2023 promises to be a year of change. It may be time to consider buying a new home or investing in real estate. As the real estate industry continues to evolve, savvy investors are looking for the best places to buy property in 2023.
Florida is one of the most desirable locations for property investments due to its sunny climate and stable economy. With an estimated population of nearly 22 million by 2023, there’s excellent potential for real estate in the Sunshine State. From beachfront properties to high-end condos, this article explores some of the top locations Florida offers for prospective home buyers.
When buying a home or real estate, many customers worry about the quality of realtor services. Orlando real estate agents know how to find the best place to call it home for their customers. Realtors in Florida, are known for their professionality and client-oriented approach.
Florida has something for everyone, from bustling cities and quaint beach towns to countryside and farmland.
With so many incredible cities to choose from, it can be hard to decide where in the Sunshine State you should live. To help you, we’ve compiled this list of the best cities to live in Florida.
1. Tampa, Florida
Tampa is known for its cultural diversity, with residents of all ages and backgrounds calling it home. It’s a great place to visit but also a great place to live. The city has a lot to offer the more than 380,000 people who call it home. There are many things to do, including taking in a baseball game at Tropicana Field or heading out on one of the many Tampa Bay cruises.
2. Fort Lauderdale, Florida
Fort Lauderdale is a city that has something for everyone. People of all ages, backgrounds, and interests call this place home. The city is also a great place to visit, with many people spending their time on the water at one of the many beaches or heading out on a boat ride.
3. Miami, Florida
This city is a popular tourist destination for many people, not just because of the beautiful beaches but also because of the unique art and culture that can be found here. This city also has a thriving nightlife, a must for many young people who call this place home.
Why live in Florida? Pros and Cons
Advantages of Living in Florida
We will start with the good points, as living in Florida has many advantages. There is something for everyone, from the stunning beaches to the sunny weather. Whether you are a nature lover, an adventure seeker, or someone who just wants to relax, you can find it all here. Florida is known for its year-round sunshine and beautiful coastline, making it one of the most popular tourist destinations in the United States.
Take advantage of the warm climate. With an average summer temperature of 86 degrees and an average winter temperature of 70 degrees, you’ll have plenty of time to savor the sunshine.
Enjoy a variety of recreational activities. The state offers many fun activities, including boating, swimming, scuba diving, and snorkeling. Nevertheless, living there also comes with many advantages beyond tourism.
The State is known for its fruitful business climate. Florida is home to some of the largest companies in the United States. This includes divisions of Apple, CVS, IBM, and many more. Florida is the second-largest software exporter in the United States. Florida has historically ranked among the top states regarding the business climate.
Additionally, the state offers no personal income tax and a meager corporate income tax rate, which has helped to attract many businesses to relocate here. The state has also consistently ranked as one of the top states for doing business in the United States.
Finally, the quality of life in Florida offers a wide range of climates across the entire state, from sub-tropical to temperate. You’ll find that the state has a year-round growing season, and its nickname is the Sunshine State for a good reason. Florida’s warm weather is also great for business, allowing companies to keep their businesses open longer and provide more jobs. The state`s weather is also more conducive to a healthy lifestyle, which is excellent for the economy and people. Florida has a meager cost of living compared to other states, which helps to keep living expenses down for residents.
Drawbacks of Florida Living
Even so, before we build castles in the clouds, let’s talk about some downsides of living in the Sunshine State. From the hot and humid climate to the potential for natural disasters, several potential disadvantages exist when deciding if Florida is the right place to live.
Even though we have mentioned above that Florida has a reputation for being an affordable place to live, whether or not you`ll survive on a given salary largely depends on your lifestyle.
According to the U.S. Bureau of Labor Statistics (BLS), the average cost of living in Florida is 102% higher than the national average, which means that you`ll likely find it more challenging to make ends meet than if you lived somewhere like Texas or Mississippi. The BLS also says that while housing costs are higher in Florida than the national average, they are still lower than in many other states.
The same cannot be said for transportation and healthcare, both of which are more expensive in Florida than nationally. The salary you need to earn to make ends meet in Florida mainly depends on where in the state you live. For example, the average wage you need to make to cover a mortgage in Orlando is $3,000 higher than in Miami.
One of the major drawbacks to living in this subtropical climate is the potential exposure to pests. An array of insects and other creatures flourishes in this environment, making it difficult to go outside without encountering some sort of pest. From mosquitos and ticks to cockroaches and spiders, a variety of species can become pests when they enter our homes.
When these pests enter our homes, they can be annoying and cause damage. If you have a family or pets, this can be particularly damaging because of the health threats that are posed.
Real estate market in Florida 2023: figures and statistics
The real estate market in Florida is an ever-changing landscape that has been on a steady rise in recent years, and 2023 is expected to be another profitable one for the state’s real estate market. It`s essential to take a closer look at some of the current figures and statistics from this booming sector.
By analyzing key indicators such as trends, pricing, and affordability, buyers and sellers can gain insight into what they can expect in the coming year.
In 2022, over 285,000 single-family homes were sold in Florida, and the median price for all properties bought was $470,000. While these are impressive figures, the homes sold were down from 2021 by 18%. However, the median price was still up 15.7%.
Where are the most expensive properties in Florida?
Florida has a vast territory and a variety of options for living. Beachfront properties command a high price point, whereas towns in Northern Florida can offer affordable living.
The most expensive city in Florida is Palm Beach, with its luxurious lifestyle and upscale shops. In addition, the city of Miami Beach, located on an island accessible by a causeway, is elite and costly. The average price for properties in this area was $560,000. Miami Beach is one of Florida’s most popular tourist destinations, with some of the most expensive properties located along the beachfront.
As we can see, the real estate market in Florida has many advantages and attracts new buyers and investors. While buying a home in this state can take time and effort, once you buy a home, you can enjoy the sunshine life in the Sunshine State.