Around 36% of vacation buyers purchase real estate in a beach area. In fact, waterfront…
In recent times, many individuals have been forced to reconsider where they wish to live, retire, and raise their kids due to the current pandemic. Due to its rising inventory of single-family houses, townhomes, boutique condominiums, and luxury waterfront homes for sale that offer less congested living conditions, Florida has proven particularly appealing to people looking to relocate. Below are some of the reasons for this trend.
No place is more appropriate for new home purchasers as they approach the period in their lives when their children leave the nest than Florida. Florida’s beautiful environment and its friendly and polite Southern mentality epitomize why it’s a choice destination for retirees. However, the state’s beautiful environs aren’t the sole reason retirees continue to invest here. Florida’s economic potential and attractive lifestyle attract empty nesters and those with competitive financial portfolios.
Tax benefits are Florida’s most valuable asset. Three levels of personal income taxation exist in the United States: federal, state, and local. Only federal taxes are levied on personal income in Florida, alleviating a significant tax load. Individuals can optimize their discretionary income by combining a low-income tax environment with a low cost of living. This combination is a key component of Florida’s attractive formula. Its tax proposition makes Florida’s coastal communities even more appealing to prospective property buyers.
Excellent Living Conditions
Florida has a pleasant climate with a mean temperature of 72 degrees, making it possible for residents to enjoy the beaches, sea waves, and endless summer all year. The numerous open-air retail malls, high-end culinary dining outlets, championship tennis courts, and immaculate golf courses also offer residents numerous leisure hotspots. In addition, Florida is home to sports teams such as The Miami Heat, Florida Panthers, Miami Dolphins, and Miami Marlins.
Strong Financial Center
With approximately 100 foreign banks and trade offices, Miami is the United States’ second biggest financial hub. The economy has included higher-paying wage businesses in technology, aviation, health, wealth management, private equity, and real estate. In addition, Miami is one of the top five cities globally for internet speed.
If you’re a real estate investor, developer, or a relocating resident, strongly consider exploring Miami because of the existing socio-economic conditions and its promising real estate outlook. Reach out to us today for help with finding luxury waterfront homes for sale.