Florida has become an increasingly popular place to live because of the weather, the location, the lack of income tax, and the job opportunities. Whether you’re a Florida local looking for a new home or moving to the area from out-of-state, you need to know how to navigate the dynamic Florida real estate market so you can be sure you find the right house at the right price without settling for anything less than the best.
Navigating Florida’s Dynamic Real Estate Market: Ten Expert Tips
1. Know Your Budget
Before you do any house shopping, you must know exactly how much you have to spend. While this number may fluctuate depending on how much your current home sells for, you need at least a ballpark budget to narrow your search.
That way, when it comes time to close, you won’t feel stressed or end up with a house payment you can’t afford long-term. Working with a financial firm to get prequalified for a loan and examining your finances and current budget will make the entire process easier.
2. Choose Your Ideal Location
Location is everything, especially in Florida real estate. The location of your future home will affect your future resale value and quality of life. If the home is too far from your job, kids’ school, or a grocery store, life won’t be as convenient as it could be.
For example, if your ideal location is near the water but requires that you make a long commute to work, weigh the pros and cons before you search for and purchase that home so that you don’t regret your choice once it’s too late. Waterfront properties are typically more expensive, but if living near the water is a non-negotiable, you can adjust your home search accordingly to find the right options.
3. Determine How Much Work You Want To Put In
Some buyers want a turnkey property; others are willing to make cosmetic or structural changes to make the home exactly how they want it. Homes that need some extra work are typically more affordable than those that don’t, but you will need to account for renovation costs, so if you choose to go that route, plan your budget accordingly.
If you find a home that needs some cosmetic upgrades, find a contractor who can quote how much money it will take to make your new home exactly what you want.
4. Make a List of Your Non-nNegotiables
Before you start looking for a new home, make a list of all your non-negotiables, whether that’s a certain location, lot size, square footage, or style of home. If you need a certain number of bedrooms, don’t consider homes with fewer so that you won’t be disappointed with a home that doesn’t meet your long-term needs.
5. Visit Potential Homes in Person
If you’re shopping for a home from out of state, it may be worth booking a trip to explore Florida real estate so you can ensure your potential options are up to your standards and see them in person before committing to the sale.
Buying a house sight unseen can be risky, especially if you rely on pictures alone to determine its condition. When you visit the homes in person and work with a realtor, you’ll get a better idea of how the houses feel and can judge them for yourself.
6. Have an Open Mind
While it’s important to have non-negotiables, you must also have an open mind. That way, you won’t immediately reject the home that may end up being exactly what you’re looking for. When you begin the home-buying process with an open mind, it will open the door to potential options that may provide you with years of enjoyment and excellent resale value.
7. Think Long-Term
When purchasing a home, it’s important to think long-term. That doesn’t mean you have to commit to living in the house forever, but you want to know how long you’ll be staying so you can choose accordingly. If you plan on living in a home for a long time and don’t want to move again, search for your forever home.
If you plan on moving in the next one to five years, shop for homes that you love that also will have a good resale value. That way, you’ll get the best value when it comes time to sell.
8. Spend Time Exploring the Neighborhoods
It’s important to explore the neighborhoods of all your potential options. Drive around the neighborhoods at different times of day to get a feel for the area, the noise, and what living there will be like. That way, there won’t be any surprises once you move in.
9. Don’t Settle
Don’t settle for something just because you need a house. When you have an experienced realtor to help, you can trust that they’ll provide you with the best options and help you narrow your search to ensure your next home meets your needs, suits your lifestyle, and is one you’ll enjoy living in.
10. Enlist the Assistance of an Experienced Local Real Estate Agent
The best way to navigate Florida real estate is with the help of an experienced agent who knows the homes and the neighborhoods and how to help you choose the best one. With a real estate agent who can work on your behalf to help you find your new home, there will be no guesswork on your part. You won’t have to spend hours exploring Florida real estate; instead, you can review the listings the realtor sends and choose your favorite options.
If you’re ready to begin the search for your dream home, we’re ready to help make this process as quick and stress-free as possible. Contact the RE/MAX Florida Team in South Tampa, FL today to find an agent who will help you navigate all the available homes and choose the one that’s the perfect fit.
