Living in Florida is a popular choice for people of all ages who relocate with their families to the Sunshine State to enjoy year-round warm weather, numerous events and attractions, and a high quality of life. Buying a new home in Florida offers a range of opportunities, but before diving into real estate listings, it is important to carefully consider the advantages and disadvantages. In this article, we will discuss these aspects.
Why investing in real estate in Florida is worthwhile
Buying real estate in Florida is an affordable transaction for many reasons, not just economic or financial. Here are some of the positive aspects and advantages of owning a new home in Miami, Orlando, or any other city in the Sunshine State.
An excellent real estate investment
Buying a home in Florida is a safe and financially profitable investment in a booming real estate market that is experiencing strong demand growth and is attracting more and more residents from the U.S., Canada, and Latin America, who are choosing to relocate to Florida and start a new chapter of their lives here (find out who the international buyers in Florida are). Furthermore, Florida has a particular tax system that makes it a convenient place to live (learn more about taxes in Florida).
The opportunity to choose a customized home
Florida’s real estate market is full of listings for pre- and under-construction developments, meaning that you can customize the design and space of your home by selecting finishes, colors, and materials according to your preferences. By doing so, you can acquire a home that perfectly reflects the tastes and requirements of its future occupants.
Energy-efficient homes
Newly constructed properties in Florida, including new skyscrapers set to change Miami’s skyline, like the 70-story tower called The Residences at 1428 Brickell, are designed to be energy efficient, using innovative materials and exploiting state-of-the-art technologies to reduce heating and cooling costs while minimizing their environmental impact.
The convenience of home automation
Many new housing projects in Florida incorporate cutting-edge technologies for optimal living comfort. Notably, home automation systems and devices play a prominent role in creating smart homes. These integrated systems enable convenient and intelligent remote management of various aspects and functions, enhancing well-being and optimizing energy consumption.
Warranty on new houses
In many cases, new or under-construction housing properties for sale in Florida come with a builder’s warranty which serves to safeguard the buyer against any structural or construction issues for a limited period of time, which can vary.
A wide range of services
Every real estate listing for new homes in Florida includes a comprehensive list of amenities that accompany the housing units. Whether it’s a penthouse in Miami or an apartment in a coastal city like Fort Lauderdale, these new residential projects offer an array of amenities waiting to be discovered. These amenities can include swimming pools, parks, sports facilities, and more (read about the most sought-after amenities in this article).
Low maintenance costs
Newly built properties require less maintenance than older houses. This is true everywhere, but particularly so in Florida, where prominent builders in the United States are developing innovative residential projects using modern, high-performance, and durable materials.
Buying a home in Florida: potential disadvantages (and how to address them)
Considering the potential drawbacks that may deter a real estate transaction in the state is important to obtain a complete picture of the Florida real estate market. Here are some of them.
The cost of housing in Florida
Housing market prices in Florida, like in many parts of the United States, are increasing, and the high demand is not helping. New real estate projects, especially in central and popular destinations like Miami with its abundance of luxury residences, can be costly. However, it is still possible to find more lowered-priced real estate listings in nearby areas and cities that offer a high quality of life, albeit with less glamor.
The cost of living in Florida
Apart from the cost of housing, access to everyday services and goods also comes with a price tag in Florida. While taxes in the state are generally lower compared to many other states, cities like Miami and Orlando are not among the cheapest in the U.S. On the other hand, inland from the coast of Florida, you can find a lower cost of living and more affordable solutions.
Waiting times
When buying a pre-construction or under-construction home in Florida, it’s important to note that the completion process can be lengthy, particularly for large or luxury housing developments. However, the quality of the finished project typically outweighs the time spent waiting to move into your dream home.
The complexity of the housing market
The real estate scenario in Florida is very dynamic and changing rapidly, and this can be a problem for people looking for or selling homes in Florida. Until recently, real estate agents, builders and potential buyers were likely to encounter difficulties in exchanging information but now thanks to NEO – New Estate Only there is a platform where they can all meet and reach their goals.
NEO offers an extremely rich database of pre- and under-construction real estate listings in Florida updated in real-time directly by the builders, allowing users to search for properties by filtering by city, price, size, property type and more thanks to the advanced search. Home buyers can obtain detailed information on real estate projects, including development plans, available construction materials and finishes, and even be contacted directly to schedule property visits.
Start your search for your new home in Florida on NEO – New Estate Only
