AFFORDABLE LUXURY
IN SOUTHWEST FLORIDA
For the first time in a very long time the age old dream of owning a winter home in the Sunshine State is becoming a reality for many. While there are an abundance of choices available to the potential home-buyer, luxury condominiums and planned communities may represent the greatest opportunities of all in Lee County Florida.
During the boom years of the Florida real-estate market developers and builders alike raced to stake their claim in what appeared to be a growing market for high-end condominiums and planned communities. In their efforts to stand out amongst the competition these new communities featured homes of exceptional quality and boasted a surprising array of standard amenities.
Now, in the wake of the recent housing market crisis, these luxurious homes are selling at discounts of up to 70% of their original value. Resort-style living which was once relegated only to the wealthy is fast becoming an attractive alternative for buyers of more moderate means. Homes which sold for a quarter of a million dollars five years ago can now be purchased for a little more than a hundred grand. These exceptionally low prices coupled with historically low finance rates make luxury home ownership an affordable option.
Many of these homes have never been lived in and unlike the many distressed properties in today's market these homes are typically well-maintained. This translates into lower costs of ownership and less headaches for new owners. Quality construction, generous, open floor plans, and a slew of luxury appointments not only add to the property's re-sale value, but make the homes more attractive to potential buyers. Many features not found in the typical single-family home such as granite countertops, crown molding, vaulted ceilings, and high-end tile work are standard in many of the planned communities and condominiums throughout Southwest Florida. Add to this secure gated access, lush landscaping, state-of-the-art exercise facilities, infinity pools, luxurious clubhouses, and a resort-like atmosphere and you have an investment opportunity that represents a tremendous value.
While the current housing market provides many opportunities to the would-be investor and those looking to purchase a primary or secondary residence, few represent as great a value as the condominium or planned community home. Those looking to take advantage of buyer-friendly market conditions would do well to include such properties in their search.
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