|Condominiums offer an affordable option to single-family homes. 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.
Aging baby boomers, young professionals and
investors are fueling a trend of condominium construction in downtown Jacksonville, Southside,
Mandarin, Jacksonville Beach, Ponte Vedra Beach, Atlantic Beach, Neptune Beach and
Vilano Beach. Generally, luxury oceanfront condos in Jacksonville can range from about $500,000 to multi-millions.
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.