Planning to Buy a House in Florida? Here Are 5 Reasons to Do It

Why Buying Real Estate in the Sunshine State is a Good Investment

The Sunshine Florida is known by many names and enjoys great demand among thousands of people due to its amazing features. For many clients, buying a house in Florida in 2022 can be an excellent investment in their future and financial well-being.

There are many cities in the state where the standard of living is above average. It's worth mentioning the picturesque nature, proximity to the best beaches and convenient social infrastructure - all of this gives you one of the best options for relocation.

If you are considering moving here but unsure whether this state is right for you, the official Florida.RealEstate website will tell you about 5 reasons why buying a house here is a reasonable decision in 2022.

Market Conditions in Florida

To understand the situation, it's important to consider it within a broader context. Real estate prices are rising across America. In March 2022, the state recorded a yearly growth rate of 18.8%, which is the highest figure in the last 34 years.

The reason for this is high demand for housing in the state, which remains one of the highest in the country (even in 2022) due to climatic conditions, no personal income tax and lower property taxes. This explains the rise in home prices.

Key Benefits of Buying Real Estate in Florida in 2022

Here are the top 5 reasons why buying local real estate is a great investment in 2022.

1. Rapidly Developing Economy

Despite the coronavirus crisis, the economy continues to grow rapidly. Because the state has no personal income tax, it is an excellent place for relocation and starting a business.

Analysts forecast GDP growth of 2.8% in 2022. Some of the best Florida cities for job searching: Tampa, Jacksonville, Orlando and Gainesville.

2. Investments in a High-Demand Asset and Successful Investment Business

In the Sunshine State, both jobs and housing are in demand.

Low mortgage interest rates and high returns on investment in popular areas like Orlando and other parts of Central Florida attract investors. For example, the average cost of housing in Orlando increased by 9.2% just last year.

Rental rates in the state are also steadily rising. Cities with the highest rents for a one-bedroom apartment:

– Miami. Up to $2,520 per month. Rent growth was 34% compared to the same period last year.

– Fort Lauderdale. The amount reaches $2,000, with a rise of 20.5%.

– Tampa. You can get $1,800 monthly for an apartment. This is 34.3% higher than the same period last year.

– Orlando, where you can rent a one-bedroom apartment for $1,700 per month. Rent growth was 16.4%.

Rent for a two-bedroom apartment in Miami is $3,410 per month. Growth reached 37.5%. These figures confirm the profitability of investing in rental housing.

3. Excellent Conditions for Families

The local atmosphere is hard to overestimate. It's a state with beaches, picturesque nature and many places for fun time with the family. Here adults and children can spend their time in more than ten theme parks and other major attractions of Central Florida. The most popular ones are: Walt Disney World, Universal Studios and SeaWorld.

If you live here permanently, you can participate in the Florida Resident program which offers special discounts on visits to favorite museums, theme parks, hotels and other attractions such as the Kennedy Space Center.

4. Top Universities

Florida is known not only for interesting events but also for universities. As the state adopted a scholarship law, the level of local schools and educational centers has significantly improved.

The state has some of the best public universities. Some of them are:

• University of Florida ranks 6th nationally among U.S. public schools.
• University of Central Florida ranks 14th in the list of best online bachelor's programs.
• Florida State University ranks 4th in the list of best colleges for criminal justice in America.

5. Best State to Retire In

Retirees make up 20.9% of the state's population. This makes it the best place to retire since it is full of activities aimed at older people and peaceful communities.

Start Looking for Suitable Real Estate in Florida

The real estate market is full of favorable options. Now is the time to take advantage of buying property in the state. Browse listings on the site to choose the best properties. In the catalog, you will find excellent villas, penthouses and apartments with all necessary amenities and modern social infrastructure in other popular areas.

Are you interested in local real estate? Learn more about current apartment prices in Florida on the Florida.RealEstate website!