It’s no secret that now is a good time to buy a home. With affordable mortgage rates and some great properties on the market, the current market is ripe with opportunities. If you’re looking to buy a holiday home, now is the perfect time to do so. But where should you buy a vacation home? One popular option is South Florida. Find out why you should consider buying your holiday property in the thriving area.
Get Tax Breaks
If you’re looking at your purchase from a financial point of view, you might consider the cost of taxes. In South Florida, taxes tend to be much more affordable than some other areas of the country.
If you don’t plan on renting out your home, you could even be eligible for a tax deduction. If you don’t charge rent for more than two weeks each year, you may be able to deduct your mortgage payment from your gross income on your taxes. Before you make any decisions, be sure to speak with your tax advisor or accountant. They will be able to tell you more about the local tax laws.
Make a Valuable Investment
Florida is a popular place for real estate sales, and the trend is only growing. But there’s only so much property available for the large influx of residents. If you buy real estate in Florida, it’s likely that your property will increase in value over the years. When you’re ready to sell your home, you could end up making a significant profit. At the very least, you don’t need to worry about it losing its value.
If you plan on renting out your holiday home, there’s another opportunity for profit. Seasonal rentals in areas like South Florida tend to be highly profitable. Even if you only rent out your holiday home for a few months each year, you could make enough money to make your mortgage payments for the year.
Bring Your Family Together
These days, it’s difficult to bring families together. All too often, everyone is too busy to come together and enjoy a vacation. But property in South Florida appeals to everyone in the family. After all, who doesn’t enjoy a day on the beach or the liveliness of Miami or Fort Lauderdale?
When you have a holiday home in South Florida, you have the perfect place for your family to gather. A holiday together won’t be a chore, but an appreciated tradition.
In the winter, most places in the United States experience cold weather. Although that weather ranges from the 40s to the negative temperatures, most of the country experiences temperatures that require jackets and gloves.
With an average high temperature of 84.2, Miami has a warm climate throughout the year. You might have a few short cold snaps in the winter, but most days warm up to the 70s. South Florida is the ideal place to escape a brutal winter and recharge on the beach.
If you have a holiday home in a place that’s difficult to access, you won’t use it much. The high cost of travel or inconvenience will mean you only travel there once or twice a year.
Because South Florida has several major airports and excellent transportation options, it’s easily accessible. No matter where you live, flying into South Florida is easy and tends to be affordable. If you’re interested in buying a property in the area, contact an experienced real estate firm.