© foto footprints (Flickr) Walk day 1 (27) – Lane to Ault Hucknall
© foto footprints (Flickr)
Best Florida locations for property investment
Florida’s most popular regions include the central region, the Gulf Coast and the Atlantic Coast. Central Florida is home to some of the biggest tourist attractions such as Universal Studios, Disney World and the Underwater Sea World. The region enjoys a relatively warm weather throughout the year. High rental values of properties in this region make it a lucrative investment for people who are looking to invest for profitable returns. There is a regular market demand for detached vacation villas with pools in this region. Florida homes around the Gulf and Atlantic Coasts are ideal for investors looking for high-end real estate set in the midst of scenic beauty and stunning beaches. A majority of the wealthiest American citizens and celebrities spend time at beach houses in these areas during winters. Waterfront properties here may cost nearly twice that of inland properties in Orlando, but they still command a strong resale value.
Restrictions on self-use and letting
Florida does not place restrictions on foreign investors from most countries looking to buy property in the state. However, there are restrictions on the length of time a foreign homeowner may spend in the state in a year. Most areas in the state also impose limitations on the number of days a homeowner can let out the property on rent, while letting is banned altogether in a few locations. Therefore, an investor who plans to retain the property for personal use or buy for rental investment should carefully check out the local laws before investing.
How easy is it to buy property in Florida?
Buying real estate in the United States is usually less complicated than most other countries around the world. Florida is an investor friendly state, providing a safe and simple approach to property ownership. One of the easiest ways to acquire property here is to get in touch with a reputed and fully licensed real estate brokerage firm that can ensure a successful purchase transaction for you.
Non-resident investors are also eligible to receive secured loans of up to 70 percent value of the purchase. A number of good mortgage programs are available, and the investors can make a choice between variable or fixed mortgage. Loan repayment terms may range between 5 and 30 years without any restrictions of age. Closing costs, appraisal costs, and credit report costs should be taken into account while estimating the cost of mortgage.