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Tuesday, May 01, 2007

Condo Purchase in Florida - May 2007



The unit I purchased is a ground floor end unit. 3 bedroom, 2 baths, granite countertops and a largish heated pool. This is a nice condo but not a top of the line one, for instance there is no patio or garage and the bedrooms are about 12 x 11 1/2. I don't need 3 bedrooms but it is easier to resell a 3 bedroom rather than a 2, so I am just planning ahead.
For some time I have been interested in having a condo in Florida. I looked in the St. Augustine/Jacksonville area a few years ago and saw nothing of interest.

Then there were 4 hurricanes hitting Florida the same year and I gave up on the idea for a bit. I wintered in Panama City this past year, renting a 1/1 condo for 7 months and while there I looked again and came up with this new condo development.

I decided to make an offer and got it at what I consider a favorable price of $165,900 which was $4,000 less than was asked, so I am now a condo owner in PC.

These are some interior shots of the place before I put in furniture and generally get it messed up.

I took out a Home Equity Line of Credit Loan against my fully paid for home in Kennesaw so that I could pay 'cash' on this unit rather than go for a conventional mortgage and all the paperwork that would go with it.

I found that my 'credit score' was a 772 which is considered to be 'excellent'. Always nice to know.

I plan to spend about six months here and six in Kennesaw.

Now I have to get some furniture arranged for and have been going to various local stores. I will most likely spend about $5,000 on stuff for the place living room, 1 bedroom, office stuff for the 2nd bedroom and a washer and dryer. I will not furnish the 3rd bedroom and the 2nd bedroom will be an 'office'.
I am considering a roll top desk and chair for the dining area as I don't have any use for just a table and 4 chairs sitting there. I don't know 3 other people and if I did the chances are I wouldn't want them hanging around my dining room anyway.

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