it's not in use by your family, you'll need to make sure there's no conflict of interest with the condo association on this issue.
Florida Keys Condos are Great Florida Real Estate Investment Choices
State Archives of Florida, Florida Memory, Dale M. McDonald Collection
Within your stipulated contingency grace period, your Florida Realtor needs to have the Seller provide you with a copy of the Home Owner Association Rules and Regulations.
It should be stated as part of your offer to buy, that there is a certain grace period required by you to fully examine the documents to ensure the property is compatible with your lifestyle.
If you wish, you can also request an inspection of the property to be included in
is contingency to buy period.
When you receive the HOA documents, it's important that you actually read
the rules and regulations before your contingency period expires so you know if you're compatible with their stipulations.
Condos also have association fees, and the cost of these fees need to be calculated into your budget plans. Even condos that have no amenities such as pool, tennis courts, and clubhouse have fees. These fees cover the maintenance and management costs associated with running a condominium.
Since you're in the Florida Keys, you also need to be mindful of hurricane season
which runs from June 1 through to November 30.
A byproduct perk of owning a Florida Keys condo is that protecting your unit during hurricane season is easier than protecting a home.
You only have a small outer area of windows and patio doors that need to be shielded from hurricane winds and flying debris.
Plus the roof is not your sole responsibility. Any damage to the roof comes out of the Homeowner Association account you pay into each term.
Hurricane shutters that protect your windows and patio doors from damage during a storm are essential. Without shutters, if a Florida Keys hurricane strikes, and a window or door is broken - the damage to your condo's interior would be extensive. If your unit isn't already equipped with hurricane shutters you can have a professional easily install them.
You'll want to opt for shutters that come down in just seconds with the push of a button. Shutters that have to be installed manually before each storm are difficult at best, and depending on what floor you live on, next to impossible to manage.
Florida Keys condos provide the perfect choice for anyone wanting to buying a vacation home without any of the hassles that come with owning a single family unit.
There are no building exterior worries or yard maintenance concerns to routinely deal with. You have no exterior pest control issues to deal with, and security is built in. Plus living in a Florida condo gives you a chance to participate in condo activities and make new friends.
Overall, buying a vacation home that's a condo, is one of the more affordable and worry free Florida real estate investments you can consider.