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Top 3 Cities in Florida to Buy Real Estate in 2019

Looking forward into 2019 and beyond, Florida is a friendly and welcoming place to invest

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If you are like most people, then for summer vacations or to retire has crossed your mind. There is so much to enjoy for the whole family, either indoors or outside, having fun in the sun. Florida is one of those states that has it all because the weather is ideal year-round, the beaches are pristine, and there’s always a new way to take it all in.

When you think about buying in Florida, you probably think of a few places first, like Miami, and you would be right to do that. But, there are several other cities that will give you a high-quality lifestyle, while providing you with a solid financial real estate investment, as well.

Let’s take a detailed look at the top 3 cities in Florida to buy real estate, and why.

Florida
Buying a home in Florida In 2019, Pixabay

Miami, Florida

When you think about Miami, many things come to mind, but if you haven’t visited in person, it’s hard to get the full picture. Miami is a vibrant mix of old-world character and new modern lifestyle, all wrapped up in one. You can find neighborhoods in Miami, such as Belle Meade, that have homes built in the 1930’s that stimulate your senses and imagination. You can literally imagine yourself living in a new beach-side, pioneer town, just discovered by people. But, amidst the old-world feel, are touches of modern amenities, giving you the perfect balance of history, character, and contemporary creature comforts.

Another well-known fact about Miami is that it’s home to the best nightlife in the world, literally epic, and people flock to Miami’s South Beach to be a part of it all. There are famous night clubs like Liv in the Fountain Bleu hotel, where celebrities can be seen any day of the week, partying and having fun. Of course, there are luxurious condos on South Beach in buildings built by world renowned architects and designers. They can be small, yet well-appointed studios, to large, over- the-top penthouse condos.

Miami
Another well-known fact about Miami is that it’s home to the best nightlife in the world, literally epic, and people flock to Miami’s South Beach to be a part of it all. Pixabay

Another way to invest in Miami’s real estate market is buying a luxury mansion on Star Island, Coral Gables, or any number of prestigious addresses in Miami. These properties are ultra-exclusive and can have 10 bedrooms or more. They can be adorned with stylish furnishings, and have amenities like saltwater swimming pools, arcades, Italian marble, and more.

Before you run out and see the homes for sale in Miami, you might want to contact a respected Realtor, because investing in Miami real estate comes with a hefty price tag. It’s not uncommon to spend a million dollars or more on a property that still may need renovations.

Orlando, Florida

The one place everyone with kids is already familiar with is Orlando, FL. Home to Mickey Mouse and the entire Disney World family, Orlando represents some of the most innocent times and memories we have as children. It also has one of the hottest real estate markets in the nation, with a median home value of $250,000. It is much different than Miami, since most of the homes in Orlando are newer and full of cutting-edge technologies and building materials.

Orlando real estate investing makes sense, and with so many attractions (Universal Studios, Epcot, Sea World) bringing millions of tourists per year, it will stay that way. Orlando’s home values have increased steadily through the years and investors can expect to see that trend continue in the future.

Treasure Coast of Florida

If you enjoy a more laid-back lifestyle, and you appreciate the outdoors, beaches, and waterfront activities, then the Treasure Coast may be the place for you to invest in 2019. It is comprised of several small cities, such as Port St Lucie, Stuart, Palm City and Hutchinson Island. The reason that it makes sense to invest here is because there’s any and every type of real estate available at affordable prices. But, just because it’s more budget friendly, doesn’t mean there aren’t new and breathtaking waterfront mansions that can cost millions.

But, for the most part, you can buy a property for considerably less, depending on what type of real estate you want. The Treasure Coast is truly special, and one of the untouched coastal gems in Florida. The waterways are pristine and wind through all the cities, respectively. People love all the golfing communities, which are built around championship courses and amazing golfing centers.

According to top Treasure Coast Realtors, there are numerous single-family homes for sale in Port St Lucie situated on oversized, waterfront lots. Owners have deep-water ocean access, plus room for large yachts and other water toys.  

For those looking to retire beach-side, there are oceanfront condos available on Hutchinson Island in full-service buildings. Who wouldn’t want to wake up to a salty breeze from the Atlantic Ocean from your bedroom window? These buildings offer full fitness centers, concierge services and endless outdoor activities at your doorsteps.

