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the Florida condo market is facing a
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crisis once a dream for retirees and
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firsttime buyers it's now becoming a
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financial minefield let's explore why
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buyers are saying no thanks to condos
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and considering alternative options at
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Haron Condominiums in West Kendall
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Florida residents were recently hit with
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a $3.48 $48 million special assessment
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for mandatory building repairs this
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translates to about $13,000 per owner a
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shocking increase in monthly payments or
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a hefty onetime sum this isn't an
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isolated incident condos across Florida
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are dealing with rising costs due to
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stricter safety regulations and
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skyrocketing insurance premiums what was
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once a retireefriendly option is now
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feeling like a financial gamble the lack
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of transparency in condo associations is
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another major concern many residents are
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in the dark about where their dues are
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going which doesn't inspire confidence
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in potential buyers as a result condos
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are losing their appeal especially for
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retirees on fixed incomes and young
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couples looking for their first home but
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where are these buyers turning instead
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enter manufactured homes or mobile homes
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once dismissed they're now having their
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moment in the Florida housing market why
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they offer a much more affordable way to
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own property in the Sunshine State
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mobile homes allow buyers to avoid
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exorbitant condo fees and face lighter
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insurance burdens there's no fear of
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surprise costs for maintenance or
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reertification with the median price of
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a manufactured home at
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$175,000 as of 2024 it's easy to see the
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appeal these communities often come with
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resort-like amenities pools golf courses
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clubouses and plenty of activities but
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what about insurance and fees
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surprisingly mobile home insurance is
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often cheaper than condo insurance
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typically running between
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$1,394 a year this is because you're
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insuring your own unit not a massive
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shared building while mobile homes don't
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usually have HOA fees they do have lot
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rents these range from $400 to 1,200 a
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month often covering utilities and
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maintenance for many this is a more
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manageable and transparent cost
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structure beyond finances manufactured
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homes offer a shift in lifestyle they're
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smaller easier to manage and perfect for
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downsizing plus these communities often
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foster a sense of togetherness that many
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appealing manufactured homes are also
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stepping up in terms of eco-friendliness
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with many featuring solar panels smart
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thermostats and low energy appliances
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they're not just affordable but
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forwardthinking too ever wondered why
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your dream Florida condo might turn into
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a financial nightmare imagine waking up
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to a surprise $13,000 bill that's the
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reality for some condo owners is it time
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to rethink the American dream in the
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sunshine state let's recap the key
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points about the changing Florida
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housing market first Florida condos are
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facing a crisis with unexpected
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assessments and rising costs making them
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less attractive to buyers second
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manufactured homes are emerging as a
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popular alternative offering
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affordability and predictable costs
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third mobile home communities often
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provide resort-like amenities and a
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sense of community appealing to both
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buyers lastly manufactured homes are
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becoming more eco-friendly and
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technologically advanced meeting the
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demands of modern home buyers thank you
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for joining us in exploring Florida's
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housing market when choosing a condo or
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mobile home make sure it fits your
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lifestyle covers unexpected fees like
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assessments and insurance and stays
