Is the ocean calling your name?
If you’re ready to enjoy life by the sea, there’s nowhere more fun to live than Miami.
You can find a condo in Miami to set up your perfect beach pad, giving you easy access to the beach, restaurants, and entertainment.
But don’t get distracted by the glitz and glamor and make a purchase that you may regret— keep reading to learn the top questions to ask before buying a condo to help you make the right decision.
1. When Buying a Condo in Miami, Understand the Condo Fees
Prices for condos are more than just the purchase price. When you own a condo, you’re also responsible for regular HOA—homeowner’s association— fees.
All condo owners pay into the HOA, which goes to maintaining the public spaces, such as sidewalks, gym, swimming pool, and the cost of trash disposal, repairs, etc.
If you’re moving to Miami, many condos, with lush amenities like outdoor pools and large gyms, also have large fees.
2. Can I Have Pets?
Do you have a dog or cat, or hope to in the future? If so, always ask what the building’s pet policy is.
Even if you’re an owner, if the bylines state no pets, you won’t be able to have an animal in your unit. Make sure you completely understand the building’s policy on keeping pets before purchasing.
3. Can I Get Hurricane and Flood Insurance?
Living in Miami means an amazing beach lifestyle, but with the ocean comes the risk of hurricanes.
Unfortunately, Miami and many parts of Florida are in hurricane zones, with large storms not uncommon.
If you’re buying near the water, make sure you can get homeowner’s insurance to protect your property in case of flooding or hurricane damage.
Usually, the closer you are to the water, the higher premiums you pay for insurance. Before purchasing, get insurance quotes.
4. What Is the Parking Like for Visitors?
Your new Miami condo may come with a parking spot, but what about your guests? Check if the building has parking for visitors, as parking can be hard to come by in many parts of Miami.
Be familiar with how you can reserve the spots, any time limits, and how many are in the building. It’s no fun having a beachside pad if no one can come to visit!
5. Can I Rent My Condo if I Have to Move?
If you relocate for work, can you rent out your condo? For example, you moved cross-country, used a house buying company to sell your previous home, and now you’ve bought in Miami.
What if you need to move again? Some HOAs have restrictions on owners renting their unit, so check this before buying.
Find Your Perfect Condo Today
Ready to buy a condo in Miami? If so, you’re sure to fall in love with the beach lifestyle and eclectic atmosphere.
But before buying, make sure to use the tips above to ask the right questions and learn as much as you can about the condo before purchasing.
Even if a condo seems perfect, if it doesn’t meet your needs then you may regret buying.
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