Common questions
What buyers actually ask
The 21 questions I field most often, in my clients’ own words rather than tidied up for a website.
Ownership structures & fees
- What is the difference between a condo and a villa?
- What is a regime? Is that the same as an HOA?
- Why do communities have both a POA and an HOA — what's the difference?
- What does it mean when a townhome is fee simple?
- What is included in the monthly condo fees?
- Do I have to pay for golf in that community?
- Is there a minimum food and beverage requirement in this community?
- How long is the waiting list for a wet boat slip?
Insurance & taxes
- Do I need flood insurance? Why, and how do I know if I need it?
- How do I get the best rates on insurance?
- Are property taxes higher on an investment property than a primary residence, and if so, how much more?
- What will my property taxes be?
Investment property
- If I buy an investment property, can't I just tell the bank it's my primary residence?
- What are the best condo complexes on the island for return on my money?
- Is it better to buy an investment condo near Coligny Beach or Folly Field Beach?
- What is the average daily rental rate for that unit?
- Who are the best property management companies?
- What are the advantages of self-managing my investment property?
Living there
- What type of community is it — is it easy to make friends?
- What are the neighbours like?
- Can I put a five-foot or eight-foot fence around my backyard?
One of these has a short answer
If I buy an investment property, can't I just tell the bank it's my primary residence?
No — and it isn't a grey area. Misrepresenting occupancy on a mortgage application is fraud. In my own words: "this is a big NO, NO, could wind you up in jail." Ask me how the financing genuinely differs instead.
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