Clearwater Condos For Sale

Condo Living Is A Great Way To Save Time and Money

November 17, 2021 By Deborah Ward

You want to buy your next home, but you’re not sure if you should buy a single family home or a condo. Both have plusses and minuses, but in the big picture condo living is a great way to save time and money.

Let’s start with time

How much time do you spend on the maintenance of your home? Yard work, mowing the grass, cleaning the exterior of your home, maintenance of the pool or spa, maintenance of the walkways and driveway all takes time from your day.

If you live in a condo, the association has the responsibility of maintenance of the grounds and exterior of the building. Of course saving money happens here too. If you pay a company to care for your yard, another to care for your pool or spa and another to clean the roof and exterior, those costs aren’t a factor in a condo.

Saving money on purchase

A condo is cheaper to purchase than a comparable single family home. There could be a lot of reasons for this. When you buy a single family home, you’re buying the home and the land that it’s sitting on.

When you buy a condo you are purchasing the unit, not the land or building. It makes a difference in pricing. So that means that a 1500 square foot, three bedroom condo is much less than a 1500 square foot three bedroom home. Yes there are things like condo association dues and assessments, but it’s still generally the costs of ownership are lower.

Another time and money saver

The amenities. How much do you pay now for things like a gym membership, a community or private pool membership or golf club membership? Well, if your condo has one or more of these amenities, you can stop paying those extra membership fees. Oh, and the travel time is a thing of the past too! Walk out your door and to your destination. No driving or parking.

What are the Top Clearwater Beach Hotspots for Condos?

October 27, 2021 By Deborah Ward

If you want a condo, Clearwater has some of the best. So what are the Clearwater Beach hotspots for condos? Here are two of the best: The Residences at Sandpearl and Clearwater Point.

The Residences at Sandpearl are found at 11 Baymont Street in Clearwater Beach. A gorgeous neighborhood with views that are to die for. You have a choice of two stunning water views either views of the Intracoastal Waterway or Gulf front views. Condos range from 2 bedroom 2 bath units to 3 bedroom 3.5 bath units. The 3 bedroom units are over 2,600 square feet. Prices range from $769,000 for the smaller units to $2.3 million for the larger ones. No matter the size each unit has amazing amenities. Updated and high end finishes are the norm for these units, and even the smaller units feel spacious. The community also has resort style living that includes a concierge, 24 hour security, pool and spa, outdoor cabanas, social room, boardroom, fitness with steam and sauna.

Clearwater Point actually encompasses several buildings located at the southern tip of Clearwater Beach. The community also covers all kinds of lifestyles, from buildings that are restricted to 55+ to others that welcome singles and families alike. You can find a place that fits your life no matter where you are in it, from single to newly married to young family to empty nester! The buildings vary as well from mid rise to three story buildings. Units can be water view, but some aren’t. Those with water views range from Intracoastal Waterway views, bay views and others that overlook the community’s private beach. Prices for units here range from $200,000 to $400,000 and the units are 2 bedroom and 2 bath. Different buildings have different prices. Community amenities include 3 pools, a hot tub, grills, a tennis court and that private beach. No need to deal with traffic to go to the beach with everyone else!

Why There Are Fewer Condo Developments Going Up

October 27, 2021 By Deborah Ward

The housing market has rebounded, even to the point that builders are getting busy again. What they aren’t building as many of these days, though, is condo developments. Builders now are opting for single family homes or rental apartments.

Condos were more lucrative, so why is it that fewer are being built?

Tougher rules on condo mortgages

One of the biggest reasons is that after the housing bubble burst, there are new tougher rules on condo mortgages.

Couple that with a stronger demand for rentals and lower demand for buying over renting, condos aren’t in demand. It leaves builders in a bind, because condos can be priced more flexibly and are more responsible to market fluctuations than rental units are.

In a strong market builders can sell out of condos even raise prices as they sell, faster than it would take to lease all of the units if it was a rental.

First time home buyers

Condos also help builders pay down their debt faster as they can pay lump sums at each closing. Unfortunately for the builders, the younger, first time home buyers that comprise the majority of home buyers, condos aren’t their biggest choice anymore.

As stated above, another big reason for that is the fact that the Federal Housing Administration, which backs mortgages made to low-wealth buyers, made it much harder for people to get mortgages from 2008 to 2012 for condos.

Under the new rules, at least half of the units have to be owner occupied and no more than half can be mortgaged with an FHA mortgage in order for the FHA to insure a mortgage for a condo unit. If they are under construction, at least 30% of the units have to be under contract before the FHA will even start issuing mortgages there. That makes it exceedingly difficult for first time buyers to buy a condo.

Why go through the hassle of looking, deciding and then being turned down when you can get a single family home.`

All of those factors have meant that builders aren’t bothering to build condos anymore. Can you blame them?

Is A Condo The Right Choice For Me?

October 27, 2021 By Deborah Ward

You’ve decided to buy your own home. Your Realtor has asked you if you’d be interested in looking at condos. So, is a condo the right choice for you?

