Tampa Real Estate Blog

Top Tips for Buying Mansions for Sale in Tampa

Buying Mansions for Sale in Tampa, Florida

There's a reason the old realtor saying "location, location, location" is a cliche - because it's true! The other saying "home is where the heart is" comes in to play as well.

If you're a city girl, would you be at home in the country? Not likely! If you need to breathe fresh mountain air, is living next to a beach going to do it for you? Probably not.

"Location, location, location" couldn't be more relevant than when talking about mansions for sale in Tampa.

When you're in the market for a luxury home, where it's situated is key. But why is Tampa your perfect destination?

Tampa: Beautiful and Booming!

When people think of bustling cities in Florida, no doubt Miami is the first thing that pops into their minds. But actually, this makes Tampa even more appealing.

While everyone is rushing to Miami, Tampa remains a hidden "urban gem". The greater Tampa area has it all - gorgeous beaches, a renovated urban scene, and incredible real estate.

The thing is, others are starting to notice it, too. Tampa's real estate rank keeps climbing so it won't be long before this hidden gem is discovered!

If you want to get in on the ground floor of purchasing any mansions for sale in Tampa, you need our seven essential tips. Keep reading!

1) Do Your Homework

The first step towards buying a luxury home is to always do your research. It might sound a little boring at first but it's key to getting exactly what you want.

In fact, that's a great place to start - make a list of...

A Complete Guide to Buying Luxury Homes in Tampa

Luxury Homes in Tampa

Buying a luxury home may be the biggest investment you make in your lifetime. Making sure you make a purchase that is smart and financially responsible will give you peace of mind as you move into your new home.

From penthouses to homes with sweeping views of the water, options for luxury homes in Tampa vary widely. Not all luxury homes are priced over a million, you can purchase an incredibly luxury home for anywhere from 200k to 800k in Tampa.

There are many things to consider when choosing your luxury property. What are the amenities for your specific property? Does it have direct water access? Would you prefer a Tampa country home in a more secluded area?

We've done the high-end home research for you and have created the ultimate guide to buying the perfect home in Tampa:

1. Get Familiar With the Process

It is important to become search-savvy in your quest for a new home. The more the home costs, the more specifics a buyer probably wants. Being able to sift through hundreds of homes in a timely manner will save you both time and money. 

Eliminate the homes with the things you know you don't want or need by making your search specific. Not all luxury homes will be listed on your everyday home buyer sites or MLS. Be prepared to expand your search.

Consider a fantastic realtor or broker who specializes in your area and in luxury...

7 Tips For Buying Real Estate in Pinellas County

Real Estate In Pinellas County

If you like it when math doesn't add up, try this: the County of Pinellas in Florida is only 38 miles long and considered the state's second smallest country, yet it has 4,242 acres of landscape, 4,521 miles of roads, 35 miles of beaches, 588 miles of coast, 43 golf courses, 2,865 shuffleboard courts, and over 40,000 businesses.

With all that space, there is plenty of real estate in Pinellas County to be had.

Whether you want to buy near a beach, forest, or something in between, read these tips before you pack your bags.

1. Rising Tides

No, we're not talking about the cost of real estate in Pinellas County, but actual water.

Long-time Florida residents will have a wealth of knowledge for newcomers about flood insurance but there's one thing to know: you need it.

No, it's not necessarily required, and in many cases, homeowners can be surprised that they don't automatically have it in place, especially after a storm.

Don't be that person.

Instead, be like the Boy Scouts, and be prepared. Find out if your home is in a high-risk area, which could qualify you for National Flood Insurance. (The good news is, if you're not high risk, you may actually qualify for a lower-cost flood insurance policy offered by the federal government.) 

The idea is, get a policy to protect the real estate in Pinellas...

Is Getting a Home Mortgage Still Too Difficult?

Is Getting a Home Mortgage Still Too Difficult?

Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.

Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.

What Has Happened to the Number of Mortgages?

Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.

Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.