Who doesn't love living near or on the beach, close to Disney and Universal Studios, or in a nice tropical paradise filled with rivers, beautiful nature, and tons of activities for the family (no matter their taste)? The obvious answer is nobody; Florida is a giant mixing pot for many reasons. People from other states are more frequently deciding that Florida is perfect for them, not just because of the things listed above, but for the fact that it is more affordable; Especially those in high tax states.
One example is New Yorkers beginning to find themselves moving to Florida.
Jonathan Miller, a real estate appraiser who focuses on the South Florida market, says he's "Starting to see New Yorkers as Florida's new foreign buyer."
The new tax laws that were passed in 2017 are going to bring more and more people to our beautiful state. A few other northern states that could find themselves losing to Florida homes are Minnesota, Iowa, Vermont, New Jersey, and Wisconsin. However, it’s not just northerners who seem to love Florida. According to Census data from July 2017-2019, Florida had the nation's highest level of net domestic migration.
Our state is even more attractive to those over 55 years old, and that is not just because it's an excellent place for the grand-kids to visit, or to retire and unwind after a life full of hard work. Florida houses many fantastic opportunities in real estate for those 55 and up individuals.
"Overall, builders and developers in the 55+ housing market are reporting strong demand across the country," says Chuck Ellison, chairman of NAHB's 55+ Housing Industry Council and Vice President-Land of Miller & Smith in McLean, Va. "However, builders need to continue to manage rising construction costs to keep homes in 55+ communities at affordable price points."
Florida is known for its high amount of retirees because of its warm weather, fantastic golf courses, and price of living. More affordable homes will equate to more residents and longer resident stay because people love affordable homes in beautiful locations.
Florida has something for everyone, from the sun rises and sunsets to the best beaches in the country. No matter who you are or where you’re from, you will love Florida and the many opportunities for memories it holds.
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