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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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Real Estate Sector Relief may Include Solutions for Stalled Housing Projects for Stressed Home Buyers

There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought

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Real Estate, Housing, Projects
There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought. LifetimeStock

The real estate sector relief expected this week may include solutions for stalled housing projects for the stressed home buyers where projects could not be completed due to funding issues, official sources said,

There have been demand for as stress fund to deal with stalled projects and bail out lakhs of stuck homebuyers from both home buyers and builders side. There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought.

Another official said stressed fund do exist in many countries but owned by private sector adding there are several ways to provide liquidity in the lendings to the sector which is not necessarily through only a stress fund.

Stress funds are a global phenomenon and are present in nearly every mature market. But many of them are private funds.

Real Estate, Housing, Projects
The real estate sector relief expected this week may include solutions for stalled housing projects for the stressed home buyers where projects could not be completed due to funding issues. LifetimeStock

In August government announced more credit support to housing finance companies where it extended additional liquidity support to HFCs by the National Housing Bank, which has been increased from Rs 20,000 crore to Rs 30,000 crore.

In her meeting with the sector representatives, Finance Minister Nirmala SItharaman had met with the two apex realtors’ industry bodies CREDAI and NAREDCO, and the second with homebuyer associations, to discuss the issues concerning the real estate sector and steps to be taken to strengthen the industry.

The government is also likely to make changes to the definition of affordable housing as sought by developers so that more projects can come under the category. Further, bank loans for developers, which have always been an issue as banks try to avoid lending to developers, may witness some favourable changes. Developers and distressed home buyers had suggested to the government that a fund be set up for completion of stalled projects.

Further, the real estate sector also received a shock after the National Housing Bank recently asked housing finance companies to stop funding under the subvention scheme. The government is likely to ease the recent direction in favour of developers.

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Last month industry body NAREDCO had raised the need for a ‘stress fund’ before Sitharaman. If the government agrees to float such a fund, it could become the last-mile capital for large unfinished projects. Home buyers’ body — Forum For People’s Collective Efforts (FPCE) — also wanted Rs 10,000-crore ‘stress fund’ in budget to complete stalled projects. Their view is it is time now to end this problem by creating a ‘stress fund’ to the tune of at least Rs 10,000 crore to complete stuck real estate projects on pan India basis.

The real estate sector is facing multi-year slowdown in demand due to various reasons including tight liquidity situation, default by many builders and elevated level of prices.

The industry is expecting the government to address their concerns regarding liquidity crunch, demand slowdown and stalled projects. Industry bodies have said that the unrest in the sector is due to the of liquidity crunch and poor sales, and demanded that banks and NBFCs should be encouraged to fund projects. The industry fears bad situation during the coming festive season when generally demand is higher. (IANS)