Florida has become the second most valuable housing market in the U.S., but what led to the boom? The Sunshine State has experienced quite the growth in population since 2012, surpassing 17 U.S. states. This has led to several metros and smaller cities gaining a large number of residents as well as an increase in value.
Many new homeowners are making their way to the Sunshine State due to changes with work, housing, and standards of living. There is more flexibility with remote work. New housing constructions and lower house prices provide more opportunities. The state’s mild temperatures, lack of income tax, and a feasible cost of living (especially compared to places like New York and California) also adds to Florida’s attraction.
Still, you should do your research before making the final decision to move to Florida. This can involve creating relationships with local real estate agents, businesses, and fellow homeowners in your desired neighborhoods. Staying on top of interest rates daily and understanding the mortgage and closing cost options you have are also ways that can help you streamline the house-buying process. With the right housing knowledge and resources you can make the home-buying experience less of a hassle.