All the Things You Need to Know Before Buying Property

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Are you thinking about buying property in Florida? Are you comparing realtors? Whether you’re looking at condos for sale or some beach real estate, read on for everything you need to know about this great state and what it offers to those who get property there.

Facts About Florida

The surface area of the state of Florida is 65,755 square miles, which means there’s plenty of space. The population currently runs at over 21 million people, but that population is growing by nearly 1,000 people every day. Every year, Florida has more than 100 million visitors. It’s clearly a popular destination for visitors and home buyers.

Facts About Real Estate

For a non-distressed home, the median sale price in recent years has been $216,000. WIth foreclosed homes, the median price is a lot lower, at $155,000. That’s nearly 30% cheaper than non-distressed homes. When speaking of vacation homes sold in 2016, the average price was $200,000, which is up 4.2% from 2015.

Know Who is Buying

A lot of people are contacting realtors about buying a luxury home or an oceanfront condo in the area. A survey done in the spring of 2017 showed that there are over nine billion people in the United States who live in a household that owns a second home. A lot of those people are talking with realtors in popular vacation destinations: in fact, if Florida’s growth continues at the current rate, it will likely have more than 22 million residents by 2020.

Know What Others Are Buying For

When people buy new homes, 42% of them are planning to use it for vacations or family retreats, according to recent surveys. And a lot of people are looking at beach real estate for sale. Of all buyers, 36% bought property in the area around a beach.

Know Your Realtors

Whatever type of property you’re looking at, you want to choose the right realtor to help you make the decision. Start out by asking friends and people at work for recommendations. If people have had good experiences with realtors, they’re usually happy to tell you. Then, look at the realtor’s track record: how long have they been in business, and how many clients do they have? You’ll also want to know if they cover the areas where you’re looking, and it doesn’t hurt to ask in advance about what kind of communication to expect.

Buying property is always time-consuming, but it doesn’t have to be painful. Knowing a bit about what you want and what’s available and then choosing the right realtors can help you make the process as smooth and easy as it can be.

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