Home Buyers And Investors Can’t Get Enough Of Central Florida Real Estate.
A piece of Central Florida real estate is always an attractive prospect for many people. This is due to key factors such as location, economic growth, tax benefits, and a booming population.
- Location. Central Florida is renowned for its holiday hotspots. Its most popular destination is Orlando which is the ‘theme park capital of the world.’ For homeowners, this means a year-round opportunity to take advantage of the high demand for accommodation. For instance, lakeside properties are a great investment. They have strong potential for long-term revenue. The experience can be marketed as a luxury home holiday that will cater to a more affluent market.
- Economic growth. In 2019, a national economist forecasted Florida’s average economic growth rate at 3.1% per year through 2022. Tax cuts and faster wage increase were key drivers for this development. But with the pandemic devastating communities around the country, the same economist noted that the Sunshine State will likely go back to pre-pandemic levels by the third quarter of 2021.
- Tax benefits. Residential property owners can get tax benefits like the homestead exemption. This is for owners who make their Florida home their permanent residence. There is also no personal income tax here.
- Booming population. Orlando, alone, has seen a double-digit population increase since 2010. This is one of the reasons why Central Florida has robust job growth and a fast-growing real estate market. The influx of professional, families, and retirees drive demand for suitable home options.
Where To Live In Central Florida
Aside from Orlando, many people are flocking to small, modern towns like Harmony, St. Cloud, Lake Nona, Mount Dora, and Kissimmee. These communities offer the perks of living close to the big cities minus the traffic and the crowds.
Harmony is a walkable community with different types of homes and a wide range of amenities. St. Cloud is an Orlando suburb that is conveniently located so you can still enjoy the perks of big city living.
Lake Nona is ideal for avid golfers. It has a professional-level golf course. The community is also home to a Medical City where the Nemours Children’s Hospital and the Orlando Veterans Affairs Medical Center are.
Kissimmee is another option for those who enjoy nature tripping and other outdoor activities. Mount Dora is known as the ‘Cape Cod of Florida.’ It is a charming community with beautiful lakes, hilly streets, and artsy boutiques.
Ready To Look At Central Florida Real Estate For Sale?
The Corcoran Connection is renowned for our honest, timely, and adaptable service. More than a real estate agency, we are locals who are invested in the growth of our communities. We offer our clients a unique perspective of the local real estate market from the ground. And we understand what it means to own a home here, so you can rest assured that we have your best interests in mind.
Regardless of your budget or personal preferences, we can help you find your dream home. Give us a call now.