The sunshine state, also known as Florida, is a great place to invest in real estate. The state is home to over 20 million residents, with some of the most beautiful beaches and resorts in the country. Florida attracts thousands of homebuyers each year, all seeking to secure the home of their dreams.
With all the perks the state has to offer, you may be curious about the Florida real estate market and why now is the perfect time to invest
High inventory rate
Florida has a generous amount of home inventory for sale in comparison to many other states, which is great news for potential homebuyers and real estate investors.
This means there’s a wide variety of housing options to choose from, allowing buyers to purchase a home with less stress and without having to settle on just any property.
Homebuyer incentives
Florida offers many perks for those aiming to buy properties within the state. For example, if you’re searching to purchase a home in a rural area, the USDA (U.S. Department of Agriculture Rural Development Agency) offers financial incentives.
Are you a first-time homebuyer? Some counties in Florida offer up to $8000 to assist with down payments and closing fees for first-time homebuyers. Those who qualify for this down payment assistance program do have to meet financial requirements and must stay in the property for at least 10 years.
A growing economy
The economy in Florida is booming. Job growth is increasing, which is drawing more folks into the area. Due to an influx of jobs and things to do around the area, there’s a constant flow of money.
With this economic growth, the real estate market has increased in value. Meaning, if you purchase a home in Florida, you’re more than likely going to make a hearty return if you decide to sell or rent the property in the future.
Overall, Florida has much to offer those wishing to invest in real estate. Consider the area in Florida you would be interested in and see what incentives are available to homebuyers. There are a bunch of great properties waiting for you.