Category: Real Estate

What You Need to Know About Condo Property Tax

Post author By jdotoli13
Post date October 14, 2021

Did you know that most condo owners pay their property tax divided into 12 equal parts included in monthly mortgage payments? For new residents or those who’ve just bought, there might still be some confusion with how this differs from traditional properties. Let me clear things up for you.Tax season is coming up, and it’s a good time to think about collecting any relevant documents sent by your lender. So they can be reported on Federal income taxes. Here is what you need to know about condo property tax.

Do Condo Fees Include Property Taxes?

The short answer is that condo fees can cover many living expenses such as landscaping, maintenance, and emergency work. But they do not include property taxes. Condominium (or ‘condo’) co-operative fees are expressed in monthly terms. For many condos, the main expenses within these fees include property taxes. Utilities (water and sewer charges), building insurance, administration costs (including legal, accounting, and management fees), maintenance, repairs, and capital replacements.

Do You Have To Pay Property Taxes On A Condo?

The property taxes on condos are similar to those for townhouses and single-family homes. The factors that determine how much you pay. Like the size or location of your home, will also affect the amount owed in rates with a standard rate set by the city council.

How Are Property Taxes Calculated On A Condo?

Since property taxes are based on the value of a condo itself, they can vary greatly. Depending on the size of your condo or the location of the building you live in will affect how much you pay for condo property taxes.

For example, if your home is worth less than $500k then there will be much lower annual bills due to discounted rates that come into effect. Re-assessments happen every few years.Where an updated appraisal takes place and is used to determine the new taxable value of your home.

How Much Is Condo Property Tax?

The answer to this question is dependent on so many factors. Like a traditional house. property tax varies between owners depending on their specific situation and location within the country where they live. However it can be difficult if you don’t know what exactly your league is in regards to other similar properties. Because then there will always seem like an “exact” amount that needs to be paid every year without taking all aspects into consideration-. Like cost of living expenses which may differ greatly.

In order not to get caught up paying more than necessary for something as basic yet important (house/condo). Consider looking at assessment values online before making any decisions regarding recent purchases or renewals.

Is It Lower Than Townhouse Property Tax?

You might be able to save money on your property taxes by purchasing a condo or townhouse. This is because the cost of buying and maintaining land is not included in these properties. So you’ll only pay fees for what’s inside. Townhouses also don’t have an extra space fee like traditional houses do. Which means they’re cheaper than those too (as long as there aren’t any amenities).

Conclusion

When it comes to buying a condo, you need the right team on your side. For years, DOTOLI Group has been helping individuals and families buy and sell their dream homes. Who you work with matters, so trust in us and leave it to the experts. We are ready to provide you with a one-of-a-kind real estate experience! For more information on buying or selling a condo in South Florida Call or TEXT 954.290.4793 or Email Info@DotoliGroup.com.

Real Estate

7 Benefits of Owning a Condo in South Florida

Post author By jdotoli13
Post date October 14, 2021

If you love sunny beaches, tropical weather, and living in a culturally vibrant area, then South Florida might be the place for you! The coastal peninsula beaches are perfect for a little R&R. Condo owners can enjoy an array of outdoor activities, including surfing, fishing, and snorkeling along the emerald coastlines. They may even explore hiking through lush nature trails, tour historical museums, or spend the day shopping and dining at some of the most exclusive venues in town. Year-round warm temperatures and gorgeous scenery are only one of the many reasons people choose to own a condo in South Florida. Aside from the waterfront activities, South Florida offers extensive shopping, dining, and entertainment venues. These are all features of people’s urban lifestyle, from owning a condo in South Florida.

The condo market in South Florida is rich in inventory. The cost of living in South Florida has never been higher, and if you’re looking for a good deal, then I have some news: condos are available at unprecedented low prices.

Here is a list of 7 Benefits of owning a condo in South Florida

You Can Enjoy The Beach Anytime You Want

South Florida offers a variety of beaches for you to enjoy, whether it’s sunbathing on the Key West shore or swimming in crystal-clear waters. Beaches like Palm Beach and Naples offer stunning scenery. You can find pristine white sand beaches as well! At the same time, South Beach is known primarily because it’s a glamorous atmosphere with rolling waves that attract vacationers worldwide.

