Florida real estate has always been a good deal for investors.
Real estate is the most reliable source of income and wealth building, so much so that some individuals even make a career out of it. Gambling with stocks or depending on interest rates from a mutual fund account are slow to build and are not reliable.
While real estate can also be a gamble, there is a way to be smart about investing in the market and protecting that investment.
Prime Florida real estate with a great return on investment is not difficult to find. Whether you purchase a condo by the beach in Bonita Springs or a stunning home in a desirable community, the popularity of the area guarantees a consistent flow of income from tourists and visitors to the area.
Investing in Florida Real Estate Has its Benefits
Here is a short list of what you should know about the benefits of real estate investment in Florida.
Home prices have fallen in the past year in Florida, which makes this a wonderful time for investors to snatch up perfect properties at low prices. Although the market is still struggling to recover from the economic downfall of 2008, you will find that today the market is more stable and offers outstanding deals for investors and homebuyers.
This is the perfect time for not only homebuyers to find their dream home, but for investors to find the perfect income property in a highly desirable destination. The current inventory offers a wide range of properties at various price points to meet the needs and budget of every investor. The time to act is now, because as sales volume increases and more transactions are completed the inventory levels will shrink and home prices will continue to rise. Don’t wait too long or you might miss out on a perfect opportunity.
Low Mortgage Rates
Mortgage rates are still at the lowest levels since the 1960s. These rates can fluctuate quickly just like home prices and the local inventory, so it’s not smart to wait too long if you find a great income property.
There are various incentives such as federal, state and local housing programs put in place to help buyers and investors achieve their real estate goals. For example, the American Recovery and Reinvestment Act helped to increase tax credits for first-time homebuyers from $7,500 to $8,000. Connect with a professional mortgage broker to learn about federal and state incentive programs to help you finance your investment property.
Florida is a state that is favored by economists to continue to achieve long-term growth and economic stability. The state grows extremely fast and it is also a highly popular tourist destination, which means that a vacant investment property is not something to worry about. While Florida’s economy was impacted by the recession like the rest of the nation, many business sectors such as healthcare and technology have done an outstanding job of creating jobs and sustaining economic growth.
The investment outlook for the state of Florida remains high year after year. The biggest issue with real estate investment is financing, but once that is squared away landlords and investors in real estate don’t experience many other issues with their properties.
The Value of Homeownership
Owning your own home allows you to truly enjoy a sense of wealth. Studies show that home equity is the largest source of household wealth, and investing in real estate as a source of income can only enhance this feeling. Owning a home can also lead to increased personal well being and higher levels of self-esteem and life satisfaction. These feelings in turn can help homeowners, investors and their families be more productive members of society.
The local lifestyle is one of the top reasons why thousands are attracted to Florida in the first place. Stunning beaches, beautiful weather, numerous landmarks and attractions, various opportunities and no income tax are just a few of the top reasons why new residents and investors are attracted to Florida. The state is often referred to as one of the most desirable places to live and the local communities are often mentioned in various prominent publications and TV shows for their beauty, luxury and amenities.
Need Help Finding the Best Investment?
Whether you are investing in a second vacation home for you and your family or a property you plan to rent out, you will find that there are numerous benefits that come along with investing in Florida real estate.
We would be more than happy to answer all of your real estate questions and help you achieve your goals.