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Most expensive homes in Destin

by Karen Dishner

Our last blog post covered the most expensive homes in Fort Walton Beach. Just to update you, all five of those homes are still currently available (give us a call if you feel like taking a look. We'll be happy to show you a few homes!!). Let's head east and look at the most expensive homes currently on the market in Destin.

As of today, April 24, there are currently 129 homes in Destin priced over $1,000,000 active on the market. There are 38 listings over $2 million, and 20 over $3 million. There are just 5 homes currently listed for over $4 million. Let's take a look at the Destin's top 5 most expensive homes!

#5 - 55 Lands End Drive - Destin Pointe, $4,168,000

5 bedrooms, 5 and half baths, and over 4700 square feet -  The balcony on this home is huge! I think my favorite little detail is the large fireplace in the Gulf-front master bedroom.

 

#4 - 4730 Ocean Boulevard - Destiny by the Sea, $4,250,000

4 bedrooms, 4 and a half baths, and 4,264 square feet - This home has 4 master suites, but I think I could just live in the rooftop hot tub. You can see the whole coast from there!

 

#3 - 627 Gulf Shore Drive - Holiday Isle, $4,400,000

11 bedrooms!!! ELEVEN!! 

This home is almost 12,000 square feet and 90 feet of deepwater frontage on the Destin Harbor. And check out the home theater!! 

 

#2 - 793 Bayou Drive - Joe's Bayou, $4,995,000

Only 7 bedrooms in this hovel....Ok, it's not quite a hovel. It might be my favorite one on this list. The lot alone is gorgeous! Jeremy Fretwell, our Broker/Owner here at RE/MAX Gulf Coast Realty always likes to talk about "mature trees" in his listings. This home definitely has mature trees. BEAUTIFUL old oak trees draped with Spanish moss - I love it! Take a look at the pictures of the inside - I am a sucker for a clawfoot tub!!

Aaaaaannnnndddddd............

# 1

618 Gulf Shore Drive - Holiday Isle, $9,800,000



This one gets two pictures because it's just that gorgeous. But I highly recommend clicking the links and scrolling through the rest of them. No amount of description is going to do this place justice! At almost twice the price of the second-most expensive home in Destin, the house truly has everything!

I hope you enjoyed our little stroll (scroll?) through the most expensive homes in Destin! Check back next week - we'll see what the most expensive homes in Santa Rosa Beach look like!

Giving to your children

by Jim Gilliland

Tips for Gifting a Home Down Payment to Your Child

Are you in the fortunate position of being able to give your adult child the down payment he or she would need for a home of their own? There are many reasons parents consider doing this: maybe as a wedding present, perhaps instead of paying for a wedding at all, or maybe just to know that their child will have a roof over his/her head.  There are several things to think about in relation to a sizable gift like this.  Keep in mind there are rules and tax regulations pertaining to this type of gift. Knowing these will keep you from making a hefty financial mistake when helping your daughter buy her first home.


The Down Payment Must be a Gift and Not a Loan

If you plan on helping out your kids, the down payment must be a gift and not a loan. To prove this, the parents will need to write a letter to the lender stating that the money never needs to be paid back. 

Otherwise, the lender will factor in the loan amount from the parents into the mortgage approval amount. This may mean you qualify for less on a  Fort Walton Beach home.

The Tax-Free Limits

Remember the limits when gifting a down payment. Any gift of $14,000 or more will result in a tax bill. However, there is a loophole that is possible if done right. The rule says $14,000 per year per donor, so technically, each parent could give $14,000 for a total of $28,000 in a year. 

It’s best to talk to your lawyer and work out the details if you are planning on going this route. 

Provide the Down Payment in Advance

It is important to give the down payment well before your child begins their Fort Walton Beach Real Estate search. Getting this money during the early stages of home buying saves paperwork and logistical headaches. 

The gift does not have to be addressed if the funds have been in your child’s account long enough that the last two bank statements do not show the deposit.

If you are thinking about helping your son or daughter begin their search for a home in Fort Walton, Destin, Santa Rosa Beach, or anywhere else on the Panhandle, give us a call! 

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Photo of Jim Gilliland Real Estate
Jim Gilliland
RE/MAX Gulf Coast Realty
28 Walter Martin Road NE, Suite A
Fort Walton Beach FL 32548
Office: (850)243-2220
After Hours: (850)864-7459
Fax: (850)664-6068