A Condo Can Be A Lucrative Investment

If you’re looking to buy a vacation luxury condo that will only be lived in during the summer months, it may make sense for renters and owners alike. You can rent out your place or offer it up as an investment property-the choice is yours! Many condo owners rent their units out seasonally during November through March. These are prime months to earn a premium in rental income while not occupying your residence.

You Have A Greater Sense Of Security

The proximity you will feel living in close quarters with others also bodes well for your sense of safety! Most condominiums are gated and have security guards. This lowers the likelihood of intrusions, burglary, or encountering any other type of unwanted visitors by providing an almost self-enclosed environment that is safe from outsiders’ influence.

Florida Is A Tax-Friendly State

Florida is a state that has been attracting retirees and investors from all around the country. One reason for this high level of migration could be Florida’s lack of income or estate taxes.

You Have Fewer Maintenance Concerns

If you own a condo in South Florida, it means that your only responsibility is to maintain the interior. You can enjoy outdoor living space without worrying about any of those pesky lawn care details! All of the building amenities and common areas are maintained by the HOA ( homeowners association)

Conclusion

After reading this post, you should better understand the benefits of purchasing a condo in South Florida. At Dotoli Group, we pride ourselves on providing excellence in customer service with every transaction. If you’ve been considering buying or selling property in South Florida but aren’t sure who to trust for an honest opinion about your options, contact us today for a free no-obligation consultation. We can answer any questions you may be having and help guide you through the purchase process. Who you work with matters! Call or email us today at 954.290.7993 or Info@dotoligroup.com.

Real Estate

Luxury Fort Lauderdale Condo: What To Look For

Post author By jdotoli13
Post date September 21, 2021

Many secondary homeowners have sought out Luxury Fort Lauderdale Condos as their home away from home. There are many benefits to living in a condo. Security, Convenience, low maintenance are the most prominent factors due to the turnkey nature of condo living. However, it is essential to be aware that there are also different considerations when you’re thinking about buying a condo for the first time. This blog post will discuss considerations when looking at a luxury Fort Lauderdale condo and how they differ from single-family homes in Fort Lauderdale.

Homeowners Association ( HOA)

If you think of buying a condo, it’s imperative to understand the role of the Homeowners Association. Homeowners design HOA’s organizations to help protect the condo’s integrity and the homeowners’ rights who live within that vertical community. The HOA serves as the backbone of the infrastructure of all day-to-day operations within the building. Before buying a luxury Fort Lauderdale condo, it’s best practice to investigate and research the HOA’s legal history concerning taxes, reserve funds, pending lawsuits, etc. Every condo owner must know their association’s situation to plan accordingly for future financial obligations or possible renovations!

Investigate the financial integrity of the HOA

Knowing if the building has the financial means to afford necessary upgrades or renovations is a crucial component of a buyer’s decision-making process. The rule of thumb is that a financially healthy HOA deposits 10% a year from their operating account into a reserve account. This information will also serve a purpose when it’s time to get a loan. Banks want to ensure the building is in a good financial position before they loan their money out to potential buyers.

Decision-making process

Another element to be considered in your decision-making process is to evaluate your neighborhood! Just because it’s a vertical community doesn’t mean you won’t be interacting with your neighbors. When searching for your perfect Luxury Condo, it’s important to understand what type of people live in the building and their lifestyle. For example, if children live on all floors except yours, you can expect a few sleepless nights. If the building is primarily an older demographic, you can expect things to be quiet for the most part and don’t plan to throw any late-night parties. Another great tip is to visit the building at different times during the week. Morning, late afternoon, early evenings, and weekends are the best way to get a feel for the atmosphere in the building.

