WANT US TO TELL YOU HOW MUCH YOUR HOME OR CONDO IS WORTH?
We can’t. The current market dictates the sales prices. What we can tell you is that there are a lot of first time buyers out there right now taking advantage of the still-low interest rates. And the baby-boomer generation, the second largest, is down-sizing and buying second “homes” (condos). This is a great time sell BUT always remember that the best time to sell is when you want to live somewhere else. Do not let the market of the day tell you otherwise. At A Team Florida, our motto is “Love Where You Live”. Money cannot dictate that. There is no reason to move is you are happy where you are.
What we CAN tell you is everything you need to know about how to get the most money out of your home or condo if you are ready to sell. We know Hillcrest condos inside and out. We know what the main issues are when it comes to repairs and we can take care of them before we list. However, every home in Hollywood is just a little bit different which is why we pay for an inspection before we put a home on the market so we can prevent the buyer’s inspection from killing the deal.
When you are ready to interview Realtors for the job of selling your home or condo, call us.
Renting vs. Buying – The Eternal Real Estate Debate
Owning a home has always been a major part of the American Dream. Just a generation ago, making the final payment of a 30-year mortgage was one of the biggest achievements of adulthood. People put down roots and lived in essentially the same town for their whole life. Today, things are a little different. People move more frequently and over larger distances. In fact, studies show that the average person now moves every 7 years. Younger demographics are also more likely to rent their home for many reasons. Whatever your reason, renting or buying might be best for you. Below are some of the advantages of each!
The Benefits of Renting
The flexibility that comes from renting a home or condo is obvious. Renters are in a better position to simply pick up and move if an opportunity comes along in a different city. Newcomers who have just relocated to a new area will also find renting first a good idea as they learn about their new community.
The no-maintenance lifestyle is appealing for renters. The landlord is typically responsible for maintenance, upkeep, and repairs. For some, removing these concerns is worth the inability to paint a wall blue or build an outdoor kitchen.
The biggest mistake renters make is not having a game plan to be in a position to buy and start paying their own mortgage rather than their landlord’s.
When to stop renting
Renters still make up for 36% of property dwellers and the average rate for a rental right now is $1,617.00. It only makes sense to buy if you plan on staying in the home/condo for at least 3-5 years or more. South Florida tends to beat the national average of rising equity which is about 4.9% year after year vs. our rate of 6.3%. What is going on right now with the rise in single family home prices is an aberration. Home prices have risen too high too fast so we are looking for a correction. When that happens, you need to be ready to buy. Condos are still affordable and will benefit from single-family homes being priced out of reach for many buyers. Buying a condo now is a wise move. Buying SOMETHING right now is better than paying rent.