Relocating to Florida

Florida is known for quite a few things but the weather is probably the number one on the list. You can also find luxurious beaches, beautiful condos and a nightlife scene that never seems to end.  These are just a few of the reasons, thousands of people think about moving to Florida on a daily basis. If you happen to fall into that category, we at North Star Mortgage are here to help you decide if that’s the right move for you.

When most people think of buying property in Florida, they want to live on the water or close to the beach. Although these properties are highly desirable, especially as investment properties, there are laws that come along with buying these oceanfront properties that you’ll need to consider. These rules can range from interfering with natural vegetation in the area or even disturbing the natural wildlife.

Homeowner’s Association

There are lots of condominiums in the Florida area for purchase, and with those condos, typically comes an HOA. You’ll want to do your research on the community and its restrictions. There can be regulations on pets, landscaping and whether or not you can rent the property out for profit. Many associations come with dues that are required to be paid to keep up with the property, so this is also important to consider when deciding to purchase in Florida.

Consider the Taxes

Florida does not have state income tax, so the cost of living there is pretty low compared to other places you might be considering. But if you are relocating from a state that has a higher median wage, you’ll want to be sure the move is something you can maintain long term if your income decreases.

If you are not a permanent resident or are purchasing in the area for the first time, your property taxes may be higher than the current owner so be sure to get your own estimate from a lender in the area based on your personal situation.

Find The Right Agent For You

The first thing to consider is if you want to work with a buyer’s representative or deal with the listing agent directly. You’ll want to make sure you to discuss the terms of the contract if you decide to work with an agent so that you don’t end up paying more than what you think is fair for the work done. Although agents can help to broker the transaction, they can not give advice on the title, so be sure to contact an attorney for any questions related to the title.

Florida does have a lot of colleges, and that does bring out a big party scene, but that doesn’t mean it’s a party everywhere. If you are moving to Florida, you’ll want to research the area you’ll want to move to based on your needs. If you have a family that needs to be near a good school district, make sure you are researching the districts or colleges in the area to target your search as much as possible.

Contact Us Today!

Whatever your reason for purchasing in Florida, you’ll want to discuss your needs with a local representative so they can give you the insight you’ll need to decide if this is going to be the best move for you. We at North Star Mortgage in Jacksonville. would love to be that option for you. Reach out today!