Simplifying Life With a Condo in Coral Gables, Coconut Grove or Brickell
“Should I downsize to a condominium?”If you are asking yourself this question, you are not alone. My friends have been asking this question often lately. As our kids grow and leave the nest, our houses start to feel too big. This is especially true in Pinecrest and Coral Gables, where the average size house is somewhere around 5000 square feet and the lot hovers around an acre. It’s a lot to take care of for 2 people. There is an obvious simplicity and convenience of living in a condo. Understanding the differences between ownership of condos and single family homes might help you make the right decision. I’ve put together a few thoughts on the differences.
Shared vs Sole Ownership?
The most essential difference between condo and single family home ownership is in what you own. A condo owner owns the rights to the space between the walls, floor and ceiling of the unit.
Everything else is owned collectively by all the owners. Each owner has significant limitations on what she can do with and in the common areas. Bylaws are established which set the rules and allow for the management of the overall property. By-laws are typically far-reaching and cover common area use, restrictions on interior renovations, noise, pets and so on. Condo boards make the decisions. By contrast, the single family homeowner owns the rights to the land and improvements (the house itself).
Higher Fees or Self Maintenance?
Condos come with associations, and their fees seem generally higher than what a costs for single family home. Although oftentimes when you put the yearly costs of your homes’ maintenance next to the costs of your condo fees, you might be surprised how close they actually are. The condos fees typically include all your maintenance, security, and all insurance costs except the interiors of your unit.
Community or Privacy?
Many people find the sense of community that comes with the close proximity of other residents of condo ownership appealing. In addition, the amenities on the property such as swimming pools, tennis courts, workout rooms, etc make life simpler.
Here are some of the most popular buildings at the moment that my friends seem to be interested in. Just click the building name below to visit the particular building.
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- Deering Bay
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- Gables Club
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- Grove Isle
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- Grovenor House
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- Santa Maria
Of course, if you are interested in seeing any of the units, just give us a call or send us an e-mail. Consultation is always free, and there is never any sales pressure.
We are ready to use our knowledge, skills and dedication to help you, or anyone you refer to us, with what could be the biggest investment of your life.
