Would you buy a beach condo in pcb right now?

Question

Shores of panama condo in pcb looks great with a nice lagoon style pool area and right on the beach. But the prices are crazy hot right now. Would you buy a condo for str in pcb right now or wait it out in the fall season / covid to cool the market a bit

John Underwood · Answer

I would buy a SFR house over a condo.

The reason is, when I go on vacation I have seen condos go for cheap because there are so many of them. Competition drives the price down. The inverse is true for beach front houses.

Xiaoshuang Zhang · Answer

Usually I would rather own a sfh than a condo, but in this area I suspect a high rise would weather a hurricane better than a standalone sfh. 400k price point on a condo that has gross revenue projection of 50k seems excessive though

Kyle Momany · Answer

@John Underwood Has got the right idea! But it all comes down to the numbers & for some of the units at The Shores of Panama they look fairly decent. Would you rather own a home or a condo? What's your long term goal? What are the returns on each? What's your price point? Would you want to vacation with your family here? Answering just a few of these would help you better understand what suites your needs.  Best of luck to you!

Nancy Bachety · Answer

Unless your direct view beach front condo is on the 5th floor and right next to The Ritz Carleton and single family homes are out of the way. Are you privy to a fall drop in prices? Today, not tomorrow, if the numbers work.

Joshua Strickland · Answer

Yup!

Luke Carl · Answer

Sure why not?

Would you buy a beach condo in pcb right now?

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