We all do it. Fantasize about buying a condominium on the beach or even any new home in a different location. But we do so without even knowing whether or not we can afford it. I can write 10,000 pages on the first steps to take before buying a piece of property but unless a person has the intention of buying a house or condo and sets out to do the research ahead of time, chances are, they’re going to come across a home they love and then try to find a way to buy it.
It’s one of the most common reasons people buy a house or condo, or any type of house for that matter, you’ve seen online a house either in social media feeds, while browsing real estate websites or maybe you went down the rabbit hole of an article that led you from one place to another and lo and behold, you’ve landed yourself on a real estate site looking at condominiums you have no idea you can afford or not.
That’s okay. This happens a lot. We deal with hundreds of buyers a year that had no intention of buying a condominium or a house until they find that perfect one. It’s very easy to do in beautiful places like Panama City Beach Florida. We are known to have some of the most beautiful beaches in the world so naturally homebuyers tend to look around at what’s available either in a vacation home, permanent residence or even a vacation rental.
This is when we get a phone call.
People call up saying they saw a condominium for sale and think they might be able to afford it. With a little bit of research and some financial digging, many times the buyer can easily afford a condominium. Condominiums in Panama City Beach start at less than $100,000. Of course, these are ideal vacation properties because they are either studio apartments or one bedroom condos with a little kitchenette. This is perfect for a vacation rental, or an investment property.
You can enjoy the beach on your schedule and your time of the year and rent it out when you’re not using it. It’s a perfect set up. Typically, the monthly fees or even the mortgage payment can be covered by rental fees. Most of the condominiums in Panama City Beach have homeowners association dues that are either required monthly or quarterly. Several condo buildings even have cleaning services that can clean up after every vacation renter. This is perfect for people that don’t live in the area and can’t get back to the condo every weekend to fix it up, do the laundry and prepare it for the next renter.
However, many of these condominiums do have rules and regulations when it comes to renting. Some buildings or complexes only allow a certain amount of renters per year. Some require a certain percentage of owner occupancy in the condominiums, meaning that the owner needs to occupy the property a certain amount of time throughout the year.
Searching online for a vacation condo or rental really gets the juices flowing and your mind starts racing about all the ways you can enjoy your vacation condo. I mean, for about $500 a month you can enjoy a fantastic condominium on the beach that you can visit anytime. Most of the complexes have a wide range of resort-style amenities such as swimming pools, hot tubs, sauna and steam rooms, tennis courts, recreational services and activities for the kids.
I know you’re going to look. But, if you want to narrow down your search to a building that suits your lifestyle, your vacation needs and your budget, contact us today. Because we know each and every building and complex on the beach, we can help pinpoint the right condominium and complex for you. So go ahead and lock, but when you’re ready to buy or simply want more information, contact us today.