Moving to Boca Raton FL soon
I am planning to move to Boca Raton area soon.
I would like to buy a 4 bedroom , 2 car garage home with swimming pool.
I am wondering how much property prices have appreciated in last 5 years.
Is it worth to wait for couple of years and hope to see market crash or just buy it now?
Thanks
Charles
Most Popular Reply
Hi Charles. I live in West Palm Beach currently and planning on moving to Boca within the next 5-6 months.
I've been watching prices and they seem to be dropping slightly at the moment. We're looking for a 5 bed, 3.5 bath home and seeing price drops of around $20k on homes between $425k and $550k.
If you're looking for deals, there are plenty of foreclosures available as well if you plan to occupy the property, but I'm not seeing a lot of good "deals" for flipping.
I don't know how familiar you are with Boca Raton and Southern Florida, but typically the lower priced properties require club equity membership of up to $70k up front and monthly HOA's can be as high as $800 plus the monthly membership dues of anywhere from $1200 to $2100 per month depending on the club.