Caribe Resort Educates People on Purchasing Their First Condo

A condo can be a great first home for new buyers. Furthermore, condos make for perfect rental properties down the line. “However, before rushing out and purchasing a condo, buyers need to know what to look for,” said Honsvick of Caribe Resort, the most secluded vacation destination in Orange Beach, AL. “You need to choose one with a great location that will be easy to resell or rent in the future.”

To help people considering a condo, Honsvick lists the following five tips on what to know before buying:

No. 1: View and elevation. According to American Real Estate Society data from condominium sales along the Gulf Coast of Alabama, the positive externalities associated with upper-floor and corner units have a positive and substantial effect on value. Furthermore, corner units offer even greater positive externalities and sell at a premium to interior units, primarily due to their more panoramic view.

No. 2: The number of bedrooms and how many it sleeps. In addition to location, layout is also imperative, “and the more bedrooms your condo has, the easier it will be to rent or sell,” added Honsvick. 

No. 3: Appliances, such as big TVs, stoves, refrigerators, etc. Amenities are key, and appliances make a big difference in how the condo is staged. “Showcasing different appliances adds value to the condo,” noted Honsvick.

No. 4: Maximizing square footage. Keep in mind that in most markets, a larger condo (based on total square feet) is less attractive than a smaller condo with more bedrooms. Staging is also important; i.e., mounting TVs, moving furniture around to make the area feel larger, etc. “You want it to feel as spacious as possible,” advised Honsvick. 

No. 5: Price point. “The price point is everything,” concluded Honsvick. “In fact, it is the most important part of buying a condo. At the end of the day you want to make sure you’re getting a condo at a fair price.” 

About Caribe Resort

Caribe Resort specializes in vacation and condo rentals in Orange Beach. The resort was designed with families in mind, and features luxurious amenities such as a lazy river, pools, slides, saunas, hot tubs, tennis courts, and more. For more information, please call (888) 607-7020 or visit www.cariberesort.com.

For media inquiries, please call the NALA at 805.650.6121, ext. 361.