When Buying a Home in Florida
Whether you’re buying a second home/vacation home or you’re considering moving to warm, sunny Florida, here are a few things to look at beforehand:
- Can you afford to live in the region or neighborhoods you have targeted?
- Which cities and neighborhoods are safe and pleasant to live in?
- Summers are hot and humid. Can you take the heat and the indoor life?
- Do you like golf, fishing, walking the beach, boating, and water sports?
- How well can you run your business from Florida and how much back and forth travel will you need to do?
- What is the actual cost of living?
- How much will your mortgage payments be for the next 10 years?
- Is there a true demand for your area of work/profession?
Some people love Florida and some don’t like it at all. If you could live there during the winter only, as many snowbirds from New York, Toronto, Montreal, Boston, Philadelphia, Chicago, and Washington do, it’s might be a no brainer. All you’d have to focus on is finding a home and getting it at a bearable price.
With the Florida economy rolling along nicely, there’s no reason to believe there is a downside to buying property in the Sunshine State. And sunshine is a key benefit for most buyers here.
Interest in Orlando and Tampa real estate has been particularly strong and that’s likely due to the lower prices. Even homes in Boca Raton and Fort Lauderdale are half the price as those in Miami.
However the economies in Tampa and Orlando are holding their own and drawing in new residents due to lower than expected prices on condos and homes.