Fort Lauderdale Homes vs. Fort Lauderdale Condos
Posted by Eric Miller on Saturday, August 6th, 2011 at 10:11am.When you start your search for Fort Lauderdale Real Estate one of the first questions you may think about is whether you would prefer a Fort Lauderdale Condominium or a Fort Lauderdale Single Family Home?
Often when people start to talk about this question we, as Ft Lauderdale Realtors, hear the answer, “We would prefer a Fort Lauderdale Condo but we are going to look at Fort Lauderdale Homes for Sale first because we don’t want to pay monthly maintenance fees”. With this comment in mind, it is a good time to go over a condominium budget and redirect the search for a Ft Lauderdale property to the Ft Lauderdale Real Estate that is right for you and your family.
Approximately 25% of the monthly fees of a Ft Lauderdale condominium pay for the building insurances. These insurances cover you up to your interior walls; and even though no additional insurance is required by many Ft Lauderdale Condos we do suggest that you carry homeowners insurance. Insurance of a median priced Ft Lauderdale Home insurance will run you approximately $2400 per year or $200 per month, buy a more expensive home, and insurance will go up accordingly.
Purchase a small Fort Lauderdale Home and you will most likely have some additional services to help maintain the property. The lawn service will run you approximately $100 per month, the pool service and chemicals will add another $100 and all of a sudden we are looking at a $400 monthly expense, with the insurance. We then need to add water and trash bill, which is usually covered in most Ft Lauderdale condominiums.
In a well managed Fort Lauderdale Condominium the building will be putting away a reserve for a rainy day, Rainy days certainly bring to mind a new roof. When it comes time for a new roof hopefully your Ft Lauderdale Condo has already put the money into reserves, and you will never see the bill. In a single family home that same roof can cost $20,000, divided over the years the roof has been in service and you can be looking at another $100 per month.
Generalizations for sure but you are starting to see the point.
You can see where this conversation is going. Simply, the trade off between the cost of owning a Fort Lauderdale Condominium and a Fort Lauderdale Home is not as much a financial conversation as you may think. The cost of maintaining a home will be very similar to the monthly costs in a Ft Lauderdale condominium. Back to the original question, of which is right for you and your family, a Fort Lauderdale Condo or a Ft Lauderdale Single Family home? Review your family’s needs and wish list, and focus your search accordingly. Work with a team of Ft Lauderdale Realtors to find the best Fort Lauderdale Property for your personal wish list.
Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide of Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.
Blog Tags
Print
Share3 Responses to "Fort Lauderdale Homes vs. Fort Lauderdale Condos"
Actually, i think it is an so important post. Thanks a lot for your valuable post.
Posted on Saturday, December 24th, 2011 at 11:14pm.
[...]Estate Market.
Related Links
Ft Laudedale Homes vs Condos
Brand New Condos in Fort Lauderdale Condo Market
[...]
Posted on Saturday, April 7th, 2012 at 12:07pm.
Leave a Comment
Ocean Club Condominium Fort Laudedale Updates Look Great
Recently the Team at Eric Miller and Associates Keller Williams Realty Professionals in Fort Lauderdale entered into a contra... Add Comment Read MoreWhy the Tides at Bridgeside Square maybe a Fort Lauderdale Bargain ?
We all know that is extremely hard to compare one home to another and if it weren’t there really would be no need to ap... Add Comment Read MoreImperial Point Post Modern Classic Sold
Drive through the streets of Imperial Point a Fort Lauderdale community built during the real estate boom of the 60's and you... Add Comment Read MoreCondos near Fort Lauderdale Beach
Fort Lauderdale Realtors at Eric Miller and Associates Keller Williams have announced today the closing of another resale uni... Add Comment Read MoreThe Dynamics of a Fort Lauderdale Real Estate Transaction
Traditions of a Ft Lauderdale Real Estate Deal This morning I was thinking about how I am participating in a r... Add Comment Read MoreFlorida Real Estate Taxes - New Amendment 4
New Amendment 4 Florida There is a new amendment about to be voted in the State of Florida and even though it has the sa... Add Comment Read MoreShort Sale Completed in Aventura by Ft Lauderdale Realtors
Short Sale Success Ft Lauderdale Realtors, Eric Miller and Associates are proud to have completed the short sale transac... Add Comment Read MoreFt Lauderale Short Sale Team Reports Successful Pompano Beach Closing
Fort Lauderdale Short Sales Experts, Eric Miller and Associates of Keller Williams Fort Lauderdale who are Certified Distress... Add Comment Read MoreFt Lauderdale Luxury Condominium
Harbourage Place Condominium is one of the most luxurious boutique buildings in the Ft Lauderdale Condo market. Built in 1999... 1Comments Read More5 Tips for Working Effectively with your Real Estate Agent
When it comes to buying or selling a home, working as a team with your real estate agent is essential. While your agent is ce... 1Comments Read More
[...]Estate Market.
Related Links
Ft Lauderdale Homes vs. Condos
Berkley South - Value Near fort Lauderdale Beach
[...]
Posted on Monday, August 29th, 2011 at 9:01am.