Buying a home in Florida can be a great investment, whether it’s a second house for snowbirds, or your forever home. However, there are a few things to consider about Florida real estate, especially if you’re looking at the areas on the Space Coast and Brevard County. This is one of the most sought-after destinations in the state, and one look at the beautiful beaches, the feel of year-round sunshine, and the excitement of living near the tourist destinations in Central Florida.
Considering the Florida Housing Market
Florida real estate is consistently one of the hottest markets in the country, and while prices are on the rise, homes in Florida are still popular for real estate investors and people seeing a warmer climate. Florida is currently a seller’s market, meaning that it’s more favorable for sellers due to a higher demand than supply. A tight inventory of homes means that prices can rise, and often, sellers may end up in a situation with a bidding war, or buyers who are offering more than the asking price to secure the house they desire.
Economic Stability in Florida
Real estate investment in Florida isn’t just a good investment idea because there’s a high demand for housing. It’s also a good investment because the state has a diverse economy that employs both temporary workers, who may need rental units, and permanent ones. South Brevard County, for example, is known as the Space Coast and offers plenty of job opportunities in science and tech, plus it’s close enough to popular tourist destinations for the thriving hospitality industry, as well.
The Upsides of Buying Property in Florida
Florida real estate properties have several features that can make buying a home, whether it’s an investment property, your own house, or a vacation home. Relatively low rental prices in Florida mean that the return on investment for landlords in the state is consistently high. There are also opportunities for development in many areas of the state, and families seeking a custom home may still have opportunities.
Possible Drawbacks to Purchasing Florida Real Estate
Although the area has plenty to offer home buyers, there are a few things to keep in mind when considering your Florida house purchase. It may be difficult getting a loan in Florida than in other states, so make sure that you’re financially stable before considering the move.
Location, always important in real estate, is another big factor in finding the right Florida real estate investment. Finding the right part of the state is important, especially if you plan to use the house as an investment property. But even within the popular places to live, finding the right neighborhood is important. Proximity to schools may be important, or the length of your commute. Other people may choose to live right on the water, enjoying beach-combing, boating, fishing, and swimming. Having a realtor that has a deep understanding of the local area is important to help you find the right fit.
Your Brevard County Real Estate Team
When you choose Dave Curri and the Curri Kirschner team, you’re getting the benefit of their years of experience in the central Florida real estate market, plus Dave’s in-depth knowledge of the communities here from his lifetime of living in the area. Florida real estate, especially in the South Brevard County area, can be a great investment for anyone looking to grow their portfolio or find their dream home.