Florida remains the go-to destination for today’s first-time homebuyers. Why wouldn’t it be? It’s nicknamed the ‘Sunshine State’ for a reason.
With endless days of sun and more than enough beach to go around, Florida is a prime choice in real estate. If it’s not families moving nearby to get a slice of the pie, it’s newlywed couples seeking out a dream home. New construction homes are particularly popular due to their higher ROI. Would you rather have a home that needs renovation or a place that’s good to go for the next few decades? When it comes to your future, only the best will do.
Real estate agents are ready and waiting to help you make an informed decision. Fort Lauderdale is a beautiful location filled with potential.
The most important thing to know when finding a new construction home is the competition. It’s a lot of money you’ll be putting down, after all, and you need to have all your options straight. Florida remains a top competitor in the real estate market for several reasons. According to recent estimates, the Sunshine State attracts more than 100 million visitors every year. Its overall population grows by 1,000 people each day, to boot — if this continues at the same rate, the state will boast 22 million by 2020.
Florida boasts some very interesting statistics once you start to dig. It has a surface area of over 65,000 square miles, with most of its land mass surrounded by beautiful beaches. Its tourism industry remains one of the most impressive in the United States and sees some of the highest populations of food workers. When you look up new construction homes in Florida, you look up a future that’s practically paved out for you. While real estate has been experiencing a few blows as of late, the Sunshine State has held strong.
Not all homes are right for your lifestyle. You need to consider how your house is going to balance out school, work, and a social life, among other things. According to a recent survey, 40% of vacation home buyers plan on using their property for vacations or as a family retreat. Around 35% of vacation home buyers also purchased property in a beach area. Waterfront condos are designed to give you a brilliant view in the comfort of your own home, with a walkable location as the cherry on top.
Home prices are starting to change in response to this demand. The median sales price of non-distressed homes was just over $215,000 back in 2016. Compare this to the median prices of vacation homes, which was closer to $200,000. Lastly, the median price for foreclosure homes has hovered at $155,000, which is nearly 30% lesser non-distressed sales. Take into account what you want to see your home like in a few years — new construction homes offer a great ROI and less maintenance than older models.
Investment properties, new mortgage, waterfront homes…it’s a lot to take in. Reach out to a Florida real estate agent and ask them how you can make a new construction home part of your life. They’ll give you the rundown on competitive prices and match them to your lifestyle. With the Florida population growing, now’s the perfect time to stake your claim. New construction homes in Fort Lauderdale will give you the ideal blend of cozy, walkable, and trendy in one convenient package.
Lots of sun, lots of potential. Where will you start investing in 2020?