Florida Real Estate for Canadians – A Perfect Investment
It was reported, based on official records that Canadians accounted for over 33 percent of all foreign investments in real estate in Florida. The total amount of investment represented a substantial sum and was determined to be a lot higher than their investments in Canada.
To a lot of financial experts, this move by Canadians was a wise decision and can be very advantageous to them. It can be said that, if so many Canadians are investing in Florida real estate, it must be a profitable venture. Let us know the reason why.
Offered at Very Attractive Prices
When considered, whether it is a good investment, it can be said that buying real estate in Florida would be a perfect investment. For the properties in Florida are bought at very attractive prices. Reports states that, most of these properties were bought by Canadians at almost half the prices. Average purchase price in 2014 was at around $200,000.00 for a property with a value of $ 400,000.00. From these figures alone, it is would certainly appear as bought at a bargain.
Florida Real Estate Market Expected to Recover
Canadians were able to get these properties at a very low price mainly because of the slump in the United States, real estate market. This was experienced throughout the United States so Florida was not exempted. But it must be noted that Florida has traditionally been considered as among the best investment sites in the country. It is not wrong to assume that when the market recovers, Florida would lead the way.
As it is, recovery is on the way. Once everything gets back to track, expect Florida real estate prices to increase impressively. And when this occurs, these properties bought by Canadians would be worth many times than the amount they paid. In the end, with those huge returns, these real estate investments would be worth it.
Florida a Prime Vacation and Retirement Site
Many consider that these Canadians will come out winners whatever happens to the market. They will always have those properties which they can use as vacation homes and even for their retirement. This is readily understandable considering the ideal weather of Florida the whole year round. In fact, 52 percent bought their properties for this reason. And in the meantime, they can reap benefits by renting out these places to vacationers, who seem to be everywhere in Florida.
About the Author:-
This article was written by Mike Smith, the Owner of Qflorida.com. Qflorida.com provides their Canadian customers complete information for buying the property, vacation home in Florida, US. They give free guide to helping Canadians get information on Florida real estate – financing, foreclosures, mortgages, taxes, and other tips.