Leveraging your Boca Raton condo as a rental property is one of the most profitable ventures in residential real estate. You're the fortunate owner of a condo in an area as desirable for upstart entrepreneurs as glamorous retirees that sits in a space offering year-round summery weather. Beyond the lush rental market here in Boca Raton, there are other advantages to owning a rental property in Florida. The state is unique in its advantages, namely in dealing with the rampant bureaucracy that turns wealth centers like New York and Los Angeles into real estate nightmares. Fortunately, Boca Raton residents can enjoy the wealth of those coastal cities without the government that tamps them down and ignores the cries for public safety. In today's Boca Luxury Condo blog, we peel back the layers and go over the basics of rental income taxes in the state of Florida, informing you of the potential that is to come.
Sales and Use Tax
The lack of a state income tax is a popular draw to South Florida that free-agent athletes will factor tax laws into their decisions. Thankfully, there are more than a few reasons for star athletes and successful job creators to join the Boca Raton condo landscape,...
Like our recent blog regarding expanding the limited space in your Boca condo laundry room, we know not every condo will be a sprawling 3,000-square-foot masterpiece to put many single-family homes to shame. For most, there is a small exchange of space for access, with waterfront and downtown condos in particular fetching a much higher price per square foot. While a laundry room is an outcropping made to satisfy a particular task, a kitchen is one of the most trafficked and used rooms in the condo. Thankfully, there are many devices, configurations, and storage solutions to remedy the problem of the seemingly shrinking condo kitchen. While there are many to choose from, we chose some of our favorite tips and tricks to place below to help you get the most out of your small Boca condo kitchen!
Choose A Cabinet Depth Refrigerator
"Cabinet depth" is self-explanatory, but in practice is more satisfying than it sounds. We'll often surrender a foot or more of space thanks to the protrusion of our refrigerator. It may not sound like much, and perhaps you won't spend much time hanging out 6 inches in front of your fridge, but this is one way to make your kitchen seem much larger without doing much. Having all cabinets and storage spaces at...
Whenever someone we love makes a major move in life, a little gift is often the tactful thing to provide. After all, we have bridal showers, baby showers, wedding fits, bar and bat mitzvahs, and milestone birthdays to name a few. Knowing this, a new Boca condo is a lifetime victory for the fortunate buyer. With the rigors it takes to buy a condo in Boca, the cost it takes to ge there, and the work it took to afford it, it's no wonder a small get-together and housewarming gift is something commonly seen among small circles in Boca Raton. In today's Boca Luxury Condo blog, we compiled 6 gifts at a variety of price ranges to cover a wide range of tastes & desires. Learn more about these 6 perfect housewarming gifts and see which fits your loved one best!
An Indoor House Plant
An indoor plant immediately adds character to your home and breathes life both literally and figuratively into it. Popular choices like snake plants and succulents instantly boost the vitality of the room, cleansing the air and adding color to what are increasingly sterile condo decor choices. As we regress from the Mizner-inspired Mediterranean energy of years past, houseplants and living decor are becoming...
Boca Luxury condos are largely built for comfort and class. Many fortunate condo owners will likely never deal with the noise and clamor of bad neighbors. Between the quality of individual buying in your building and the existing inbuilt soundproofing solutions, we don't expect many disturbances to your home life. However, in some cases, the murmur of your neighbor's television or the shrill bark of their Maltese may be enough to drive you crazy without offering much of a resolution. After all, choosing a pet-friendly condo means you may hear the occasional dog bark and your neighbor is permitted to enjoy their TV within reason. For those with the means looking for a little quieter, learn what soundproofing materials are available to you in our new Boca Luxury Condo blog.
For a highly involved, but complete...
When it comes to having multiple offers on your Boca condo, there's an expression in football that rings true: "Having two good quarterbacks is a great problem to have." Yet, much like the head coach and GM who have to determine who to play and what to do with their useful but unplayed asset, you should know how to gameplan for this scenario. Sometimes, multiple choices can lead to poor decisions, even when it appears there's no way to go wrong. Today, we regale some key details and experiences from our most talented Boca condo Realtors and see what they have to say about how to handle multiple offers on your condo.
Ignite A Bidding War
There's an old adage among football coaching circles that "having two good quarterbacks is a great problem to have." After all, one good choice is better than none, and two good choices are better than one. There are tactful ways to work through your Champagne & Parisi Realtor to subtly ignite a bidding war. The success of the bidding war is dependent in part on how perceptive your Realtor is, and how close each bid is to the listing price for your condo. When one buyer prospect is under the impression that another is...
