You’ve heard it before, the real estate market in Central Florida is on fire and if you’re selling your home, you’re bound to make a great return on your investment.
This year was an anomaly as far as how the real estate market typically flows from month to month. The COVID-19 pandemic scared many sellers off the market, leaving buyers with very few options. Where we typically see an increase in listings and sales in the spring, this year, that shifted to mid and late summer as homeowners regained confidence in the market and decided to list their homes for sale.
It’s been a great opportunity for sellers to make a profit on their real estate investments. But what if you’re buying? With prices on the rise how do you best protect yourself from making a poor investment?
When we help our clients buy their next home, we first look at what they need in a home and their preferred areas, then we dive into the appreciation of communities. Some areas have high turnover, some have low appreciation, and some areas have homes worth double what they were five years ago.
While buying a home is about comfort, your lifestyle, and practicality—It is also important to consider your investment.
Here are five communities that have steadily appreciated and have great resale value in Central Florida:
Vista Grande, Clermont
Only 30-minutes to downtown Orlando, Vista Grande is a convenient pick for commuters who want to live outside the busy city. It features spectacular views and is nestled in Clermont’s beautiful rolling hills. Homes sit on quarter-acre lots and start around $240,000. The community began development in 2008 and has continued over the years, so homes are fairly new and not in need of much updating. Resale in this community won’t be a problem due to its desirable location and tranquility.
Black Lake Park, Winter Garden
This neighborhood of large single-family homes in Winter Garden is known for being a great buy. The average price per square foot makes these spacious properties a great buy and a desirable choice for those looking for a little more space to grow into. Just south of the Turnpike and Hwy 50 and north of 429, it is convenient for commuting anywhere in Central Florida. Residents enjoy the privacy and security of living in a gated community.
If you’re a fan of golfing, Legends might be the perfect place to call home. This community is situated around Legends Golf and Country Club with a 24-hour guard at the gate. It has a pool, tennis courts, fitness center, basketball court, and even an on-site restaurant. If you ever don’t feel like cooking, it’s just a quick stroll down the street to great food.
These mid-sized homes are a great investment and appealing to first-time buyers, investors, and right-sizers alike! Prices range between $250,000 and $435,000, however, the average sale is around the $350,000 mark. There are both townhomes and single-family options in the Vineyards community. It is near some great schools and of course, has great resale potential given the location in Windermere. There’s a little something for everyone which makes this community a no-brainer.
Hamilton Gardens, Winter Garden
This desirable neighborhood is walking distance from tons of amenities including Hamlin Town Center. It is still under development so you can either get into a brand new home or find a resale built within the last few years. Prices sit comfortably in the mid-$300,000s however larger floorplans are available for up to $450,000. Hamilton Gardens caters to those looking for a low-maintenance lifestyle who don’t have to go far from home for amenities. The best part about this neighborhood though might be watching the magical Disney fireworks from your backyard, or maybe the dog park.
Buying a home in a seller’s market is scary. There are fewer options to choose from and a good chance the house you have your eyes on will go into multiple offers. That said, it’s still a great time to buy. These communities are only a handful of examples however have steadily appreciated over the last five years and there are no signs of slowing down.
While interest rates on mortgage loans are low, it’s a great time to consider making a move to a new home that better fits your lifestyle, and an investment in your future real estate wealth.