There are so many places around the world to spend your money. So many hotspots to snap up a deal on investment property, so why choose Florida? Most people think they know what Florida’s about, but some of the reasons to invest your money here might surprise you.
1) Incredible Climate
The state of Florida boasts one of the most wonderful climates in the world. You likely already know the weather’s pretty good – it being called the Sunshine State and all – but did you know that we have an average of 300 days of sunshine per year? Even in the months of January and February, Florida offers blue skies and warm days. In fact this past February 1st the temperature in Miami was 79 degrees Fahrenheit!
For those of you coming from colder climates – where you’re lucky to see the sun for six months of the year – that’s pretty impressive. Add to that year-round swimmable, crystal clear waters, some of the best beaches in the world, and an abundance of natural flora and fauna, and you really have a climate that facilitates dream living.
2) A Huge Tourism Market – Growing Year on Year
When you invest in Florida property you are investing in a strong and growing tourism market. The United States Commerce Department’s National Travel and Tourism Office has as its goal to welcome 100 million global visitors each year by the end of 2021. Estimates are that these visitors will spend $250 billion during their stay.
For investors looking to make a return by renting their home short term to vacationers, there are few better places to do it than in Florida, and especially in Sarasota. You are buying in a state which welcomed 89.3 million visitors in 2012 and expects that number to increase by 5% this year.
That number includes 10.2 million overseas visitors, up 9% on the previous year. What this means, and what the numbers say loud and clear, is that Florida is a thriving tourism economy. Add to that the fact that the state’s service sector is highly geared towards tourism, and you have a package of great returns and holiday properties that are easy to manage from abroad.
3) Transparency & Ease of Process in Real Estate Transactions
With the right advice and guidance, you will find that Florida is one of the easiest places in the world to buy investment property. Real estate transactions are highly transparent and efficient. Timelines and processes are clearly defined, and most contracts offer a “time is of the essence” clause- meaning parties responsible for the transaction must work in a timely manner.
Florida is also one of the few places in the world to have title insurance: which means your title is 100% guaranteed rock solid. No one can ever claim they own your property, and that is backed up by a cast-iron guarantee from the title insurance company. This is a marked contrast to many European countries, where tracing the ownership of a property can be onerous and in some cases virtually impossible, which means you can never be 100 percent certain of your ownership.
4) Competitive Pricing & Great Returns
From talking to clients and people on our travels one of the biggest misconceptions about Florida investment property is that it’s expensive. While it’s true that there are mega-mansions costing tens of millions for sale, it’s also true that Florida has some incredibly affordable properties…in some cases beginning as low as $100,000. Add to that great returns that are achievable in Florida investment property, and you may find yourself enjoying free holidays as well as generating income. A win-win situation.
You can find out all the information you need on buying your Florida holiday home or property investment from our book “Your Guide to Florida Investment Property.”
Alternatively, click the button below to be put in touch with one of our hand-selected team of Realtors, who can advise you on location and lifestyle, and suggest properties that suit your needs.
