Are a real estate investor you looking to invest in the Broward County area?
Broward offers a superb quality of life, strong home prices, and market value with a distinctive natural landscape. The county provides visitors and local residents with a variety of cultural and entertainment options. It also has an outstanding semi-tropical climate.
Investments in Broward have a great chance to generate a passive income that’s profitable to investors. Investors can also take advantage of the eventual rise in investment property appreciation rates – particularly with an in-demand single-family home.
There are many reasons why Broward is such a great place for investment. It has a stable economy, a strong job market, several local attractions, and most of all, a healthy rental market.
In this article, we at TrueNest Property Management will take you through the best reasons to improve your rental portfolio and buy an investment property in the Broward County area.
Why Invest in Broward County, Florida Rental Properties
Great Quality of Life
What makes Broward County FL a great area to invest in, is the quality of life it provides its residents. One of the area’s great features is diverse restaurants with food from all over the world.
Given that Florida is a melting pot of a variety of cultures and backgrounds, it carries a unique vibe and unique culture. People living here have access to a variety of fantastic things to experience, such as museums, grand sports events, a plethora of shopping, and wide entertainment.
An important factor and something most people consider the pulse of Broward County’s local economy is tourism. Beautiful parks, experiences, and thrilling activities await its visitors. There are plenty of first-rate tourist spots in the Broward area. Just consider the following attractions:
- Seminole Hard Rock & Casino
- Museum of Discovery and Science
- Bonnet House Museum & Gardens
- Flamingo Gardens
- East Las Olas Boulevard
- Hugh Taylor Birch State Park
- Fort Lauderdale Beach
- Hollywood Beach
As a property investor, you want to invest in an area with a strong economy and tourism is a great economy to base an investment on compared to any other real estate market. This translates as less marketing effort for short-term rentals you’re going to build in Broward.
The growth of the population results in a stronger job market. As an investor, opting to buy in an area with a high population means having a market that is ready to serve. Considering Broward County’s population growth, rental demand is indeed high and home values continue to grow in the long-term rental market.
The Broward County job market is also growing rapidly in response to this population growth meaning there will be more demand for things like single-family homes.
Broward County FL has amazing weather all year round. It’s warm, comfortable, and sunny for around 250 days per year! Even when winter arrives, the weather is still mild in Florida. In fact, the weather is one of the many reasons a lot of people continually stay in Broward County.
Due to the excellent weather in Florida, plenty of snowbirds from the North also visit Broward County when winter sets in. This provides investors an opportunity to market short-term rentals to snowbirds residing in colder cities.
Hot Real Estate Market
For the past year and a half, Broward County’s real estate market has grown at a record rate. As a property investor, this is important when deciding to pick an investment location. Increasing property values year on year is a priority if you want great deals and quick cash flow.
When growth in housing prices accompanies your investment property market values, you’re more confident that your investment will profit. If a market fails to display a boost in housing market values, your property investment isn’t geared for long-term investment.
The real property tax rate in Florida is 0.98%, a figure that’s a bit lower compared to the average in the U.S., which hits 1.08%. This provides more savings to rental property owners and encourages more property investors to find attractive Broward County investment properties.
When you invest in a property, check if residents and tourists have access to recreational and entertainment activities in the area. If there are many local attractions, then renters are easily available for the entire year. Broward County is not short on attractions and activities that attract both visitors and residents.
Nature is within reach of any rental property in Broward County, from sandy beaches to the popular Everglades National Park. Plus its close proximity to Fort Lauderdale is of great value.
Broward County is the second most populous county in the state and promotes a good quality of life to its residents while providing a top opportunity for real estate investors when compared to the national average.
The food and lifestyle are superb, tourism is booming, population growth is high, the local climate is amazing, the real estate market is hot with a variety of investment properties, and the local attractions are abundant.
For first-time investors, having professional experts guiding you can be valuable. You’ll be able to obtain priceless advice on things like real estate taxes, and correct rental prices, so the investment process can be easier.
Contact TrueNest Property Management if you’re looking to invest in Broward County, Florida.