The year 2021 was one for the record books since the housing market in South Florida reached all-time highs, and home prices soared. Many cities experienced such rapid sales that builders couldn’t even keep up with the demand. New construction took off in desirable zip codes and popular areas. The new home sales in 55+ communities in Port Saint Lucie, West Palm Beach, Naples, Orlando, and other cities are overwhelmed with buyers, especially from out of state. More retirees moved to Florida in 2021 than ever before, and even more, people looking to retire in style, are expected next year too.
So, what contributed to the popularity of Florida in 2021?
Let’s explore the pros & cons of living in the sunshine state…
Obviously, the weather is the most popular reason why people move here. Let’s face it, while most of America is freezing cold, with snow, and ice everywhere.
Florida is at a nice 71 degrees during the days, and a brisk 55 degrees or so at nighttime. At least that is wintertime temps for the most part, although Florida will throw some hot days in there during December, and January, that feel like they came out of nowhere.
But still, wintertime, or “season time” to the locals is the best weather you are going to get in Florida, or anywhere else, for that matter.
The summertime is another story, and the sunshine state lives up to its name then. The days are long and very, very hot. Plus, the humidity gets sticky too. The combination can be overwhelming for those who aren’t already used to it.
Low Tax State
Another reason that people move to Florida is that there are low tax rates there. Unlike New York, or California, where you must pay Federal income taxes, and state taxes, Florida doesn’t charge state taxes. The business laws and regulations favor small businesses, and you can start a company for much less than in other states. Plus, Florida tax laws favor retirees, since a large portion of the population is retired folks.
Family-Friendly Cities & Communities
Florida boasts amazing schools within certain districts throughout the state. There are many excellent public schools, where children can get a high-quality education and go on to become college graduates.
That is an attractive quality about the sunshine state, that brings families here a year, after year.
Plus, smart homebuilders exploit this perfectly, by building gorgeous homes and communities, around the best schools in the state. Most of the new home communities in Port Saint Lucie are pre-sold, meaning they get purchased by potential buyers, well before construction begins. This can work out alright for people who are selling real estate up north and need the extra time to move anyways.
We cannot leave out, one of the most important types of housing Florida offers, waterfront properties! There are all types of waterfront homes in Florida to choose from. You can find huge, waterfront estate homes, worth millions of dollars.
Or, quaint, waterfront houses, which sit on the Intracoastal waterways, away from the hustle and bustle at the beaches. These are great because you can dock your boats and water toys outback, on your own private docks, a requirement for these types of homes.
Moreover, Florida offers all sorts of waterfront condos for sale. From luxurious and pricey, penthouse condos in South Beach, Miami, overlooking the Atlantic Ocean, with breathtaking views.
Too, smaller beachfront condos like those found on Hutchinson Island. Here people can afford to live beachside and enjoy the outdoor lifestyle that Florida is known for. Some of these condo buildings are for adults 55+ years of age or older. While others cater to anyone who wants to live on the beach and pass the Homeowners Association (HOA) application process.
Either way, sunshine state offers waterfront real estate for just about any budget. Although, the prices have gone up significantly in the past 18-months, and they are forecasted to go up even higher in the coming year.
Hopefully, you can see a few reasons that make Florida such a great place to live, work, and play. Even though prices have increased, there are still some bargains you can find, especially if you are willing to do a little bit of work yourself.
There are a plethora of houses and condos for sale that need work to make them beautiful again. This option provides you with the opportunity to save some money upfront and earn the built-in equity the property will have, if you do high-quality work, and use good fit and finishes during the rehab process.
It is recommended that you consult a professional real estate agent for advice and guidance if you’re not sure what to do yourself. The crazy housing market is confusing, and you can leave money on the table if you’re not properly prepared.
Those who put in the work and time to ensure your get the best properties, at the very best price possible, will be happier in the long run for sure.
Comments / 2