When it comes to dealing with real estate, the last thing you want is to be uninformed. Whether you are buying real estate or selling it, you need to know what the current real estate trends are. Only then are you able to make wise decisions, and make your real estate dealing cost-effective. So, with this in mind, let’s take a look at what the real estate trends in Florida are and how to use them to your advantage.
In order to properly understand the real estate trends in Florida, we first need to go over a couple of points about Florida itself. The first thing that you should keep in mind is that this is a very large state. If you focus only on Miami and Tampa, which is something that a lot of people do when dealing with real estate, you will miss a whole plethora of real estate opportunities. Older people especially like to live in smaller communities, which is something that you need to keep in mind if you plan on selling.
Seeing as Florida has the longest coastline in the US, it should come as no surprise that there are a lot of excellent beachfront properties available. The Sunshine State has some terrific beaches and is one of the top places to move to for a beach-loving person. Alongside that, you have a strong economy that brings in a lot of young professionals to the big cities. So, even though the median home value of $337,900 may seem steep to some of you, it actually isn’t once you factor in the job opportunities.
Real estate in Florida
So, with this in mind, what do you need to keep an eye out for when dealing with real estate in Florida? Well, the biggest difference between most places and Florida is that Florida has a specific demographic situation when it comes to real estate. Of course, you can find people from all walks of life purchasing all kinds of property here. But, in most cases, you are either going to find retirees moving to one of the smaller cities in Florida or young professionals moving into larger ones. Therefore, if your property sounds like something that those demographics would be interested in, or you are a part of those demographics, you should have a relatively easy time dealing with real estate in Florida.
It is no secret that more and more people are choosing to spend their retirement in the Sunshine State. The warm days, the open space, the relatively low cost of living… All of them contribute to the number of retirees moving here. Not to mention that there are numerous services and programs that cater specifically to elderly retirees. So, getting a home here is a real estate investment that almost every elderly person considers. This makes retiree homes one of the more constant real estate trends in Florida.
Elderly people usually look for spacious homes in quiet neighborhoods. Ideally, they want one that is close to the necessary services.
Another large demographic moving to Florida is young professionals. Cities like Miami and Tampa are brimming with job opportunities and nightlife. Therefore it is no surprise that a lot of college graduates choose to move here after their studies.
Keep in mind that real estate that young professionals are after is substantially different from real estate for retirees. They are usually looking for modern, cost-effective homes that are close to the city. It is surprising that, according to statistics, the cost of the home doesn’t pose much of a problem (both for renting and selling). What is important is the location and that the home has modern appliances.
Beachfront properties are almost always in demand. One of the biggest real estate trends in Florida is for U.S. families in the tri-state area to get vacation homes on the coastline. On the other hand, if you plan on buying one for yourself you might want to think twice. Owing beachfront property usually sounds better then it actually is. Know that there are some important pros and cons that you need to consider. Especially when it comes to the cost of maintenance.
Newest real estate trends in Florida
Retiree homes, young professionals and beachfront properties have been real estate trends in Florida for quite some time. But, there are some new real estate trends that you need to be aware of if you plan on dealing with real estate.
One of the real estate trends that are changing the industry is smart homes. More and more homeowners in Florida are equipping their homes with smart technology as it makes homes much more cost-effective in the long run. Things like home monitors, smart climate systems, and solar panels are becoming more and more prevalent. And, while most homes in Florida still aren’t smart, we expect that this trend will constantly increase since smart home technologies are becoming cheaper. So, if you want to be ahead of the curve, consider making your Florida home smart. At least use the fact that you are living in the Sunshine State to your advantage.
Another popular real estate trend is the eco-friendly design. The more you can make your home eco-friendly, the easier time you will have both buying and selling it. This should come as no surprise. After all, we are getting more and more aware of climate change and our effect on it. Plus, having an eco-friendly home goes hand in hand with having a smart one. So, for your future dealings in Florida real estate, remember that eco-friendliness plays an important role.
About the author
Paul Gordon worked as a local Florida mover for many years, helping people who are leaving Florida for good. This has given him the necessary experience to successfully transition in the real estate business where he now provides helpful tips and guides.