How To Plan For The Hidden Costs Of Waterfront Condo Living | Waterfront Condos In Boca Raton
Boca Raton Real Estate is known for its sense of luxury, with much of its reputation centered around its omnipresent waterfront condos, jutting into the skyline from our white sand beaches. Waterfront condos are a popular choice among luxury buyers, offering stunning views and a host of amenities. They are a status symbol for the young upstart entrepreneur, and the ultimate getaway for our many empty nesters. However, along with the immense benefits of waterfront condo living come hidden costs that can add up quickly, tilting your budgetary expectations into potentially uncomfortable territory. Here are some of the most common hidden costs of waterfront condo living and tips on how to plan for them.
Property Insurance
Outside of your mortgage, likely the highest cost associated with waterfront condo living is property insurance. Waterfront properties are at a higher risk for damage from natural disasters such as hurricanes, flooding, and storm surges. As a result, insurance premiums for waterfront properties can be significantly...