If the Florida vacation lifestyle appeals to you, perhaps it’s time to purchase a home or condominium in the Sunshine State. The state offers some attractive tax benefits to those who do decide to buy a property, however hose who aren’t ready to lock into a purchase ight look into a seasonal or long-term rental for their next visit. With elegant luxury penthouses, beachfront condominiums along the Atlantic Ocean, Gulf of Mexico and elsewhere, townhouses and estate homes in golf and country club communities, over-55 adult communities for retirees, and moderately priced homes and condos, Florida offers something for everyone.
In addition to all the lifestyle benefits, owning a Florida property can also be an excellent long-term investment.
Today, more than nine percent of all Florida real estate transactions involve a foreign buyer. The two key reasons for their interest are the state’s warm-weather location and homes that offer a good value—a winning combination for any buyer. Due to its global appeal, Florida has large second-home communities filled with Canadian, European, Russian and Latin American buyers, as well as those from elsewhere in the USA. Whatever your native language, you can probably make new friends in Florida!
LOCATION AND LIFESTYLE
When beginning a search for a Florida home, there are two basic approaches to consider: location and lifestyle. You may already know where in Florida you want to live—perhaps near your parents’ home, close to the grandchildren or within walking distance of nightlife. If so, you should familiarize yourself with the neighborhoods, look at typical houses, condos orreal estate professional who knows the local
market and can help you make the right choice. Another strategy is to focus on your desired lifestyle, such as living in a private golf community, a high-rise on the beach or a scenic, rural location. That allows you to compare homes, prices and amenities in different communities around the state. For example, a four-bedroom estate home on the Gulf coast will cost more than a Central Florida inland location. Again, a real estate professional can help you. If you’re considering a move to Florida, be ware there are some differences in home design and construction compared with houses in cooler climates. For instance, few Florida homes have a basement, because of the underlying hard limestone rock and high ground water level. Newer homes may be more spacious and feature modern kitchens, baths, flooring and fixtures.
There’s a number of leading single-family homebuilders to consider in Florida. For instance, for more than half a century the Minto name has represented integrity, financial strength and enduring value. This familyowned business has since grown into an integrated real estate development, construction and management company. With 20,000 new Florida homes built in 42 communities throughout the state, Minto offers a wide array of award-winning residences and places to meet every lifestyle. A leader in environmental
sustainability, the company builds energy- and resource-efficient homes and communities, creating innovative living environments with state-of-the-art design. Such initiatives have set Minto apart as exceptional homebuilders and have earned them the No.
1 ranking by Eliant Homebuyers Choice Awards for percent of sales from referrals, as well as recognition from LEED (Leadership in Energy and Environmental Design) and others. Additional developers include Pulte Homes, Lennar and Toll Brothers, all of which have developed residential communities throughout the state. Condos and apartment buildings also vary widely in design and construction, and often develop distinct “personalities.” The size of the building or community can also make a big difference in terms of lifestyle, amenities and costs. A high-rise condo with 600 units is akin to a miniature city with many services and amenities, and a higher monthly maintenance fee. However, if the purchase price and monthly fees are a big consideration, you may prefer a smaller building with a pool, spa or entertainment area—or no amenities at all. Condos have been a major part of the Florida market since the 1970s, so the age and condition of a building can affect its desirability and price. A recently constructed residence may have a more appealing design, new appliances, marble baths and other modern features compared to an older unit that has never been updated. However, the older unit may still appeal to buyers on a tight budget.
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