monthly maintenance fees

Understand the monthly maintenance fees. Monthly maintenance fees are paid in addition to your mortgage and taxes obligations. These fees are often higher in Luxury Condo communities compared to single-family home communities. The maintenance of shared amenities, such as gyms, pools, 24/7 valet, security detail, are calculated into the monthly fee. These fees can vary considerably from building to building. The price will depend on many factors, such as the age of the building, amenities provided by your community, location, and square footage of the condo unit. These monthly maintenance fees, which are paid to the Homeowner’s association, are designed to cover expenses related to areas that need shared maintenance like hallways, elevators, concrete roofs etc. HOA Rules & Regulations. It’s vital to evaluate the rules and regulations of the Homeowners associations before buying in the building. These rules and regulations can be provided by the realtor or the association for a small fee.

Financing a luxury condo in Fort Lauderdale is quite different from financing a single-family home purchase. Regarding financing, lenders have strict guidelines that vary depending on the lender and their requirements for who they will fund your purchase, but there are some general rules! Your lender will require the building to fill out a condo questionnaire. This provides the necessary feedback the bank needs to determine the loan product that’s available to “You” the buyer. The lender looks for a financially sound building along with the allowable owner/renter concentration and other measures that will help qualify the type of loan to be used for your purchase.

Luxury Fort Lauderdale Condos provide an excellent investment opportunity for those looking to buy a turnkey vacation destination in one of the hottest real estate markets in Florida. To avoid any unpleasant surprises, make sure you are working with an experienced realtor. DOTOLI Group has helped hundreds of Luxury Condo Owners in Fort Lauderdale successfully find their dream home. For more information on which Fort Lauderdale Luxury Condo buildings have the best financing options call Josh at (954) 799-6403 or email us at Info@DotoliGroup.com

Real Estate

Why Should I List My Condo With Dotoli Group?

Post author By jdotoli13
Post date September 15, 2021

If you are asking yourself Why Should I List My Condo With Dotoli Group? Dotoli Group utilizes industry-leading marketing strategies that enable us to promote your home to an audience that is willing, able, and capable of purchasing such an exclusive product. We understand that one-half of one percent of the real estate consumer audience can afford a property of such value. Therefore, we have mastered the art of marketing directly to that particular audience and the individuals that influence. Those individuals’ decision-making processes (CPAs, accountants, attorneys, fund managers, etc.).

Analytical data shows that The Dotoli Group consistently generates between 8-10k unique visitors per month. Approximately 90% of that audience is composed of the Top 10% of income earners nationwide.

DotoliGroup.com’s audience consists primarily of a 45-65-year-old male demographic, the average age range of individuals who purchase multi-million dollar homes.

Why Should I List My Condo With Dotoli Group? Below is an outline of strategies that Dotoli Group utilizes to generate traffic specifically for buyers of million-dollar homes:

High Net Worth Audience Targeting

Is the foundation for all of our luxury marketing initiatives. Through third-party data aggregates. We advertise your home to individuals across the country who are in the top 1% of income earners. Refined data targeting allows us to reach people online that show signs of particular behavioral interest. For example, we can target those looking for movers. People actively browsing real-estate-related content, or yachting and boating content. Even people who recently searched for multi-million dollar listings in South Florida.

Custom Content Creation

We understand what consumers at this level are searching for online. There is no secret that everyone’s online behavior is trackable. Therefore we write custom blog content and submit that through a vast publishing network that targets affluent individuals who have similar behaviors to other luxury waterfront property owners.

Google AdWords Targeted Ads

Where the searcher is actively looking for a keyword related to your home. For example, “luxury waterfront homes on the Intracoastal in Fort Lauderdale.” We dominate this space by ensuring your listing is advertised at the top of the search engine.

Email Advertising

This is NOT email marketing. People spend, on average, 6.3 hours per day checking email—that’s more time than spent on Facebook or watching TV. Dotoli Group partners with Liveintent, a unique unduplicated source for premium native and display advertising inventory. LiveIntent is the only supply vendor to advertise within email newsletters from premium publishers like The Wall Street Journal. Target, Women’s Health, and more. The process consists of generating a custom-designed banner advertisement “Just Listed” with a photo of your home placed on the top fold of weekly email newsletters from companies like Cnet, Biz Journals, WSJ, Better Home & Garden, and hundreds more alike. We even take it one step further by only advertising on newsletters delivered to individuals with behavioral propensities. The financial integrity that fit the target audience criteria.