In the wake of the post-COVID era and some of the more... egregious economic decisions made in the past few years, inflation began to skyrocket in early 2021. In response, the federal reserve roared to life, raising interest rates in ways unseen for decades. The resulting shock stirred prospective buyers and sellers into a defensive crouch while pricing many millennial home buyers out of the market altogether. The Champagne & Parisi agents are here to deliver the facts and assuage concerns about this seemingly unprecedented time. However, this is far from unprecedented, and in fact, is closer to the mean in U.S. History than the past few decades would indicate. This is an unfamiliar, but not unprecedented time, and for our part, we're here to bring you some answers to the most pressing questions you have for us. So, why are mortgage rates so high? Read today's blog for a few of the prime reasons behind it.
Combat Rising Inflation
Rising rates are utilized in part to combat the accelerating inflation we've all experienced in the past few years. The rates are artificially implemented to reduce consumer activity, namely through the discouragement of loan activity and...
The days of tans, terracotta, and Mediterranean influence will soon be in the rearview mirror for this strongly Addison-Inspired community of beautiful luxury condos. As more buildings, such as Townsend Place and Boca Grand, most recently, shift from the warm room-darkening hues to the eggshell whites of today, modernity continues sweeping across our condo market. While in years past our condo decor relied on Renaissance art inspiration, making the most luxuriant of condos appear like a modern-Medici-era penthouse rather than a clean beachfront high-rise, today's modern vibes are cleaner, calmer, brighter, and more serene. Learn how these new trends have affected how we decorate our condos, and how you can upgrade your own to elevate the vibe to modernity.
Choose A Modern Paint Color
The color shown above is "Viva Magenta." This accent color is Pantone's 2023 Color of the Year. While painting entire rooms this bright yet somewhat subdued color may be a stretch, but this is the perfect color to accent your walls and trim....
Boca Luxury Condos is a sound investment for both a resident and a landlord. While we already know the answer (yes) to the question of Boca's condo value as rentals, this doesn't mean every street, every unit, and every building is the perfect investment. For those investing here and beyond, we're eager to answer the questions we receive about the profitability and viability of renting out your condo in Boca Raton. These 5 features are a basic barometer that should give any would-be landlord a starting point when entertaining their prospects. If these 5 features of highly profitable rentals check out for you, you may consider renting your condo! While in no particular order, these 5 considerations should be all you need to begin investigating the rental of your unit. Read on and learn more in today's Boca Luxury Condo Blog.
The Strength and Desirability of the Local Market
Renters often choose to rent because they have recently relocated, cannot afford a home, or are waiting for market conditions to yield improved terms. Regardless of their "why," the purpose of renting is to reach a temporary agreement to lease a property for a specific set of time. Thus, the very nature of their rental is to be temporary....
Owning Rental properties are all about balance. Before undertaking any cost/benefit analysis, a landlord should ensure the well-being of their tenants and the decency of the property they're renting. Once essential human rights are guaranteed, it's time to look into profitability. There are some things we have little control over, such as the neighborhood at large, nearby public projects, utility issues, and crime, but what lies beyond the sidewalk and within our walls is our responsibility. These 5 updates will go a long way in not only adding value to your rental condo but improve the aesthetics and livability for your tenants. Not every major remodel needs to cost a fortune, and with these 5 smart money kitchen updates, we show you 5 ways to improve one of the most important and traversed rooms in your condo.
Upgrade Your Light Fixtures
Without replacing any electrical components or interacting with high-voltage connections, there are ways to replace the outermost components of your light fixtures to modernize and improve your Boca Raton rental condo. You might not even need to replace your fixtures, but consider the difference in light refraction and ambiance when the bulbs themselves are replaced. Either way, the hanging and standalone...
Boca Raton's condo market is the gem of one of the most desirable cities on the eastern seaboard. These beautiful waterfront and downtown lofts permeate the landscape and offer an iconic lifestyle sought-after from every corner of the globe. For condo buyers, we've assembled this list of 20 key questions to ask when buying a condo. These basic inquiries will provide the backdrop for your condo search refinement, and remain applicable to any market you choose to search. Take heed, read on, and keep these twenty questions in mind when looking for your next big purchase.
1. THE CONDITION
What is the condition of the building? When is the last time it was inspected for foundational concerns? Ask these questions while ensuring you take time to view from the naked eye and draw your own conclusions about its upkeep.
2. COMMON AREAS
Are they well-maintained and attractive? These are what your fees pay for, so you should be seeing and enjoying...
