Understanding Daytona Beach Condos

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

I received an email. Harry was thinking about buying a condo on the ocean with a good view. He will not live there, but rather come time from time, and would love to rent it when he is not in Daytona.

He is looking for something inexpensive, he will pay cash, and he does not plan to rent.

And while responding to this email sounds easy, it is really not. It is because “inexpensive” usually means condo-hotels, but if you buy a condo-hotel, and not rent it out when you are not using it, it is like buying a plane, and never fly it.

Daytona Condos

Let’s take a closer look.

There are two types of condos: Condo-Hotels and Residential Condos.

Condo-Hotels

Pros:

  • They are cheap;
  • Association fee is all-inclusive (electric, water, cable, etc);
  • They are on the beach;
  • They rent on daily basis like hotels;
  • They are supposed to be a hassle-free ownership and sometimes they are;
  • You can come and stay and then leave and have it rented.

Cons:

  • They are usually old former hotels built on the cheap;
  • They are small (from 200 sf, on average between 300 and 400 sf.);
  • Majority of them are studios;
  • Many of them do not have cook-tops;
  • They may have limitation on how much time you can use your unit;
  • Your maintenance (per sf) is very high;
  • Special Assessments might be not a rare occasion;
  • You can’t live in condo-hotels, can’t Homestead them
    --------------------------------------------------

And then there are Condos (Residential aka Apartment Condominiums)

Pros:

  • They are not operated as hotels;
  • They are 1-2- or 3-bedroom condos, not studios;
  • They have full kitchens;
  • You can move there now or in the future and make it you primary residence and homestead it for tax purposes;
  • Association Dues per sf are significantly less;
  • The Associations are usually more stable;
  • They are usually better built;
  • You know your neighbors and there is social life

Cons:

  • Condos on the ocean are more expensive;
  • They require longer minimum rental periods;
  • Association Dues do not include electric
    ---------------------------------------------------

Disclaimer: all condos and condo-hotels are different, and the above statements are general in nature, meaning it applies to majority of condos or condo-hotels, while there are still some exceptions.

Call me if you are interested in condos or condo-hotels in Daytona Beach area. Follow this link for more information about condos in Daytona area, availability and prices

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Topic:
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Florida Volusia County Daytona Beach
Groups:
Realtors®
Condos, What you need to know?
Condo Specialists
Real Estate Trends
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Tags:
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Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

I believe that it all depends on the usage. If you come to Daytona for a week or two to relax, ten being on the ocean and seeing it is more important, than the comfort. After all, you stay in a hotel and put up with small inconveniences...

However, when you are planning to spend months here, then think about convenience first. you will very quickly get used to the view and would hardly notice it, but, for example, noise, small size, constantly running noisy wall AC unit, peole around who come and go; lack of kitchen space... that's, probably, not what you would not be noticing.

the main thing is that you can always go to the ocean and the beach. you are not coming to sit in the room and watch the beach. And if it would take you 7-10 minutes to comfortably walk to the beach, but live in a larger unit, way more comfortable, think about it...

Dec 02, 2015 11:27 PM #1
Rainmaker
2,426,103
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The defintive & final word on this subject courtesy of Jon Zolsky, Daytona Beach, FL 

Dec 02, 2015 11:30 PM #2
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jon great wisdom in this post, hope the buyers and sellers recognize what you bring to the table, Endre

Dec 04, 2015 01:34 PM #3
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Richie Alan Naggar - thank, you are very kind

Dec 04, 2015 10:55 PM #4
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Endre Barath, Jr. - often times in vacation areas you deal with champagne expectations on beer budget. And when this is not really the case, it is often not setting up the priorities... Thank you

Dec 04, 2015 10:57 PM #5
Rainer
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DEANNA EARLY - - ( NMLS # 268590 )
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People should always be realistic with their real estate expectations Jon Zolsky, Daytona Beach, FL because we all know;  You get what you pay for !

Jan 17, 2016 12:09 PM #6
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Deanna Early - they sure should... but usually they are not :) Myself included. If I were truly realistic, I wouldn't be buying lottery tickets, but I still buy 3 tickets whenever I am in Publix Supermarket...

Oh, I forgot, I am doing it because this is how they subsidize education in Florida :)

Jan 17, 2016 12:11 PM #7
Anonymous
Bobby Sydnor

Good Point

May 25, 2016 11:45 PM #8
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