Real Estate Dilemma: Should You Buy a House or a Condo?

When buying a new home, especially in the Florida area, buyers are faced with a lot of choices. The state is packed with housing options, with the main two probably being either a house or a condo. It may seem like a simple choice, but in reality there are a lot of pros and cons that need be weighed up before you can settle on the one that’s best for you. So with that in mind, let’s take a quick look at the pros and cons of each option.

Buying a house: the pros

The first big checkmark for buying a house is privacy. Unlike a condo, if you buy a house, you’ll be able to have free-roam of the entire building. You’re also free to make various structural changes that you may like. Want a garden shed? No problem. Heck, with a house, you actually get a garden – something that no condos can really offer. It’s true that some feature rooftop gardens, but they’re not in the same league as the backyard of a house. Choice is another benefit of house ownership: condos tend to be limited by layout and space restrictions, whereas there are countless houses in Florida, all in different shapes and sizes.

Buying a house: the cons

With all the benefits house ownership can bring, there are some downsides. Maintenance, for example, can be a real hassle for house owners. Unlike in a condo building, which often have maintenance agreements in place, your house is your responsibility entirely. And some houses are prone to serious problems that can be very costly. And talking of cost, a house will almost always cost more than a condo. Even with tracker mortgages, which can reduce the financial burden somewhat over time, the ticket price of a house will always be restrictive. While a variable rate mortgage can help you to manage this cost over many years, it’s still a big investment – in both time and money.

Buying a condo: the pros

The big benefit of condo ownership is lower monthly costs. Very often the service fees include water, electricity and other utilities – this can save you a lot of cash in comparison to owning a house and saddling all the bills. Many condo buildings also include added amenities, for example private car parks or swimming pools – whereas houses with these options may be too pricey to consider. Security is another key benefit: condo buildings often have private security and video cameras, so you can feel more secure and safe when at home. The burden of maintenance will also be much reduced with a condo. Whereas with a house you’ll need to take care of every leak, every blown light bulb and every bit of damage yourself, condo buildings often have maintenance men and janitors as part of the service agreement.

Buying a condo: the cons

One of the key disadvantages of condo ownership is the associations that they often come bundled with. Some people may enjoy getting involved with these, but for others they can be time-consuming and frustrating. While condos come with maintenance agreements some of the time, these can be costly and will increase the financial burden including your mortgage. The rates of these agreements can also change without notice, increasing frustration. Another big problem with condos is neighbors. While many are just fine, there’s always the chance you’ll get a bad one above, below, or to the side of you. Like music playing at all hours and heavy footsteps overhead? Thought not. With a condo, you’re always at risk of new disruptive neighbors moving in – especially when so many of the condos are rented on short-term contracts. It may be an idea to visit the building first and discuss the residents with the management.

If you’re thinking about either home ownership or condo ownership in the Florida area, remember that you’ll do well to examine all of your options. With property taxes in Florida always changing, there is always a right and wrong time to buy, regardless of the property type. Whichever you choose, Florida is a great state filled with friendly folks and sunny skies – so you’re sure to love it no matter what you do.

Choosing the Right Security Features Can Add Value to Your Home

If you have recently bought a house, are considering placing your current home on the market or are struggling to sell your property, have you considered its security features? A home where steps have been taken to improve its security – particularly if it is in a less desirable neighborhood - is more attractive to prospective buyers and is likely to attract a higher sale price than a property where such modifications have not been carried out; even if you do not plan to sell for some time, fitting security features to your home is still a good investment. Here we look at six areas of home security that you might like to consider for your own property.

Fit an alarm system

Not only does an alarm system alert you and your neighbors to the presence of an intruder, but simply having a visible alarm box can be enough to deter a potential intruder from trying to enter your property. With so many alarm systems on the market, there is a device to fit every budget. Another plus of fitting an alarm system is that it can provide a good saving on your home insurance, especially if it is one that is monitored.  When your home is up for sale make sure that the presence of an alarm system is listed in the fixtures and fittings and when you show prospective buyers round highlight this feature; this will be particularly attractive to them if they were already thinking about installing an alarm system themselves.

Ensure your doors are secure

Poor quality doors with insubstantial locks can easily be forced open and leave your home vulnerable to intruders. Fitting more superior doors won’t just enhance the security of your home, but will also add value to the property through the extra character and style that they bring with them. There are a wide range of secure doors for you to select from, which often have additional security devices including deadlocks, a peephole and chain; even if your preferred door does not have these, they can usually be added for surprisingly little extra cost.

Consider shutters

As windows are a common entry point for intruders to gain access, perhaps you should consider getting shutters installed to protect your home. Forget those shutters that were for use during storms, the shutters that are now available are made from very strong materials, which won’t just help you when the weather takes a turn for the worse, but can help keep intruders out of your home. They can also provide extra privacy and avoid the need for pricy double glazing, as they work to keep both the street noise out and prevent heat from escaping. The addition of shutters to your home can also add to its character and appeal, which as much as anything can add to its price tag. For the small cost associated with fitting shutters, they are well worth it, as you are able to more than recoup this cost on the sale of your home; if you don’t sell your home, what you can potentially save from not installing double glazing will pay for the shutters several times over.

