Florida is one of the top investing markets in the country. With hundreds of thousands of northern Americans flocking to the sunshine state during winter months, and seeking retirement homes, investors can reap big rewards for investing in this state. The baby boomer generation is coming of age to retire, and as a state with no income tax, Florida offers a retirees a lower cost of living than most other states in the country.
Florida was hit hard during the recession, resulting in it having a high rate of foreclosures. Many of those living in Florida seek rentals due to budget or because of the fear of not meeting mortgage payments once again. With such a vast pool of renters, investors would do well to take advantage of this market.
Homes in Florida have been rising in price for many years now and the Huffington Post named Florida as one of the top states to retire to for real estate investments. As baby boomers retire, they’ll be flocking to Florida. Naples, Florida is one of the hottest areas to invest in, but other areas are attracting attention quickly.
Nearly 2/3 of Florida house sales were cash, because of heavy investments in the state. Referred to as “mom-and-pop” investors, more individuals and small teams are investing in real estate than large investment firms, and foreign investors are not far behind.
The U.S. economy is making a strong comeback, which includes Florida. The window of opportunity to invest is limited. Those who are interested in long term appreciation should investigate properties in Florida. As a popular state because of its warmth, it’s a great investment opportunity.