Tips For Buying Affordable Bonita Springs Real Estate 2016
Today was Pennsylvania day … as in most of my buyers calls were folks from the Keystone state looking for Bonita Springs real estate. This is an oddity this time of year. The geographical phone call phenomenon usually happens in the winter when it is cold out, typically when there is a blizzard, and a whole state is dreaming about living on Bonita Beach. Today, I had more than one set of buyers looking for what would be considered affordable real estate in the Bonita Springs area. First, I agree up front that $200,000ish is a lot of money for a home. Second, it’s a fact that that price point does not buy a lot in this area, especially new or newer homes in Bonita Springs, Florida.
Here’s what I advise any buyer who is in this predicament who finds themselves disappointed in the recent uptick in the real estate conditions in Bonita Springs. 1. You have to either adjust your budget or your expectations if you want to purchase in Bonita Springs. 2. You may have to purchase north of Bonita Springs, for example Fort Myers, in order to find the type of real estate, be it a home or condo, that will intersect your budget with your wants and needs list.
There are some fine condos and homes that could become available in Bonita Springs and Estero but you have to be ready to purchase and watch the real estate market diligently to snap one up. That means you have to study, study, study the housing market in Bonita Springs so you know, with certainty, that you’ve found the right property when it does show up. At this time, you’re likely going to have to do a little cosmetic work to a $200,000ish condo in the Bonita Springs area. There are only a hand full of homes under $200,000 in the Bonita Springs area and most won’t qualify for financing due to the condition of the homes. (as of July 2016)
Continuing on, you also have to have proof of liquid funds, in your bank account and be able to provide that proof or proof of financing from a reputable, (please let it be) a local recommendation, lender who has thoroughly reviewed your assets/debts and run your credit. Your Realtor is going to have to defend your lender and “sell your lender” to the listing agent and that’s why it need to be an experienced, reputable, local lender and not an internet wing-nut.
The alternative to buying a resale home in Bonita Springs or Estero is purchasing new north of the area, Fort Myers, North Fort Myers or Lehigh Acres. Geographically, those homes and condos may be in decent proximity to the airport but the beach will likely be further away. Not to worry, the same warm temperature will be available at the community pool and you will be purchasing a home requiring less maintenance and elbow grease than a resale. If you’d like to weigh your options, here are a few links to compare:
Newer Homes in Fort Myers $225,000 and under and Affordable Bonita Springs Properties $225,000 and under. In the Bonita Springs link none of the homes or condos are new product. There are a few newer/new townhomes in the mid and upper $200,000’s if you’re curious - Cordera and Copper Oaks.
Just a few minutes north of Estero in S. Fort Myers is Creekside Preserve which would be the next closest housing available that would be new/newer and a stone’s throw to Bonita Springs and Estero.
Always remember that many of our developers and builders offer the same product in other neighborhoods, too. For example, if you have always loved the homes built in Hawthorne, Caravella at Palmira or Shadow Wood at The Brooks remember that the exact same floor plans may be available in Emerson Square, Crown Colony and other locations at more affordable prices.