If you’ve ever visited Sanibel, you will know just how special time on the island can be. It is the type of place that attracts repeat visitors and families who come for the sanctuary quality of the island. In addition to the amount of conservation area on Sanibel, the island is ranked as one of the best shelling beaches in the world. This is one of the reasons why investors look at real estate on Sanibel for their next investment. Whether you want to expand your investment portfolio or experience island life, these are some things you should consider before buying property on Sanibel Island:
- Single-family home versus condominium. Perhaps one of the most important questions to answer when investing in real estate in Sanibel is whether you want a single-family home or a condo. If cash flow is your main concern, a condo that allows for shorter rentals may be a good choice. However, if you want a property that you can move into sometime in the future, then a single-family home might be a better option.
- Another consideration when buying Sanibel real estate is whether you should invest in a fixer-upper or buy a turnkey property that doesn’t require as much additional work. The advantage to a fixer-upper property is that you might be able to purchase it at a lower price and remodel or make updates to increase its value and rental potential. Turnkey homes, on the other hand, generally mean less work and have the potential for better rentals.
Mike Badenoch, Exclusive Buyer Agent 