Below you will find useful tips and information on the 5 types of properties regardless of price points. Click on the item of your choice.
This section refers to “single family homes” or “detached properties” whether they are on the water or not. A single family home is usually the most desirable type of ownership because of the freedom it gives but it is therefore usually also the most expensive. ADVANTAGES: 87% of Wilton Manors homes for sale in 2016 fetched prices above $300,000 and 22% were even above $500,000. Two homes sold above $1 million in 2016 (both waterfront). Homes currently for sale in Wilton Manors:
This is a sub-segment of the “homes” market. The advantages identified under 1. are identical. The ones identified here are specific to the waterfront. Fort Lauderdale is the “Venice of America” and Wilton Manors is the “Island City”. With close to 200 miles of canals, the area has one of the largest selection of waterfront properties in the country. On average 20 to 25% of homes sold in Wilton Manors are waterfront year in year out. In 2017 it reached a peak at 28%. Living on the water is fun and glamorous. Here are some big draws to waterfront living: ADVANTAGES: 20% of Wilton Manors Waterfront homes for sale in 2017 fetched prices below $400,000 and 44% sold above $600,000. Click Here to view waterfront homes currently for sale in Wilton Manors A “town home” is attached to its neighbor. You share common walls while a home or single family home is a detached property with windows on all sides. Another big difference is that a town home typically has 2, 3 or at times even 4 floors while a single family home is usually just one floor (although newer properties tend to have two!). A town home is typically a compromise between a single family home and a condo. ADVANTAGES: The market of town homes in Wilton Manors is mostly located in the Central part of town and in 2014 is clearly split in two subgroups: a) properties priced below $300,000: they are typically built in the 1970’s, have two bedrooms and no garage. b) properties priced above $300,000 are typically built after 2000, have three bedrooms and a two car garage. The biggest inventory is in the “Highland Estates” neighborhood on NE 8 and 9 AVE north of 26 Street as well as the “Belle Isle” development on Wilton Drive. The condo is the solution for those who seek convenience but are willing to give up freedom and space. It is also usually the best alternative if your budget is limited. The monthly fees paid to the association usually cover the insurance of the building, the maintenance of the common areas, often water and trash is included, sometimes cable and internet is as well. If the monthly fees are too high for your budget, consider a one bedroom condo instead of a two bedroom (if possible at all). HOA fees are usually based on square footage…. If you look for views, condos are the way to go but remember the higher the floor, the higher the investment! ADVANTAGES: In 2017, the condo market was split into 2 segments: Condos priced below $200,000 are from the 1970’s and the majority are in the “Manor Grove” complex and a few other smaller developments. The higher priced units are usually remodeled. The cheapest condos start at around $55,000 for a one bedroom in original condition. 78% of the condos sold in 2017 were in this segment in Wilton Manors. As a general rule, 1 bedroom condos were priced below $100,000 and 2 bedrooms condos between $100,000 and $200,000 but recently it has become tough to find anything below $100,000 and 2 nicely renovated 2 bedrooms will fetch prices above $200,000. Condos priced above $200,000 up to $500,000 are in “Wilton Station” and “Island City Lofts”. These 2 developments are from 2005-2007. As a general rule, 1 bedrooms are in the $200k, 2 bedrooms are in the $300k and 3 bedrooms are above $400k. There are also large complexes like Drake Tower, Hidden Harbor, River Shores etc.. right outside the city boundaries that are priced attractively. CONDOS FOR SALE IN WILTON MANORS: Investment properties are Duplexes, Triplexes and Four-plexes which means a property with 2, 3 or 4 apartment units on the same lot. The Buyer usually acquires such a property for the income it produces. They are all over town but mostly concentrated in the Central area. Some times a Buyer decides to occupy one of the units and then the tenants pay for his mortgage. This is most common in duplexes. This is purely an investment strategy and an alternative to investing in equities, bonds, gold or cash. Those properties have sold like pancakes in recent years and are hard to come by. The Buyer must be ready to deal with tenants. The financial rewards, especially in times of very low interest rates can be high. DUPLEX, TRIPLEX, 4-PLEX FOR SALE IN WILTON MANORS:
1. HOMES FOR SALE IN WILTON MANORS
2. WATERFRONT HOMES IN WILTON MANORS
3. TOWN HOMES IN WILTON MANORS
Town Homes currently for sale in Wilton Manors:
4. CONDOS IN WILTON MANORS
5. INVESTMENT PROPERTIES IN WILTON MANORS
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