Can be a great choice

A condominium, or condo for short, can be a great choice for certain people. If you are single, newly married, or retired, a condo may be a good choice. The reasons are many. A condo is a form of home ownership in which the individual owns their unit, everything from the four walls and in, but not the outside parts or the ground the unit sits on. Those areas, known as common areas, are owned by all of the individual unit owners collectively. These are things like hallways, walkways, pools, and so on.

Association of owners

The maintenance of these areas is the responsibility of an association which includes every unit owner. That membership includes an obligation to pay monthly dues and any special assessment fees for larger maintenance issues, like a new roof or painting all the buildings. Typically, the association hires contractors to do the actual maintenance, so individual owners don’t have to do the grass cutting, pool cleaning and so on.

So, is it for you?

Maybe so. Condos can be more cost effective for people buying their first home or for people who are retiring and downsizing. Condos tend to cost less to purchase, so a mortgage payment is lower. You aren’t paying for what it costs to have a pool. You aren’t paying extra for a gym membership. With fewer maintenance requirements, that helps costs as well. There is no need to buy lawn equipment, no need for pool supplies, no need for whatever things usually purchased by homeowners to care for their homes. There is also the time savings. No lawns to mow, no gardens to weed, no pools to vacuum.

There are also the social benefits

Since you share common areas, socializing is easier to do. As with an apartment building, neighbors are in close proximity, for good and bad.

So is it for you? Go see one and find out.

Buying a Waterfront Condo – Things to Consider

October 27, 2021 By Deborah Ward

If you’re thinking of buying a waterfront condo, there is a lot to consider. First, is the waterfront life for you and second, is a condo right for you. Here are some things you might want to keep in mind.

Waterfront living can be great. Great breezes that keep you cool and keep bugs away. An environment that is clean and encourages a healthy lifestyle. Beaches to walk run or swim on. And let’s not forget that resale values of properties are good, since properties are in high demand. If you decide to move inland, they make great investment properties to rent. There are drawbacks. Those same resale values mean buying is more expensive.

Insuring your property will be expensive because of the possibility of natural phenomenon that can damage your property. Maintenance costs are more expensive because of corrosive salt or wet air. And then there are seasonal crowds. You have to decide if the payoffs overshadow the problems.

What is great about condo living is that you don’t have the responsibility to take care of things like lawns or outside maintenance on the roof, sidewalks and so forth since you own just your unit. Many condo developments have great amenities like pools, gyms and clubhouses. Condo owners have access to these as part of their ownership. Again, it’s without the need to personally maintain them. Other positives include good resale value, but a lower purchase price and higher rental income.

With the good comes the bad. Condo associations have rules. They generally cover maintenance of common areas, but also deal with what you can and can’t do. If you like to fix up old cars, most condo associations won’t let you do it in their lots! Some won’t allow holiday decorations on the outside of your condo, or even pets. Often there are rules about noise and other nuisance things to keep neighbors from fighting. Condo fees for maintenance can also be a con, because if a big expense comes up, you are required to pony up your share. You can’t decide to put it off as you would be able to do with a single family home.

Deciding if waterfront condo living is for you has its pros and cons, but buying a waterfront condo could be just what you are looking for.

High End Real Estate – The Three Most Expensive Condo Complexes on Clearwater Beach

October 27, 2021 By Deborah Ward

Clearwater Beach has some of the best, and most expensive, condo complexes in the Tampa area. If you want the amenities and prestige of owning some of the best high end real estate, the Clearwater Beach area is where you should be looking. Here is an example with 3 of the more expensive ones.

The Condos at Sandpearl: This community has amazing amenities and views. Situated on the Gulf of Mexico, the views will take your breath away. The community has a concierge, a pool and spa with cabanas, a community room and board room for owner’s use, a fitness center, 24 hour security, steam room and sauna. Units are high end and luxurious. Most are 3 bedrooms and 3.5 baths and spacious. They have gourmet kitchens, open concept living areas, terraces and extras like a wine cellar and marble floors. Bedrooms have custom touches like built in storage and custom wall units.

Condos at 1350 Gulf Boulevard: This community has over 60 feet of direct gulf front balcony space of the Intracoastal on Sand Key. The bedrooms of each unit have views overlooking the water and a double master suite with his and her full private baths and walk in closets. As if that wasn’t enough to convince you, each unit also has a large kitchen, bar area, family room and formal dining/living rooms. Need more? How about 4 bedrooms besides the master and stunning baths. Community amenities include a fitness center, clubhouse, meeting room, heated pool, spa and more.

The Grande at Sand Key: One of the more important parts of being one of the most expensive condo communities is water views and The Grande doesn’t disappoint with amazing Gulf and coastline views. Units are 5,150 square feet of luxury, and over 800 square feet of outdoor terrace. Each unit is well appointed with travertine flooring, volume ceilings, granite counter-tops, California closets, open floor plans with multiple living areas, three master suites and a private access elevator with a private two car garage. Community amenities include a 24-hour manned gatehouse entry, private beach access, heated beach pool and cabanas overlooking the Gulf, an outdoor spa and heated lap pool, gas grills, fitness center complete with steam room and sauna, two har-tru tennis courts and on-site concierge services.

Tougher rules on condo mortgages

First time home buyers

Can be a great choice

Association of owners

So, is it for you?

There are also the social benefits

The Deb Ward Team