Why Boca Raton is the Only Place to Look at for Real Estate Investments

Posted by Jean-Luc Andriot on Saturday, September 24th, 2016 at 11:03am.

City of Boca Raton welcome sign

In a recent article found in the Sun Sentinel, the author titled "Single-Family Rentals on the Rise in South Florida". With the inevitable happening as an election year is once upon us. As history points out, economic insecurities are prominent after a new president is elected. With unpredictable economic growth, potential changes in the market, such as an increase in interest rates and a multitude of other predictable events, many people may still be debating on investing in South Florida properties. In this blog, we point out a few items that may help you with the decision to purchase in Boca Raton whether this is a venture, or you're relocating.

The same report written by Paul Owers includes the following statement: In Palm Beach, Broward and Miami-Dade counties, 22 percent of the 904,700 homes were used as rentals in 2015, according to U.S. Census data analyzed by real estate website Zillow.com. That's up from 19.5 percent in 2014, and it's the highest percentage since 2005, the first year the figures were calculated annually, Zillow said.

Keeping in mind, the high percentage of rental properties continuously growing, we are still seeing many of the single-families holding off on becoming homeowners. However, luxury and beachfront properties continue to have robust sales when it comes to homeownership. High sales in real estate are especially so in a place such as Boca Raton Florida, since this is a preferred area among out affluent communities.

Many people relocating here, whether it is permanently or part time isn't the point. There are a lot of investors that are also present in the community and why not? Because of people that we call 'snowbirds' may only be here six months out of the year, many of them rent out their homes as a secondary income and keeping the property with no-vacancy making it more secure.

As a vacation hot spot, Boca Raton has plenty for visitors to see and do. Rather than leave their property empty, some owners have found that renting to part-time residents can work out well. Especially now with companies such as AirBnb as alternative rental properties for people wanting to vacation or visit near beaches and waterways. Since many of our snowbirds and retirees hold homes as secondary properties the opportunity to rent to others while the house is vacant makes perfect sense. We're not saying this is for everyone. However, if renting your property is something you've pondered, it may make sense for you to do a deeper dive into this setup.

For residents living in luxury condo's and even in the country club homes, renting to executive clients can be rewarding with little issues. Since many events take place in and around Palm Beach County such as golf tournaments, art gallery openings and conventions targeting this crowd for your rentals may be quite lucrative. Business owners traveling with their team may weight dollar for dollar as a less expensive and better experience to rent a home rather than lodge at the hotels. It depends on the situation, but, can create good relationships along the way while possibly paying for part of all of your mortgage.

Other than mortgages, let's discuss the robust economy is flourishing in Boca Raton. Several new businesses have been opening in the area, and the commercial real estate market is stronger than ever. With a population inside the city limits of close to 63K, there's plenty of work and housing for everyone to live a quality of life. For those seeking investment properties a healthy and vigorous economy is a must.
Why would anyone looking to open their business benefit by doing so in this area? A question with an even better answer, as there's no corporate income tax on limited partnerships as well as Subchapter S-corporations. There's no corporate franchise tax on capital stock and no state-level property tax assessment. Not only that there's no property tax on business inventories making significant savings for those looking to relocate their corporations to this area. You can find out more information on this by visiting www.myboca.us and looking under the business drop downs.

Other than tax initiatives, Boca Raton tends to maintain value in the properties built here both residential and commercial. The city strives to keep it clean and make it attractive for both tourists and residents alike.
The community is home to both Florida Atlantic University and Lynn Universities making college renters a huge commodity. Another important point to make, other than the universities Boca Raton is the home of award-winning schools from K-12. People looking to relocate to this area may look to rent a property before committing to a long-term agreement, which is yet another reason why investing in rental properties here may be attractive to some.

Since many of the properties are near Florida's waterways and beaches, people are always looking to enjoy the recreation vastly found here. Whether you live in Royal Palm Yacht and Country Club or Townsend Place, you have access to bike trails, yachting, and fishing within short distances. Not only that, Boca Raton is a home of some of the nation's 5-star golf courses. Places such as Boca Raton Resort & Club offers an incredible opportunity for putting on the green and driving on the fairway. These benefits are why places such as Townsend Place is an ideal location for people looking to rent their properties to corporate entities.
Speaking of golf courses, many of our country clubs include golf and tennis as part of the amenities. What a better way to spend a few days enjoying the festivities while renting a multi-million-dollar home. While this may not be for everyone, if you were thinking about spending money at a country club home, there's plenty to choose from down here. Places such as Boca West and the Polo Club offer optimum conditions for those looking to rent to high-profile clients.

In closing, if you've been considering buying a real property for purposes of renting it or opening a business etc., it's imperative to work with a realtor who knows the area and the ins and outs of the locations economy. Your real estate professional can guide you into a sound venture that you'll be considerably happy with whether it's for you or your future renters. Boca Raton proves to be one of the most logical places with a stable economy and all the other amenities for a vigorous and healthy investment.

In the meantime, if you're interested in selling or buying property here, contact our luxury specialists for assistance.

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