Buyers who choose condominiums over single-family homes benefit from significant savings on insurance, maintenance and utilities costs and a more vibrant and convenient lifestyle, according to a new Miami Herald column.
In the column, Realtor Ralph De Martino explains the various ways condo owners can save on fees when compared with single-family owners. For instance, De Martino cites a report from Acentria Insurance that shows a median-price single-family home built after 2001 in Miami would have an annual insurance cost of $10,064 – while a median-priced condo policy would only cost $1,411. Additionally, single-family owners often pay monthly fees to cover landscaping and pool maintenance.
Other advantages for condo owners include:
As more people focus on experiences instead of physical possessions, condos offer the chance to enjoy the South Florida lifestyle at median and average prices that are about 1.75 times lower than single-family homes
Condo buildings, such as Merrick Manor, have 24-hour on-site security and enhance storm safety features
Owners at condo buildings have access to many amenities. At Merrick Manor, residents can relax at the resort-style pool deck, work out at the state-of-the-art fitness center or catch up on the day’s headlines at the news café