People are always worried about the central Florida real estate market. People want to know if it’s going to stay strong or if it’s going to collapse or do something completely unpredictable. Today, I’m here to reassure you that central Florida is anything BUT unpredictable – in fact, it’s so predictable it’s bulletproof. No matter what happens across the country, you can feel good in the fact that we have so many things buoying us here that you’re never going to feel the changes like you would in other real estate markets across the country. At the end of the day, we have a few major bonuses:
- No state income tax
- Homes below $300,000
- Jobs galore
- A-rated schools
- Only an hour away from some of the best vacation spots in the world. Thanks to these things, the central Florida real estate market is bulletproof, no matter what happens in the coming years.
1. No state income tax is huge when it comes to central Florida real estate.
States that have no income tax typically see the most jobs, a bigger rise in population, and even better tax revenues. More jobs mean that people who are born here are going to stay here. By staying here, they’re going to move out of their parents’ homes and they’re gonna need somewhere new to live. More jobs also mean that people will move here for the all the opportunities, and that means they’re also going to need places to live. A rise in population means families are going to need to move even bigger homes, so they’ll sell those smaller homes, which the younger people will buy up, and eventually move into something that’s going to land you even more commission. The tax revenues section of this may not make sense at first, but let me explain. Higher tax revenues let the state have more money to invest in itself, meaning things like better highways and better infrastructure. This creates a safer and more stable state and encourages people to move here, and you’re going to have to start running to keep up with all the central Florida real estate housing transactions it’s going to bring.
2. Now, we also have homes that are below $300,000 dollars here in central Florida real estate.
Why is that so important? It may seem like that could potentially hurt Florida, because more expensive homes mean more money in realtors pockets, aka our pockets! However, the smaller transactions are what happens on a daily basis – I might get one or two big transactions a month, but what you want to keep the real estate market alive are these lower price transactions, because they not only appeal to first time home buyers, but you also get the chance for people to buy a second property or even an investment property. By having people buying more in smaller chunks, it’s gonna help insulate the central Florida real estate market from those times when the rest of the country is struggling. And let’s be honest here! There are plenty of people out there who a home value of $400,000 is unattainable for them. However, a home that is $100,000 is going to be in their budget. This means you have more of the lower and middle class participating in the real estate market, and the more people who are doing transactions, the more opportunity you have for it to make minor changes itself and stop the market from solely being a buyers market. The more transactions you have, the more the central Florida real estate market is going to not make a huge correction, but stay stable and not become a buyers market in times of slower activity.