Luxury condos are popular in many big cities but they’re even more sought-after for waterfront living. Let’s look at 9 tips for buying your first waterfront condo.
1. Work with a Realtor Who Knows Waterfront Property
Waterfront property has some unique features and not every Realtor is familiar with those details. By choosing an agent who understands the market you’ll know they can help you find the best home for your needs.
2. Choose a Condo That’s a Perfect Fit for Your Lifestyle
There’s more to a waterfront condo than a nice view and easy access to the water. You need to make sure the property you’re considering will suit your lifestyle.
For example, if you’re an empty-nester or retired, you may not want to live in a family-oriented property, or vice-versa. Choosing a community that suits your lifestyle will make your waterfront home even more enjoyable.
3. Check for Restrictions and Regulations
Before you buy a waterfront condo, check into the rules and regulations that govern what you can and cannot do. If you’re in the market for an investment property for rental income, for example, make sure that type of use is allowed.
Knowing these things isn’t only for your own sake though. It will also make you more comfortable knowing that you won’t have to deal with any unexpected surprises once you’re in your new home.
4. Get the Lay-of-the-Land from Your Future Neighbors
One of the best ways to get a feel for the community and lifestyle of a condo property is to speak to some of the current residents. They’ll be able to give you a first-hand look at what the community is like so you’ll know it suits you.
Plus, this is a great way to meet some of your new neighbors!
5. Look for a Community that Fits Your Lifestyle
It’s not only the property itself that should suit your lifestyle, but it’s also the surrounding area. Find out what kind of events and activities are popular in the area to you’ll know there’s lots to keep you busy and entertained.
For example, Bradenton has a weekly Farmers’ Market, summer beach runs, local breweries, free weekly concerts, and plenty of other activities to keep you busy.
6. Work with a Good Insurance Agent
Insurance costs can be higher for waterfront homes due to the extra exposure that comes with living near the water. The insurance coverage you had for your previous home might not be ideal so speak to an insurance agent about their recommended types of insurance policies.
7. Check into the Home Owners’ Association
Many condos have a homeowners’ association (HOA) that looks after maintenance, security, and other services for you. There may be a monthly or annual fee for those services and those should be part of your budget for the condo purchase.
8. All the Great Side-Effects of Buying a Waterfront Condo
When you buy a waterfront condo, you’re buying more than just the building and the land it’s on. You’re also buying a waterfront view, easy access to the water, and various other lifestyle features that can’t always be measured. It’s hard to put a price on all these benefits of living near the water.
9. Find Out What Amenities and Services are Included
Find out what amenities and services are included with the condo and whether there are additional fees, whether HOA fees or otherwise, for their use. These can include things like:
- Common areas for the use of residents
Buying a Waterfront Condo in Bradenton
Bradenton is a beautiful coastal city on the Gulf Coast of Florida that offers activities and events for all ages. Palma Sola is a luxury condo community offering over 20 miles of gorgeous waterfront. Take a look at our move-in ready residences to see what’s available today.