Why Does Location Matter When Buying a Home in South Florida?
Location always matters in real estate purchases, no matter where you choose to live. That’s especially true in South Florida.
How Does Location Impact Home Values in South Florida?
Each town and city has a range of South Florida home and condo prices. And importantly, many dwellings have a city address but are outside city limits in suburbia. That means the only government oversight is the county, whether it’s Palm Beach County from Boca Raton to Jupiter or Martin County further north. Lang Realty agents know their market and can help buyers determine whether the location is in a municipality or a county suburb. Taxes for services like police, fire, water, sewer and trash pickup in each location vary widely, too.
How Does Neighborhood Location Affect Property Value?
To a great degree. Is the location in a regular older neighborhood with open access? Is it walkable to a school or require a school bus? The prevailing lifestyles in most locations here are in private gated clubhouse developments, condominium buildings or residential country clubs, all with resort-style amenities. Locations with ocean or inlet waterfront views are always the most exclusive. Homes in 55+ age-restricted communities are usually less, and new construction usually more, especially for lots with a lakefront view.
What Factors Affect Home Prices in South Florida?
All of the factors mentioned above can influence home prices, along with the amount of updating a property may require.
Consider the property’s age and square footage, as well as when the roof, air-conditioning system, kitchen, and bathrooms were last updated.
Lang Realty agents can answer these questions and provide additional guidance to help buyers evaluate properties and locations.
Other important factors include:
- Resale Value: Location also determines eventual resale as an investment.
- Future Growth: Potential for growth and urban renewal are important to consider, too.
