Florida Economic Development

Florida Condos

Florida Condos.

Florida as the Sunshine State has become one of the great vacation home locations in the World. So when prices rocketed a few years ago land became expensive and developers decided to get the highest and best use of their investment land. The best way to do this was to build and develop the now famous “ Florida condo”

A “Condo” is the short for “condominium” and also can be referred to as an apartment which is a more common description World wide. The Florida Condo is generally quite large and some of them are as big as a good size house. The developers were able to get a higher density of condos to the acre and this is paramount in built up urban areas where land is scarce and expensive and location and return is the prime requirement.

Florida is that prime location for condos and no better location than overlooking some picturesque beach overlooking the Atlantic or the Gulf of Mexico . Imagine the view from a Florida condo over the sea at Sunrise or Sunset? Also another great location for your Florida condo is close to Disney and Magic Kingdom where tourist traffic is high and rental demand is good. We have some super well built condos where you can get 2/3/4/5 bed condos in Orlando , so size is not a problem.

To go back to our friends the Developers who discovered that developing condos was giving them a better return on their investment in land at good locations. They continued to keep on building condos in the boom years well after it became apparent that the market was saturated with both houses and condos. This was not just in Florida but in numerous other cities like New York , Chicago , Las Vegas , and many others. Then of course the economic crises set in and the market slowed to a halt over the last two years.

The good news on Florida condos is that with the downturn in the economy developers are selling off their condo inventory at greatly reduced prices! And unlike New York and Chicago in Florida they have learned from their mistakes and developers have not only reduced prices but are also giving other incentives like reduced closing costs and indeed in one location you can obtain a “green card” if you invest in their Florida condo development. This developer is in Orlando in Lake Buena Vista and if you are interested we can get the details of this new marketing venture for you, just contact us via this web site.

The pros and cons of buying a condo instead of a house or villa? Well we find that some people just prefer a condo for their own personal reasons; however there are serious issues to be considered when comparing a condo versus a house. These issues are as follows:

Property tax, maintenance, management, rental, location.

Property tax will most likely be lower than the house or villa as the condo is one of a block or building and will be valued for tax as a unit of the building.

Maintenance will be lower than a house again as it is a unit of a number in the building and all the other condos are making equal contributions to the maintenance costs it will be more economic than a house. Also it is easier for the maintenance crews due to proximity.

Management is a lot less expensive for a condo than with a house as the house will have external maintenance such as lawn and in most cases in Florida a pool to manage and maintain. The condo is more compact and management like the maintenance crews will have a number of condos within that location and travel will not be involved so time and cost is minimum.

Rental is much the same as with houses except that condos are generally closer to the attractions or the beach as developers will have utilized the prime location of the development for condos. The location of these condos mean that they rent well and in some cases is run on a night by night basis like a hotel.

Location as stated above the condo in Florida are given prime location in the development close to the Club House and all the amenities such as Gymnasium and community pool. In high density urban areas Florida condos are usually close to the Theme Park or the Disney resort or Golf club or beach therefore of high interest to those who may not have transportation.

Condos in Florida in conclusion are well located and of a very good quality. There is a variety of plans and sizes and due to the current market and the economy there are great Florida condos going for very reasonable prices in high profile locations. Please see a sample picture below and contact us with any questions you might have .

About the Author

Justin Trapp is a licensed Real Estate Broker and Realtor with extensive experience in the Florida Property Market. For more details visit http://www.florida-property-direct.com/

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