Added security for doors and windows

Leading on from additional security for your doors and windows, you might like to think about the idea of adding a security mesh to them. While these devices might simply appear like a fly screen, the technology that the stainless steel mesh employs makes it virtually impossible for an intruder to enter your home once in place, even if you were to leave your doors or windows open, as might be a necessity in hot weather. They can be purchased in a range of colors, so you should be able to match one to your exterior. While a more expensive option than shutters, for the extra protection they provide and the value that they can add, they are still very cost effective.

Secure your boundary

Although a fence won’t necessarily keep an intruder out, a well maintained fence around your property can provide other benefits. If you have a family, it allows you to let your children have free run in the yard without worrying about the traffic; the same goes if you have a pet dog. It also prevents stray dogs entering your property and might also keep out unwanted sales people into the bargain! Whether you choose a wooden, metal or sturdy plastic fence, it adds to your property’s overall appearance and resulting value.

Fence off the pool

Keeping your children safe near a pool is every parent’s priority and as a result pool fences have to conform to strict regulations for them to be sold as such. However, just because they have a practical function doesn’t mean they can’t be attractive too. Whether you choose one made from tubular steel, aluminium or glass, you can be sure that a pool fence will enhance that area of your backyard. A pool with a well protected fence can indeed add thousands of dollars to the price of your home.

Florida Market Rates are Looking Sunny

Florida market rates are looking sunny. With the election lingering, the debt crisis in Europe, hurricane season upon us, and a stimulus on the horizon, there is still a perfect climate for homebuyers looking to cash in on historically unprecedented low mortgage rates for a home in Florida. Let’s flip the conversation coin from rates to pricing for a sunny second.

The 5 best markets where prices are rising:

1. Detroit, Mich
2. Phoenix, AZ
3. Boise City–Nampa, Idaho
4. Florence, SC
5. Akron, Oh

The 5 worst markets for value and pricing:

1. Bridgeport-Stamford-Norwalk, CT
2. Adison, NJ
3. Gulfport-Biloxi, Miss
4. Elmira, NY
5. Atlantic, NJ

In conclusion, drinking the real estate and finance Kool-Aid, it will be sweet to know that with the average 30 year fixed rate around 3.75% and Florida’s track record being the first nationwide to bounce back after a major recession and downturn, it’s a sure bet for South Florida home ownership and investing! Also, yielding the factual result, everyone wants a piece of the sunshine and the European dollars being the first contributors and no state income tax, makes buying a home in Palm Beach County, Florida a sound and sunny decision.

If you have any questions about real estate in South Florida, contact Oleg Sulyma of Golden Bear Realty.

Bank of America Short Sale Program in Palm Beach County

In order to help homeowners avoid foreclosure in Palm Beach County and the rest of the country, Bank of America is offering a wonderful relocation program for Short Sale qualifiers. This exclusive program is only available to those who complete the Short Sale by September 26, 2013. The relocation fund is between $5,000-$30,000 and will be paid at the closing of the property. This program is automatic for those already involved in a short sale agreement with Bank of America. You can opt out of the program by simply uploading a written request and sending it to Equator (the processing company). Your short sale will continue with no changes to your current agreement. Your Real Estate Professional will be able to assist you with this process.

Some tips to complete your short sale successfully and in a timely manner are:

• Keep in contact with your Real Estate Professional
• Get all needed documentation returned as quickly as possibly
• Quick response to all counter-offers
• If applicable, the completion of all subordinate liens

If you have questions or would like a private consultation on the necessary steps for doing a short sale in Palm Beach County, Florida contact Oleg Sulyma, a Realtor and short sale specialist with Golden Bear Realty.

What to be Aware of When it Comes to Foreclosed Wellington Real Estate

When it comes to buying foreclosed Wellington real estate there are certain things you need to understand before you do. The first thing you need to understand is that there are two kinds of foreclosed Wellington real estate now available to purchase.

What you need to understand is that there is quite a bit of difference between bank owned foreclosed Wellington real estate and those that are sold through an auction. As soon as a bank takes repossession of any properties then the original mortgage note on that property becomes void and the bank that has possession of it can then sell it for any price they want. So of course getting the best deal possible may not always be that easy.

When it comes to foreclosed properties being sold at auction you need to be aware that these often come with tax and creditor liens attached. As a result you will then be responsible for paying off these before you are able to take possession of the Wellington property.

Things To Do Before Investing In Real Estate In Palm Beach

When it comes to buying real estate in Palm Beach for investment purposes there are certain things you should do. If you are not careful when making such purposes rather than seeing a healthy return on your purchase a later date you could end up losing money instead.

Before you actually purchase any real estate in Palm Beach as an investment arrange for it to be assessed. So make sure you hire the services of an experienced assessor to do this work for you. They will immediately tell you based on certain criteria whether the property you are considering buying makes a sound investment or not.

