How Much Does It Cost To Buy A Home In Florida?
If You Are Looking AtCentral Florida Homes, You May Have Already Wondered: How Much DoesIt Cost To Buy A Home In Florida?
As in any purchase, the cost is a deciding factor. So, beforeyou deep dive into the Sunshine Coast’s real estatemarket, a key question you should be asking is: Howmuch does it cost to buy a home in Florida?
According to one source, the average home value in Florida is$252,309. Over the past year, the cost of homes in Florida went upby 3.6%. The median list price per square foot is $170. The medianlisting price is $299,000 while the average cost of a home inFlorida is $247,600.
Another list that ranks U.S. states based on the cost of buyinga house puts Florida at number 20 out of 50 states.
The median cost per square foot has been on the rise in allstates. In Florida, it went up 40.8% from $118 in March 2014 to$166 in March 2019. But when you look at it in the last two years(2017-2019), the growth in price per square foot of Florida homesfor sale is lower than the national average of 12.4% (2017-2019)and 6.1% (2018-2019). In short, the slower growth rate is a goodsign for potential buyers who are looking to Florida for aninvestment or a residential property.
Perks Of Living In Florida
- When calculating the long-term cost of owning a home inFlorida, you should consider the fact that there is no state incometax. This means no income, inheritance, or estate tax. When youretire, you do not have to pay tax on your pension and retirementincome. For homeowners, the average property tax rate is at 1.02%which is less than the U.S. average.
- In Florida, driving is the best way to get around. The averagegas price is $2.76 per gallon. This is below the national averagewhich is at $2.89.
- The Sunshine State is so named because of its beautifulyear-round weather which is conducive to many outdoor activitiesincluding golfing and beach-hopping. Florida is a great choice ifyou want to invest in seaside luxury homes because of itsbreathtaking sceneries.
- Florida has diverse communities. It’s a top choice forretirees, families and university students. The robust localeconomy also attracts many young professionals.
Ready To Find Your Central Florida DreamHome?
When people think of Central Florida, Orlando is the first placethat comes to mind. And it is easy to understand why. Orlando isknown to the world as home to famous theme parks. There are plentyof recreational destinations and as residents, you do not have totravel far to visit them. There is always something to explore onweekends.
The cost of living in Orlando is 3% lower than the rest ofFlorida. It is also a major travel hub, with three airports andvarious train lines.
Orlando is, without a doubt, an amazing choice if you want tosettle down in the Sunshine State. But there are more choices inCentral Florida, especially if you are looking to live away fromthe hustle and bustle of bigger cities or if you want to be closerto nature.
Enjoy the small-town vibe of Harmony or Saint Cloud. Or live inluxury at Lake Nona. We can help you find a home that best suitsyour needs or your budget. Give us a call now and let’s getstarted.