|Aging baby boomers, young professionals, and wealthy investors are fueling a trend of condominium construction near Jacksonville Beach, Neptune Beach, Atlantic Beach, Fernandina Beach, Amelia Island, St. Augustine Beach, Ponte Vedra Beach, Vilano Beach, and St. Augustine Beach. Condo values at the Beaches have been appreciating year after year. Generally, luxury oceanfront condos can range from $500,000 and up.
|According to the National Association of REALTORS, condo values are increasing faster than single-family home values. In most areas, condominiums provide many of the benefits including:
Equity growth in your home.
Interest and tax payment deductions on your federal tax return.
Low maintenance without some of the home-care hassles such as yard work and roof repairs. The maintenance is customarily taken care of by the condo owners association.
Typically, the value of
condominium is determined by its location
and plan features. Ground floor condominiums are
desirable, highly marketable, and sell at
higher prices than those of second or third
levels. Water views, conservation, and
close proximity to the club pool can add
significant value to the condominiums.