When Is the Best Time to Invest In Real Estate In Florida?
Investing in real estate can be a tricky thing if you don’t know what you’re doing. It’s easy to get caught up in the low real estate prices and beautiful locations that Florida has, but you want to make sure you’re investing at a good time. If you want to know the best time to invest in real estate in Florida, keep reading.
What is the real estate market like in Florida?
Florida is a great state with so many homes available for sale at great prices. People come from all over to live in Florida due to the fantastic temperatures, amazing waterfront views, and fun atmosphere. People also visit to invest in some of the gorgeous properties that sit along the coast.
The real estate market has done incredibly well over the last year, and it just seems to get better and better. The state has continued to rise in population, and it continues to be in the top 10 fastest-growing states. They have also done a great job keeping up with the housing demand, and there are plenty of new construction homes available.
The state is known for some of the most beautiful houses in the country, and people love to vacation there in the summer months. This means short-term rentals have seen a significant boost, with vacationers choosing to stay in a nice home over a dingy hotel room.
Is there a good month to invest in Florida real estate?
There are actually a few times in the year when buying real estate will be less expensive for you. In April, the listing price of homes is actually 6% lower than the rest of the year. April is also an excellent month for housing choices as there are usually 15% more homes on the market.
If you’re looking for the best time to get a mortgage rate, think about buying a home in December. This is usually the slowest month for homes everywhere due to the large amount of money people spend during the holiday season. In December, the mortgage rate is about 2.9% for a 30-year mortgage which is a fantastic rate compared to the rest of the year.
As far as seasons go, the summer months usually have a higher price of about 10k. Many snowbirds from up north come down in the summertime to vacation, and a small percentage decide not to return. Buying a home in the colder months is the way to go if you want to save yourself some money.
Are there good towns to look at if I want to buy some investment homes?
Florida has plenty of amazing towns all along the coast, but some of these places have a higher cost of living based on the fact that they cater more to tourists. Luckily, there are plenty of smaller towns near big cities that have excellent prices, along with a few larger towns that have incredible homes. Let’s have a look at some of the best cities to look at if you want to invest in Florida real estate.
Median Home value: in the 300k range
Lakeland is situated just east of Tampa and has a population of around 110,000. People love the fantastic local parks along with the great location, and many of the residents Commute to nearby towns for work. The city also has a 45% rental rate, so you will likely have quite a few people looking for rental homes.
Daytona Beach, Florida
Median Home value: in the 600k range
If you want to invest in some high-end luxury homes with amazing waterfront views, Daytona beach is the best place to look. The town has around 68,000 residents, bringing in thousands of visitors annually. The largest age group in Daytona is 55+, so the town is an excellent place for retirees and seniors. Among all other locations, Latitude Margaritaville is the most demandable area to buy a home as an investment in Daytona beach.
Fort Meade, Florida
Median home value: low 200k range
This city has fantastic real estate prices along with a great location. It’s a quiet town with around 6,000 residents, and it’s a great place to find inexpensive homes that would be great for short-term rentals. Tampa is about an hour away, so the city is an excellent place for short-term renters to stay.
Is right now a good time to buy in Florida?
Yes! Now is a fantastic time to check out some of the incredible homes in the state. There are so many cities that still have low prices, so you should get in on it as soon as possible. You want to get in these homes before they are gone!
Realtors agree that the prices right now are only going to go up with the current inflation rate issues, so have a look online at some of the fantastic homes in Florida today.