Do you know what’s hotter than Orlando’s weather?
(We’ll give you a hint: It has something to do with buying and selling.)
Yep, perhaps the only thing hotter than Orlando’s summer temps is its real estate market. If you’re looking to buy a house in O-Town, here are some helpful tips.
Is Orlando a Good Place to Live?
Orlando is a major city located in central Florida’s Orange County. Best known for being home to dozens of theme parks (including Walt Disney World, Universal Orlando, and countless others), Orlando also offers premier golf courses, bustling nightlife, and top-rated universities.
Is Orlando a good place to live, though? The vast majority of its residents think so. Let’s look at some stats that should give you a better idea whether or not Orlando could be right for you.
Orlando’s population comes in at roughly 284 thousand. Actually, that was as of the 2020 census — it may be even higher now, as the city’s population tends to grow from 0.5-1% per year. The city’s median age is 35, and its median household income is $58K/year. 89% of the city’s residents are U.S. citizens.
As we mentioned above, Orlando is also home to numerous universities. Among the larger ones are Valencia College, Orange Technical College, and Advent Health University. What about real estate, you may ask? More on that next.
Is Orlando Real Estate a Good Investment?
Just three years ago, the median property value in Orlando was $260,800. Today that figure has risen to $367,300 — a 22% increase year-over-year. The median list price per square foot is now $225. Most real estate experts and insiders expect Orlando home prices to continue rising higher, fueled by a strong job market and continued influx of new residents.
If you’re wondering how to navigate such a fast-moving market, you’re in the right place. Below are two strategies from Orlando’s best real estate agents. If followed closely, these helpful tips should help you lock in the home you’re looking for.
Tip #1: Do your research first, then act with confidence. Seriously… do plenty of research before making any offers on any homes. Some new Floridians get so caught up in their home search that they treat the buying process as a sort of auction. Even if these buyers do end up getting the home they wanted, they usually end up regretful. We’d encourage you to do enough research to avoid any surprises later.
Tip #2: Lock in your dream home with a higher down payment. If you can afford to do so, making a larger down payment is a great way to get the attention of sellers and earn the trust of banks. Buyers with especially deep pockets have had even more success paying cash for their new homes.
Icon’s Real Estate Agents Make Finding Orlando Property Simple
Are you feeling ready to make an entrance into Orlando’s real estate scene? If so, allow us to assist. Finding the right home doesn’t have to be stressful. Whether you’re looking for the perfect home for your family or the most profitable investment property, Team Icon’s real estate agents can help. Contact us today and start moving towards your goals with confidence.