The Orlando housing market is very hot right now, with the median home value in the city at more than $240,000. If you’re thinking about selling a home in the region, it’s a seller’s market. The time to act in the Orlando real estate market is now.
If you’re thinking about selling or even buying, here are ten reasons why you should act now.
1. Foreign Investors Are Flocking
Investors from major financial powerhouses around the world are starting to see that Orlando is a great place to invest. Not only does it have beautiful scenery, but the overall livability and value of the region are growing quickly.
The weather in this part of the United States is idyllic for some. The quality of life has also improved vastly in the last few decades, making it a great place to raise a family. It’s a metropolitan region with a mix of cultures from around the world.
For investors who are just trying to put their money into places where it’ll grow, this is the place to do it. Those who come to visit may choose to move to the region because of the number of familiar cultural elements available even while it retains a distinctly American vibe.
Investors will find that the region offers the best of everything they’re looking for. With the increased development that’s happened in recent years, there’s enough balance between supply and demand to allow any investor into the scene.
2. A Population Boom
Across the whole Orlando region, the population is growing. Whether it’s a mix of people who left Puerto Rico for the mainland United States or the rise of retirement among baby boomers, there’s a lot of growth.
Some people head out toward the suburbs, but it’s the city itself that’s seen a lot of growth. The population has been growing steadily with the city adding nearly 60,000 people a year recently.
Few other cities have seen this kind of growth outside of New York, LA, or Chicago. With population growth comes the need for homes. While construction tries to keep up with the demand, homeowners in the region are noticing an increased interest in their properties.
Whether it’s the job market, the number of nearby academic institutions, or families looking for good weather, the growth is happening. The upward mobility of the region is undoubtedly bringing more investment.
3. The Job Market is Hot
Orlando has long been a city full of great jobs. Along with the service and hospitality industries, there’s also a lot of other professional work to be found here.
While there are a lot of reasons for the prodigious growth, job growth is surely one of the top reasons why. One of the fastest-growing regions of the job market is the tech sector.
Some people are calling the Orlando region the next big “Silicon Valley”-style place for businesses to start setting down roots. Orlando is a hub for young professionals who have tech expertise and anyone recently out of school or looking to relocate should be able to find work here.
That job growth and population growth are linked hand in hand in the case of Orlando. That makes it a smart place for a real estate investment. As more people can afford to rent and buy in the region, values are climbing beyond expectations.
4. Renters Are Bringing Great Income
An increasing number of property owners and investors are buying up apartment complexes in Orlando. Others are looking to put up multi-family units to accommodate the new arrivals. While many people moving to Orlando are looking to buy, there are still lots of renters.
As more people try to see what life is like in Orlando, they might want to rent for a while before buying. The number of new residents means that rental income is growing for all stakeholders.
Orlando real estate investors are loving the market right now. Their investments mean that they get a steady income as their investments appreciate. Anyone investing in the Orlando real estate market right now is likely to make serious returns.
5. Solid Infrastructure
Something that urban planners around the city love about Orlando is the fact that it has a strong transport infrastructure. This means that traveling around is wildly convenient.
This is vital for people moving to the region from metro areas who don’t like to drive. IT’s also great for kids and families to get around. However, the demographic that gets the most out of a strong public transportation infrastructure are seniors.
Florida attracts a lot of seniors but one of the worst things that happens to seniors is that they get isolated as they get older. When this happens, they need a way to break out of their routine and get around, regardless of their mobility or age.
This also helps to build tourism in the region. More interest in a city means that values go up. When the region appreciates, the rising tide lifts all boats. This makes selling a home in the area easy.
6. The Economy is Booming
The Orlando real estate is just one part of a larger quilt of the area’s economy. When the real estate market is doing well, there are usually other elements of the economy that are succeeding. Tourism is another one of the big pieces of the economic puzzle in Orlando.
Stability is important to any region’s economy. As we’ve seen with the closing of factories around the country, putting all of your value into one company is dangerous. If that company closes up, the whole economy can tank with it.
Thankfully, the tourism industry is stable and isn’t moving anywhere. While the tech sector grows, the tourism industry is the foundation that undergirds the whole thing.
More rental income, more tourism, and more people moving to the area keeps money flowing in as public works and amenities thrive. Orlando looks healthy, feels healthy, and is growing in a healthy way.
7. Tax Laws Are Flexible
If you’re investing in the Orlando real estate market, you could actually be saving more than putting your money elsewhere. In fact, the state has no personal income tax at all. The tax laws in the region are meant to lighten the load on smaller investors and you could be a part of that.
Within a booming economy, this bodes well for businesses that are succeeding. Businesses love the region because the tax laws are some of the friendliest in the country. It also happens that Orlando has everything that a business owner could need.
While there’s a 5.5% corporate business tax, this shouldn’t deter any entrepreneurs. If you’re not paying any personal taxes you may not have to pay taxes on your property. Do some investigating beforehand and you could be pleasantly surprised.
8. The Theme Park Capital of the World
As far as tourist destinations go, Orlando attracts the most in the country. This helps to create strong economic stability and leaves a lot of room for growth.
Orlando has Univeral Studios, SeaWorld, and Disneyland. This attracts all different types of tourists from around the country. For people who want to spend a weekend walking around a theme park and riding exciting rides, this is the place to be.
If you want a break from the kids and to enjoy a drink on a beautiful beach, this is also a place to be. The warm weather helps to bring people from all around the country to the area.
9. Constantly Added Value
While some markets reach a level of serious saturation with only incremental growth, Orlando adds value in a lot of ways.
With all of the elements listed above, Orlando as a whole is constantly growing. Buying in this region rather than other similar Florida cities is a smart move. While Miami, Ft. Lauderdale, and Tampa are all great cities, the place to make money is in Orlando.
10. Start Your Own Business
For people looking to move into a new city, starting a new business could be nervewracking. In Orlando, there’s no need to worry.
Not only is there ample space being created for small businesses, but also the company-friendly tax code helps. Entrepreneurs and small business owners will find a lot of space to buy or rent. Meeting with investors and VCs is much easier when you boast some of the best weather in the world.
The Orlando Real Estate Market is on Fire
If you’re looking to invest in the Orlando real estate market, now is the time. If you’ve got a property to sell, it might not get any hotter than it is right now.
If you’re looking for a commission-free sale, check out our guide for more.