Top Reasons to Move to Orlando
Orlando, Florida is vibrant place to call home!
The City Beautiful has always been a city to be reckoned with. Orlando features vibrant culture and history, trendy nightspots and downtown clubs, cultural centers and exhibits, and enough tourism spots and theme parks to keep anyone busy for a lifetime. Its natural beauty, protected wildlife, hundreds of lakes and acres of farmland and orange groves are a nice complement to the bustling tourist center. Central Florida offers a lifestyle unlike any other city, with a perfect climate, tons of amenities, close proximity to pristine beaches and many economic opportunities for entrepreneurs and those in the health care or hospitality industries.
Lately, central Florida has seen a significant upswing in its housing market, from apartments and condos to single-family homes and even commercial real estate. Just this past year, home sales increased 25 percent, according to the Orlando Regional Realtor Association. Additionally, their website states, the overall median price for all home types increased more than 10 percent. With the increase in the Orlando housing market comes a variety of benefits for choosing to make your home in central Florida. Below is a list of the top four greatest reasons to own a home in the Orlando area.
1. Community connectivity
Central Florida is a vibrant area, rich in culture. It prides itself on community events and involvement. Whether its visiting and exploring the Orlando Science Center, or attending a Broadway play or a summer workshop at the Dr. Phillips Center for the Performing Arts, or even attending the story time at a local museum, community events are never in short supply. Many places, such as outdoor gardens and exhibitions, offer free family days, or deeply discounted tickets, to promote family togetherness and educational opportunities for community members. With the new addition of the Orlando City Soccer Club, the city has rallied together to root for the home team. The new stadium is a beautiful addition to the city and a great destination spot for sports lovers and those who enjoy the thrill of the game.
2. Home value
Homes in Orlando are increasing in value! This means that owning a central Florida home has value, with equity contributing to overall household wealth. It's also a keen way to invest, as there is always a desire for short- and long-term rentals in the middle of the touristy city. A known retirement destination, a Florida home is also desirable to those looking to move south, or to vacation for a few months out of the year during the winter months. The home value is steady enough to warrant purchasing a home and still getting a good value, while also showing a trend of increasing value to suggest resale or renting will be favorable options in the future.
3. Lots of lots
Right now, Orlando is seeing an increase in lot delivered to the Orlando metropolitan statistical area (MSA), as the desire for new homes has increased. Although there is still a positive trend in single-family home resale, the city is also finding itself with a hearty amount of construction starts. According to the Metrostudy Report website, there are nearly 500 new construction starts in Lake Nona alone, with ChampionsGate following at more than 250, and Wyndham Lakes Estates a close third with 215. Seven more neighborhoods in central Florida each came in with more than 100 annual starts, for a total of more than 2,000 new homes started in the top 10 communities. If ever you wanted to design and build your own home, the current Orlando market trends prove that now is the time.
4. Renting is trending, too
Although it was hit hard by the recession, Orlando's apartment, townhome and condo rental markets have seen a steady improvement in occupancy and an increase in rent growth over the past few years. With new theme park attractions coming in, the SunRail providing transportation into Orlando, and the new Florida Hospital breaking ground in central Florida's Winter Garden area, tons of people are relocating to the area for job opportunities and other economic benefits. Therefore, many apartment complexes are finding themselves exceeding national renting norms. With apartment construction tapering off, the currently built complexes are set to see even more success in rental rates this year. Apartment rentals allow tenants to save up for a down payment on a permanent home, or to check out the area to see where they want to plant their roots. It's a smart way to check out the city before making the final purchase commitment for a new home.
If you are interested in making your home in Orlando, it's prudent to make your move to central Florida soon, while interest rates are low and home values are trending upward. The current market trends suggest a great time to make a move, and the location is one of the best places to live in the nation. Discover homes for sale in Orlando, Florida.