Are you planning to relocate to Florida but wondering, “should I buy a house or condo in Florida”? Well, Florida has more property types to offer than just condos or single-family homes.
And to know for sure which real estate properties in Florida will be best suited for you or your family, you must know about the different property types to determine whether it meets with your specific requirements.
So, let’s check out the most popular types of residential properties available in Florida.
As the name states, single-family homes are traditional homes. This property type is believed to offer the highest appreciation over time and maximum rental income. Single-family homes are the most expensive property types in Florida along with customized luxury condos.
However, they too come with some downsides such as higher upkeep costs, higher price, more labor-intensive repairs, and maintenance, etc. But the numerous rewards that this property has to offer to make them one of the most sought-after property types not only in the Southwest Florida real estate market but also in the entire sunshine state.
According to the design of single-family houses, they are of two types, which are:
Uninterrupted privacy, complete ownership, good outdoor space, great ROI, higher desirability for renting makes single-family homes in Florida a perfect property type to live and raise your family.
Custom family homes are also a kind of single-family house. The only difference here is that they are made as per the requirements and specifications of the buyers. According to the Florida MLS search, a custom home costs a lot more than typical single-family homes.
In almost all the major areas of Florida, condominiums or condos are plentifully available. Compared to buying a house in Florida, condos are affordable and easier to upkeep.
People who wish to own a real estate property in Florida as a seasonal gateway, usually find condos beneficial. In popular areas like the beachfront or near downtowns condos are a more affordable choice than villas or single-family homes.
When buying a condo in a high rise that is located in a prime location in Florida, a buyer is basically paying friction to the actual property cost. Some of the common types of condominiums in Florida are:
In condominiums, every owner has their separate units and shares ownership of the common amenities and areas with other condo owners. Living in condos comes with following certain specific rules and conditions as created by the respected condo associations. Plus, most of the condo buildings come with a security system.
Townhouses, often referred to as low-rise condos, are types of houses where the single-family houses share one or more walls with other similar units. Sometimes in rows, the uniform homes or independently owned units of that a townhouse consists of are usually of two stories or even taller.
The best thing about townhouses is that just like condos, the maintenance and upkeeps of the exteriors are not your responsibility. Unlike apartments and condos where you get to live in one level, townhouses come with more than just one level at times.
For those who have more members in their families and want some privacy, multilevel townhouses can be a great choice. Compared to a single-family home, townhouses are less costly. But, like condos in a highrise, they do not offer stellar views, if they have other constructions around them.
Every person has their own criteria and budget that influence their decision of selecting a particular residential real estate property. To know for sure “is buying a condo in Florida a good investment” or purchasing a single-family house, opt for our professional guidance.
At 1st Source, we bring you the best real estate deals that fit your unique requirements and budget. Discussing both the pros and cons of each property type we help you select a house that you and your family can proudly call your home.
We Prioritize developing a bond of trust and reliability with our customers. To experience what finding your dream property feels like with the professionals, contact us today!