Your South Padre Island, TX Real Estate Experts
We here at NextHome on the Coast have always had a different approach on how to best market and sell in a primarily second home market. Communication, marketing and the experience of your hired professional are key. Every aspect of our company is geared towards our client’s needs first.. so there’s no surprise as to why NextHome is the fastest growing franchise in the nation.
Whether you’re a first time buyer or an experienced investor, you’ll find useful information about how to choose the “right” property, making an offer, negotiating, financing, mortgage rates, moving, and everything involved in making an informed home buying decision in today’s market. If you currently own property and are thinking about selling it, this site contains information about preparing your home for sale, selecting the right agent, pricing your home appropriately, marketing it effectively, going through the inspection process, and receiving a timely market evaluation.
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Frequently Asked Questions
Bayside vs. Oceanside?
A few common questions to ask yourself when planning your time here on the island. Owning and living here full-time? Renting your place part-time for additional income? Traditionally the ocean/beach side has always been a favorite for visitors. A short walk to and from the beach with a wagon containing your beach chairs, a cooler and beach toys is fabulous. Those units would be considered Gulf Interior. Gulf front, of course, is direct beach front access. Bayside access to what is called the entertainment district and further north on the bayside is usually for those that love the sunsets and are looking for a quieter stay for their vacations. It’s an easy walk to the beach but fishing in the bay from a dock perhaps, or just sitting and enjoying the ever changing sunsets is spectacular. You can have the best of both worlds. That being said, our island is less than a mile wide and we have many crosswalks for pedestrians.
Are there differences in Rental Income between Bayside vs. Oceanside?
We are asked quite frequently about the income differences from beachside to oceanside. Through the years, typically the beachside has been more favorable, but most recently, we are seeing quite an uptake in bayside rentals. Families are able to enjoy fishing, docks, jet skis, kiteboarding and paddle boarding. At this point, I would venture to say beachside is still the most desirable for rental pricing, but that depends on the type of renters you are looking to attract.
What fees are charged by management companies? What can I expect?
This question poses a broad spectrum of answers, mostly depending on the property. Single family homes with no HOA offer you, as the owner, the most options. The owner may choose to hire a full time company to oversee, management, bookings, repairs and cleanings. Those fees typically run from 10-30%. Quite a broad range. Your agent will be able to give you a few referrals and as a purchaser you should compare and shop around.
Properties with an HOA normally fall into two categories. Front desk managed and owner managed. The HOA rules and regulations determine how the property is set up. Front desk run properties normally have full-time staff, concierge, maintenance and cleaning crews. They do everything including bookings and marketing for you. Expect higher monthly HOA fees with this type of property as all of that staff requires quite a bit of overhead for the HOA. If you are required to use the front desk, your agent will let you know that as you are narrowing down your search. If you are able to manage your own unit, you can hire a company, or even do it yourself through Air B&B or VRBO…many different companies now offer that type of service. Your agent will have some referrals for local residents who help with check-ins, repairs and cleanings. I have had some clients have excellent ROI when they have the time to manage the property themselves.
What type of water services does Rio Grande Valley offer and what is the taxing rate for the MUD District?
The Laguna Madre Water District is a MUD that provides water for South Padre Island, Port Isabel, Long Island Village, Laguna Heights and Laguna Vista. The Rio Grande River provides (98%) Rio Grande Valley’s water. Both countries on either side of this border have use of this water. Part of an owners breakdown on property taxes include a portion of payment for this MUD. At this time, those numbers are .0388 per $100.00 of valuation of the properties value. That valuation is determined by the Cameron County Appraisal District. We see it as a line item on your annual tax bill. Anyone living in this area with any sort of water usage, must use LMWD as their provider. HOA’s normally provide water in their HOA fees monthly. Single family residential owners are responsible for their own water bill. I live in a home here on South Padre Island my typical water bill for a 3 bedroom home runs from $50-$76.00 on average. Upon signing a contract for purchase, whether it is a home, condominium or lot, purchasers will sign a form notifying them of the Water District. 956-943-2626. An additional and in depth explanation of a Water District is attached for more information (click here).
How does it work with Pets in an HOA situation?
Many of us have four legged family members that are as precious to us as our human family members. That being said, many HOA’s, due to the sheer number of people using the common areas, the size and limit are oftentimes set in HOA Declarations and ByLaws. Most of the real estate professionals here in this area know which complexes have certain types of policies. Make sure and let your real estate professional know as early in your search as possible if pets are something that are important to you. As a potential buyer, checking those Declarations and ByLaws once you receive them, is also a good idea. Our local MLS has a section wherein agents mark when entering the listing whether pets are allowed, pets are allowed with certain restrictions, or perhaps there is even a total no pets policy. Examples of restrictions would be numbers of pets, size/weight of pets and even that pets are only allowed for owners within the complex (tenants would be barred from bringing a pet if with the owners permission). When you write an offer on a condominium, the contract will give the sellers and their agent a specific number of days to provide written copies of those Declarations and ByLaws. I make sure that I request the Declarations and ByLaws before my listings even go live in an effort to provide as much information as possible. Even with verbal confirmation given, as a potential buyer, make sure you read those restrictions for yourself and be educated. Avoid potential surprises at all costs.