What Key Questions Should I Ask Before Buying a Luxury Condominium?

Did you know that the housing market in Manatee County has increased by 42% over the past 10 years? It’s also important to note that the median home price is $253,500. You can kickstart your retirement with a luxurious condominium that offers all the amenities and comforts you desire. Here are some important questions to ask before you make that big investment.

Are There Storage Spaces Available?

Check to see if your condominium has storage space. You won’t have the benefit of a garage, attic or garage so you will need somewhere to store your water skis and kayaks.

Ask whether storage space is an extra charge or included in the Home Owner’s Association fee.

What are the Parking Options?

During the property tour, find out about your parking options. It is important to determine if there are enough spaces available for your primary vehicle and whether spaces have been assigned.

Where will your family and friends park if they come to visit? What are the consequences for parking in an unsafe place?

Your guests will be able to avoid paying heavy fines and having their vehicle towed.

What are the Property Rules?

Before you purchase a luxury condominium, make sure you are familiar with the property rules. Find out if renters are permitted.

Is the property available for short-term or long-term rentals? What about pets? These answers can be a great help to avoid any problems down the line.

Are there Absentee Owners?

Absentee owners aren’t allowed to live in the building for more than a few hours a week. Before you purchase, it is important to determine the vacancy rate as well as the absentee owners of the building.

The absentee owner number can help predict future wear and tear on the property. It means that the condo’s amenities are in better shape if there are fewer people living in it.

It also means that some small repairs may be overlooked. If there are many absentee owners, ask about the maintenance process.

A Luxury Condominium

A luxury condo can be the perfect place to retire in your retirement. A sound management team will help you get that feeling of community in a building with the right amenities.

You should do your research to ensure that the rules of the property are appropriate for your life. You don’t want to miss out on the opportunity to rent your unit throughout the year.

This post was written by Dayana Susterman Dotoli. Dayana is the head real estate agent for the Tiffany House In Ft. Lauderdale Beach. Dayana has assisted over 150 individuals with buying, selling, and leasing at Tiffany House. The Tiffany House Residences is a 12 story tower,  offers 129 residences, including 1, 2 and 3-bedroom condominiums and townhomes, with exclusive, resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. To view a Tiffany House Condo Fort Lauderdale for sale, Contact us today!

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