America is a land of opportunities. That’s why Americans are known worldwide for moving every 6 to 7 years in chase of various goals. With cities like Jacksonville, Miami, and Tampa, Florida is also famous for constant migrations. There are many reasons why Florida homeowners decide to sell their beloved properties. Here are some of them.
The market in Florida is on fire
You’ve undoubtedly heard of a hot real estate market. But, when we say that the market in Florida is on fire – we mean that. Southwest Florida is one of the most active real estate markets in the United States. Southwest Florida now has 0.3 months of inventory in Collier, Lee, and Charlotte counties as of November 2021, which is 80 percent lower than the amount of inventory that should be available in a balanced market. A strong buyer demand, intense competition from deep-pocketed institutional investors, and the inability of builders to provide new inventory are all contributing factors. If you decide to sell your house, you should lose no sleep over it.
It became intense because of COVID
Many people have been unable to travel abroad or take cruises due to the global pandemic and massive government shutdowns. This has resulted in many people valuing homeownership more highly and looking for that “getaway” here in the United States, with Florida accounting for a large portion of that traffic. The buyers and institutional investors account for 20% of all sales in most markets right now. They recognize the yield return potential given the decline in other investment vehicles such as US Treasuries. Also, the rapid decline in commercial real estate results from the massive shutdowns in the construction industry.
Every buyer wants a ray of Floridian sun
There are many activities available in the magnificent outdoors of Florida:
- golfing
- boating
- fishing
- kayaking
- or any of the other
This is the perfect place for individuals looking to improve the quality of their daily lives. This last year has only accelerated that trend, as Florida has come to be seen as the state with the closest approximation to “normalcy” in these turbulent times. Consequently, the desire for individuals to live in this area is stronger than it has ever been, and we don’t expect it to diminish very soon. People are excited about Florida and often make cash offers, which homeowners can’t refuse. Over the next five years, proximately 850 individuals will relocate to Florida every day. That means that sellers will have the right motivation to enter the market.
They are sick and tired of the crowd
Contrary to excited new buyers coming to taste a bit of Floridian atmosphere – long-term homeowners have had enough. After a long time of dealing with tourists, many people become fed up with that environment and decide to sell. When a person went to Walt Disney World, Miami Beach, and Everglades over one hundred times, a saturation is quite understandable. According to the experts at City Movers, most long-term homeowners that decide to sell particularly look for the countryside to get away from the fuss and the crowd.
Florida homeowners decide to sell for personal reasons
Like everywhere else, personal reasons are on top of the list when deciding to sell. And there are a lot of them.
A new position or a transfer
Work-related relocation necessitates the removal of one’s roots—and this does not always imply a full-fledged relocation to a different town or state. Moreover, many individuals consider a commute longer than one hour (one way) unacceptable, particularly if it involves traveling through congested traffic. So they decide to move closer to work. Whatever your reasons, be sure to hire professional movers early. It could help you save some money. If you can do anything to avoid additional expenses, be sure to do it.
See the family more often—or less frequently
People regularly relocate to be closer to family members, particularly as they become older. On the other hand, some homeowners relocate to put more space between themselves and their relatives. Often, sisters and brothers sell their parents’ homes after their passing because of personal disagreement. Interestingly, dysfunctional or fragmented families get closer after being separated.
The need to take on a new challenge
Some individuals take pleasure in upgrading their homes, putting in the necessary time, money, and effort. However, as soon as the labor is over, they grow restless. It’s hard when they have nothing else to do with their time. They like nothing more than getting rid of their property and moving on to the next fixer-upper.
Different people have different interests and priorities
It is understandable that some people are bored of being homeowners and would rather travel, pursue a hobby, or be less responsible. As a result, homeownership is no longer a top goal for many individuals. Then, selling a property becomes a means of achieving ambitions.
Taking the next step in a relationship Moving in with a partner or getting married almost often entails selling the house owned by one or both persons involved. On the other hand, breakups and divorces are also typical motivations for individuals to sell their homes. One party may want to purchase the other’s interest in the property and does not have the necessary funds on hand. Also, the property may be unaffordable on a single income, or it may be associated with unpleasant memories. These are all prevalent reasons to sell.
The reasons why Florida homeowners decide to sell are manifold
It’s the most fantastic time ever to be a homeowner in Florida. The increased demand, hot market, and making your dreams come true are all the good reasons why Florida homeowners decide to sell. If you’re one of them, we highly recommend you to surf on this tide. Sail into the brighter future with a smile and hope for better tomorrow.