John,

There are advantages and disadvantages to each type of property. Our best advice is to visit a few of each option. Your decision should become clearer.

It comes down to an individuals personal preference.

Good luck

Hi John,

To add to Mott's answer...

We have worked with many people over the years in your situation. Often times customers come from foreign countries looking for a vacation home which they will use for retirement later. They almost always seek out a condo as opposed to a home because they feel the property will be more secure should they leave it vacant. For instance, if you have a leak in your home and it's vacant you might not be aware for sometime. However, if there is a leak in the condo, the management will notify you immediately. Of course a vacant home is more often an easier target for theft/vandalism as opposed to a vacant condo (no one may even realize it's vacant besides the management). The maint. fees will vary depending on the size of the unit and the amenities of the building.

Right now the condo market is very soft, there are plenty of properties from which to choose and in newer buildings the developers are giving lots of incentives. The chances are you will get a much better deal on a condo as opposed to a single family home. The trick will be getting financing. Unless you are paying cash, you may have a difficult time getting a mortgage for a condo in Florida. The key is to make sure that the building financials are good. I suggest speaking with the condo association before making an offer on any unit to make sure that no more than 15% of the unit owners are not in default on their maint. payments.

South Florida is a beautiful place to live and I'm sure you'll enjoy it here! Our company also offers Property Management Services should you decide to buy and rent out the unit. Feel free to contact me for more assistance!

John;

The choice depends on your lifestyle. Historically, single family homes have maintained value better than condominiums. But, every situation is unique. Condos are vertical - for the most part and in a typical condo there are 250-300 individual apartments. The competition when it comes to selling a condo is usually very high; 10% , more or less are always on the resale market.

Single family homes are more unique- less competition and fewer options, eg. higher floor, better view, etc.

So, depending on your lifestyle and desires... Oceanfront, Waterfront, Golfcourse...

Condominium aprtments on the ocean are much easier to lease out for annual or vacation tenancies.

Homes and condos will be taxed at the same rate (more or less). Homes have maintence costs too, perhaps not on a monthly fixed basis, but certainly a plumbing, eletrical, structural, roof, lawn all these things will eventually be paid for to repair or maintain. Very often the cost to maintain a home vs. a condo is higher.

We have several options in the area- some are currently under long term lease and other vacant and ready to occupy.