In Southwest Florida, in the middle of Collier County, is the exceptional city of Naples.
4 min read
For Canadians, Europeans and investors from nearly anywhere in the world, the appeal of Florida real estate is obvious.
The weather is incredible, two long coastlines offer seemingly endless access to the Gulf of Mexico and the Atlantic Ocean, and property prices are much lower than many comparable beach destinations elsewhere in Europe or North America.
If you’re from Canada or Europe and you’re ready to start looking at Florida real estate, here are eight key things to keep in mind before purchasing your dream home.
1. Foreigners Can Spend Up to Six Months a Year in Florida
Some Canadian and European buyers are eager to buy property in Florida so that they can spend as much time as possible there.
However, other potential buyers are concerned about the visa and residency issues that might crop up as a result.
Thankfully, that does not have to be a big concern for investors. Most nationals from European countries as well as Canada won’t need a visa in order to visit Florida.
If a visa is required, it can easily be obtained online rather than at an embassy.
Once you arrive, you’ll have up to a consecutive 180 days to spend enjoying your home.
As long as you spend less than six months a year in Florida, you won’t have to secure an additional visa, break any immigration laws or be forced to file taxes as a resident.
All in all, this is the perfect arrangement for those who want to spend their winters or summers relaxing in Florida’s sunshine but who won’t want to relocate on a permanent basis.
2. Property Taxes Vary by County
Depending on where your home base is, you may not be familiar with flexible property taxes. In the state of Florida, however, these taxes vary from county to county.
Each year, homeowners are required to pay a percentage of their home’s value as a tax to their local county.
Before buying a home in any part of Florida, do some research and determine what the rates are in your preferred area.
Generally speaking, the highest property tax rates are closer to Miami, but these rates can change from year to year.
3. Getting to Florida is a Breeze From Anywhere on the Planet
For those who live thousands of miles from Florida, getting there once or twice a year can feel like a daunting task.
However, it is far easier than you might expect.
Since Florida is such a popular tourism destination, there are a number of major international airports that offer flights throughout Europe and Canada.
Thanks to the sheer number of flights, travelers are often surprised to realize that airfare is actually cheaper than anticipated.
If you are interested in buying property in the Naples region, then the international airports that will most suit your needs will likely be the Southwest Florida International Airport in Fort Myers or the Fort Lauderdale-Hollywood International Airport.
Several upscale and budget airline carriers operate out of the both airports, and there are also smaller executive and municipal airports nearby for private or chartered flights.
4. Your Florida Home Can Generate You Income
One concern that many foreign investors have about buying real estate in Florida is about whether it is legal to generate income from the property.
The good news in this regard is that yes, you can absolutely use your Southwest Florida property to generate income.
Whether you have incorporated into a business and treat the property as an asset or you bought a Florida home as an individual, you can choose to rent out the space.
If you plan to use the home exclusively for income, then you can lease it for longer periods of time.
Alternatively, if you plan to stay in the Southwest Florida property for parts of the year, you can lease it short-term as a vacation rental when it won’t be used by you, your friends or your family.
This lets you have the best of both worlds: you can stay in a comfortable vacation home when you visit plus you get the bonus of income on a regular basis.
5. International Buyers are Welcomed Throughout Florida
Some Canadian and European buyers are worried that they won’t be readily accepted or welcomed in their property search.
Thankfully, that couldn’t be further from the truth. In fact, as of 2014, roughly 25 percent of foreign buyers who purchased property in the United States ultimately found their piece of real estate in Florida.
Florida is a diverse state with a range of cultures, so people from all walks of life are welcomed.
From a home-search perspective, real estate agents also welcome foreign buyers with open arms and want to help them find the perfect property in Southwest Florida.
6. Florida is a Timeless Property Market
A big part of Florida’s international appeal has to do with the weather, but that isn’t all that keeps travelers coming back year after year.
The beaches, both on the Gulf and Atlantic coasts, are stunning and well-maintained.
Amenities like hospitals, outdoor recreation centers, swimming pools and shopping malls are also available in great numbers to provide visitors and residents with everything they could want.
Most importantly, Florida is iconic and associated with sunshine, fresh oranges and the family fun of Disney World.
This timeless appeal means the property market will also remain steady since there will always be people ready to live in and visit the Sunshine State.
7. The State Boasts a Variety of Property Types For Sale
If you’re from Canada or Europe, you might not know just how diverse the property market in Florida can be.
You can buy a large single family home right on the beach, or you can buy a chic downtown condo within walking distance of nightlife and restaurants.
There are townhomes, golf course homes, apartments and everything in between, and these properties come in a variety of price points to fit any potential buyer’s budget.
Have a look around; you might be surprised at just how unique Florida’s property market really is.
8. The Weather Really is as Amazing as You’ve Heard
Florida certainly has a reputation as the Sunshine State, but some international buyers and visitors are still skeptical.
The reality is just as you hoped: Florida, and Southwest Florida in particular, boasts spectacular weather throughout the year.
For those lucky enough to live in Naples, there is nothing unusual about the idea of spending Christmas Day on the beach or playing a round of golf in February.
Whether you are from Canada, Europe or anywhere else in the world, Florida can be the ideal place for you to find a vacation home, a full-time residence or an investment to generate income.
Contact Melinda today to learn more!
