Florida brings people from all over the country to its shores. The sunny state has a wide range of real estate opportunities, some beautiful and historic sites, and modern builds and business opportunities that make it all-round attractive.
People have long been attracted the promise of a quieter and more luxurious life, and that won’t be changing any time soon. In fact, there are many factors at play that are bringing more people than ever to the sunshine state.
Incredible Real Estate Quality
Real estate in Florida can compete with some of the best properties anywhere in the world. Even with living costs being between 10 and 40% lower than New York, Florida’s cities can offer luxurious properties that have unmatched quality.
From condominiums and apartments, to large, luxurious residential properties with expansive gardens, Florida really has something for everybody. The quality of these properties brings people from all over, along with the fact that the cost per square foot is surprisingly smaller than other major cities across the United States.
A State Full of Culture
Florida has long been considered the state for retirees, but over the last few years cities within the state have really begun to make cultural and artistic statements. Take Miami, for instance – the city has recently opened the Miami Museum of Science, the Miami Perez Art Museum, and begun hosting a variety of annual artistic events.
From Art Miami to Art Basel, Florida’s cities are becoming more cultural, artistic and vibrant by the day – and that’s a really attractive thing for people looking for a new home, or a great real estate investment.
Many people move to Florida to enjoy lower taxes, too. Florida is among the 10 best states in the country for businesses, meaning residents can avoid capital gain taxes, estate taxes and even state income taxes. National taxes apply, buy living in the sunshine state means you can avoid many taxes that are extortionate in other parts of the country.
Property tax can also be surprisingly low, depending on the county you choose. Combined with competitively low taxes for business, this makes Florida one of the most exciting parts of America for new industry and properties – and people are really taking advantage of that and making property investments now.
Great Mortgage Rates
Not only can you enjoy lower taxes, but Florida also has some fantastic mortgage rates. According to BankRate.com, the average 30-year fixed rate mortgage in Florida is around 3.98%, with a 15-year fixed rate mortgage at 3.13%.
Florida is Experiencing Gentrification
Gentrification, the process of improving, renovating and transforming homes and regions, is hitting Florida. Miami and other Florida cities are seeing derelict and low income areas being totally transformed. New restaurants, bars, hotels and other companies are being launched in parts of the state that have not seen investment in many years.
This is drawing potential investors from all over the country. Now is the right time to purchase property at more affordable rates, giving you a chance to make gains on an investment in years to come.
A Relaxed Way of Life
If you’re looking to buy in Florida for the purpose of moving there, you’ll be faced with a great opportunity to live a relaxed and peaceful life. Florida is known for its many golf clubs, long beaches, theme parks, hotels, casinos, restaurants, bars and more.
Many residential properties are located in gated communities and towns, with great public transport services that make it possible to reach the inner cities.
With sunny weather all year round, stunning properties and investment opportunities, a booming economy and plenty of culture, Florida is a great place to live and work.