The answer to your question is up to you. Most importantly, which do you prefer? For my primary home I like the yard of a single family. For visiting, I like condos. Less work, lower maintenance, and more likely to have neighbors watching it.
How often do you plan to use it? The more you are going to use a home here in the states, the closer to a single family home you get. Do you want to maintain it? If you don't like gardening, the HOA at a condo complex will normally do this.
If you don't like condo's don't get one. If you don't want the hassle of a yard, look for a condo.
CDM is a unique market in that you might find a house split into two halves and listed as a condo. This could be the ideal way to enter the market. A hybrid solution if you will.
Right now is a great time to buy in Orange County, so either way just getting a foot in the market will be a great start. It is easier to trade up or down once you are in.
I have clients in Australia that love using the Listing Book service, they're looking for investment property that they'll move into when they're ready. They're choosing a home in a "vacation" type area & are going to increase their rental return by about 40% over what other 1yr rentals are going for as they rent it out to others as a vacation rental!
Shoot me an email directly if you want to talk about this some more or you need some help setting up your search, I don't look back on this same Trulia thread for answers posted after mine.
Realtor Since 1996
Main Street Realtors
Short Sale Expert -
Incase you were wondering why Home Shoppers should BUY HOMES in the West Indies here is the
Information from: A Real Estate Professional to Buyer's/Homeowners
Here are all the PERFECT reason to BUY in St. Maarten (DWI of FWI)
Q: Do you have to be a resident, or do you need to obtain a special permit to purchase property in St. Maarten ? A: NO. Anyone can purchase property on either side of the island. There are no special laws or requirments that apply to foreigners who own property on St. Maarten / St. Martin.
Q: What kind of deed will I get ? A: There are three types of deeds in St. Maarten:
1. Fee Simple
2. Government Long Lease
3. Private Long Lease
All deeds are transferred at an appointed notary, and registered at the Kadaster Office (island registry)
Q: What is the normal closing procedure, and do I need a lawyer? A: Title is transferred through the office of an appointed notary. All notaries on island are of legal backgrounds and are appointed by the Queen of Holland. They serve as a neutral party between buyer and seller. The notary is also responsible for making sure title is transferred free and clear.
It is not necessary to hire an attorney for closing, and there is no need for Title Insurance either!
Closing cost is approximately 5% on the Dutch side and between 9 and 11% on the French Side.
Q: Do I have to be on island for the closing? A: No you can assign power of attorney for someone to sign on you behalf, this applies to both buyer and seller.
Q: Do I have to buy the property in my name? A: On the Dutch side it is possible to purchase property in the name of a local corporation, or an offshore corporation.
Q: How long does it take for a closing to happen? A: If bank financing is involved it could take between 4 â€“ 6 weeks, otherwise in most cases closings can take place within a week or two.
Q: What about taxes ? A: On the Dutch side you are only subject to closing costs, which include all transfer fees, title search, and legal fees. THERE ARE NO ANNUAL PROPERTY TAXES, AND NO CAPITAL GAINS TAXES!!! However if you are using your property for rental purposes you are subject to income and profit tax.
On the French side there are annual taxes and capital gains taxes.
Q: Is financing available ? A: Yes, most banks on island will offer financing to foreigners. Typically they will finance between 50 to 65% of the market value.
Q: Can I get Hurricane Insurance ? A: Yes, you can get full coverage. A typical policy that covers you in almost every circumstance will cost you between 1 â€“ 2 % of reconstruction cost.
Q: Can I rent my property when I am not using it? A: Yes, there is a good market for vacation rentals. Most rentals range from about $1,000 a week to well over $10,000 per week. The peak season for rentals is between December 15 to April 15. Sometimes its possible to purchase a property which already has a track record of rental history.
I stand by what I say
- "Leaving No Family Behind "
Ignacio Stapleton, CDPEÂ©
It sounds from your question that you would not be using the property very often so a home or condo that has low maintenance and in the best location makes most sense.
Properties along with financing are at an all time low so in my opionion a good time to make an investment.
Currently, we have a shortage of rental properties so I would recommend using it as a rental for times that you are not in the country.
If you are interested in more information please feel free to visit my website or contact me;
Thank you and good luck!
Surterre Properties, Inc.
The amount of time you will spend there when you come.
Do you want to rent it out when your not here
Would a security building be best if it is going to sit vacant for extended periods of time.
What sort of amenities am I looking or do I want to be at the beach
What is the dollar amount I am looking to spend.
There are several secure buildings that might work well for a vacation spot and also a part time rental property in the area of Newport Beach, and Irvine next to Back Bay. The one building in Irvine that comes to mind is The Plaza in Irvine. Here is a rental property that you can look at to get an idea of what it is like. If I can give you a hand my contact information is on the webpage for the property. Go to http://www.5058scholarship.epropertysites.com
Drop me an email if your interested in more information, I'd be glad to assist you any way I can.
Rafael Porter | 626.244.7559 | firstname.lastname@example.org
Depends on your life style....if you are very active when you come here and don't want to spend your time doing maintenance, a condo or townhouse will be the ticket....however, if you are going to entertain friends and family, a home is better and larger....I offer property management services to many people who live outside the area so that when they come here, they can relax and enjoy....peaceful enjoyment is the reward of owning a vacation home.
Linda M. Lukas
Are you a musician...great initials!
Your question is rather open ended.
So sometime the answer is in the question:
Do you want a seaside cottage, a mountain retreat, to be near friends or family, to be in the country. Are you interested in the proximity of theaters, restaurants, or leisure activities?
The there is always the price range...and location determines that to a large degree. Upscale living, a fixer so you get a good deal, or are you a cash buyer or will a loan be a part of the equation? Also do you want more of an investment vacation home that you can rent out when you are not there and make it contribute to the costs?
If you are looking in ORange COunty which has miles of beach and price ranges with great variances...a more detailed question would be helpful in narrowing your search and saving you lots of time and energy.
Also condo or home is a great question. A condo will be maintained on the outside for a monthly HOA fee which limits your efforts in maintenance. A home allows you to do as you will with the property.
When do you want to purchase?
Please feel to contact me with more specifics and I can set you up with daily or weekly properties to view and consider.
Valerie J. O'Brien
Keller Williams Newport Estates
There is a large number of options in the Corona del Mar/Newport Beach area many of which are ideal for someone that is looking for a vacation home. These homes will vary significantly in terms of location, proximity to the ocean, price, and amenities.
If you would like to e-mail me some information on the type of property you are looking for I would be happy to e-mail you back with some properties in the area that match up with what you are looking for.
Engel & VÃ¶lkers