Price wise, condos are less expensive. Even when the monthly maintenance costs are considered they are usually less than the cost of providing the same services for a single family home. In most condo situation you will only pay for your electricity and cell phone. Most other living expenses are included in the monthly maintenance which can range from $150 monthly (inland) to $700 monthly (delux waterfront).
Of course, this type of property ownership places you in a compromised position should litigation occur within the organization or with an outside contractor. One condo community, due to a lien imposed by a roofing contractor, prevented the sale of ANY condos for over one year.Many are not receptive to the 'everybody's in your business' communal life style of a condo and eventually opt for a single family home. Fifty Five plus communities are no exception.
Financing can present a challenge, but others have found ways to meet the requirements of lenders.
There are so many differences in purchasing a single family home and a condo that two separate guides are required. If you would like my Florida Condo Buyers Guide just give me a call. It not only covers the mechanics of the structure but devotes a chapter to interpreting the all important financial disclosure documents of the association.
If you are a serious buyer you will need to call.
No, don't use that 'contact' button.
No, don't use Trulia email.
Go old school and pick up the phone, if you are serious.
Best of Seccuess to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor