When shopping for a condo to buy as a vacation home or investment property, there are many factors you need to consider. You must consider the preferences of potential renters when purchasing a condo to be rented. While most condos will rent out during prime season, you want to ensure that your rental income is maximized throughout the year. This means that you must consider floor selection when attracting “shoulder season” tenants who can choose from a broad range of available properties. I am a vacation rental property owner, used to own a high-rise condo management company on the beachfront, and now have the opportunity to sell condos and vacation homes along Florida’s Gulf Coast. Here are some tips that might help you find the perfect floor location for your condo.
Sounds and Smells
Nothing can beat the aroma of a freshly grilled steak …., especially when you have to enjoy it for hours on end. In the summer heat, it can be distracting to smells coming from restaurants, beachside grills and dumpsters. You should make a list of any objects that could interfere with salty sea breezes. Also, remember that winds can change direction so you need to be aware of everything around you!
While the sounds of children on the beach and radios blasting out the latest summer hit can be wonderful, it can also be quite noisy when you are trying to take a nap on your balcony. You may also hear noises from nearby bars, clubs, heavy traffic or events. Remember that sound can reverberate up to several floors in concrete buildings!
Winner: The general rule is that the higher you climb, the less an issue smells or sounds. I give the win to those on the middle and higher floors.
Tip: Make sure to understand the hours of hot tubs, restaurants and pools so you know when they close. You should also be aware of any nearby noisy mechanical equipment.
Ease and Convenience
It can be difficult to begin your vacation with long waits in overcrowded elevators during the scorching summer heat. Many resorts have Saturday check-ins and checkouts. This can cause long lines and irritability. Ground floor units can come in handy when loading up a car or unloading it after a long drive. To transport your luggage, groceries, beach toys, and luggage from/to your room, you will need to wait for an elevator on all floors. There may be times during a stay that guests are willing to climb or descend a few flights of stairs in order to save waiting for an elevator. This will give them an extra floor on their Fitbit.
Winner: I’ll award the big win on the first floor, and a small win on floors 2-4 (who doesn’t want to run up more than four floors?)
Tip: Take note of how many elevators you have and how fast they are running. Potential renters may be concerned if there are too many condos and not enough elevators to service them all.
This post was written by a real estate expert from the Dotoli group. Josh Dotoli is Paramount Residences #1 Selling Realtor with nine sales in 2021, 3x more sales than any other Realtor selling in the building. The Paramount Residences enjoys a prime beach area location. It is a Ft. Lauderdale oceanfront condo located across from the beach. Looking for a Paramount Condos For Sale Fort Lauderdale? Contact us today!