Panama City Real Estate
Panama City Beach sports a spectacular shoreline that extend for 27 miles with views of the emerald-green water of the Gulf of Mexico captivating the eye. Residents who cherish good ole’ Southern hospitality — something that infiltrates the lifestyle here — say the location is perfect for them and so is the dining and shopping that all blend together to make it home.
Although many people have come to Panama City Beach to visit – living on the beach is a totally different thing! Wild Heron is one of the neighborhoods that epitomizes Panama City Beach and waterfront living. Located just one mile from the Gulf, its focal point is coastal Lake Powell, ideal for those who are looking to live the boating lifestyle. North of Highway 98, the community spans 600 acres and is home to Greg Norman’s Shark’s Tooth Golf Club, the only private signature golf club in the area.
Entertain your Guests in Panama City Beach
Resident’s who aren’t entertaining at home or enjoying the social hour at the Shark’s Tooth club, have dinner at Firefly, another one of the favorite Panama City Beach restaurants, or they might drive 15 minutes to Rosemary Beach, on the east end of Highway 30A, for fresh Gulf seafood at Restaurant Paradis.
No Longer a Drive to Destination
There are a number of subdivisions throughout Panama City Beach that have quick and easy access to everything that have condo buyers flocking here — including the new Northwest Florida Beaches International Airport. The airport provides, via Southwest and Delta airlines, easy access to the area and serves some 800,000 passengers and growing each year coming in and out of Panama City Beach. Prior to the opening of the airport Panama City Beach was a drive-to-only destination.
Lots of fun things to do in Panama City Beach
Lures for residents and vacationers alike include the 1,500-foot Russell-Fields Pier, known for its fishing and sunrise and sunset views and, historic Pineapple Willy’s for the best ribs on the beach. Pier Park is a colorful enclave of shops, restaurants and entertainment and is also a venue for events throughout the year, like Unwind at Pier Park, which is part of the annual Taste of the Beach wine festival, and the New Year’s Eve Beach Ball Drop.
Optimism for an improved jobs market and a real-estate upturn with fewer foreclosures has spurred new construction. House hunters will find a wide variety of buying options in Panama City Beach.
The long-established golf-cart-friendly and gated community of Carillon Beach, sits on the south side of Highway 98 on the Gulf. Carillon Beach is home to both full-time and second-home owners with houses that have name plaques like “Seas the Day.” Built in late 1991, Carillon Beach is similar to the town of Seaside. One of its unique characteristics is that most of the homes have shaded porches.
Condos are Best Sellers
According to this year’s sales statistics in the area, Gulf front condos are a best seller in Panama City Beach with over half of the condos sold this year being beachfront with beach access.
The most important things to consider when looking for condos for sale is to take time to do your research. First and foremost, decide where you want to be located. From there, find out what the condo options are in the area. Condos on waterfront properties will be more common and readily available.
Considerations should include how much privacy you would like to have. Having privacy is possible in a condo, although condo living does mean neighbors will be quite close, some condos have made it a point to build so that residents feel that they have more privacy.
Calculate all the costs of Buying a Condo
Although buying any waterfront property is different than a standard home purchase, there are different financial considerations when contemplating a condo purchase as opposed to a single family home purchase. Most of the homeowner associations impose fees for ongoing building maintenance, whereas in another type of home you pay for expensive renovations or maintenance projects at a time when you can afford them. When the home owner lists their condo for sale – they must disclose those documents.
Ask to review the minutes of the association’s meetings to see if there are outstanding maintenance issues that will be associated with the cost of your condo. While condo fees aren’t a part of your monthly mortgage payment, you will still need to budget for that expense.
Keep in mind also that condominium association dues include insurance and the cost may be higher than for a single family home as the community association pays for things like the roof, elevators, exterior walls, walkways and the land itself that are all owned by the association. Condo owners typically pay lower homeowner insurance rates because they are paying only for the inside of their home and their personal possessions.
Once you determine the location you prefer, become familiar area and the various condo options, amenities and fees. Many first-time buyers don’t think about the additional cost of condominium association fees which pay for communal maintenance and services. Keep in mind that these condo fees will be part of your debt-to-income ratio when you qualify for a loan. The down payment required may be higher on condos than on single-family homes.
When considering a condo purchase, take your time to look at the building. Do you like its size? Is it in the right location? Is the building properly maintained and are the amenities to your liking?
Although there are many waterfront condo complexes that run along the beach of Panama City Beach – we have picked the most popular for you. These condos were chosen based upon the year over year property value increase and overall demand. To see the most current condos for sale in each respective complex just click the link.
Hire a Professional
For your best results in finding your dream condo for you and your family in Panama City Beach, use a professional REALTOR who can assist in your search for the best property. A professional real estate agent will know everything you need to know about buying a condo in Panama City Beach.