Karen Montgomery's Blog
For many people, Florida is the ideal place to own a vacation home. With warm weather year-round and endless waterfront areas to choose from, there are a number of ways to score the perfect second home in the Sunshine State.
Furthermore, with the cost of real estate rising, owning a home in Florida could become an excellent investment and asset down the road. So, how do you get started with buying a Florida vacation home? Read on to find out.
1. Tour the state
A good way to get to know the diverse locations in the large state of Florida is to plan a vacation (or two) during which you travel some of the areas you’re considering.
Many people who buy vacation properties in Florida buy in the area that they’ve grown to love. And while that’s an excellent way to ensure you’ll love your home, you might be missing out on areas that you like even more.
3. What are you really looking for in a home?
Having priorities when home shopping is important, even if it’s your second home. If your top priority is to have a solid investment, then you might be okay if the house isn’t near your favorite golf course or restaurant.
However, if your home is all about having a place to relax, you might choose amenities over resale value.
2. Have a plan if you want to rent your home
Many people buy second homes in Florida as a way to earn income while they aren’t using the property. However, renting out a home comes with considerable responsibility. As a property manager, you’ll need to maintain the property and be available when something goes awry. Those expenses can add up easily.
Similarly, some communities have rules around renting out your property, so ensure you’re allowed to rent your property before closing on the house.
3. Don’t rush your purchase
You already have your own home, so you don’t need to worry about having a roof over your head. Wait it out and make sure you find the best home for the best price.
4. Learn the market
Home prices in Florida can vary drastically depending on location. Median prices in Miami Beach are around $500,000, whereas Sarasota prices hover around $270,000 or nearly half the cost.
5. Consider buying with others
If you want to buy a second home in Florida but are turned off by the prices, sharing the property could be a good alternative. However, just like renting an apartment with friends, difficulties can arise.
To avoid conflict or financial headaches, make sure you have an agreed upon plan for situations that might come up, such as:
Determining who gets the house during which weeks out of the year
Deciding how the costs will be split
Decide what will happen if someone wants out of the contract
6. Use an experienced agent
When you’re buying a house in an area you’re not familiar with, and where you can’t be at all times, it pays to have boots on the ground who you can trust. A real estate agent will be able to ensure things go smoothly for you so that your house is ready when you arrive to seal the deal.
If your Florida luxury home has a massive garden, Olympic-size swimming pool or other great features, you should try to show off these features when you sell your residence. That way, you can boost the likelihood of a profitable luxury home selling experience, regardless of whether your residence is located in Orlando, Miami or elsewhere in the Sunshine State.
Ultimately, there are lots of things you can do to highlight the true size of your Florida luxury house to prospective buyers, such as:
1. Eliminate Clutter
Clutter is a problem that Florida luxury home sellers should eliminate as quickly as possible. Because if your luxury house in Jacksonville, Fort Lauderdale or anywhere else in Florida is loaded with excess items, it may be tough for buyers to see your residence's full potential.
If you need to cut down on clutter in your Florida luxury house, there is no need to worry. You can always host a yard sale or sell your excess items online. Or, you can donate items to charity. You can even rent a storage unit to hold various personal belongings until you finalize your Sunshine State luxury home sale.
2. Get Organized
Although your Florida luxury home is large, assorted items may be scattered throughout your residence. Fortunately, if you allocate time to organize your Sunshine State luxury house, you could make your home an attractive option to potential buyers.
For those who want to organize a luxury home in Lake Worth, Clearwater or any other Florida city or town, it generally is a good idea to pick up storage bins and shelving units. With storage options at your disposal, you can enhance the look and feel of your Sunshine State luxury home's interior in no time at all.
3. Clean As Much As Possible
If a Florida luxury home is neat and tidy, it will be easy for you to show off your residence's full size. Perhaps best of all, buyers should have no trouble envisioning what life may be like in a pristine Florida luxury residence – something that may lead to many offers to purchase shortly after you list your house.
If you need help cleaning your Florida luxury house, you can reach out to professional cleaning companies as well. Professional cleaning firms are available in cities and towns across the Sunshine State, and these businesses will do whatever it takes to help you clean each room of your residence.
Lastly, if you are searching for ways to streamline the Florida luxury home selling journey, you may want to hire a real estate agent. This housing market professional can offer expert home selling guidance and will do everything possible to ensure you can achieve your desired results. Thus, if you want to stir up lots of interest in your South Beach luxury home, a real estate agent can help you do just that. On the other hand, if you want to get the best price for your St. Augustine luxury house, a real estate agent will ensure you can maximize your home sale earnings.
Use the aforementioned tips, and you can show off the true size of your Florida luxury residence to potential buyers at any time.
For those who are planning to list a luxury home in Miami, Orlando or any other Florida city or town, it helps to understand how to price a residence. That way, you can establish a competitive initial asking price for your Sunshine State luxury residence and boost the likelihood of a fast, profitable home selling experience.
Now, let's take a look at three tips to help you price your Florida luxury house.
1. Perform a House Inspection
A house inspection generally is requested by a homebuyer after a seller accepts an offer to purchase. Yet conducting a home inspection prior to listing a Florida luxury residence may prove to be beneficial, particularly for a seller who wants to maximize the value of his or her property.
During a home inspection, a property expert will examine all aspects of a Florida luxury residence. The property expert then will provide a homeowner with an inspection report that details his or her findings.
Ultimately, a home inspection enables a seller to identify any underlying problems with his or her Florida luxury residence. A seller next can use this report to prioritize home improvements. And once these improvements are completed, a seller can enhance his or her Sunshine State luxury home's value before adding this residence to the housing market.
2. Review Housing Market Data
The luxury housing market varies across Florida. For example, a luxury home in Jacksonville may be priced less than a comparable luxury residence in South Beach. Or, a luxury residence in Tampa Bay may prove to be more expensive than a similar luxury house in Gainesville.
As a home seller, you should allocate time and resources to learn about the local real estate market. If you analyze a broad collection of housing market data, you can narrow the price range for luxury houses in your city or town and price your residence accordingly.
3. Hire a Real Estate Agent
If you are unsure about how to price your Florida luxury residence, there is no need to stress. In fact, you can hire a real estate agent who possesses Sunshine State luxury housing market expertise to get plenty of help throughout the property selling journey.
A real estate agent understands that no two Florida luxury houses are exactly alike. He or she first will learn about your Sunshine State luxury residence and find out what makes your house unique. Then, a real estate agent will help you establish a competitive initial asking price for your Florida luxury home and start showcasing your residence to prospective buyers.
Of course, a real estate agent will make it simple to streamline the Florida luxury home selling journey too. He or she will host open house events and home showings, negotiate with a buyer's agent on your behalf and much more. And if you have concerns or questions at any point during the home selling journey, a real estate agent will address them immediately.
Take advantage of the aforementioned tips, and you can set a competitive initial asking price for your Florida luxury house.