Why Florida Can Be A Great Place to Invest In Real Estate
Why Florida Can Be A Great Place to Invest In Real Estate
If you are looking for a great place to invest your real estate dollars you may want o consider Florida. There are many aspects that can make this particular state more appealing to buyers from the UK and Europe who are trying to buy into the American property market. A combination of low prices, excellent climate, great selection and relaxed lifestyle can make this a great choice for anyone who wants a second home that they can visit regularly.
The Credit Crisis Can Be Your Advantage
Although many countries are being affected by the recent recession certain areas of the United States were particularly hard hit. Florida is one area where this is definitely true. Depending on where you are looking in the state prices per square foot may be as low as one-quarter to one-third of what they were before the recession hit. For example, Sarasota (which was recently highlighted on American television as one of the best places in the country to own a property) features prices that are as low as $47 per square foot. When you consider that in 2006 these same properties were valued at $350 per square foot you will understand the kinds of savings that are available.
It's a Buyer's Market
Real estate conditions in the state have made it a true buyer's market. There is a wide selection of properties to choose from. You are able to find anything ranging from a luxury estate to a comfortable and well-appointed condominium in a great neighborhood. Before the recession there was an oversupply of homes and with the recession and the resulting foreclosures the range of properties that are available has grown.
Attractive Climate and Relaxed Lifestyle
The area also has a climate that makes it very attractive to people who are looking for a second property in an area that is warm and sunny for much of the year. Activities such as golf, shopping, cruises and beach life can combine to make for an excellent holiday destination that rivals many traditional holiday destinations.
If you are interested purchasing property you may want to consider doing it soon. Areas surrounding major attractions such as Disney World and Universal Studios have already begun to rebound meaning that it is only a matter of time before the state fully recovers. In order to have secured a home at excellent prices it may be a good idea to begin your search in the very near future.