When you’re finally ready to take that step and buy your dream beachfront home, the question always comes down to two property types: a house or a condo. In Destin, you’ll find that both houses and condos are widely available both on the bay side and the beach side.
The coasts around Destin, one of the most idyllic beachfront areas on the Panhandle, are full of condominium towers and newer developments. Still, the market is competitive – the amount of time a listing is on the Destin market has gone down by 12% overall and 8% for condo sales. With a median home value of $375,000 and the median listing price is around $569,000, you may be tempted to search for a home that is both affordable yet luxurious enough to be worth the price. This naturally will lead you to consider both houses and condo.
But which housing type is right for you? Everyone has their own needs, and there are several aspects of each housing type to keep in mind before picking the perfect new home. Read on to find out which property type is right for you.
Pricing
The market along the 30A corridor of the Gulf Coast of Florida’s panhandle is filled with competitive buyers and sellers with vacation homes and rental properties to spare. As most condos are typically around 1,000 feet or less, they are generally less expensive than houses.
Another factor to consider is how close the location is to the beach. Homes located along the water are much more expensive than those in inland communities. However, there are many more condos on the beach than there are houses.
Alys Beach has both condos and houses that are above the median prices across the board, with most homes priced in the millions. Meanwhile, condos at Santa Rosa Beach are less expensive, with many condos priced in the mid $400s and homes in the high $300s.
Of course, there is a slew of other factors that add up to the total purchasing price, including:
- Community fees
- HOA fees
- Insurance
Location
In the 20 mile stretch that makes up 30A, you’ll find a range of communities. These include Dune Allen, Grayton Beach, and Inlet Beach. Destin is situated between a bay and the Gulf Coast, so buyers will find that each of these communities primarily offer beach homes in the millions.
Buyers looking for condos should check out Santa Rosa Beach, where new developments are conveniently located near amenities. The bay side also offers several condos near Sandestin Golf and Beach Resort priced similarly.
In Destin, condos are more desirable as vacation homes or rental properties. A house is a better long-term option for families who need to be near schools and community centers, a feature buyers won’t find in most condo communities. Still, condos offer an easier commutefor those who work in town.
Amenities
Traditionally, condos are found in areas in town that are more popular for workers, commuters, and students. In a major city, this could mean that they are more likely found in areas surrounded by shopping options, universities, or business centers. In areas like Destin, a vacation hotspot, the more popular areas are by the water. You’ll likely find more condos along the beach that you will in any city center.
Houses may be more expensive than condos, but families living in Destin will appreciate having more space. Most houses in the area have more than 2,000 square feet, along with a garage and a lawn. Long-term residents could benefit from purchasing a home because they are easier to sell than condos.
No matter what you choose, houses and condos in Destin include beach access, golf courses, shopping, restaurants, and more. While some house and condo subdivisions have convenient access to both, you’ll find that many condominiums have beachfront pools and restricted beach access exclusively for those who own property in the building.
Initially, it may be tricky to determine whether a house or condo is right for you. Even though Destin offers the best of both, choosing between two different property types can be enough to baffle any homebuyer. If you keep the pros and cons in mind and go through all those checklist items to buy the perfect condo or home in Destin, you’ll find the right home for your family in no time.
Additional real estate resources
Luke Skar tells us about the differences between conventional loans and FHA loans in this informative article
Jeff Nelson discusses what you should know about buying a beach condo for investment in this well-written guide.
Anita Clark gives a clear picture of the benefits and drawbacks of both luxury homes and high-end condos.
Bill Gassett goes over some important tips for buying a condo that many novice buyers tend to overlook.