Also Read: How Real Estate Regulatory Bill can help ailing Real Estate sector

Conclusion

Looking forward into 2019 and beyond, Florida is a friendly and welcoming place to invest your money that will not only pay dividends, but give you the quality lifestyle you want to enjoy. No matter if you want to live on the beach, near Florida attractions, or near the electric nightlife in Miami, Florida delivers. Just remember that hiring a local Realtor will save you both time and money, because they know the areas better than anyone else. Make sure you research the agents before you hire them to ensure they are the authority in the cities you want to live and invest your money.

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Premium Real Estate No longer Ruled By Location

Location no longer a key factor in choosing real estate

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Real estate in the face of pandemic doesn't get ruled by location. Pixabay

BY ADITI ROY

The perception of ‘premium’ means in real estate has moved from snob value to define family wellness and health.

As one deals with the global COVID-19 pandemic, developers and buyers are focusing on features in residences which enhance hygiene, wellness and sustainable living which need to be inherent in the design and makeup of housing projects.

“Wellness amenities such as yoga studios, meditation rooms, spas, gymnasiums, tennis courts and jogging tracks became the new rage among urban homebuyers. Such features eventually transcended luxury home projects and came to be expected in mid-range homes, as well. Wellness amenities now deliver a far more convincing ‘premium’ punch than architectural eye-candy. Branded developers were quick to sense the shift and began integrating such features into their projects,”says Prashant Thakur, Director & Head – Research, ANAROCK Property Consultants.

“The world we live in has suddenly been sharply redefined. In times of unprecedented job insecurity, rent is a burdening expense, property ownership is a vastly more attractive investment rationale than reposing faith in volatile financial markets, and the home is a focal point of an entirely new work ethos,” Thakur adds.

“Premium” beyond branding

The current lot of homebuyers are willing to pay extra for premium products and features. For most Indians’ homes are the single-largest lifetime investment they make so it makes sense to secure the best options available within one’s means. While branded builders deliver premium via superior properties and locations, the concept of premium in the backdrop of the severest healthcare crisis is wellness, says a survey by ANAROCK.

Real estate
Real estate doesn’t revolve around location anymore. Pixabay

Wellness as a Project Design Imperative

Real estate that encompasses wellness elements in a building’s design, materials and amenities is a major global trend. Wellness features in a residential (and also commercial) building enhance its desirability as it improves the overall environment and well-being. Among the most popular wellness amenities are gyms, yoga/meditation rooms, roof gardens and enhanced natural lighting and ventilation. As we edge more into the luxury domain, buyers also seek projects with art studios, hobby rooms and Zen gardens where they can unplug and rejuvenate.

The practice to get buildings certified for wellness is being followed by several international developers. This trend, which is being seen in residential, commercial and even avant-garde retail spaces, involves the building receiving a wellness certification based on its design and operational strategies. Similar to the LEED certification program by the U. S. Green Buildings Council, where a building’s ‘green’ features are evaluated and rated, wellness ratings assess the wellness features of a real estate development – how much they contribute to the health and wellbeing of occupiers.

Green Commercial Real Estate

While the residential real estate is gradually catching up to it, this trend is currently more visible in contemporary commercial spaces. Globally, owner-occupied commercial establishments are driving demand for green features and practices. Some of these features include active stairways, biophilia, enhanced air quality, natural sunlight, vertical gardens etc. Such amenities are seen as a way to attract and retain young employees who are highly focused on working in healthier environments.

Even Indian developers are savvy to the trend of tenants placing a high premium on wellness. An increasing number of Indian employees now look for workplaces which help them retain a certain level of fitness and wellness. India Inc is already replete with Grade A office spaces that feature gymnasiums, breakout areas, jogging strips and meditation corners. Coworking spaces, which millennial workers and start-ups favour, have been among the earlier adopters of this trend.

Real estate
Real estate customers and developers focused more on sustainable living. Pixabay

The ‘Premium’ Is High

There is a significant cost attached to incorporating wellness amenities into a building’s architecture, so properties in such buildings cost more than those without any features. The upkeep of such features also adds to the overall maintenance expenditure of the building. However, these features translate into benefits such as improved employee efficiency, performance and retention in office buildings, and a higher happiness and satisfaction quotient in housing projects.

