How easy is it to find property for sale in Florida?
Florida is a very popular destination for travellers from across the world. It has acquired the nickname ‘the Sunshine State’ due to its fantastic year-round weather which, along with its beautiful beaches and relaxing lifestyle, make it attractive to a range of people, from families to retired couples. This is what makes Florida an attractive proposition for property investment.
There is property to suit every taste and preference. Locating property for sale in Florida can be easy whether an investor is looking for modern apartments or retirement homes. Before investing in property, however, investors should learn more about Florida and the different areas within the state. This can be done by visiting Florida’s official tourist website. This will help investors to decide which area they wish to buy in, and in what type of property they are interested.
Property in Florida
There are plenty of sites online that advertise property for sale in Florida and many companies that offer to find potential investors property for investment. The range of properties on offer is huge, from family villas to two-room apartments in towering skyscrapers. The key to finding a good investment property is keeping up-to-date with what is going on in the market. This is when a local real estate agent, someone who knows the market well and knows which areas of the cities are the high-demand areas will help. Having quick access to information is vital to the success of property investment.
Flipping houses
House flipping refers to an investor buying a property at a knock-down price, making any repairs and then re-selling the house. Flipping a house can be done in as little as a day and the mark-ups can be impressive. Companies that specialise in this sort of investment often find buyers for the properties while the paperwork with the bank is being finalised. Buying a flipped home can be a way of getting a property at a good price, but the buyer should be aware that there can be problems. The property may have hidden damage which the flipper missed. Many homes that are flipped are bought at auction and the buyer does not have access to the property. In traditional sales all defects must be disclosed by the seller, but at auctions or foreclosures this is not the case, thus defects can be passed on to the investor and eventually to the new home owner.
Buying off-plan
Buying off-plan involves purchasing homes before they are built, or whilst they are being constructed. This type of purchase does carry an element of risk, but it can also offer good returns. To successfully buy off-plan, however, investors need to understand the market trends. It can take a couple of years to complete a unit and during this time an investor’s financial situation could change. During construction the investor will receive no income from their property.
Land investment
Plots of land can be bought in Florida and prices can be relatively low. Land can be a good investment as the holding costs are low and for investors who do not have the money to build a home they can wait whilst the value goes up and build later. It may also be possible in the future to sell part of the land to fund building.