What a whirlwind year in Real Estate 2021 was for many cities across America. The housing market went bananas in places like Florida, where certain, in-demand areas, saw Real Estate values increase 20% or more. Even though that wasn’t the norm, the housing market trended upwards just about everywhere, and new construction homes sales increased so much, there are year wait times within many new home communities in Florida.
Much of this activity was due to people who retired and moved to the sunshine state. But will that trend continue with the rising home prices, and limited availability?
Let’s dive in to see…
What Makes Florida so Attractive for Retirees?
The obvious answer is the weather, and Florida is known as the sunshine state because you can expect a lot of it year-round. The summers are hot, and temperatures can get higher than 100 degrees, during the days, and muggy, humid nights.
However, wintertime is the best weather in Florida and the reason snowbirds exists at all. They live 6 months in the mild Florida winters, and go back up north, during the summertime, chasing the better weather year-round. It isn’t a poor man’s game though…
Low taxes play a large role in people decision to move to Florida, and the low tax rates, coupled with zero state tax, makes for an attractive retirement structure, where those on a budget can still live well.
Beaches are always packed in the sunshine state, especially in popular cities like Miami, South Beach, The Palm Beaches, and The Treasure Coast. Pristine waterways, and white sandy beaches are appealing to just about anyone who appreciates the outdoors.
Not to mention, Florida provides tournament worthy fishing just off the coast, and this type of action brings millions of anglers each year.
Real Estate Options?
Florida Real Estate is comprised of many different housing options, some more popular than others, but these days, just about any type of property will sell if its priced ok.
Waterfront Real Estate is in demand and selling quickly. There are large waterfront homes for sale, that are set on the Intracoastal waterways, adjacent the Ocean, or, directly on the beach.
Waterfront condos are popular and range in price depending on weather they are located beachside, or within a waterfront community, set on the river. Condos offer an affordable waterfront housing option, that won’t break the bank, yet still provides a great lifestyle.
55+ New Construction Real Estate located within master-planned communities that provide resident only amenities like swimming pools, fitness centers, walking trails, meeting centers, professional golf, pro shops, marina, yacht clubs, and more. Many are gated so residents and their guest pass through effortlessly, while traffic gets regulated.
Townhouses are another great way for people to retire in Florida on a budget, without sacrificing room, or character. Many townhome neighborhoods provide amenities you would expect and are located within larger neighborhoods. Residents get access to everything those residents who live in larger homes get. New homebuilders are creating townhome communities throughout the state, that are built to current hurricane and construction codes, and come with 10-year warrantees or more.
What are the Negatives About Moving to Florida in 2022?
One of the biggest problems facing people looking to move to Florida and purchase their home are the rising prices. Last year was a record setting sales year and prices rose drastically, from past years.
Even with the soaring prices, there aren’t any houses on the market for sale. In some places there are less than 1% worth of inventory listed on local MLS websites.
Many new construction communities are sold out and new phases are becoming available with 1-year wait for homes to be built.
Final Thoughts?
With so much excitement about moving to Florida in 2021, the homes for sale are dwindling down to almost nothing in 2022. Still, the sunshine state offers so many wonderful reasons to live, work, and play here.
Although other southern states like South Carolina, and Georgia are great to retire in as well. It depends on if you are willing to pay high prices and wait for up to 1-year for your Florida home to be ready to move into, or not.
Plus, if you already have family living in Florida you might have to move there. It has been so popular in recent years, the chances of you knowing someone who lives there are high.
You can make a great retirement in the sunshine state with a little bit of planning, some money, and some luck…
