Lately there have been some concerns about the U.S. real estate climate.
Homebuyers and real estate investors have been leery because they don’t want to get in over their heads. This concern has also extended to Canadian citizens looking to purchase U.S. real estate. However, the Sunshine State in particular has shown many positive signs of recovery. The Florida market is rich with opportunity for investing in a second home. If you are considering becoming one of these snow birds, the best time is right now.
The climate in Florida is really a U.S. real estate buyer’s market for a number of reasons.
One of the main causes for this favorable situation is because home prices have fallen around 20% over the past few years. This is because the amount of homes on the U.S. real estate market has grown and there is a wide assortment of price ranges to fit any budget. This will not last forever though, in order to take advantage of this situation it is important to act now. Prices are expected to rise and return to normal as more and more people take advantage of this and inventory levels shrink.
One of the reasons that people are expected to take advantage of these prices is that there are a large number of people who migrate to this state every year. This means that there is a constant influx of people looking for a place to live. Much of this is due to the fact that it is a favorable spot for retirees. The influx of retirees is expected to grow as more and more baby boomers reach retirement age.
Another thing to consider is that Florida is a growth state. It has been growing for the last decade and is expected to continue this trend. If this rate of growth continues, Florida is will soon have the third largest population of any U.S. state. This will create a need for economic development driving real estate prices higher. By buying in Florida now, you will be taking advantage of a favorable climate for long term U.S. real estate growth.
One of the best ways to look at owning a second home in Florida is to consider it an U.S. real estate investment.
Studies show that one of the biggest sources of household wealth. The equity that is earned over the time that you own the home offers a stable investment for your money. It can be considered and investment with fringe benefits because not only do you stand to profit from real estate appreciation, you also get the benefit of having a second home that allows you the luxury of enjoying a little break from colder climates each year.
If you have been considering escaping the frigid temperatures of northern winters, the current market in Florida offers an excellent opportunity for purchasing U.S. real estate.
For more information on purchasing real estate in the U.S. you can opt in below. This will allow you access to an educational video series on how to buy real U.S. real estate as a Canadian.