Location-Based Targeting

We refer to this as Geo framing. Geo framing collects mobile and local device IDs from users who have entered a predefined location at a specific time and allows you to target those users later on after they’ve left. For example. DotoliGroup would create a strategy that will enable us to market your listing to any individual who has visited any real estate office located in Broward or Dade county within the past two months. And yes, we can separate that audience from clientele. Aka potential buyers and the actual realtors who work in those offices. We can also advertise your listing to every homeowner that lives in a waterfront home on the entire Intracoastal waterway. Exposure to the right audiences is the key to our marketing success.

It’s time to think outside the box. Suppose you want your home marketing efforts to be successful. In that case, you must work with a professional who understands how buyers find homes these days. They have tailored their marketing strategy accordingly. Dotoli Group utilizes innovative marketing strategies to showcase your property to willing, able, and ready affluent buyers. With years of experience in market research and data-driven marketing strategy development paired with over 100 million dollars. In closed transactions in the past 12 months–you won’t find anyone better than DOTOLI Group. Contact us today at (954) 799-6403 for more information about our innovative strategies and comprehensive services, or visit paramountresidences.net.

Real Estate

Paramount Fort Lauderdale 5 Star Amenities

Post author By jdotoli13
Post date September 3, 2021

Paramount Fort Lauderdale Beach is a new oceanfront luxury condo development with 5-star amenities. It is located in the heart of Fort Lauderdale Beach and has everything you need to enjoy paradise. The Paramount’s location makes it easy for house to explore all Fort Lauderdale offers, including the beach, world class restaurants, and shopping on Las Olas Boulevard. Paramount Fort Lauderdale is a sleek, luxurious 18 story boutique beachfront condo that consists of 85 Tower Residences,6 Townhomes, 4 Penthouses, and 95 Total condos. The building features one-, two and three-bedroom residences with floor plans designed for today’s living needs. Residents will be able to take advantage of an oceanfront pool, fitness center, spa and relaxation rooms, coffee and business lounge, and more! See why so many people are choosing this as their utopian oasis!

Home Features

Experience a level of sophistication that is second-to-none here at PARAMOUNT Fort Lauderdale. All residences come with a full arsenal of innovative home features to make your life easier and allow you to take control of your home environment truly. We bring this convenience right into your apartment with our innovative smart tech features. These include Subzero temperature-controlled wine storage, UV reduction Glass, Nest thermostats, high-end Subzero, and Wolf & Bosch appliances.

Enjoy our state of the art Oceanview saltwater pool with separate lap lanes or work out in our state of the art fitness centers. Indulge in his and her spa facilities with private massage rooms and steam showers, or spend your mornings at the in house coffee bar and Business Lounge.

Other residence features include:

Ocean, Intracoastal, and City Views
10-foot ceilings
Spacious outdoor living areas
Semi-Private elevator access with private
elevator lobby
Gourmet chef’s kitchens with Italkraft Cabinetry,
quartz countertops, and marble backsplash
Top-of-the-line appliances from Subzero,
Wolf & Bosch
Subzero temperature controlled wine storage
Luxurious marble baths with spa tubs and rain
showers
Standard technology includes integrated Sonos
speakers & Nest Thermostats
One storage unit 4′ x 4′ x 10′
Two parking spaces per accommodation in the state of art garage by Park Plus
An owner may lease their accommodation once per year.
Leases must be a minimum of 12 months.
Residents must own for 2 years before being able to rent their unit.

Amenities Designed

At Paramount Fort Lauderdale, you can expect various amenities designed with luxury and comfort in mind. There will be an ocean front restaurant (coming soon), 24-hour valet parking, fully automatic garage entry system that includes access to the private club room complete with a dining area and prep kitchen. For guests looking for more fun on the property, a poolside food/beverage service is available, along with beachside chair rental services.You’ll also find state-of-the-art fitness center facilities, including his & her locker rooms equipped with steam showers as well as spa treatment areas for massages or other relaxation therapies.

