When you have decided to buy property in Maui, it is very important to find a good realtor instead of trying on your own. Realtors have so much experience since they are in this field and they invest maximum efforts to make their customers happy and content. They know how to deal with any specific situation.
When you are searching for condos for sale in Kapalua and struggling to find an ideal realtor who is successful here, choose Maui Elite Property. Being an individual realtor, he can provide you the best sales statistics, offers, information about neighborhood, and guide you through the transaction.
You know very well that buying property needs a down payment. The more you make the down payment the lesser will be the monthly payment for your mortgage. Start by designing your budget. Find out how much you can pay monthly taking into consideration your monthly expenses, house repairs, and other unforeseen expenses.
Be realistic when you plan your budget for buying a property. Apart from the purchasing price, there are permit fees, utility costs, condo fees, property tax, insurance, property management fees, and professional cleaning, etc.,
While buying property in Maui, you should know that property zoning is crucial. Zoning has a direct impact on your ability, as an owner, to use the property as you wish especially if you are planning short-term rentals. Zoning provides a way to well-managed, well-projected growth in Maui properties.
For properties in Maui, the monthly maintenance usually covers almost everything like insurance, water, sewer, garbage, cable, common area maintenance, and sometimes electricity. It may be range from $250 to $1000.
Buy a property that is not too far from the beach and make sure that restaurants, grocery stores, gas stations, and banks are easily accessible from your property location. Since visitors will be looking for rentals that are nearby amenities, popular attractions, and activity locations.
There are two types of ownership for Maui properties, Fee simple, and Leasehold.
As the term implies, fee simple provides you absolute and complete ownership of the property. He can sell, lease, trade, or gift it to another person.
On the other hand, leasehold provides you ownership of the property but it is a kind of long-term renting and the lease term can be around 50 to 99 years. The main benefit of this type of ownership is that the properties are less expensive than fee simple ownership.
A parking stall is an important asset when you want to buy a condo in Maui. You need to make sure if your car will fit in that space and there is enough space to get in and out of your vehicle. Make sure to confirm whether the particular parking stall is legally assigned to the condo that you buy to avoid future parking problems.
Policies For Pets
In Maui, each complex has different types of rules that allow or restrict some pets and there are also restrictions on the number of pets that can be allowed. If you are a pet lover then you have to check with the policies regarding pets so that you can provide a comfortable place for your pet.