Investors oogle Florida

When investors and second home buyers think of investing in a second homes, the number one location that reportedly comes to mind is Florida. Florida outranks its closest second home competitor (California) by two to one.

Florida is an interesting and highly sought-after market, not just for its great weather, many entertainment attractions, but it also has an excellent business climate. Of course, having no state income tax is doesn’t hurt either when investors look to start or move a business. Not to mention Florida lead the combination rental markets, both in annual rentals as well as being a vacation rental hot spot.

Of course, I personally love Florida which is why I live here. As you may have read in previously posts, “I believe you should live where you wish but invest where it is best.” So to this note I am continuously asked, “What do you think of Florida as a real estate investing location?” Of course I do the unthinkable. I answer the question by asking another question. I ask, “What is your primary objective with your real estate investment?" Are you a lifestyle investor, a cash flow investor or a capital growth (appreciation investor)?

Florida, the world’s second home destination,

Florida lifestyle investing brings in the beaches and water amenities that no other states can compare to. In fact, Florida boasts 1,350 miles of shoreline and beaches.  Add to that the quiet relaxing lifestyle of gulf course living sought after by so many. My late father in law joked on his last visit that he had seen a golf course every 3 and half miles. While that his observation more than fact, Florida is abundant in greens and courses. Then consider the hundreds of attractions and list of to do’s that Florida has to offer and it is clear why Florida has little competition; it is like the other states are not even trying.

With the growing number of baby boomers in the U.S and the ever increasing numbers of foreigners looking for second homes Florida has proudly become the number 1 destination for the lifestyle investors,

Lifestyle Amenities

A new emergence of popularity is the mid-state gulf coast. Miami and Orlando have often made the international news, so people both foreign and domestic have heard about these locations. Lifestyle investors that are looking for lots of activities but want less crowded cities have quickly discovered Sarasota / Bradenton areas. In these gulf coast communities you will find activities, restaurants, museums, golf courses, (world class golf courses) and the best beaches Florida or the country has to offer.

Siesta key voted best U.S beach by Trip advisor has got the finest, whitest powdery sand around.  In fact the sand is comprised of 99% pure white quartz crystals). Then there is the world renowned Anna Maria Island considered a time capsule for simpler times. Anna Maria is known for its natural shoreline which is non commercialized coast line free of skyscraping condo buildings. These beaches are extremely popular as they have ample space to park, play and dine. These cities have amenities that you would find in a large metropolitan area with multiple millions in population, but these two counties combined house just over 400 thousand residences. With plenty of elbow room between neighbors and a plethora of activities the lifestyle investors love within the Gulf coast area.

Strong economies:

Lifestyle investors love the activities and lifestyle and as investors they want strong economically sound communities where they can have an expectation of home values increasing. This is another attribute that makes the Sarasota/ Bradenton area so popular.

Sarasota / Bradenton was ranked as number 6 in best performing cities by a study from Milken Institute.

Lakewood Ranch is the nation’s number 1 (non-age restricted) Master Planned community and comes in as number two when combining both age and non-age restricted communities.  No signs of slowing down for this Community positioned directly in the midst of the thriving cities and has become a world renowned community. Their philosophy is to create two jobs for every roof top. A philosophy which they are proud to have delivered.

New construction caters to lifestyle investors: Builders have embraced the demand for this quiet and relaxing lifestyle and are building resort style developments everywhere. These communities range from golf course to water front. Most all communities have miles of walking and nature trails. Club houses with many activities and gymnasiums. Many have restaurants and lounges.

If you are considering a second home, Florida real estate is an easy pick.

Most people use their second home as a family vacation home or as an investment home. A family vacation home purchased in sunny Florida might easily earn rental income when not occupied. Or the investment home purchased might be rented out as a continual form of extra income

Current trends show that thousands of people make the move to the sunny state of Florida each day. People moving to Florida are of every age and incomes so don’t let the stereotype of retirees only purchasing a second home in Florida fool you. Floridians enjoy a great, healthy and warm weather year around kind of lifestyle.

Buying a second home in Florida is affordable. There are homes in every price range. It should not be too difficult to find a second home in your price range. So, if you are considering a second home, you too may want to look into Florida.

Pick your lifestyle!

Various lifestyle locations that Florida has to offer

A. Florida’s Pan Handle

Known for its snow white sandy beaches the pan handle is the most laid back and rural area perhaps of all of Florida. The big city here of course is Panama City and people that come here are attracted to all sorts of water sports. From small water activities like canoeing and kayaking all the way up to deep sea fishing. This region attracts many second home buyers from China and Western Europe.

B. Sarasota and the Gulf Coast region

Sarasota attracts affluent professionals and celebrities looking for anonymity. A recent Sarasota magazine front cover read, “The millionaire next door”. Sarasota is home to many popular names from the Forbes list, as well as celebrities and retiring business executives. This region has a big draw for people from United Kingdom, China, Western Europe and Canada. Sarasota and the gulf coast region are known for its laid back atmosphere, plethora of parks and serene beauty of the aqua colored beaches. Along with a large influence in the arts, the Sarasota area was recently voted as the second most popular destination to move to.

C. Florida’s Southern Tip, Miami Fort Lauderdale

Fort Lauderdale is known as the yachting capital of the world, which draws boating enthusiasts from virtually the entire globe. Nearby the Everglades entertain the nature enthusiast, and of course there is no shortage of nightlife here. The active person will feel right at home. Looking for further adventure? The highway A1A will take you on a 90 mile serene drive down to the world renowned Florida Keys. This region attracts a large draw of second home shoppers from U.K., Brazil, Venezuela, Canada and Western Europe.

D. N.E. Florida (Historic St Augustine and Jacksonville)

History enthusiasts and those seeking more of a rural feel will love this Florida region. Known as the first discovered city in the country, St. Augustine packs in the history and the culture. Lots of job growth happening here with its ever expanding Port of Entry for shipping.

E. Center State, Orlando and Ocala

Let’s face it, I think the whole world knows about Orlando area so it pretty much speaks for itself. It is home to Disney World, Universal Studios, Sea World and hundreds of other attractions. The more rural Ocala is known for its huge equestrian influence. Golfing will be found around every corner. This region has perhaps the largest draw of second home and vacation home buyers from the U.K. China, and Brazil, Canada, Venezuela and Western Europe.

Florida Lifestyles

Indeed one could spend countless days writing and reading about the incredible attributes Florida has to offer. It is easy to see why so many want to invest in second homes and vacation homes here in Florida. It is about the lifestyle.

Consider it an investment in your future happiness.

If you would like to find out more about how you can get a Florida vacation property or Florida second home, we are happy to be your resource.  Give us a call to get started today 941-718-7761

The author’s opinion cannot be construed as tax or legal advice, and may not represent the views of HTBUSA or its stakeholders. HTBUSA is not a legal service or professional tax service. As with any investment, there is an inherent risk in investing in real estate.