Crazy to buy there now, insurance, taxes, Condo fees, HOA fees through the roof!! FL is no longer the affordable retirement state… SC is looking great!
Absolutely agree the cost of living in Florida has increased dramatically, and you pegged many of the reasons why, but truthfully there are some others that make it expensive too. On top of that Palm Beach County is one of the more costly places to live in the state, but I have to say I absolutely love it here, and I am from the midwest where the cost of living does not get much lower. I think it is super important that anyone considering a home here understands the cost of living to make sure that they will be comfortable while they are enjoying paradise, and not feeling house poor. Thanks for the comment.
I think it's definitely too late to be flipping homes for investment in Palm Beach County. I bought my house in Jupiter in 2011 for $205K in an average neighborhood. It's now worth $650K and there would be no way I could afford it now at the PEAK of the Housing Market here in South Florida.
Thank you so much for the response. It can definitely be much more difficult to find properties that make sense to flip than in the past, but they are definitely still out there. The upfront investment to purchase has increased, and the cost to rehab is up, but you can still find properties that provide enough room to make a profit when a project is completed if you know your numbers.
Crazy to buy there now, insurance, taxes, Condo fees, HOA fees through the roof!! FL is no longer the affordable retirement state… SC is looking great!
Absolutely agree the cost of living in Florida has increased dramatically, and you pegged many of the reasons why, but truthfully there are some others that make it expensive too. On top of that Palm Beach County is one of the more costly places to live in the state, but I have to say I absolutely love it here, and I am from the midwest where the cost of living does not get much lower. I think it is super important that anyone considering a home here understands the cost of living to make sure that they will be comfortable while they are enjoying paradise, and not feeling house poor. Thanks for the comment.
I think it's definitely too late to be flipping homes for investment in Palm Beach County. I bought my house in Jupiter in 2011 for $205K in an average neighborhood. It's now worth $650K and there would be no way I could afford it now at the PEAK of the Housing Market here in South Florida.
Thank you so much for the response. It can definitely be much more difficult to find properties that make sense to flip than in the past, but they are definitely still out there. The upfront investment to purchase has increased, and the cost to rehab is up, but you can still find properties that provide enough room to make a profit when a project is completed if you know your numbers.