It’s the first time in 35 years that the State of Florida has increased its average number of new residents.
Great exoduses of investors move to Florida from other states, due to the great business opportunities, especially in the area of buying and selling real estate.
Well, this is great news! Not only for real estate experts, but also for those investors, who are new to the subject and who are looking for safe investments to put their money.
But what is the reason?
Actually there are several reasons, and it depends on two main factors.
In the first place, the various complications, especially financial, that living in other states implies, especially states like California, and other northern states like New York, New Jersey, Illinois, Connecticut, and Massachusetts.
And secondly, the different benefits offered by living in the Sunshine State.
But, let’s go by parts…
If we talk about California for example, one of the “Millionaire States”, and therefore, one of the most expensive to live in, there is a determining factor that has made many people think about moving, especially to the tropics, and this, it is the climatic factor.
The wave of fires that have hit California lately has caused many families to lose their homes, and of course, the money invested in them.
On the other hand, if we look at the movement in the northern and northwestern states, we see that they are states with the highest income taxation.
Because of the #Pandemic by #Covid19 or #Coronavirus, those who were thinking of moving and investing in properties had a push that forced them to make the decision.
Not only because in the history of the United States, there has never been such a magnificent phenomenon of a decrease in interest rates on mortgage loans.
Also because Florida residents do not pay state income or inheritance taxes and they get homestead exemptions of up to $50,000 on primary residences, as well as a 3% cap per year on home appraisals.
Jill DiDonna, senior vice president of home sales and marketing for developer group GL, said in an interview with the New York Times, “New Florida residents were able to get more space and better quality homes in their price ranges, compared with the states from which they fled ”.
Now, if to the above we add the fact that Florida is one of the top places to live in America because has the most stable tropical climate in the entire country, that even in winter there is sunlight and the possibility of a beach, that the nightlife and entertainment spaces are unsurpassed, and that the people are tremendously friendly, we believe there is no reason not to consider moving and investing in the amazing new projects that Efficient Developments has for you.
Being one of the environmentally friendly and most innovative construction companies in the real estate market, Efficient Developments is able to advise you to buy and invest your money effectively and efficiently, so that apart from increasing your capital, you can live the luxury of a good life!
Contact us and we will tell you the advantages of living in the “Sunshine State”…
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