Core reasons to buy new construction homes Jacksonville FL, Florida real estate investment, USA buildings
Buy new construction homes Jacksonville Florida
December 12, 2022
Florida is one of the most popular US states, while Jacksonville is one of the greatest cities in it. And unsurprisingly many Americans want to buy real estate in Jacksonville – either to move closer to the ocean or to invest in a promising market.
Having all that in mind we came up with our own research on why people tend to buy new construction homes Jacksonville FL.
Read on to see some shocking insights!
Florida homes benefits for permanent residents
First, let’s consider the traditional reason why people purchase new houses – to move into them. So these guys take advantage of the following benefits:
- Comfortable climate – most days of the year are sunny, mud and cold are absent. You can swim all year round, winter clothes are not required.
- Affordable housing prices – in California and New York, they are an order of magnitude higher, while in Florida you can buy an apartment for $400,000.
- Stable economy and developed infrastructure – the state has a high quality of education and medicine, while the cost of living is at an average level.
- The tolerant attitude of local residents towards foreigners – difficulties with adaptation when moving do not arise.
Therefore, moving to Jacksonville will suit both US citizens and other people seeking a better place.
Benefits of Florida real estate as an investment
As an investment, buying new construction homes in Jacksonville, FL is no less profitable:
- Value capitalization – housing prices are on the rise. This allows you to resell your home for more in the future.
- High liquidity – the demand for housing stock is consistently high. Therefore, if there is a desire to sell houses, a buyer for them will be found quickly.
- Wide selection of objects – you can choose your option for any budget level. Available from compact and affordable homes to luxurious villas priced at several million dollars.
- High profitability – the annual rental rate varies from 6.5 to 10%. The most significant indicators are in the resort zones.
- Regular increase in rent – in 2022 in Jacksonville it reached 37%, in Tampa, the rent increased by more than 34% – in other cities of the state, the figures are lower, but prices are still rising – such real estate allows you to receive a stable passive income from renting out.
Undoubtedly, new construction homes can serve if not as a Goldmine but at least as a stable diversification tool.
Florida real estate investment prospects
The state is and will continue to be a popular resort destination. The tourist season lasts all year round, which allows you to make a profit throughout the year. Experts believe that demand will continue not only for rental housing. It will be no less in demand among buyers for the following reasons:
- Offers will be reduced. This will especially affect the coastal line, where fresh development is impossible due to the lack of free space.
- Active population migration will also cause a shortage of housing.
These circumstances contribute to the capitalization of value and allow you to resell the property at a higher price – see https://newhomesmate.com.
Experts also note that, most likely, in the foreseeable future, housing prices will not fall. This is largely due to affordable mortgage rates and regular population growth. There is a high probability of a reduction in proposals, especially in the coastal zone on the first line, due to the insufficient number of complexes being built. Therefore, it is more profitable not to delay the decision to invest.
Core reasons to buy new construction homes Jacksonville FL Bottom line
Florida remains one of the most popular US states. In the past year alone, the population of the region has increased by more than 300,000 people. This makes the state’s housing stock in demand both among those planning to move for permanent residence and those considering it as an investment.
However, it is still possible to buy real estate in Florida profitably, although housing prices are rising regularly.
In 2022, analysts indicated the average housing price in Florida. It is 385 thousand US dollars. If you compare this figure with sales offers in New York or Washington, you can clearly see the availability of real estate.
Although in Florida it is important to consider that the cost of an apartment or house is directly related to the area and location of the property.
Comments on this guide to the core reasons to buy new construction homes Jacksonville FL are welcome.
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