Are you considering moving to Florida in 2024? With the sunny weather, beautiful beaches, and low taxes, Florida is often an appealing destination for many looking to relocate. However, making such a big move requires thoughtful consideration of all the pros and cons. The following article reviews 5 important items that become more and more interesting with hindsight.
This article was derived from my full-length YouTube video. You can view it at the bottom of the page.
#1 - Why Are You Still Waiting?
If you've been thinking about moving to Florida but continue to push back timelines, I would encourage you to maybe take a fresh look at what's holding you back. Several factors that prevented people from purchasing Florida real estate in the last 12-24 months - high prices, bidding wars, spiking interest rates - may not carry quite as much weight anymore in 2024.
While no market is perfect, this could be a interesting opportunity to make a move. Interest rates seem to be leveling out with a bit more predictability, buyer leverage with new home builders is increasing, and negative past experiences/buyer fatigue have created a less competitive market.
Beyond finances, you could also consider that Florida offers an unmatched quality of life - beautiful scenery, pleasant weather, and positive energy - that only gets sweeter the earlier you secure it.
#2 - Is 55+ Overrated?
Many of our clients put the idea of a 55+/active adult living community on a pedestal. However, we have found that folks are not necessarily seeking a non-youth environment, but more of a like minded and resort-style ridden neighborhood.
It's really about control. I would argue that limiting your search this way is borderline unnecessary nowadays.
The advent of master-planned has created the ability to merge your ideal house while also finding your "tribe". Groups of neighborhoods that surround communal amenities. No longer one or the other, sacrifices, etc.
With diverse options everywhere, you needn't lock yourself into 55+ living just to find your people.
#4 - Drive More, But Drive Better
People relocating from dense, urban areas are often surprised they need to drive a little more in the state of Florida. Walkability is not something that's commonplace. However, while the car may play a bigger role in your daily life, the overall driving experience itself tends to feel much more docile. Less traffic, nicer scenery, and infrastructure designed around play first/work second make getting around less stressful.
When considering different neighborhoods, it's important to know that 3-5 miles doesn't matter near as much as it can it many more populous metros. This will allow for some simpler decisions in the juxtaposition for suburbs vs central proximity!
#4 - Are Hurricanes & Alligators Going to Kill Me?
This one's a little bit more on the lighthearted side, but I would say that it's is a very real concern for at least 1/3 of our client inquiries. I don't want to downplay there are risks in these two categories, but I would say that I would be surprised if this is a daily thought of yours...even 30 days removed from a relocation.
There are many many ways to actually mitigate risk across the different segments (no rear lakes, higher elevation plots, inland, self sustaining grids, etc.), but I've also found volatility in almost every single, attractive coastal market in the USA.
It's more of picking the best out of the bunch versus no risk at all.
#5 - Did You Miss the New Home Boat?
The recent frenzy of new home construction in Florida left many priced out of popular areas feeling hopeless to still find affordable options. The thought of buying/timing on the wrong side of the scale is not a fun one.
However, I believe this whole thing is really still at its complete infancy. Massive areas like Lakewood Ranch, Wellen Park, Wesley Chapel, Babcock Ranch, Lake Nona, & Hi-Hat Ranch still have decades left to reach completion goals.
Plus approved projects in SWFL will deliver tens of thousands more homes over the next 20+ years. Tampa Bay, Sarasota, Naples/Fort Myers, and beyond!
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In closing, while relocating across the country is no small feat, Florida remains an alluring destination in 2024. Carefully weigh the concerns discussed here before determining if now's the optimal window for you to gain your own slice of the Sunshine State lifestyle. With an abundance of brand-new neighborhoods rising to welcome new residents, opportunities await.
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