Florida is currently experiencing a boom in the housing market. Besides experiencing population growth in individual cities both big and small, many homes have risen in value, especially those in Tampa, Jacksonville, Miami, and Orlando. But what is contributing to the recent Florida surge?
Most of the reasons point to changes with how we work and live. The prevalence of remote work and rise in entrepreneurship are a few factors contributing to the change. A greater number of new building applications for housing this year alone, lower home prices compared to other major markets, and more accessibility to first-time homeowners add to Florida’s attractiveness. Along with average low and high temperatures staying within the 57 to 83 degrees Fahrenheit range, the manageable cost of living and lack of state income tax makes moving to Florida a good place for many.
With that being said, it’s still a good idea to look over all the information you have before making a final decision. Talk with locals in your favorite areas if you can. Keep tabs on daily interest rates and mortgage loan options that are most beneficial to you. Keeping yourself educated with relevant news and resources can make the home-buying experience easier to manage and as cost-effective as possible.