A condo (condominium) is a privately owned residential unit within a larger building or community that shares common areas such as hallways, lobbies, pools, gyms, and recreational spaces. Unlike apartments, condo owners own their unit but share maintenance responsibilities for the building and amenities through a Homeowners Association (HOA).

 Ownership: You own your unit but pay HOA fees for shared amenities and maintenance.
 Amenities: Many condos offer pools, fitness centers, security, clubhouses, and waterfront access.
 Low Maintenance: The HOA typically handles exterior upkeep, landscaping, and common areas.
 Urban & Resort-Style Living: Ideal for city dwellers, beachfront lovers, and those seeking vacation-style living.
 Investment Potential: Condos can be a great rental investment or a perfect first home.

For those looking for a high-end living experience, luxury condos provide breathtaking ocean or intracoastal views, private beach access, concierge services, and high-end finishes.

 Waterfront condos offer stunning views, boating access, and a resort-style lifestyle.
 Luxury high-rises provide exclusive amenities like rooftop pools, spas, valet parking, and private lounges.
 Gated and secured communities ensure privacy and top-tier security for residents.

Investing in pre-construction condos allows buyers to purchase a unit before it’s completed, often at lower prices with customizable finishes.

 Early Bird Pricing: Lock in today’s price before market values rise.
 Customization: Choose finishes, layouts, and premium upgrades.
 Equity Growth: Property values typically increase upon project completion.

 Financing a Condo:
 Many condos qualify for conventional, FHA, or VA loans, but some may have restrictions.
 Lenders often review the condo association’s financials, insurance, and occupancy rates before approval.

 HOA Fees & What They Cover:
 Monthly HOA fees vary and cover building maintenance, security, landscaping, amenities, and reserves for repairs.
 Some HOAs may also restrict rentals or require approval for buyers and tenants.

 Homestead Exemption: In Florida, primary condo owners may qualify for property tax savings.
 Mortgage Interest Deductions: Homeowners can deduct mortgage interest on tax returns.
 Depreciation Benefits (for Investors): Rental condo owners can claim depreciation for tax advantages.

Looking for a luxury waterfront condo, an investment-friendly unit, or a pre-construction opportunity? Let M.J. Torres Realty guide you to the best properties in South Florida! Contact us today!