Retiring in Sarasota: Should You Buy a Condo or Single Home?

Are you planning to enjoy your golden years in Sarasota but wondering if you should buy a condo or a single home? Sarasota is a prime retirement destination, thanks to its warm climate, beautiful beaches, and cultural activities. Retiring in Sarasota is the best decision, and retirees are increasingly shifting to Sarasota. If you’re one of them, this article will help you decide between a condo or a single home.

Sarasota, FL Real Estate Market Watch

The median sale price for all types of homes (including single-family, townhomes, and condos) in January 2024 was $535,000. The real estate data keeps changing; contact us to stay updated about Sarasota properties.

3 Things To Know About Condos and Single Homes Before Retiring In Sarasota.

1. Affordability and Ownership

Owning a single home may come with a higher upfront cost for buying land and upkeep. But you get to make all property decisions. Plus, it’s a long-term investment that could increase in value over time. Nothing beats owning your own home!

On the other hand, condos are an excellent option for those looking for more affordable homeownership. By sharing common areas and amenities with other residents, you can save on costs and still enjoy a comfortable living space. Plus, you can spend more time doing what you love with fewer maintenance responsibilities. And remember, owning a condo also allows you to build equity for your future.

2. Amenities

You can access fantastic amenities in condos, like fitness centers, pools, and rooftop terraces. Some condos have spas and tennis courts for you to use. Moreover, you won’t have to worry about maintaining these amenities yourself.

Single homes have limited amenities available because of the costs and maintenance involved. Installing and upkeeping features like inground pools can be expensive. Owners are responsible for looking after any amenities on their property.

3. Privacy

Living in a condo offers some great perks, but it also means you’ll have to consider a few things. You might have to follow some rules about renovations, noise, and pets, which could limit your freedom. Plus, sharing walls with neighbors might mean dealing with some noise and less privacy.

However, living in a single-family home means you enjoy complete control over your space. You’ll have more privacy and freedom to make your home your own. And remember the extra space! Single-family homes typically offer more room inside and outside, giving you plenty of space to spread out and enjoy.

Buying a condo or single home depends on personal preferences and financial situations. Both options have unique benefits and drawbacks, so carefully take your needs and priorities into account before deciding. Whether you choose a cozy condo or a spacious single home, remember that the most important thing is finding a place that feels like home to you.

Happy retiring in Sarasota!