It has been said that 34% of Real Estate Investors make more than $75,000! Have you considered purchasing an investment property in Panama City Beach? With Bay County’s growth and expansion, over the last few years and the years to come, this is the time to buy!
There are several tips for buying a house or condo in Panama City Beach, even if you don’t live here! Here are just a few:
- Work with a real estate agent that knows the beach and also knows the condo market! You want to work with a realtor that can help you make decisions on the right location, budget and complex to best suit your investment goals
- Become familiar with the area. Chances are, if you’re considering Panama City Beach, you’ve vacationed here and may even live here full time. Talk with your real estate agent about your goals and what you’re looking for in the investment property. How close to the beach do you want to be? How much are you willing to pay in homeowner’s fees? Do you want to be close to Pier Park, restaurants, the airport or Carillon Beach? There’s so much to consider!
- Yes, there will be fees involved! Keep in mind, when you purchase a condominium in Panama City Beach, you’ll also have to pay for real estate insurance, flood insurance, taxes, utilities and any homeowners association fees. If you plan to rent this as a short term vacation rent, will you need a Rental Manager to maintain and rent the unit when you aren’t around? Consider these fees and make sure the property is worth your time and investment.
- Enjoy your investment property! Don’t forget to take the time for your family to enjoy your efforts.