When buying such real estate make sure that you go with Palm Beach properties that have been well maintained and are situated in a good neighborhood. This will then make it far easier to rent the properties out should you wish to do so. Also only choose the kinds of properties that you know will be easy to rent out such as condos, apartments or two or three bedroom houses.

Why You Should Purchase Palm Beach Gardens golf course homes

When it comes to purchasing Palm Beach Gardens golf course homes you may want to consider investing in some of the private country club communities like BallenIsles, Old Palm Golf CLub, and Mirasol. Even if you are someone who doesn’t enjoy playing golf living in such a community can prove very advantageous and there are quite a few short sales and well priced properties. Some homes are even selling for 30% to %50 lower than they did several years ago.

The first reason for you to consider investing in Florida golf community real estate is the level of security being offered. In most cases these communities will employ a company who have staff regularly patrolling the area to ensure that all residents remain safe. Plus in many cases they will have a gated entrance, which is manned constantly.

The second reason for buying Palm Beach Gardens golf course homes is that yes you have an opportunity to become a member of the club, and once you are accepted you will have access to a number of other amenities that are to be found in the clubhouse. So you will have not only access to its bar and restaurant but any other facilities such as saunas and a fitness room.

Jupiter Condos Offer the Best of Florida Living

Why would anyone wish to move to Jupiter and buy lovely Jupiter condos from a Jupiter Florida Real Estate business?

The answer to this is quite simple. Who would not want to enjoy a relaxed lifestyle at a quiet beach location? The weather is so settled, and there is an abundance of sunshine all year round. The beaches are beautifully maintained and seldom too overcrowded. Many people enjoy purchasing Jupiter condos that are within walking distance to the coastline.

But for those people who enjoy a bit of sport, Jupiter also has well maintained international golf courses, as part of its recreational facilities. For those golfing enthusiasts, it is possible to purchase Jupiter Florida real estate quite close to the golf facilities.

And if that is not enough, Jupiter Florida is an excellent city for those people who simply wish to meander around the shopping malls, and art galleries and museums. One venue in particular, is the Burt Reynolds and Friends Museum. This provides opportunities for promising actors and filmmakers to gain some firsthand training from some of the experts in the industry. This of course is a huge attraction for Jupiter and can place a high demand on Jupiter Florida real estate from time to time.

For those nature lovers who enjoy wildlife sanctuaries, there is one in Jupiter called the Busch Wildlife Sanctuary. Located in the Loxahatchee River District, this popular haven is dedicated to the protection and conservation of the wildlife found in the area.

Whilst this property caters to wildlife, the magnificent Jupiter condos found in the neighbouring districts cater to discerning purchasers of quality real estate. Waterfront properties are available also, at places like Admirals Cove, and Sailfish point. These are luxury homes. Their popularity is evidenced by the high numbers of people choosing to make Jupiter Florida their home.

Palm Beach Condos and the Affluent Florida City They are Found In

When we have the exhilarating experience of flying into Palm Beach Florida, the view is quite spectacular. The beach and coast line stands out so prominently, as do the tree lined streets. As we get closer to land, it is easy to notice the Palm Beach condos along the beachfront and to begin considering the experience of living in such an affluent city.

Many people enjoy a very relaxed lifestyle in Palm Beach Florida, and enjoy the climate that is recorded to have an average temperature of 80 degrees Fahrenheit. As well as the climate, many people choosing to relocate to the area and purchase Palm Beach real estate, do so because of the very pleasant coast line, the bustling shopping malls, interesting museums, very enjoyable wining and dining, and when some sports and activity are preferred, there is a selection of golf, tennis and water sports.

Purchasing Palm Beach real estate is also very popular because parents want their children to enjoy the high quality of education which is offered here. Classes are small enough for individual attention and the school attracts quality staff due to the high per capita income for the area.

For those people who enjoy live entertainment opportunities, they will find numerous events in Palm Beach Florida. Palm Beach condos provide the ideal lifestyle for people who want an easy and relaxed lifestyle where they can simply enjoy the benefits of living in a town that offers lots of quality entertainment throughout the year at local festivals, the Kravis Center and other city venues.

All Palm Beach condos and townhouses are linked with a well established bus network, and the city also has an International airport which enables people from all around the world to discover the area. It does not take long to realize why Palm Beach Florida is such a sought after location.

Jupiter Real Estate Offers Fun in the Sun

We would all treasure the possibility to own our residences. For the majority of us the goal does eventually become a reality. In fact investing in real estate proves to be surprisingly beneficial to you in the long run. So what makes investing in Jupiter real estate the best choice?

The first of many reasons for us recommending you buy Jupiter real estate happens to be that it furnishes you an extremely relaxed and classy lifestyle in what some would call a tropical paradise. Plus of course the properties found here are located close to some of the globe’s finest sports facilities including some remarkable golf courses.

Additionally this picturesque city is located a short distance from the shimmering waters of the Atlantic ocean as well as a variety of waterways such as the Loxahatchee River and Intracoastal Waterway. So you have the opportunity to merely relax on the beach front from your Jupiter waterfront properties or you can head out for the day and spend your time trying a mixture of different outdoor recreational activities like paddle-boarding, fishing, and snorkeling.