If you’re considering getting a second home, now is a popular time for real estate investment, and investors have a plethora of options. If you ask us, Florida is the best state to purchase a vacation home—we’ll explain why here!
Gorgeous Year-Round Weather
There are many practical benefits of investing in Florida property, but there’s no doubt that one of the main attractions of the Sunshine State is, well, the sunshine! Florida earns its nickname by being one of the warmest and sunniest states in the country, from the Panhandle to the Keys. The year-round pleasant weather means plenty of tourists and vacationers all year, which is ideal if you’re looking to rent out your vacation home. Plus, the consistent weather means that whether it’s February or August, you can always get away to a warmer climate!
Tourists don’t just come to Florida for the nice weather—they also want to see some of the best attractions in the country. Whether you’re looking for a family-friendly vacation or a thrilling adventure, you’ll find it in Florida. Some of the most popular tourist attractions in Florida include:
- Disney World (Orlando)
- Kennedy Space Center (Merritt Island)
- Everglades National Park (Miami)
- Daytona International Speedway (Daytona Beach)
- Busch Gardens (Tampa)
There are plenty of attractions for you to check out—but also plenty to draw vacationers to your second home if you rent it out to guests.
Strong Real Estate Trends
There are plenty of fun and exciting reasons why Florida is the best state to purchase a vacation home in, but there are also practical ones. For one, the real estate market in Florida in 2022—and in fact for the past decade—has been strong, and experts predict that the trends will stay strong in the future. Florida has one of the country’s fastest-growing populations—more people moving in means more demand for housing. A growing population coupled with a stable, booming job market means that Florida is ideal for real estate investment.
It’s no secret that Florida is also one of the most tax-friendly states in the US for businesses and homeowners. First, there’s no state income tax, so if you ever decide to move to Florida permanently, you won’t have to deal with a heavy tax burden. Also, in Florida, businesses owned by a single person (sole proprietorships) are not taxed under business or corporate laws, which means—if you open a new business or rent out your vacation home—you won’t face a heavy tax burden in that regard, either.
As you can see, there’s no shortage of benefits to investing in real estate in Florida. Whether you want to add an asset, create supplemental income, or enjoy a place to kick back and relax, a vacation home in Florida is an excellent choice.