Boca Raton Florida Real Estate Market

Boca Raton used to be a small agricultural community in Florida where winter crops were produced because of the great climate experience all through out the year. In the 1920’s, the exclusive hotel project initiated by Architect Addison Mizner gave birth to the tourism industry that the community became known for.  Tourism paved the way for incorporating Boca Raton as a town in 1925.  And in 1960’s, with IBM, the economic and business development period for this town started to flourish.

Located in South Palm BeachFlorida, Boca Raton is a great place to live in because of the police, fire-rescue and municipal services provided.  With a 5 mile stretch of beautiful beaches, the 29 to 30 square mile land is filled with ocean front buildings, malls with high fashion designer shops, gourmet restaurants, parks where you can ride a boat, go fishing and enjoy water sports, museums with interactive exhibits, entertainment venues with cultural performances and activities, sports and recreational canters, and a great real estate.  All these are supported by good utilities systems.  Boca Raton also offers a competitive educational system and with the proximity of the FloridaAtlanticUniversity and the LynnUniversity, the residents have opportunities to pursue a better education.

Do you think owning a house in Boca Raton is just a dream?  Certainly not.  You can enjoy all the comforts by making the right decisions.   Do you want a newly constructed house or a foreclosed one?  How much money are you willing to invest in buying your home?  Do you think you need the services of an agent or can you do the scouting yourself?  If you think your financial resources is not sufficient, how do you plan to acquire enough to buy your dream home?

A current listing shows your choices for a budget of US$200,000  varies between  a single family detached house with 4 bedrooms and 2 bathrooms or a condominium unit with 3 bedrooms and 2 bathrooms or a townhouse with 2 bedrooms and 2 bathrooms.   Whether you prefer a newly constructed house or a foreclosed home, the purchase price includes other costs that will be part of the total acquisition cost. Suppose you do not have enough money to purchase in cash,  you may apply and avail of a home financing program offered by banks or by the real estate company you are dealing with.  However you should be eligible to have a loan approved.

How does one become eligible?  Be of good credit standing at least for the past 2 years.  During this period you should have established your credibility as a good steward of your finances.  After a background check, your income will be used as basis for the amount of monthly amortization. Note that there are finance charges that will be inclusive in the amortization. Once they decide on this and you agree to the terms, then you get your loan approved and you have a house in Boca Raton where you can enjoy living.