When I research condos for clients, I ask 3 questions. 1) What is the purpose for your condo purchase? Personal enjoyment, investment, business and pleasure, personal residence 2) How much money are you prepared to put as the down payment? IF you finance, most lenders require 20-25% down and they will normally finance for 15 years and most will only offer an adjustable rate. IF you are wanting the rental income to pay for the expenses of owning the unit, including mortgage payment, you will be required to put down 40%. 3) There are 3 distinct areas with different flavors of Panama City Beach: family oriented, condo canyon (think spring break) , and the secluded west end. Which is your preference?
By answering these questions I can guide you to projects that are more suitable and will ensure a greater enjoyment of the unit after the purchase. I can also steer you away from selecting a unit that cannot be financed because of the poor financial performance of the HOA.......please call so I can help you with my years of experience....thanks.