Hi should I buy a condo or house in Miami Beach between 1m-5m because Miami Beach's condo HOA FEES are alot and taxes to, which will be cheaper ?

Asked by John, Miami Beach, FL Mon Nov 26, 2012

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Margarita E.…, Agent, Sunny Isles Beach, FL
Mon Nov 26, 2012
You must be joking - right?
3 votes
Amira Curch, , Sarasota, FL
Sat Aug 31, 2013
It depends on your life style and needs.
1 vote
Nadine Mauro, Agent, Lake Worth, FL
Tue Nov 27, 2012
Hi John

It all depends on what you will feel most comfortable living in. Are you used to living in a house or a condo? Ultimately you should buy a home or a condo because the property feels "like home". No matter what you buy, a house is a house until you make it a home.

The other agents addressed the issues of cost of owning a home and a condo.

If I can be of further service please contact me directly and I'll be glad to help.

Nadine Mauro
Highlight Realty
1 vote
Steven Epste…, Agent, Coral Gables, FL
Mon Nov 26, 2012
The choice will ultimatley be yours and is yours and Lifestyle dependent. Condo, Lock & Leave, maintenance is shared and managed with & by others.
A Single Family Home: 1) RE Taxes are no different than the same value condo, however insurance (which is included in Condo Mtce Fee and many times the utlities are as well) the maintenance, repairs and replacements, required updates & upgrades AND all the utilities, are all on you.
As a rule a Signel Family Home will always appreciate greater than a condo and if the market depreciates, condos depreciate more & faster than a single family home.
Ultimately as I said, its all about lifestyle desired and that's entirely you ... go with your "gut" and when you want to discuss this further send me your name, email address & phone numbers we'll talk in normal business hours. Best Regards, Steve E
1 vote
Naomi Preston, Agent, Miami, FL
Mon Nov 26, 2012
Hi John,

It's purely up to you. The amenities and full service luxuries that come with condo's are worth the association fees for some. I say check out both condos and homes. The amenities differ from building to building. The views, the floorplans, the added security. Some high end building have amazing design and some are absolute duds. If you aren't working with an agent, please contact me at your convienance. Single Family Hones and condos are completely different animals even in the high-end luxury market. The more you see of each the better.

I hope to hear from you!

1 vote
Richard A Ay…, , Bal Harbour, FL
Wed Dec 26, 2012
Hello John,

The best way to explain it is,

When you live in a Condo, every time you come home you need to go up sometimes several floors in parking, then get in the elevator and meet thousands of people that share that elevator with you. Not to mention how inconvenient it is when your hands are full. The nice thing about a condo is that you don't need to worry about a backyard or alarm systems or some other things that you do in a house. To me there is nothing better than park your car in front of the door to the house and be in your living room in less than 5 seconds. What you pay in HOA fees at the end of the day is going to be the same as the insurance, yard maint, alarm system, pool maint, and some luxury buildings also include cable,water and internet. I went through the same decision not long ago when I purchased my home and I will be more than happy to share my thoughts and experience with you.

Richard Aybar
Barclays Luxury Real Estate
0 votes
Cristina Zie…, Agent, Miami, FL
Tue Nov 27, 2012
Hi John,
This is a joke!!!! I believe you meant 10,000-50,000,??
0 votes
Rosie Morot-…, Agent, Miami, FL
Tue Nov 27, 2012
Hello John,

It really depends on your lifestyle. Are you planning to live there or occupy the property only on vacations ? Some like condo living some don't check out both and decide whatever feels best for you.

Best regards,
Rosie Morot-Gaudry
Realty World Center
305 586 2305
0 votes
G, Home Buyer, Miami, FL
Tue Nov 27, 2012
You'll still pay taxes, so that isn't something you'll save on.

Insurance is rolled into you HOA fees, whereas with a house you'll have to pay them separately.

Overall a house isn't a money saver when compared to a condo.

Either way, what you should or shouldn't do will depend on you. And any answer you get here will be very general at best.

Best of luck,
Gene Kromo / gene@kromo.com / 305-606-7534
Global Luxury Realty
0 votes
Paul Heller, , Hollywood, FL
Mon Nov 26, 2012
I forgot to add that there are some condos that are just as spacious as single family homes, say 3000 square feet with all the amenities you could imagine. Miami has amazingly designed floor plans and views to die for. But if you like your own backyard with a glorious bay view, then I can find you these magnificent homes. The choice is yours. Call me 954-5596411. I will send you a search for both type properties. Then you can decide what is right fr you based on the options avalable
0 votes
Paul Heller, , Hollywood, FL
Mon Nov 26, 2012
There is no difference calculating property taxeswhether you purchase a house or condo. Are you looking for your own use or as an investment? Purchasing a house or condo is personal preference. Keep in mind that the general upkeep of a house is totally on your own, such as maintenance of a of pool or lawn . These items are a part of the condo maintenance fee worry free. But in a house you have less rules to deal with.
Contact me and let's discuss your actions in more detail.
Paul Heller
Prudential Florida Realty
0 votes
Tamika Moses, Agent, Pembroke Pines, FL
Mon Nov 26, 2012
Hi John,
with a home you will have the upkeep of the yard, pool if any etc. With a condo those fees cover all of these things but wind insurance is much higher and there are special assements that would come up and the likelyhood of maintence fees increasing if some unit owners do not pay to cover the maintence of the building. I would be more than happy to speak to you on the pros and cons of both so you can make a educated decision on your wants and needs. I look forward to hearing from you.

Thank you,
Tamika Moses
Keller Williams Realty Partners SW
0 votes
Nereida Figu…, Agent, Miami, FL
Mon Nov 26, 2012
Good Evening John. If you count what is better, It's about location and location too. If you want to be close to beach without worry about property insurances, the HOA condo's includes those costs. In reference the others costs no including like the special assessment them a single family. In the event you want more space like patio single family is good. Even those you buy a condo or single family taxes count almost in the same way due to location and amount or price you buy property. Single Family need maintenance and condo you paid in your HOA either way.

When you count special assessment (maybe) and count HOA (regular) them you can paid your property taxes.

If you need help, we can sit down and make numbers (concrete number) in what is better for your finantials
305 519-3199
0 votes
Anthony Khou…, Agent, Hallendale, FL
Mon Nov 26, 2012
Hi John
Always better to purchase a house,it saves hoa fees an ass rules an reg varey according to condo community's,
If I can help u in this so important choice for u an family,pl call me anytime
305 300 8540

0 votes
Victoria Mal…, Agent, Miami, FL
Mon Nov 26, 2012
Good question. Hoa fees covers a lot, basically owners pay for life style, use of amenities, parking, service of elevator, electricity in common areas, even exterior insurance and in many South FL condo there is a serve in case special assessments. With all said in a single family home you do,not have monthly maintenance, but then you manage your property yourself. So the decision is yours. You still need professional realtor who will search the right property for you and advise you in all process to determine YOUR home. Please contact me for further information by email mavita@msn.com or by phone (305) 335-7743. Victoria
0 votes
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