Florida real estate market - Residential and vacation homes
When selecting your investment in the Florida real estate market, it is essential to understand your objectives and desired returns when choosing between buying a residential or vacation home.
Not only Brazilians, but many investors from other Latin American countries, Canada and even Asia, buy residential and vacation homes in Florida.
In this article, we'll learn a little more about the American real estate market.
The main reason is to diversify investments in a safe currency like the dollar.
Investors choose Florida not only because of this, but also because it has one of the largest vacation rental markets in the world and has the strength of constant growth, expansion and investment in new attractions, highways and infrastructure.
Not to mention the tropical climate most of the year, the beaches, the lifestyle and the multicultural population.
Another important point to mention is that few American states have no federal tax and Florida is one of them, attracting more and more people migrating and emigrating because of the lower cost of living.
With all this, Florida is now the state that attracts the most foreign investors.
How to choose the best property to invest in Florida
The first question to ask yourself is: what is the purpose of your investment?
It defines which direction to take and how I can help you find the best investment for what you're looking for.
Every property purchase is an investment.
However, when we're in the search phase, we need to understand if you're thinking about:
- Living in the house now or in the future
- Rent to tourists or rent annually
Another question to consider is: what are you looking for in terms of your return?
When it comes to residential property, whether you're moving in or letting it out on a yearly basis, one of the main points is to look for a home that has a good quality public school in the area.
This is because, if it's an area that people like, your investment will appreciate in value, it will have excellent liquidity and your property will be constantly rented out.
As for vacation rental properties, we need to check the locations allowed for these types of short term rentals.
Other important points are:
- Choose a property that has a good structure community;
- Professional decoration;
- Competent administration.
You can also invest in land, buildings, warehouses, commercial premises and active businesses.
Investing in residential homes in Florida
These are some of the secrets to investing safely in a residential area.
This is often an investment without much risk.
What I advise is to invest in areas that are expanding, where there is a lot of investment from the city and incentive for commercial points, schools and hospitals.
Areas like this tend to appreciate rapidly.
Another point to consider is established areas with good schools nearby.
This means that your investment will always appreciate, both in terms of the value of the property and the rent.
Investing in vacation homes in Florida
These are some of the secrets to investing safely in a vacation rental.
The first thing you need to understand is that not all places can do this type of rental.
There are specific areas for this in both Orlando and Miami.
There are also a number of factors that make this a good investment.
But for that, I need to understand what you believe to be a good investment.
What do you expect?
1 - Do you want to have a property to use with your family and, when you're not using it, have the income to help with household costs?
2 - Or do you want to have a house, really a business, where what you're looking for is the best house that will bring you the best return?
If it's the second option, you have to look at it as a business.
In other words, the house is yours, but it's not for you.
These are different objectives that will lead us to different types of investments.
In general, if your idea is to get a good return, I'm going to give you five tips that you need to pay attention to when choosing your property.
5 tips for choosing your property
1 - Location of the property
2 - Structure of the community
3 - Home decoration
4 - Administration
5 - Number of rooms
If you want to know more about this, watch the video in which I explain in detail what to consider.
In addition, to talk to me about your expectations and receive advice on choosing your property in Florida, you can count on the team of Consultants Selecta. Contact us by clicking here.
I invite you to watch the video "FLORIDA REAL ESTATE MARKET - RESIDENTIAL AND SEASONAL HOUSES".