Today I am on the roof of our home. We just installed solar panels so that we could harness our electricity from the biggest generator, the sun. Tesla Energy has an energy swap program in which the cost of solar is about the same each month as our monthly FPL electric bill, and once it is paid off we own the solar asset and our energy costs go to zero.
What Type of Returns Matter Most to You?
Buying property in Sarasota is about making an investment in our community. We work very hard with each one of our clients to facilitate a thorough analysis of their investment goals. Our approach is entirely holistic, as we want to be sure each person fully understands the nature of the two types of investments – quality of life and financial.
Financial Investment
The financial investment is the sum of two parts – cash flow and appreciation. If it is your primary or part-time residence and you will not be renting it out, the goal is to find a property that will increase in value over time.
For cash flow potential we provide the spreadsheet models to help you predict the income and expenses and assess cash flow returns.
Lifestyle Investment
But what about the lifestyle investment? For most of our clients this is also a key driver in their decisions. This is harder to measure numerically, but needs to be a priority as there is truly no value that can be placed on health and well being.
Finding Your Happy Place
When you get up in the morning and look out at the water, and feel healthier and younger, that is an A+ return. Or when you walk outside and in less than five minutes you are on the beach or getting coffee at your favorite café, that is also an A+ return. When your children and grandchildren come to visit more often and you can walk to the opera or golf this too is A+ return. Sometimes our returns on investments are more than just financial and these are the ones where we focus.
The Top 3 Investment Opportunities in Sarasota Today
This is not to say that you can’t have both. Here are three examples of great all around investment opportunities that I want to highlight:
- Entry Level condos on Longboat Key. Currently there are a number of condominiums under $450k on the island, presenting an opportunity to get good values in this market segment.
- Combining Side by Side Condos. I have identified a number of condominiums that are next door to each other, which when combined will provide larger living spaces for less than market rates.
- Tweener Waterfront Properties. These are homes that are located in areas that are prime for teardowns because much of the value is in the land, but since the houses are over updated they are priced just beyond land values and offer opportunities to buy the land and in a proverbial sense get a house for free.
Sometimes to get both a financial and lifestyle return it takes a little vision, some faith and a willingness to move forward.
Call me today @ 941.587.0740 for your private lifestyle investment tour!