Given that such amenities are in increasing demand, developers now look at including such features in their buildings’ design, over and above providing innovative health-centric amenities. Buildings in India which have wellness baked into their DNA are still a relative rarity, but even a lower saturation of wellness features can be a USP. Definitely, interest in such features in housing projects has never been higher than in COVID-19 era, which has brought the need for complete self-sufficiency in residential real estate front and centre.

Unfortunately, because of the high costs involved, we are unlikely to see this trend percolating down into affordable housing very soon. Such amenities come for a premium, and developers need to keep affordable housing… well, affordable. Nevertheless, some of the latest affordable projects being developed in the less expensive peripheral areas of our major cities do have a degree of basic wellness features.

Also Read: COVID-19 Poses Serious Complications, Even Death Risk for Children: Research

These projects are preferred because many buyers are willing to compromise on the conveniences of central locations – but not on the health of their families. Homebuyers with such an orientation can look for internationally recognised wellness ratings such as WELL Building Standard and Fitwel rating, which measure and certify wellness features positively impacting human health and wellbeing. (IANS)

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Property Investment Tips in Hyderabad and How Should you Choose your Ideal Property

Many people look for a house for sale in Secunderabad,Narsingi, Kukatpally, Kondapur and other pockets

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Property sale
Real estate in Hyderabad has remained a hot spot for property investors at all times, irrespective of the downtrends in the rest of the country. Pixabay

The real estate market in most parts of the country has remained sluggish over the past few years owing to demonetization and other reforms by the Government. But real estate in Hyderabad has remained a hot spot for property investors at all times, irrespective of the downtrends in the rest of the country. The positive outlook of the Government of Telangana in terms of elevated IT corridors, aggressive infrastructure development, strategic road networks, metro rail, etc., has helped the city to keep up with its sustained growth rate.

The Pearl City of India ranks high at the livability chart with its world-class amenities and ample employment opportunities. Hyderabad is also one of the fastest IT and the ITES hubs in the country that houses the top fortune 500 companies. This has, in turn, fueled the real estate growth in and around the city. The city is one of the hottest spots for real estate investment in the country and faces high demands among home buyers and investors to buy a property in Hyderabad.

Property investment
Buying an investment property is one of our country’s most favorite ways to invest. Pixabay

Current property trends in Hyderabad:

Many people look for a house for sale in Secunderabad,Narsingi, Kukatpally, Kondapur and other pockets that attract the maximum buyer inquiries during the recent few years. These suburbs in Hyderabad are the hot housing spots with more than 56.5% inquiries made regarding the availability of houses.  It has also been found that the 3BHK apartments are in high demand in Hyderabad compared with 2 BHK and 4BHK categories. Also, there is an excellent demand for upper mid-level projects in the city. Properties that are in the price range of Rs. 71-80 lakhs are browsed up to 20 times higher than projects that are in the price value of 30-40 lakhs.    

The best destinations for property investments in Hyderabad:

Buying an investment property is one of our country’s most favorite ways to invest. An investment property not only increased one’s wealth but also helps in securing one’s financial future. Some of the top destinations to look for properties in Hyderabad are as follows,

1. Secunderabad:

Secunderabad is one of the hottest destinations in Hyderabad that is filled with luxurious villas, houses, and apartments. It is the prime location in the city and houses a major railwayjunction and bus stand. Thousands of commuters travel across Secunderabad to reach their place of work and study. Buying a property here is not easy and could be highly expensive. People look for a house for sale in Secunderabad as their long term investment or to enjoy a high return on investment through rents. Investors show tremendous interest in booking commercial properties in Secunderabad more than residential plots.

