Leila D.: buying a house

Investing in Florida Real Estate

May 11, 2021

Have you ever thought of moving to Florida or buying a property there?

I grew up in Orlando, Florida and I think it's the best place to invest in a property. Florida's population grew 14,6 % in the last decade. People are constantly moving to the Sunshine State because of the beautiful weather, growing economy and the low taxes make things even better. In addition there was not a harsh lockdown like everywhere else. Florida is open and welcoming people.

In other states many people had to close their businesses due to the lockdown, but they opened them again in Florida, thus creating new jobs for Floridians. The number of unemployed is at a record low, and the salaries are rising, further the minimum wage is said to be $15 per hour by 2026.

Renting or buying a home?

Renting a house is a good option if you don't want to be tied to a property. You don't have to worry about making any repairs by yourself or paying much upfront except the security deposit. The disadvantage is that you can't change the interior or exterior according to your taste.

When you buy a house one of the good things is that you can change the things that you don't like, but you have to pay for any repairs yourself.

There are a lot of hurricanes in Florida, so make sure you have good insurance. The great thing is that you can pay it off, or you can sell the house and it's likely that you will make a profit from it in the long run. In my opinion in Florida it's always better to buy than to rent.

I intend to purchase a house in Orlando again someday. Even if I don't plan to live there full time, I find that investing in a property is a great idea from which you can profit in the long haul. It is a stable economy with lots of opportunities.

I've been looking at some homes, just browsing around and trying to figure out what I can afford. I am using the minimum income requirement and monthly payment calculators. which make everything so much easier for me. There are so many different calculators to choose from and every time I see a potential property I just type the info in and they do all the work. They are a lifesaver.

Housing market in 2021

Right now there is a big demand which has caused the prices to climb. The interest rates are low therefore the housing market is booming. It is a great time to sell a house, that's why many people are selling their homes this year, but buying new ones too. The properties are selling extremely fast and the inventory is very low.