Real Estate Shortage in Central Florida
Updated: Feb 16, 2019
Counties are growing all around the state of Florida, and Seminole County is no exception. This is great for local businesses as well as the state’s economy. However, adjusting to a growing population can be challenging. There are less available jobs, schools can become overcrowded, and affordable housing is hard to come by.
In addition to the current growth happening in Central Florida, those displaced by hurricanes Irma and Maria in the affected islands have been coming to the area seeking shelter, and now that the hotel vouchers offered by Federal Emergency Management Agency (FEMA) have expired, they are also looking in the real estate market for affordable properties, contributing to the high demand for affordable homes that led to the current housing shortage.
About 70,000 people are coming to the area each year, looking for homes that fit their needs in terms of location, comfort, and affordability. With the rising population, Central Florida has ranked third in the country for lack of affordable housing, one of the reasons being that impact fees on new developments are commonly imposed by the state’s government. As new commercial developments arise, real estate prices rise, and many towns in Florida are getting gentrified - renovated and improved - which will boost the economy while also further contributing to the affordable real estate property shortage.
Providing more affordable housing for the growing population is a pressing issue that needs to be addressed quickly. This is where real estate investors come into the picture. Not only can you – as an investor – make a profit from renovating homes, but you will be helping your community during this difficult time.
By flipping old homes and making them more appealing to new buyers, investors can help contribute to an area’s growth and provide affordable housing to end the real estate shortage in Central Florida. Because of the number of interested buyers, houses will sell faster and – in some cases – offers will be higher, providing a greater profit for investors. Many towns in Florida are in desperate need of people who work within the real estate market to provide a solution to this shortage of homes. In Seminole County alone there are 14 cities undergoing gentrification, including Sanford, Heathrow, Oviedo, and Altamonte Springs. Looking for homes to flip and sell in the area is sure to bring profit to investors.
You do not need to be a real estate expert to invest, as companies like us – Transforming Property Solutions – will take care of the buying, renovating, and selling process, and you – the investor – can sit back, relax, and receive capital gains once the house is sold. The time to invest in real estate is now.