There are many things to keep in mind while searching for a condo in Destin, Florida. An ideal destination, this city has easy access to the Gulf and some of the best beaches in the country. Outside of price, there are a number of important things to consider before deciding which one is perfect for you. Keep reading for tips on buying the perfect condo in this city.
Location
The location of any property you may be interested in purchasing is key. This is true for both personal comfort and resale value reasons. While aspects like paint, amenities, and repairs can be updated, locations are often one factor of a property that is out of your immediate control.
Luckily, Destin is an ideal beachfront location. Right on the Gulf of Mexico, the city is filled with Florida sunshine and coastal air. It has easy access to nature trails, golf courses, and access to gorgeous, white sand beaches. And thanks to the ever-growing population, you can expect that the value of your new condo will increase over time.
Condo Fees
Once a condo has been purchased, the second most important fees include property taxes and condo association fees. These are fees that you will be expected to pay in addition to mortgage and insurance.
Condo association fees are based on how many units there are in a building, what it costs to maintain the property, and what funds are set aside for major repairs. In 2017, fees nationally averaged at $331 per month. However, some developers offer to cover the cost of association fees for the first few years as one of their perks for new buyers.
Condo Insurance
Unlike traditional homeowners, condo owners do not own the land their property sits on. That means that the insurance you’re expected to have may cover different incidents.
Condo associations and HOAs typically offer a master insurance policy that covers incidents that occur in outside and shared areas. However, many of these policies do not cover injuries, incidents, and theft within the confines of individual units. Condo insurance will help cover all of your bases.
On average, condo insurance costs between $100 to $400 a year. This varies based on location, deductibles and what limits you set.
Condo Management
Another aspect to keep in mind is to inspect the community’s management. Managers are usually to go-to when you need a repair. They’re also great sources on the condo’s overall financial stability.
Spend some time talking to your managers, reading reviews, and chatting with neighbors. This will give you a clear picture of just how involved the managers are, and what you can expect from them.
Of course, some communities manage themselves via HOAs or condo associations. Residents may schedule regular meetings where they make decisions together and where they discuss community policies and rules. Make sure to do your research to know exactly what style you’re dealing with.
Condo rules
The rules and regulations of a condo community can vary from place to place, so it’s important to go through them all before you buy. Commonly referred to as the CC&R, or the covenants, conditions, and restrictions, these rules range from:
- pet ownership
- rental policies
- acceptable renovations
- Parking restrictions
- smoking policies
Of course, these rules are not set in stone. Owners can make amendments to the rules that may be put up to a vote for fellow unit owners. Make sure to check with the association or condo manager to see how rules can be changed, and how successful proposed changes were in the past.
Condo amenities
Outside of location, another important thing to consider before pur chasing is the amenities ni each condo. Some popular amenities include
- gym and spa access
- parking for guests and large vehicles
- balconies
- swimming pools
- BBQ and picnic areas
- play areas
- access to major interstates
- docks and private beaches
Destin Towers is great for people who want a beachside, modern life. Just steps away from the sand, this condo comes with covered parking, a Gulf front pool, tennis courts, and hot tubs.
Families will enjoy the condos at the Holiday Surf and Racquet Club. This building includes a fitness center with a sauna, a heated pool, and a gated, covered patio.
Another option is the units at Harbor Landing Condo. These units have beautiful views of the beach from private balconies, a community dock, and deeded beach access.
Condo Community
Nothing says home like friends all around you. Take the time to meet with potential neighbors before moving into a condo. Most residents will eagerly share their experiences with the building and their experiences with living in Destin in general. These people can be a great resource before you make the final decision on your new home.
The condo lifestyle is a one-of-a-kind way of life. Whether you’re looking for a relaxing beach-front home or just a place to escape, there’s a condo in Destin for you. Contact us today about finding your next best lifestyle change.