2. Rajendra Nagar:

This is at a prime locality in Hyderabad and features a significant uptrend in the demand for residential spaces in the past few years. This place has many advantages such as, advancements in transportation, connectivity, superior infrastructure and security facilities which attract investors to invest in its diverse properties. It is very close to the Secunderabad railway station and the Rajiv Gandhi International Airport. Rajendra Nagar is connected with some of the business districts in Hyderabad such as Banjara Hills, Begumpet, Hitech city, etc

3. Nacharam:

Investors looking for villas in Hyderabad choose Nacharam as their destination. This is considered a high investment zone in the city and is known for its excellent infrastructure, reputed schools and hospitals and other amenities such as shopping malls, hotels, banks, etc. This place is urbanizing at a rapid pace and properties here are priced lower as it is about 60 km from Hyderabad. But this is the hot investment destination for real estate investors owing to a range of low- priced investment options

4. Kompally:

This place is also referred to as the real estate gem of Hyderabad. Though it is on the outskirts of the city, it is transforming from a suburban district to a thriving destination at a fast rate. It is the new educational, industrial and residential center in the city and is known pretty well among the NRI investors of the country. Though this place lies in the affordable investment segment at present, it has excellent potential for world-class housing. Its social and connectivity infrastructure is also developing at a fast rate.

5. Shankarpalli:

This place, also known as the green belt of the city is the best destination to book villas in Hyderabad. IT is just 11 km from the HITEC city and is the land for world-class educational institutions, health care centers, recreational zones, and resorts. As this place is close to Cyderabad and is easily accessible to other districts of Hyderabad, many NRIs consider this is a risk-free venue for residential investments.

Property Sale
Hyderabad is one of the hottest spots for real estate investment in the country and faces high demands among home buyers and investors to buy a property in the city. (Representational Image)

Some investment tips for prospective investors:

Investing in residential or commercial property has grown to be India’s preferred and favorite ways to invest. A property should always focus on increasing one’s wealth and in securing one’s financial future. But this is possible only when one manages their investment effectively by the following ways and channelize the same in the right way to achieve their financial goals.

  • It is important to choose the right property at the right price
  • It is important to keep a watch on one’s cash flow
  • It is mandatory to choose a property from an efficient property manager
  • Investors should understand the market thoroughly and buy houses, apartments or villas in Hyderabad from trusted parties
  • It is good to check the age and the condition of the property thoroughly before making an investment.
  • Before investing in a property it is mandatory to foresee its long term view and manage the risks accordingly.

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Final words:

There are abundant and ample residential units available in Hyderabad and Secunderabad to meet the housing needs of its existent and immigrant population. But finding the right property at the right place is the challenge in choosing the ideal investment. This is where housing.com helps investors in choosing the best property at different locations of Hyderabad. It is possible to pick Hyderabad properties at housing.com according to one’s budget and investment portfolio.

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Usage of Unaccounted Cash Still Prevalent in Market: Report

Large cash transactions still present in resale realty market

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Unaccounted cash
Significant usage of unaccounted cash is still prevalent in the secondarly real estate market. Pixabay

It has been three years since demonetisation which was implemented with the aim to curb and eradicate black money. But according to a report released on Wednesday, significant usage of unaccounted cash is still prevalent in the secondarily real estate market.

The report prepared by Anarock Property Consultants said that up to 30 per cent of the total transaction value in the secondary or resale residential maket in India can still be paid in cash.

However, the primary sales market in tier-I cities offer the least scope for unaccounted wealth in property deals, it said.

“Demonetization in November 2016 sent Indian residential real estate — till then a preferred laundromat for unaccounted wealth — into an almost terminal tailspin. Even three years after DeMo, the battle is only half-won,” said Anuj Puri, Chairman Aof Anarock Property Consultants.

“The secondary or resale residential real estate market still accommodates black money; at least 30 per cent of the total cost of resale property can still be paid in cash. While more and more buyers and sellers prefer official payment routes as a matter of principle, many still use the resale property market to launder untaxed cash,” he added.

Cash in market
Many buyers use the resale property market to launder untaxed cash. Pixabay

As per the report, while the trend in the Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR), which are historically notorious for black money in real estate, has tamed considerably in primary sales, their resale property markets still see cash components.

As much as 20-25 per cent of the total resale property cost can still be “adjusted” with black money, it said, adding that in Bengaluru, Pune and Hyderabad, the prevalence of transparent payment routes, even on the resale market, is much higher.

“Unlike the primary sales market, the resale market still lacks strict regulations, making it easier for buyers and sellers to use cash components.

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Also, the primary sales market involves developers with a reputation to protect, while a resale property transaction involves two individuals. The pricing of resale properties also lacks transparency,” the report said.

In the case of direct sales by developers, there are readily-available pricing benchmarks, while in the secondary market, a seller can inflate the price of a property based on location, added features and so on without stating on the books. (IANS)