Florida includes many cities that offer unique advantages and a certain standard of living suitable for completely different people. Therefore, some buyers may need help finding a location to purchase a residential unit. For young professionals, a villa in Boynton Beach, Florida, is the best choice, while properties in Sarasota are ideal for retirees seeking a more relaxed lifestyle. The following guide aims to help potential homebuyers in Florida.
Top Florida cities for young professionals
Young professionals planning to move to a sunny state tend to be interested in a city that offers plenty of job opportunities, an active nightlife, and a large population of locals their age. Here are a few locations that meet these criteria:
- Miami Beach;
- North Bay Village;
- Jacksonville Beach;
- Doctor Phillips.
Best Florida cities for retirees
Florida is one of the most popular choices for people who have saved money all their lives and retired. The Sunshine State has topped the list of the best places to live in old age year after year. Most often, the choice of pensioners falls on the following cities:
- Boynton Beach;
- Daytona Beach;
The best cities in Florida for people on a budget
Seasoned expats who have moved multiple times know that one of the most important things to do before choosing a new location is to make sure they can afford to live there. One way to understand this is to study the cost of living in Florida. The cost of housing is the most significant factor determining whether an expat can afford to live in the state.
The most affordable real estate is presented in the following areas of Florida:
- June Park;
- East Milton;
- Virginia Park.
Many of our compatriots today are moving to the United States for permanent residence, and buying a home is the first step towards obtaining citizenship in America. One of my favorite places in Florida. This state, without fear, can be called a paradise: gentle sun, warm ocean, endless sandy beaches, breathtaking landscapes, and friendly people. In addition to a favorable climate, Florida is attractive for immigrants with a high standard of living: low taxes, low mortgage lending rates, and a good business climate. Even in winter, this is practically the only region on the North American continent where you can enjoy the sun’s warm rays.
According to experts, now is the most favorable environment for purchasing real estate in Florida. In a few years, prices can rise significantly. Low real estate prices are associated with an unstable situation in the country’s economy, because of which they fell by 35% and almost reached the bottom limit. There is also a chance to buy real estate alienated by banks, with the price below the market. According to forecasts, the US economy will recover in 2-4 years, due to which real estate prices will rise. Therefore, a house or apartment bought today can be sold much more expensive.
American law allows any foreign citizen to purchase housing without any restrictions. Registration of real estate is possible for individuals and legal entities. There is one minus: it is possible to take housing on credit only if you have a permanent income in the United States. Agencies offer a complete package of services: from selecting suitable options to assisting with paperwork at the point of purchase. A standard contract is concluded with the agency, which specifies all the rights and obligations of the parties signing the contract, terms and conditions of payment, and criteria for choosing a company that will be an intermediary and guarantor of the transaction in the United States.
If you issue a power of attorney at the US Consulate, you can personalize and not leave your country of residence to view the selected options. The client is obliged to deposit a security deposit of 2-5% of the total value of the object to a special escrow account of the intermediary company before the completion of the transaction. On average, it takes 2 months to complete all the documents.
The obligatory real estate insurance US legislation provides immediately issued upon purchase. It should be noted that when purchasing real estate in Florida, you must strictly comply with the terms and conditions specified in the contract. Otherwise, you can be left without real estate and a deposit. The paid expenses include a mandatory inspection of the object’s condition by a licensed specialist. Rejoicing in the purchase, remember to pay taxes on real estate and rental income, if any. You need to pay a certain amount every year before April 1, which is usually 1.5-2.5% of the total cost (real estate) and 15-34% (rent). Part of the costs will be various utilities. In residential complexes, in addition to standard services, you need to pay for parking, security, swimming pool access, landscaping, and cleaning of the surrounding area.
The average price for one object purchased by a foreign citizen is 219 thousand dollars. The housing choice is diverse; many houses are built on individual projects. At an affordable price, you can buy an elite house in a gated complex on a small island surrounded by palm trees and away from the hustle and bustle. For lovers of sailing, you can purchase a luxury villa with a pier on the bank of the canal, through which you can go to the ocean.
Many properties are sold furnished, which is very convenient for foreigners. Most villas are equipped with a swimming pool and a garden on the territory; the yards are ennobled according to all the landscape design rules. However, in the presence of a pool, the price increases by tens of thousands of dollars.
Help with buying property in Florida
Finding residential and commercial units in Florida can be tedious for buyers unfamiliar with the US real estate market and need more investment experience. To make a profitable investment or find a dream home to move into permanently, check out the information on official Florida.Realestate website. You can find the best deals on the Florida real estate market in his catalog. Specialists working in the company are ready to help buyers select the optimal object that will meet their taste preferences and financial capabilities.