Buying your first home is a huge undertaking. It will probably be the biggest investment you ever make. A successful home buying decision depends in large part on whether or not you buy the right kind of home for you.
There are plenty of different types of houses for sale in St Petersburg FL. We’ve described them here along with advantages and disadvantages to them as well as general information about the area housing market, and examples of what you will find in the median price range.
General St. Petersburg Housing Market Information
- Median Home Listing Price: $287,000
- Median Home Listing Price Per Square Foot: $216
- Median Home Sold Price: $248,000
- Median Days on the Market: 70
- 59 neighborhoods in St. Petersburg
- 2,772+/- homes for sale from $7000 to $8 million
Source: Realtor.com
Detached Single-Family Houses for Sale in St Petersburg FL
Single-family homes are free-standing and usually built on lots that are larger than the house. This means you will have a yard. Single-family homes are great choices for families and homeowners who have the time to maintain them.
Pros: You own the house and the land it sits on. As long as you comply with any zoning and community restrictions, you can modify it to your heart’s content.
Cons: You have to mow the lawn, spray for pests, and repair the roof on your own dime.
Example: New construction home. 3 bedrooms, 2 baths, 1398 sq. ft., open floor plan, vaulted ceilings, custom cabinetry, convenient to shopping and beaches. List price: $275,000.
Condominium Houses for Sale in St Petersburg FL
Condos are a lot like apartments in that you are living in a communal building and share common walls, floors, and ceilings with your neighbor. The difference is that you own the condo outright and have the right to sell it if you decide to move.
Pros: You don’t have the maintenance responsibilities of things like mowing your lawn and repairing your roof. Most condominium complexes have onsite amenities like pools, exercise and party rooms, and security.
Cons: Privacy can be an issue. In addition to your mortgage, you pay monthly homeowner’s association fees to maintain common areas. There are association rules that may have all kinds of restrictions.
Example: Waterfront style resort community. 1 bedroom, 2 baths, 825 sq. ft., fully furnished, yacht club, fishing pier. List price: $280,000.
Townhome Houses for Sale in St Petersburg FL
Townhomes are connected to each other by common walls and can have shared driveways. Unlike the little cookie-cutter townhomes of the past, today’s townhomes are often spacious and have open individual floorplans.
Pros: You have a small yard and more privacy than a condo affords. Townhome communities often have onsite pools, exercise rooms, clubhouses, and golf courses.
Cons: Like condominiums, townhomes are attached, so you and your neighbors may be able to hear each other. You are responsible for your yard although common areas are taken care of by the community association. You can be assessed to help fund repairs on common amenities like parking areas.
Example: 3 bedrooms, 3 baths, 1,990 sq. ft., open living concept, granite countertops, split floorplan on 2nd floor, backs up to a conservation lot. List price: $305,000.
Co-op Houses for Sale in St Petersburg FL
Co-ops, or cooperatives, are like condominiums except you don’t own your individual unit. You own shares in a corporation. This gives you the right to live in a unit under an occupancy agreement or a proprietary lease.
Pros: Since you don’t actually own your unit, the co-op choice can be more affordable than a condominium. The cooperative board has all decision-making rights including who buys into your building.
Cons: You can be evicted by the co-op board just as if you had a landlord. The board has the right to reject a buyer without cause which can make it more difficult for you to sell your shares. The board can refuse to allow you to sublet. Association dues are often higher than condominium dues because real estate taxes and utility charges are included.
Example:1 bedroom, 1 bath, 628 sq. ft., National Historic Register building, downtown St. Petersburg, rooftop terrace. List price: $175,000 cash.