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.
Why Look at Malibu Beachfront Homes for Sale
Unlike many neighborhoods in more suburban areas,Malibu offers an excellent variety of living situations for various lifestyles –from the quaint neighborhood of Malibu West to the homes way up the canyons with expansive land and awesome views to the luxurious beachfront estates on the sand,each area can appeal to different types.
When considering Malibu beachfront for sale here are a few things to consider.
1. Consider your proximity to neighbors and major roads.
Fact –The only major street in Malibu is the Pacific Coast Highway. This highway serves as the main thoroughfare by which thousands of cars travel everyday. During summer months it is no secret that traffic can get jammed at times and sometimes parking on the PCH can be an issue.
Many often forget that they live on such a busy street as soon as they close their garage door and look out at the waves and hear just the sound of the ocean and begin watching the dolphins play outside their back porch again.
To that end,one of the best parts of having a Malibu beachfront home is that you have immediate access to the main highway and can easily drive to anywhere you need to go. Many people commute to Santa Monica or further because being able to come back home and look at the sunset overlooking the ocean is worth it!
2. Do you prefer more land or less land?
People who live on the beach usually love it and for good reason. Not only do you have a pristine environment that is constantly changing and showing its moods but you also have immediate access to an incredible source of beauty,entertainment and fun!
One consideration,however,is that if you are a family with young children or prefer a yard that you can tend to,perhaps the ocean is not the best place for you.
3. Maintenance anyone?
Fact –The ocean is salty.
Fact #2 –If you have a beachfront home you will need to do more maintenance.
Living on the ocean definitely has more pros than cons but the main con in my opinion is that you will need to spend more money on maintenance and be very diligent to make sure that you take measures to combat the corrosion and wear that living on the beach causes.
4. Hello neighbor?
Fact –There is not more oceanfront land being made in Malibu.
Unfortunately,there is only so much coastline in Malibu and as a result the properties and home that exist on Malibu beachfront are limited. Most properties are very near their neighbors so as a result sometimes privacy can be limited.
5. I thought you said sand?
When considering a Malibu beachfront home for sale take into consideration as to why you want to live on the beach. Is it the just the views,the walks on the beach,the sand,etc? In Malibu,property values usually coincide with the quality of the beach that the home is built on.
In Malibu there are many different types of beaches that exist. To name a few:
- Dry sandy –commands the highest price and for good reason. These beaches usually have sandy beaches throughout the year.
- Wet Sandy –Can be sandy but usually at low tide
- Rocky –Many homes in the Big rock area can be built over large boulders –access to the water is still possible but launching kayaks or other small crafts can be difficult/impossible.
- Seasonally sandy –Sand moves. A lot. One day you will wake up and the sand will be three feet lower and the next day it can be four feet higher. Some beaches are seasonally sandy with the sand moving based on the predominant swell direction (Winter swells = swells from the W and NW. Summer swells = South swells)
- Rocky with access to sand –Some homes are built over the rocks but a small walk
- Beach key –There are several private beaches in Malibu. Little Dume,La Costa Beach club,Sea Level Drive are a few. Sometimes to the homeowner,it is not important to be directly on the beach that is the most important but rather it is having the access to the exclusive beach that can be more coveted.
6. It smells funny!
In Malibu,one aspect of the Point of Sale Ordinance 321 is that in order to transfer ownership of a house,one needs to provide evidence that the existing septic system is functioning properly with an operating permit.
In some homes,particularly the older ones,the systems are antiquated and do not pass the stress tests to indicate that the home has a functioning septic system. If the system does not pass costs to put in a new one can be between $80,000 to several hundred thousand!
Beach houses usually require retaining walls and even more engineering to protect the system from the relentless force of the sea.
If you are interested in buying a beach house be absolutely sure that you get a septic inspection done - Even if the home has an operating permit! Other agents will disagree with me on this. I have personal experience with saving clients hundreds of thousands on insisting they get systems with operating permits tested that have failed!
Call me for questions on this.
For more information from the City –click here:http://bit.ly/ImCIPd
Right now inventories are high and prices are very good so if you have ever considered buying a beach house now could be a great time! Just in time for summer!
If you have any questions regarding Malibu Beach front homes,please do not hesitate to contact me. I would be happy to answer any questions you may have! russellgrether@coldwellbanker.com or 310.589.2471
