The Florida real estate market has steadily been improving since the global financial crisis. The summer housing market is heating up quickly, and this means that demand is rising, and prices are following suit.
With increased occupancy (home sales rose 4.1% in April 2018 vs April 2017), the forecast for 2019 is looking even rosier. However, the cost of real estate, homeowners’ association fees, utilities, gas prices and the like place a significant burden on homeowners. For this and many other reasons, it is increasingly important to take care of your home – “your castle” – and all its contents.
Florida’s humidity may be great for summer fun, but it plays havoc on the durability and longevity of your home systems and appliances. Rather than replacing thousands of dollars’ worth of systems and appliances, many homeowners in Florida are now opting to take out home warranty coverage to safeguard their wares like refrigerators, AC units which continually run in the state, dishwashers, washers, dryers and the like. Fortunately, Floridians are not short of a long list of relevant FL service providers for home warranty coverage.
Many companies are now operating in the state, including American Home Shield, Select Home Warranty, and Home Security of America. Whether it’s single-family homes, condominiums, mobile homes or townhomes, home warranty coverage simply makes sense.
The rising costs of repairing home systems and appliances is a real bugbear that homeowners face in Florida. Rather than forking out funds for repair and replacement of these appliances and home systems, many homeowners prefer to pay a fixed premium every month or year and have guaranteed coverage.
Reasons Why People Move to Florida
The Sunshine State is bordered by the Atlantic Ocean and the Gulf of Mexico, and it spans hundreds of miles of beautiful beaches. With a population of 21 million people, Florida is one of the biggest states in the US, and for good reason. The average annual temperature is 67.6°F, with an annual low of 55.7°F and an annual high of 79.5°F.
For this reason, Florida remains a prized destination for the snowbirds, and ultimately for those folks who wish to retire from Midwestern, and northeastern states. Barring the annual hurricane season and related storms, Florida is a magnet for tourists, entertainment, and high-quality living. Palm Beach County is one such locale that routinely attracts the world’s richest people, many of whom decide to make Florida their home.
If you can stomach the humidity, and many folks can, Florida is the place to be. The statistics indicate that more people move to Florida than people moving out of Florida. International and domestic migration patterns clearly indicate that the Florida real estate market is booming from South Beach all the way up the coast through Fort Lauderdale, West Palm Beach, Jupiter, Port St. Lucie, Fort Pierce and beyond. An increasing number of people are populating parts of Florida with low density like the Florida Panhandle.
People Buying on the Dip in Florida
The attractiveness of the fun & sun in Florida is hard to resist, despite the negatives that people reference. The recession was biting in Florida, and home values plummeted. However, this also presented many opportunities to people looking for cheap Florida real estate for retirement purposes. Florida did what Florida does best – it bounced back in spectacular fashion.
Thanks to the presence of a booming real estate market and many top home warranty companies like Total Home Protect to offer additional protection, Floridians are much happier and more stable in the current market.
The sheer amount of money that changes hands in Florida is a virtual guarantee of the state’s resilience in the face of adversity. It has the most sophisticated power grid in the nation, and its hurricane preparedness efforts are second to none. That Orlando remains the #1 tourist destination in the world also helps to keep Florida’s economy performing well.
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