For some people,buying a condo has distinct advantages over buying a traditional home. Many Malibu condos for sale have amenities such as beach access,swimming pools,landscaping services and included utilities that traditional homes just don’t offer. Anyone considering a condo purchase should keep the following in mind.

Condo Amenities

Extra amenities can make life much easier and more convenient for condo buyers. Before buying a condo,ask how many parking spaces come with the property. If you plan to live with a spouse or significant other,a condo with just one parking space may not meet your needs. When you take a tour of the property,check the condition of any common areas. Look for worn carpeting,flooring defects,poor lighting,lack of maintenance and other issues. These problems can decrease the value of a condo and may even pose a safety hazard to residents.

Condo Location

Location is one of the most important considerations when buying real estate. The Malibu real estate market is no exception. You should determine how long the commute will be from your condo to your workplace. If you have kids,the condo should be a reasonable distance away from their school. You should also consider how far the condo is from pharmacies,grocery stories,entertainment venues,parks,hospitals and banks.

Assessing Condo Units

Once you’ve determined that the building is in a suitable location and has your desired amenities,you need to look at several different units to determine which one is right for you. Ask the condo representative to look at the floor plans for each available unit,as some buildings offer several different layouts. Choose the layout that has enough room for you to live comfortably. Check each unit to see if the previous owner made improvements and maintained the unit properly. If cleaning or improvements are needed,keep this in mind when making an offer. View is another important consideration for condo buyers. If the condo has a great view,but it’s on the second or third floor of the building,future construction could obstruct the view.

Benefits of Condo Ownership

Owning a condo has benefits similar to those enjoyed by people who own Malibu beach homes. Rental fees can change unpredictably,increasing the cost of living for those who rent apartments and single family homes. Some changes can occur in the costs of condo ownership,especially if property taxes or insurance fees increase,but these changes are usually gradual. If you maintain your condo properly,it may increase in value over time. You will benefit from this appreciation if you decide to sell the condo in the future. Owning a condo also has tax advantages that can reduce your annual tax bill. As a condo owner,you can deduct the amount of interest paid on your mortgage from your taxes. You can also deduct the amount of money you paid for property taxes.

With all of the benefits available to condo owners,purchasing a condo unit can be a smart investment. Working with an experienced real estate agent can help you find the best condo for your needs and buy it for a fair price.

Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.

Rental properties can be an excellent source of income,but only if you are able to fill them with tenants. Landlords who do not know how to market their properties will have difficulty finding good tenants and may struggle to generate enough rental income to keep up with property taxes and maintenance costs. If you want to market one of your Malibu rentals,use these tips to make the process as painless as possible.

Determining How Much to Charge

You may not realize it,but the price you set for rent can help or hurt your marketing. If the price is too low,it could make potential tenants think that the property is in disrepair. If the price is too high,you will lose potential tenants to properties with rents that are more in line with your local market. One of the best ways to see what others are charging is by looking at the rental listings in your local newspaper. Look for ads for Malibu Point Dume homes that are similar to yours in size and available amenities. You can also look at real estate websites to get an idea of what other landlords are charging.

Lease Terms

Your lease terms also affect your marketing strategy in the Malibu real estate market. Although renters expect that they will not be able to make too many changes to a property,some landlords are now letting their tenants choose paint colors and flooring options. This makes the rental space more homey,which can keep tenants in place for longer periods. If you are very restrictive and do not allow tenants to make even basic changes,they may rent from someone who will allow a little more personalization. How long you are willing to rent is another consideration. Someone who just wants a short-term place to live will probably not consider an apartment or condo that comes with a two-year lease. Someone who is tired of moving around and wants to settle down might be put off by a six-month lease.

Staging

Home staging is no longer just for sellers. It is difficult for renters to picture themselves living in a property when there is no furniture and no personal touches. Staging the unit with some basic furniture,a vase of flowers and a few pictures can be just the thing you need to entice a new tenant to sign a lease.

Improvements

It is not easy to convince someone to rent a property when the fridge does not work and the carpet looks like it is worn right through to the floor below it. You have to decide which improvements you want to make,as making some basic repairs might be enough to successful market the property. Painting the walls,fixing flooring defects and repairing or replacing appliances is one way to make the property more marketable. It may not be worth it to make major repairs that cost a lot of money,as you may not be able to recoup those costs by renting the property.

Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.