The Value is in the Land
When purchasing real estate, a simple rule has always applied: location, location, location. Now, let’s put this in the context of market opportunities:
- There are 65-75 million baby-boomers retiring over the next 16 years.
- Millions of these retirees are projected to move to Florida.
- Census figures indicate that half of the homes and commercial properties we will need to support this boom haven’t even been built yet.
- In many locations, estate-sized homes are being torn down and replaced with much more expensive homes.
Why are all of these facts important? Because instead of focusing on the price per square foot of a home, or how pretty the rooms are, buyers should be asking themselves, what land location will become most valuable with the coming boom? By determining which locations have the greatest potential for appreciation, investment values are maximized, and your buyers will enjoy that much more financial security.
People moving to Florida and other resort locations will have to compete with thousands of other buyers that want to enjoy the perfect retirement lifestyle. Consider the following ideal locations:
- Island Properties – Most Islands are almost completely built out, meaning they will get even pricier in the future.
- Oceanfront and Riverfront Properties – There is only so much waterfront property, and this product is considered dream property for most people.
- Golf Course Property – Although club memberships tanked during the recession, this property is also very limited, because fewer golf course communities will be built in the future due to cost.
- Downtown Locations – Any property in a good neighborhood that is near a downtown area is likely to be a hot commodity in the future, especially when they are within walking distance of fine dining and luxury shopping.
- Improving Neighborhoods – Properties in improving development areas can offer unbelievable value. Consider skyrocketing prices in metropolitan areas up north that were once blighted, but now have been resurrected.
A buyer only needs to use their imagination and logic to figure out where the best opportunities in real estate are. It will always be about location, location, location. So, if the area has great potential and meets the personal and emotional needs of a buyer, the time to secure the best location is now!
METAMORPHOSIS CONSULTING | 1401 Highway A1A • Suite 201 | Vero Beach, FL 32963 | O: (772) 234-0301 | F: (772) 234-0304 | www.metworldwide.com