Resort Real Estate

Investing in Real Estate

Buying a Condo 101

Gulf Shores · Orange Beach · Perdido Key

Important Considerations
 

Homeowner Associations

Condo owners are members of the Homeowner Association (HOA), and are subject to special assessments by the Board of Directors (BOD).

Lifestyle Restrictions

The Covenants, Conditions & Restrictions, and any rules implemented by the BOD, restrict the use of a condo, e.g. decorating, rentals, pets, visitors, use of common areas, etc.

Common Property

Inadequate maintenance of the roof, building-envelope, elevators, etc. can cost HOA members $1000’s.

Legal Issues

Lawsuits involving the HOA, or the Board of Directors, can expose condo owners to significant financial liability.

Financial Planning

Poor planning by the BOD can result in HOA members funding the repair & replacement of common property via “special assessments.”

Property Defects

A Home Inspection can save you money by identifying defects, while documenting the age and expected life-span of the major systems.

Peace of Mind

A Home Warranty offers peace of mind, it just makes sense for everyone – no one knows when a component will fail.

Experience Matters

Always work with someone that has experience with the various issues of owning resort property.

If you’re interested in investing in beach resort property, or just have a real estate question, contact me anytime.