Florida Remains a Popular Place to Buy Real Estate
The world has undergone a host of changes over the last several months due to the spread of COVID-19. People have been locked down in their homes and have been trying to do their part to reduce the risk of this virus. It’s been on the top of everyone’s minds for some time now, and the worry about the novel coronavirus is not just going to disappear.
Before the pandemic, Florida was welcoming immigrants daily, and many of them were looking to buy property in the state. Some were arriving from other countries and others were making permanent address changes from other states in the U.S. The South Florida area was and continues to be particularly popular for these newcomers.
The uncertain times in which we are now living is causing many people to reevaluate what they want out of life and where they want to raise their family. Florida continues to be high on the list of places to go and live for a host of reasons. There are even prediction models that are showing that Florida will be even more popular as a place to live after we’ve weathered the pandemic.
Why Do People Still Love Florida?
There are countless places around the world where people could choose to call home. What is it about the Sunshine State that still beckons so many new arrivals? It turns out that it’s not just one thing, but a cornucopia of reasons that continue to draw people to the state.
One of the main reasons that people want to move to Florida is the weather. It’s nice through much of the year, and it didn’t receive its nickname of the Sunshine State by accident. People who are in colder climates don’t want to deal with all of the snow and freezing temperatures, so they head south. They aren’t just snowbirds either. They are young people who are looking to pick up and move permanently.
Of course, it’s not only the weather. The unique blend of cultures helps to make Florida a place that people from all over can enjoy. While it might be more difficult to get out and do things right now, we all know that it’s only temporary. Eventually, things will open up and get back to some semblance of normal. Being in a place like Miami means being close to the beaches, great restaurants, sports, and much more.
There are economic opportunities in Florida, too. Many appreciate the tax advantages that the state can provide, which include no state or local personal taxes. The corporate income tax is only 5.5% for state and 0% for local in places like Miami. The sales tax is low, as well.
Miami is not just a haven for baby boomers any longer. With new job opportunities, excellent housing, and the great weather, you will find that many millennials are starting to move to the state, too. The economy is strong, and it is poised to remain that way thanks to the aforementioned tax advantages. It’s the second-largest financial center in the United States.
People from other countries see Florida as a fantastic opportunity for investment. This includes investing in residential real estate. Whether they use the property as a vacation home, a rental unit, or a permanent home, real estate has a lot of potential for foreign buyers.
South Florida has a lot to offer in terms of homes that are available, too. Those who love the idea of living steps from the beach will find that it’s possible thanks to the many luxury condo buildings in the area. There are condos that work well for single people and couples, as well as larger units that are ideal for growing families. However, we’ve started to see some real interest in a different type of property recently.
Single-Family Homes Are Becoming Very Popular
While luxury condominiums will never go out of style, we’ve found that many people today are starting to look at single-family properties in the area. These buyers have discerning tastes, and they are looking for homes that will meet all of their requirements. It’s about more than just having the right number of bedrooms or a large garage. The buyers want and expect just as much luxury as they will find with a condo.
One of the reasons that single-family homes are becoming popular, especially now, is because they can provide you with more privacy. You and your family will have a space of your own, which means you aren’t sharing an elevator or a lobby area with countless other residents. In the current world of social distancing and taking precautions against the pandemic, this is important.
What Property is Right for You?
When you are looking at the potential options available for your new home, you can discover a wide range of condos and single-family options that could be right for your needs. Take the time to consider what you will need from the next home you buy and get in touch, so we can help you find it.
Do You Have a Luxury Single-Family Property to Sell?
Are you the owner of a single-family luxury home in the Miami-Dade area that you would like to sell? These homes are still quite popular with buyers, and they will continue to be for some time. However, it can be difficult to know how to sell your home even in the best of times. During an unprecedented pandemic, it can be even more challenging.
However, we can make the process much easier for you. Lana Bell has more than 20 years of experience working with all manner of residential luxury properties in the South Florida area. With the number of buyers on the rise for single-family homes, she’s looking to help you get your property on the market.
If you have a property that you want to sell, it’s time to get in touch through email or by calling us. We’re ready to help.
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