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Community Corner

To rent, or to buy? That is the question.

Who wouldn’t love to live in Florida? We have the beautiful beaches, fabulous weather and a friendly business climate and best of all, ZERO state income tax. Some come to vacation and leave telling themselves, ‘one day’. Others have simply never set foot in our beautiful state and relocate no questions asked. But when you arrive one of the biggest questions is, ‘where do I live’?

       It is no secret Florida was hit hard with a fall out of the real estate market years ago and has fought hard to try and regain momentum. But the upside is present and it’s a great time to buy and sell here in Florida. There are still great deals to be had and values are amazing on properties that would cost 3 times as much in different parts of the United States without the benefits of Florida.

       But do you buy or rent? Get a condo or house?  After sitting with the very friendly and helpful Darleen DePoalo, Managing Broker of Ameri-Tech Reality local to Clearwater, I gained some great insight to share about how to choose your living lifestyle.

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       There are several great upsides to buying she mentioned;  “the sense of home ownership goes a long way”. Nothing feels better than investing money in something you own. With the market how it is hopefully you end up with some great equity as well for future investments should you decide to sell. Being able to improve and customize to your liking is also very rewarding as you renovate and repair. But wait there is that word….repair.

       Darleen suggested that you set aside an average of 2% (1%-3%) of your homes purchase price aside for annual repairs and maintenance. So for round figures if your home is $300,000 plan on setting aside at least $3,000 per year, or $250 a month. A bad day is waking up when a water heater breaks, a worse day is when you have to sacrifice personal savings or perhaps that family trip next month to replace it.  A trip to Home Depot is in your immediate future and you WILL get to know the checkout person very well. The maintenance of property is for the strong and determined, so what if you really want to just enjoy that Florida friendly lifestyle and sit back with an umbrella drink after work and relax?

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         “Renting may be the way to go for the simple fact of ease of living."  Darleen mentions how great it can be to just cut the check, lay your head and let your troubles set with the sun everyday…sort of. Of course you need to make sure your landlord is present or at least a local handyman is in charge of the property. Ask the previous renters what their experience was like. Look at the surrounding neighbors and make sure your potential new home fits within the upkeep of everyone around you.

       But also lets not forget that very popular happy medium of condo ownership. You get the equity and investment, with the upside of property maintenance provided for you (with a H.O.A fee of course, see: Home Owners Association). 

       Whatever housing method you choose to move to Florida, know that no matter what you just can’t beat our sunset hitting the Gulf Of Mexico every night. So I will see you at the causeway and here’s to your new home!

Source: Darleen DePoalo , Managing Broker: Ameri-Tech Realty, 727-726-8000 ext.301
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