Wagner Realty
July
3
3
6 Tips for Buying a Condo in Bradenton
Bradenton Beach is one of Florida's best communities to buy a condo. With a population around 1,500, it offers some of the most beautiful and enjoyable beachfront properties in the Sunshine State. However, given the community's small size, the real estate market can be a challenge.
If you have your heart set one of Bradenton's condos for sale, contact one of our REALTORS® in Bradenton from Wagner Realty. No matter where you are in your decision-making process, however, some advice always helps.
Start with these six tips:
- Weigh the Pros and Cons
If this is your first condo, think about whether the condo lifestyle is right for you. Condos are found in amazing locations, but they do have some unusual features. In most cases, condos are very close to their neighbors and don't include much land.
Most weekly maintenance in a condo property is paid for by association fees. If you are the kind of person who likes to plant a garden or putter around in the lawn, this may cramp your style. If you aren't interested in that kind of thing, it could be the perfect fit. - Understand What You're Getting
Compared to a single family home, a condo tends to be easy to get a feel for. Inspections won't usually turn up any issues, which streamlines the process and saves you on future costs. Still, you should know exactly what you're getting – double-check on benefits like parking and storage. - Check Out Association Fees
Association fees usually give you access to a few perks. Maintenance in and around the property is one of them, as mentioned above. The fees usually also add an additional layer of insurance. This can be valuable in Florida, where hectic summer storms may cause damage.
Still, it's important to know where your fee structure is headed. How much are you paying and how much can you expect rates to increase over time? Review your written agreements closely to be sure. Talk to current residents to ensure services are delivered in a timely manner. - Ask About Special Assessments
Special assessments are one-time fees that cover major projects. They crop up when major repair work has to be done, such as structural upgrades or roof replacements. It's important to know what recent assessments have been levied and what the future might bring.
Special assessments are time-limited, but can be expensive: For example, adding $100 to the monthly association fee for a full year. Since assessments are planned well in advance, they should be disclosed to potential buyers – like you – up front. - Research the Maintenance and Management Company
A condo is somewhat like an apartment in that you'll have a relationship with a property management company and whatever maintenance team they might contract with. It's easy to look both up online and find out whether they can deliver the quality of service you expect.
This is another situation where balancing online research and face-to-face talks with current owners is a good idea. Services can change (and, yes, improve!) over time, which might not be reflected in online reviews by long-gone residents. - Think About Your Future Plans
Buying a condo means making some of the same tough decisions involved in getting a new single family home. However, bear in mind that a condo's value generally does not appreciate as quickly as a house's might. That makes your intended length of residence a bigger consideration.
Want personalized help finding the right Bradenton condo? Contact Us Today!