PARAMOUNT 5-star amenities give you an experience that you will love.

To schedule a tour, call Josh Dotoli or email Info@dotoligroup.com for more information.

Real Estate

What To Consider When Buying A Condo

Post author By jdotoli13
Post date August 31, 2021
No Comments on What To Consider When Buying A Condo

In today’s highly competitive condo market. Many developers are trying to sell condos by creating new and creative amenities for buyers like never before. They do this because they know that most people want a unique product in an area with high competition from other developments. The quest to create something different has led many architects working on these projects to develop designs that stand out above the rest. Such design elements include adding common space facilities (like gyms) or services (Beauty Salons) not found in single-family houses nearby. It’s all about making life more convenient and offering what everyone wants. In this article, we will talk about what to consider when buying a condo.

Developers have found creative ways to provide amenities for condo dwellers that go beyond the usual fitness centers or pools. Examples include:

Daycare programs.
Guest suites.
Children’s playrooms.
Access to a personal concierge service allowing residents use of an in-house babysitter or even on-demand housekeeping services.

Condo Buyers

Even though condo buyers are gravitating towards smaller spaces. Developers have learned to make excellent use of the total living area. New condo buyers can reap the benefits of state-of-the-art amenities without feeling like their giving up living space. The amenities become part of one’s daily routine. Many Luxury developers are building condos that feature 5-star restaurants, beauty salons, rooftop soccer fields, even Ice-Skating rinks.

Social rooms are becoming popular among younger buyers. Who like to have friends over, meaning they no longer need to entertain them within their suite exclusively. Many mid-rise condos also offer landscaped rooftop terraces with ample patio furniture and BBQ grills for socializing outside on the roof.

Car and bike-share programs are also becoming popular features within vertical communities. These programs allow residents to book a vehicle or bicycle on-demand without the costs of ownership. These users benefit from carpooling and cycling while avoiding parking headaches in crowded cities like Miami.

Luxury Buildings

The amenities available in some of the higher-end luxury buildings can be overwhelming; therefore, before you make a purchase think about how important each building amenity is to you. If you don’t foresee yourself using the facilities regularly, they may not be worth the extra money of having them included in your monthly maintenance fee. An indoor track or tennis court may sound prestigious and exclusive, but not utilizing them will cost you more money.

Condo Living

Condo living is essentially synonymous with convenience. People choose to live in condos in areas where people work, socialize, and play. All within a short commute distance from each other. Having every feature and facility under one roof seems like less effort than having to travel between different places for errands or exercise. Thus, most condo complexes boast their fitness centers and parking garages along with many others.

Whether you want prestige or pragmatism, today’s market is chock full of options for buyers like yourself! Everyone has their preference, so it’s up to your which amenities are most important. For more information on what to consider when buying a condo and which buildings are best suited for your needs in this competitive condo market, contact Josh Dotoli, Principal-agent with DOTOLI Group.

954.290.4793

Email: Josh@JoshDotoliGroup.com

Do Condo Fees Include Property Taxes?

Do You Have To Pay Property Taxes On A Condo?

How Are Property Taxes Calculated On A Condo?

How Much Is Condo Property Tax?

Is It Lower Than Townhouse Property Tax?

Conclusion

Here is a list of 7 Benefits of owning a condo in South Florida

You Can Enjoy The Beach Anytime You Want

A Condo Can Be A Lucrative Investment

You Have A Greater Sense Of Security

Florida Is A Tax-Friendly State

You Have Fewer Maintenance Concerns

Conclusion

Homeowners Association ( HOA)

Investigate the financial integrity of the HOA

Decision-making process

monthly maintenance fees

High Net Worth Audience Targeting

Custom Content Creation

Google AdWords Targeted Ads

Location-Based Targeting

Home Features

Amenities Designed

Condo Buyers

Luxury Buildings

Condo Living

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