In an ordinary year, Florida tourism generates around $91 billion in revenue for the state.
So, you’re onto a good thing if you’re considering investing in a property for short-term rentals in the Sunshine state.
Are you considering buying Florida real estate for your own enjoyment, retirement, or as a permanent residence, rather?
You still stand to benefit from the investment, and here’s why.
1. Florida Boasts Steady Growth
Florida’s growing at a consistent rate and boasts plenty of growth in employment opportunities too.
These factors are vital if you want to invest in Florida property for long-term rentals, or if you’re considering moving there. Either way, they ensure a steady stream of income.
Experts agree that Tampa, Orlando, and Jacksonville are among the best places to buy investment property right now.
2. Florida Real Estate Values
If you’re considering buying a Florida home for your family, you’re bound to make a profit if you decide to sell it.
Due to a consistent demand for Florida property, Florida house prices usually escalate at around 7% a year.
Now’s a great time to pick up some fantastic deals on property, thanks to the recent downturn in tourist demand nationwide.
Living in a tourist destination has its challenges. Before you make the big move to Florida, it’s important to find out everything you need to know about what it’s like to live in a vacation hot spot.
There are still plenty of real estate developments on the cards for Florida. So, you can also pick up some great deals on land and build your dream home from scratch.
3. Abundant Choices
Whether you’re looking for a seaside condo or a home in a thriving residential area, you’re bound to find what you want in Florida. Wherever you choose to live in this popular state you’ll find plenty of attractions, activities, amazing nature, and entertainment options.
The state’s also home to some excellent schools and family-friendly pastimes, so it’s a top choice if you have children too.
4. State Incentives for Buyers
Florida boasts various state, federal, and local housing programs to assist home buyers and investors.
For instance, first-time homebuyers now receive additional tax credits thanks to the American Recovery and Reinvestment Act. Other incentive programs offer down payment assistance, fixed interest rates, and other attractive mortgage opportunities.
5. Fantastic Infrastructure
Florida’s super-accessible when it comes to travel. Both tourists and commuters can take advantage of the state’s excellent airports, roadways, and public transport.
You never have to worry about a snowstorm delaying your travels either. Florida’s never experienced a severe snowstorm.
The last time significant snow flurries occurred in northern Florida was in 2017. Residents of southern Florida last saw snow in 1774.
Your Dream Home Is Waiting
Florida real estate offers abundant opportunities for astute investment and some fantastic residential options too.
If that’s not enough to sweeten the deal for you, remember that Florida’s one of the few states with no income tax too.
Browse some more of our articles for the latest news and ideas about real estate and home improvements.