Editor’s note: Haute Lawyer Roxana Tejeda, of Tejeda Law Group, talks about the recent influx of migration to Florida and her advice regarding the subject.
Photo Credit: Courtesy of Tejeda Law Group
With 22 million residents, Florida ranks top three in the most populous states. It’s really no surprise why people move here—a balmy 70 degrees all year, no state income tax, a hotbed of retirement communities, and a sky-high and ever-growing economy. “We bought a house here during the pandemic,” I’ve heard more than once. “There are more outdoor options….” As a real estate attorney, I can attest that’s the truth. In the last month, after the arctic blast hit Texas and most of America, my office phone got flooded. People want to make the move to the Sunshine State! What else, though, besides the tropical weather is causing the migration boom of 2021?
Tourism and transportation:
Both are the bread and butter of Florida. As vaccination rates rise and the pandemic slows, jobs in these fields will open up. The Bureau of Labor & Statistics noted Florida’s job growth rate of 3.0 percent was the biggest surge among 10 states—and climbed higher than California and Texas, and the national average of 2.0 percent (Lowe). Tourists eager to travel are the more obvious cause. Seasonal workers, too, the most likely to rent homes and sign short-team leases, will migrate to fill those positions.
Ready to Buy, Ready to Move!
Millennials are the biggest age group who want to buy, move, and start new in Florida. A lot of them, too, are coming forward with hard-earned, long-saved cash offers. Whatever your age, we all know the lower interest rates are enticing. For a 30-year fixed mortgage, the interest rate is 3.1%, which is lower than the state average. Florida also offers first-time homebuyer programs that help with the down payment and closing costs. A lot of people think moving to a state—long considered luxurious—is impossible and reserved for the rich. That sentiment is no longer part of the imagination.
Whatever your reason for moving, you can guarantee the Sunshine State has its share of reasonable and realistic perks. If you need more to name, reach out and get the right real estate counsel first. Travel safe and buy smart!
All the best,
Roxana
Learn more about Roxana Tejeda by visiting her Haute Lawyer profile: https://hauteliving.com/hautelawyer/member/roxana-tejeda/
