February 24, 2024

Buying Ft Lauderdale Real Estate Is Cheaper Than Renting

According to a report by Trulia,  buying South Florida Real Estate is cheaper than renting a home in South Florida. The report was based on a study of median home list prices and median rental prices in Miami.  While home prices are expected to continue decline into 2012, finding the perfect home while inventory is still available, and rates are low appears to be the priority of many buyers of Fort Lauderdale Real Estate.  Buying South Florida Real Estate vs. Renting, simply makes sense with todays discounted prices and interest rates.  For those home buyers who have been on the side lines, there are many good good reasons to buy. For those who insist on waiting for the bottom we can only ask, “can you identify the day that represented the top”. In Fort Lauderdale Real Estate most people think the top was some tiem between 2004 and 2006, the bottom will be as clear someday.

Whether you’re a first time home buyer or experienced investor this is a great opportunity to purchase at some of the lowest prices we have ever seen.  Prices throughout the Fort Lauderdale Real Estate market and throughout the South Florida area have reached levels not seen since 2004, and with todays interest rates this makes a great time to start hunting. Interested in starting a Fort Lauderdale Real Estate search we have provided you with a link to the entire Fort Lauderdale MLS.

There are many factors that will effect what appears as median or average pricing over the next year in Fort Lauderdale Real Estate. Shorts sales, and Foreclosure’s will remain a large piece of the inventory, and a large part of the sold inventory. With this happening it will make the average and median price of a home in the Fort Lauderdale real estate market appear lower than it really is.  Foreign investment in the US Real Estate market will continue especially with Canadian buyers in the South Florida market and once the distressed properties are absorbed we will see average prices start to drift higher.

Buying Fort Lauderdale homes and condos, at a time when the rental market is gaining strength due to lack of new inventory, can be a great way to build a real estate portfolio over time.   Buying real estate close to the lows of the market is the way to build for a  long term profit.  You may get a check when you sell but in actuality the money is made the day you purchase. The investment advantages of owning real estate include the possiblity of  tax writes off when it comes to mortgage interest, real estate taxes and the cost of cost of operation. As always we suggest you discuss rental property with your accountant and real estate attorney so you know the most advantageous method of holding and purchasing your Ft Lauderale Real Estate.

Eric Miller and Associates are here to help you make the most of this unique time in the Fort Lauderdale Real Estate market.  While buying the American dream can be a great experience, working with a team of professionals can certainly increase the odds of a successful transaction.  When looking at Fort Lauderdale Homes for sale, or starting your search for  Fort Lauderdale Condominiums for sale, or when its time to find that perfect dream Ft Lauderdale Waterfront  Home remember to contact the team at Eric Miller and Associates, Keller Williams Realty Fort Lauderdale, for all your needs in Fort Lauderdale Real Estate.