Benefits of investing in real estate in Florida
In addition to all the advantages we have already know, the climate, the language, the fun and so on from benefits of investing in real estate in Florida, what attracts investors the most are the state taxes. That is why not only families are moving here, but also big companies generating a great dynamic to do real estate business in this area now.
During last year the real estate market was very active and this year the trend has been increasing which shows that the pandemic mobilized many people from the north of the nation especially from Boston, Chicago and New York, as well as people from California increasing the population in this area and generating new business opportunities.
One of the most favorable considerations for these people are the fiscal ones with benefits that compared to those of their cities, are really better.
For example, if someone in these cities earns a good salary per year will must pay a rate of up to 60% in taxes, which in Florida is reduced to an average of 35% this allows a great savings for this item.
Square foot in Florida has been rising
We have also seen that although the price per square foot in Florida has been rising it does not compare to the prices in those areas of the country, where such values can easily triple. Similarly, mortgage interest rates have remained stable and below the inflationary index not exceeding the 3.2 to 3.7 percent range, and are expected to remain that way for the rest of the year. That is why many are buying and seeing how their investments are growing with increases of between 15 and 20 percent, which makes us foresee that, by the end of the year we will average 12 percent. In my daughter's case, she bought her first home in Orlando last December and paid $115,000, today, has been offered buy for $165,000, which allow her to obtain an investment return of $50,000, in a very short period of time. This makes us deduce, that this still an "excellent time to buy".Relocation of Companies
We all know that South Americans continue to be one of the largest buyers of real estate in Florida but, without a doubt, the large companies that have decided to move to Miami and that have up to 200 employees, who receive salaries of up to $300,000 per year has energized the real estate market. This has caused inventories to dwindle rapidly, since it has become much easier for them to acquire properties that would be much more expensive in their cities. The shortage of inventories increases sales and leasing prices, which has led large construction companies to accelerate development processes of new real estate projects, which gives us a glimpse of a great future for those who want to invest now. [caption id="attachment_2459" align="alignleft" width="172"]
Gilberto Ocampo MBA CAM | Property Manager 786-271-0957[/caption]
At JMK, we have highly experienced professionals who can personally advise you in your purchase, sale and post-sale process of all types of properties, as is the case of Gilberto Ocampo, who has over 25 years of experience.
Likewise, our interdisciplinary team, allows us to offer you under professional license our integrated services of administration, repair, remodeling and improvement of your property so that you always get the best benefits and with the tranquility of always having our friendly hand to support you.
For this and much more, call us (305) 930-1160 or visit us at 605 Lincoln Rd Suite 250, Miami Beach FL 33139, and we will be glad to assist you.
