If you are looking to buy Florida real estate, the time is now. People who know their investments never buy in a seller’s market and never miss a buyer’s market. The buyer’s market has been around for some time now, but that situation is likely to change fast with the expected economic upswing. The chances are that those who wait for better prices will probably end up buying at a much higher price than what they can get now.
Florida with its tag as the ‘Sunshine State’ brings to everyone’s mind the warm climate, the unending beaches and water sports, but the great weather and recreation potential are not the only reasons why it makes a lot of sense to buy Florida real estate. Let us take a look at what makes this location a hit with real estate buyers.
Florida’s geographical location in the Southeast of the country gives it features that make its economy very vibrant. It has many different types of industries which create thousands of jobs every year. Its tropical climate and many attractions make it an ideal tourist destination for tourists from all over the globe. Florida on its own would make it into the list of the top economies of the world. The moderate weather also makes it an ideal place to relocate for retired people, those who are near retirement, and those who prefer a calm life without the rush that is often seen in other parts of the country. Florida also attracts people who are looking for a holiday home in addition to the one that they normally live in. Owning a second home in Florida is a good idea as it can be rented out when not in use. Renting out property is not difficult due to the demand from tourism.
Florida provides a lot of choice and is investor friendly:
For somebody wanting to buy Florida real estate, it provides many different options which suits different budgets and tastes. This also makes it attractive to investors because they are not likely to face any difficulty in getting potential buyers. Another plus point for investors is that this is a fully developed real estate market with low risks. Investors can get tax advantages if they provide housing to the local population.
One of the best places to start a business:
Florida gives a number of tax incentives for small businesses. This makes it an ideal place to start them. Florida oranges and orange juice is famous all over the world. It also has a thriving aerospace industry. These along with businesses that support tourism and entertainment give an entrepreneur many lucrative fields to start a business in. Being a great place to live in and having good medical and educational facilities makes it attractive to prospective employees and so businesses will find it easy to get the right kind of people to work for them.
Now let us look at some of the reasons why it is essential to avoid sitting on the fence and seriously consider buying your Florida property now without missing the bus.
1. The pricing is still very good but the chances are that they will soon start to go up and when that happens there will be a rush which will push the prices up further. If you wait, you are likely to have to pay much more, settle for a smaller property, or buy a property in a less sought after area.
2. The number of transactions on the property market in Florida is increasing. This is a sign that the tide is turning and another reason not to wait any longer.
3. There are plenty of properties available even now and that is why it is still a buyer’s market. Once homes start selling briskly and sellers start having more options buyers will find that their bargaining power has gone down. This is the time to make that move.
4. The lending rates are favorable. Once the real estate market gets on its feet again lending rates will go up making it more expensive to finance the purchase.
5. The government is encouraging transactions in real estate with both the Federal and the state authorities offering incentives to those wanting to buy property. This is also characteristic of a buyer’s market and there is no guarantee that this will remain the case as the demand goes up.
Living in a rented property should only be a short term option and buying your own home is the way forward:
1. Buying a home can be a lifetime investment and many people have found that over many years real estate gives good returns. Everyone should have some investment in real estate and if you don’t have it this is the best time to get in when the conditions are favorable.
2. Living in your own home rather than a rented home always gives one peace of mind. This is especially true if you are already retired or on the verge of retirement. Due to the many leisure activities in Florida it is the best place to live post retirement.
3. Owning your own home also gives you a higher stake in your community. Home owners typically take more active interest in developments within their community. Owning your home will let you have a more fulfilling life than what you can get by living in a rented property.
With prices being where they are and with the demand in rental property being very high, Florida is being called by many as an investment opportunity of a lifetime. It is time you capitalized on this opportunity. There are plenty of properties available now be it apartments, condos, townhouses, or elaborate villas with all facilities. These are available now in premium locations at very attractive prices. Being a buyer’s market, the buyer has a lot of bargaining power and choice. The market is nicely poised and the expected growth in the economy will make you investment worth every cent as the years go by. The loan facilities couldn’t have been better. Overall all conditions are very favorable. It is time you capitalize on this once in a lifetime opportunity if you are planning to buy Florida real estate.