Top 3 Reasons Why Florida is the Number One Second Home Destinations
Florida is a wonderland of beauty paired with fun. From majestic beaches to the top attractions, there is something for everyone in the "Sunshine State". When you add investment opportunities and tax benefits to the mix, Florida real estate definitely wins the "Destination of Choice" Award for buyers and investors worldwide. Florida real estate is highly sought after for 3 main reasons. As everyone knows, real estate is all about location, location, location and Florida represents a great location, what is basically an investors' bull’s eye.
As I work with many people from all over the world I have found the bull’s eye is comprised of a good business climate, a good lifestyle climate and strong economics and fundamentals. Yes, Florida real estate delivers on all 3 of these.
Florida is great for business
- No. 1 for individual income tax (there is not a state income tax)
- No. 1 tax climate in the southeast for business
- No. 1 state for individual capital gains tax rates (No tax)
- No. 1 for individual dividends and interest tax rates (No tax)
- No. 6 (up from No. 10 in 2013) unemployment insurance tax rank
These are all great tax benefits!
Florida most definitely delivers on lifestyle
- A recent Florida Trend article stated that Florida is a haven for the affluent and baby boomers.
- Florida is highly sought after for vacations, golfing and theme park destinations.
- Florida is the warmest state in the USA so it is appealing to baby boomers.
- Florida is highly sought after as a beach destination (with over 1,200 miles of beaches).
- Golfing. There are roughly 1,250 golf courses throughout the state.
- Florida averages roughly 70 percent of the calendar days with sunshine which gives us the name “The Sunshine State”.
Sunshine makes people happy and indeed Florida is a happy state.
Florida has very strong economics and fundamentals
- Florida capitalizes on infrastructure, as well as service assets.
- Florida creates recreation and activities to deliver a sense of community.
- Florida has some of the top rated schools in the country.
- Florida creates an infrastructure which supports redevelopment and growth.
- Florida counties assist with delivering economic development both residential and commercial, the objective is to have 2 jobs for every roof top.
Florida creates best practices for growth which will better reflect the future trends with quality of life for its residents.
Our foreign friends love the U.S. for its stable government, for our economic security and for our lax taxation laws compared to their countries of origin. When looking at all of Florida’s business, lifestyle and economic fundamentals, including tax benefits, Florida continues to be (and for good reason) the world’s top destination for real estate investing.
Find out more about homes and condos available for sale in Florida!