Well, 2021 has been a record setting year for real estate sales in popular Florida cities. In fact, home prices have risen sharply over the past year, even to the point that appraisals aren’t coming in high enough, and it has become challenging to get a mortgage to purchase the house you love. Still, Florida homes are in demand for a plethora of reasons that consistently attract people from all over the world. So, why is Florida’s housing market so extremely hot?
Beautiful Weather & Fun in the sun!
It’s no secret that Florida has some of the best weather to enjoy all year round, hence, being known as the sunshine state. The summertime is hot and humid, so you will want to enjoy all the outdoor activities, Florida provides naturally.
Pristine beaches, with white sands, and crystal-clear ocean waters, can be found on hundreds of miles of coastline available in Florida. Some of the best things to enjoy outdoors include:
There are world-class fishing tournaments throughout Florida, where anglers compete to catch some of the world’s most cherished fish like, mahi-mahi, tuna, swordfish, sailfish, and others.
The winter months bring seasonal resident to Florida from up north in places such as New York, Jersey, Connecticut, and other places. The temperature stays around 70 degrees during the days, and brisk 50-degree temps are common in December, Jan, and Feb months.
What About the Houses in Florida?
The hot housing market that Florida has experienced during 2021, seems to be the same sellers’ market, that will remain into 2022. In fact, many new home builders have come to the state, to build brand new construction communities, that cater to buyers looking to retire in style. Plus, family-friendly neighborhoods are popping up all over the state, especially near the best school districts like those in Martin County, FL.
New Construction Home Sales are Booming!
These new homes for sale are a bit more expensive than your typical resale, but you do get a lot more value when you break it down completely. The new homes are built using the latest, and greatest, construction materials available today.
They are built better, and stronger, than ever before. You can expect to find CBS construction, impact doors and windows, and reenforced garage doors, that can withstand the force of hurricane strength winds.
Not to mention that the luxury, and creature comforts available, in new homes today, is truly impressive. Some of the builders offer Alexa and wireless internet integration, which is built into the houses A-frame, so you don’t even know it is there at all.
Other smart integrations include digital appliances, smart lights, tankless water heaters, and more.
Are Builder Incentive Programs Available?
The “sellers’ market” Florida is in dictates many of the market prices and builder incentive programs. Most new home builders do not offer robust buyer incentive programs any longer, because they simply do not need too. In most cases, you will need to purchase a brand-new house in Florida, well before you plan to move into the home. The builders are selling out communities within a matter of months in 2021.
It is always recommended that you consult a local real estate agent, who can guide you through all the builder’s incentive programs, and availability of homes for sale too.
Can I Still Get Financing?
Yes, even with a fast-moving market, you can find excellent financing options available to help you purchase the home you want to. However, these days, well qualified buyers, will still need to be flexible and creative in their financing approach, to ensure their offer to buy, is solid and attractive to potential sellers. Again, you should always contact a trusted mortgage broker company, who can provide you with the best home loans available, that you can utilize.
The housing boom being felt in the sunshine state, is also being felt in destination hotspots around the world. But people are moving to Florida at a record pace, so if you are interested in moving, then check out the homes online before you go to buy. You can get a lot of the homework done via the internet, which can save you time, money, and brain-damage, that you may otherwise experience without being really prepared.
Remember that new homes are in demand, and you might not be able to buy within the community your interested in. However, new neighborhoods are being built today, and others are being planned now for construction to begin in mid-2022. So, just because one neighborhood is sold out, doesn’t mean that you can have first pick of the properties for sale in a brand-new neighborhood being planned for construction next year. Provided that you can wait the amount of time necessary, to buy a future built home in Florida today.