7 Things You May Not Know About Buying Luxury Real Estate in Longboat Key Florida

July 17, 2023


7 Things You May Not Know About Buying Luxury Real Estate in Longboat Key Florida

Longboat Key, Florida, runs through Sarasota and Manatee County and stretches 12 miles along the sparkling blue waters of the Gulf of Mexico. With incredible white sand beaches, Longboat Key shines with its unique personality for residents and visitors alike.

Longboat Key is considered to have one of the best housing markets in Southwest Florida, and Travel and Leisure magazine showcased Longboat Key as one of the 15 best islands across the U.S. Home to historic districts, elegant dining, recreational pastimes, and eco-friendly initiatives, Longboat Key Florida provide you with the natural beauty of luxury urban living. Still, with the many beautiful things Longboat Key has to offer, there are some important things to know before starting the process of moving to this stunning piece of paradise.

Patience is a virtue

The process of buying a home is both complicated and exciting, but it’s important to make sure to remember that this is a big investment, and your choice should be thoroughly thought out and considered before making any final decisions. With such a small market of luxury properties, it can be easy to jump on the first one that has most of what you want, but with this, you risk buyer's remorse down the road.

Even with the increased demand for properties on the water, many luxury homes stay on the market for about 30 days. As of May 2023, luxury homes in Longboat Key are selling in an average of 36 days. This is not to say that you should drag your feet. The process of buying a home is still a long one, but as the market has begun to balance itself out, there are fewer chances of getting into a bidding war. Even with the low inventory, you have time to shop around and find what truly feels perfect for you.

Luxury homes are not always photogenic

While it is common and expected for luxury real estate sellers to use high-quality professional photographers to showcase their properties, they do not always give you true insight into the home. With their larger sizes, it can be hard to get a real feel for the size of each room.

Even as 3D virtual tours have become more popular over the last few years, if you’re located close to your next potential home, scheduling a personal tour or attending an open house will always give you a better idea of what the house is really like, and you’ll be in a better spot to determine if the house is really for you.

Connect your lifestyle with your neighborhood

When deciding upon where to invest in your luxury property in Longboat Key, it’s important to consider your lifestyle. If you’d prefer to be closer to the Longboat resort, which is equipped with multiple golf courses, tennis courts, pools, and high-end restaurants, the south end would be ideal. If you’re someone who prefers a more quiet environment, this should be something that your real estate agent is made aware of early on as it will help narrow down their search.

This can be connected to the idea of scheduling a tour or attending an open house, as you can get a realistic feel for the neighborhood too. Living in Longboat Key will allow you to have everything you’ve ever dreamed of in a home.

Consider the resale value

Luxury real estate is a big investment therefore it’s important to consider the resale value of your potential new home. Typically the higher you are in a luxury apartment building or condominium, the better your resale value will be, as there is less of a chance of developers building something that will end up blocking your view, which can have a huge effect on its value.

Keep in mind that certain amenities are more in demand than others. In recent years, home offices have become must-haves, and swimming pools have been deemed less of a deal breaker. Additionally, homes that are set very close to the water may not resell well due to climate change effects. However, homes further inland, built with stilts or on elevated platforms, might be more desirable.

Consider the amenities

Living in a luxury home means you have the choice to provide yourself with more things you love, possibly just down the hall from your living room, instead of needing to take a drive across town. Many single-family luxury homes for sale in Longboat Keys are in gated communities. Condominiums will likely have private elevators and beach access. Luxury Apartments are equipped with doormen and fitness centers. Amenities such as outdoor kitchens, entertainment rooms, technology-based lighting, and security features have become quite popular among luxury real estate buyers.

Research neighborhood plans

When it comes to investing in luxury living, it pays to think ahead. You should do your due diligence and find out what future projects are being planned for your neighborhood. It would be a shame to invest in a property with a stunning view of the Gulf of Mexico only to have that taken away in two years because of a new development that has now completely obstructed your view.

While there are beneficial island zoning laws in place in Longboat Key to avoid overdevelopment, newly constructed buildings are not the only possible interference you might face. If you are ready to buy a home in Longboat Key and the only problem you can see is that trees are blocking your view. You cannot simply assume you will be allowed to cut them down to get the perfect view you were hoping for, as Longboat Key has a Tree Ordinance that requires permits to remove or replace trees across the island.

As something as simple as a tree could potentially cause a sense of buyer's remorse, it is so important to research and educate yourself on what your surroundings will look like in the years after buying your new home.

Luxury homes are sold differently

It is common to see homes for sale on a Facebook post or a front-yard sign, but with high-end properties, the process is different. This is one of many reasons why it’s important to hire a local and experienced luxury real estate agent. They’ll be able to utilize connections and contacts to help you find your perfect home. It is also common for luxury real estate sellers to have exclusive open houses on an invite-only basis to make the home feel more important and desirable.

Judy Kepecz-Hays and team are one of Coldwell Banker's top sales teams in Florida in 2022. With over 83 years of collective experience, this trio provides their clients with luxury-level service and a wealth of local knowledge to help their clients navigate the Longboat Key luxury home-buying experience. When deciding to dive into the world of Longboat Key real estate, the Kepecz-Hays team is ready to walk side by side with you! Contact Judy today!

Work With The Judy Kepecz-Hays Team

Dive into luxury with the Kepecz-Hays Team, renowned realtors for Florida's Central West Coast, emphasizing Longboat Key, Lido Key, and Sarasota. With an impressive $2.4 billion in career sales, our team combines an expansive international network with expert marketing strategies. For buyers, we offer a select range of premier properties and private viewings. Experience the best of Sarasota County — its pristine beaches, arts, paddle sports, and shopping. From insightful neighborhood guides to tips for seamless buying and selling, we're your key to Florida's elite real estate. Choose Kepecz-Hays Team for unparalleled excellence.