Bay to Gulf Holdings: What are the common myths about Florida real estate investments?

7 Most Common Myths About Florida Real Estate

Florida has a very popular image worldwide and its “sun, sand, and sea”. Everyone dreams of owning a property in Florida – some need a family home while others are looking for an investment property. Florida is a real estate investor’s dream destination. Great quality of life with excellent work-life balance, a growing population, and a thriving job market are the main reasons for such a boom in the real estate industry.

However, buying a property is a major decision and there are many myths about investing in the real estate market in Florida. Bay to Gulf Holdings debunks some of the common myths below:

1. Look for the right time

There may be many websites and articles on the internet which claim to know the right time to invest in Florida. However, the reality is that even with detailed research and in-depth knowledge, a 100% accurate prediction is not possible. A thumb rule to go by is “there is a never bad time to start”. Investing in the real estate market is an important decision and once the buyer is ready to go ahead, there is no need to wait for the right time to arrive.

2. Too expensive

It is a very common notion among international buyers that one needs a lot of money to invest in Florida. The reality is that there is a wide range of options for investors- starting from small cottages to more expensive luxury homes. Bay to Gulf Holdings can help to find the right property ensuring that the buyer makes a secure investment and enjoys benefits from their Florida holiday home.

3. Florida is all about theme parks

Walt Disney World and Universal Studios are top international tourist attractions. However, Florida has much more to offer than these theme parks. There is a very large coastline, stunning beaches, sleepy villages, and excellent natural wildlife habitats that offer an escape from the hustle and bustle of the city. To top it all, Florida has near-perfect weather with temperatures ranging from 61 ºF to 82 ºF.

4. Never offer full price

Buyers tend to offer a price way lower than the asking price to save money. However, particularly if the buyer is looking for a luxury home, this low-price offer may not be a good option. Luxury homes are generally in high demand in Florida. The best thing to do would be to offer a competitive price. BTGH can provide advice on the right price to offer for quick and transparent purchases.

5. It is better to do it yourself than through a realtor

Real estate investment should not be treated as a DIY project. The reality is that it is always better to have the advice of a real estate firm. A professional firm will:

Have access to properties that are not listed online
Have excellent negotiation skills
Provide help with the legal formalities of the purchase
Be able to find a property that suits the buyer’s pocket
Have information on which property may be coming up for sale in future

6. Some properties are available at their lowest rates

Some buyers believe it is better to look for an investment property that is available at their lowest rates. The reality is that such properties might require a lot of renovation/repair and might come with many hidden costs, thus burning a hole in the buyer's pocket. It is necessary to conduct inspections thoroughly before buying.

7. Too young to invest

Young buyers are prone to procrastinating and speculating. Investing in real estate is a great option that can provide good returns later on in life. Young investors can take advantage of their age and risk-taking ability. Starting early helps to reduce mortgages and by making the right investment early on, they can reap the rewards of property appreciation for a long time.