Buying a New Home in South Tampa
Buying a home is a major life step for anyone, and the American housing market has largely recovered from the 2008 crash. Now, the housing market is a robust one, and home buyers young or experienced alike may look for many fine options on the market. In the South Tampa area of Florida in particular, new homes are widely available, and there are some statistics being kept to track the South Floridan housing market. Houses for sale in Tampa may fetch prices in loftier ranges, but many older home buyers are ready and willing to enter this market and find fine Floridan homes. What to look for in a new house? Which property among the many homes in South Florida is the finest for a buyer? These are important questions to ask, but fortunately, many professionals are available to help.
South Tampa Homes
Those who live in the southernmost region of Florida may take note of local trends and prices in the real estate market there. This area is popular due to the fine schools and many miles of beach, and this may draw large crowds of home buyers ready and willing to spend large sums on new homes. What is there to know? Neighborhood Scout has shown that the median house value in Florida today is close to $209,623, and homes in the popular South Tampa area may be above that median. Not many homes cross the one million dollar mark, but some certainly do. Neighborhood Scout has shown that around 1.5% of homes do cost $1.42 million or more, and some may be found at South Tampa’s beaches. Florida is home to many miles of coast line and sand beach, making this state popular to move to. This certainly includes the South Tampa area. Here, some general home buying strategies can be used.
What to Look For
Homes vary in their location, condition, features, and size, even if a buyer limits their search to the South Tampa area in particular. Finding such a home may be daunting for some buyers, such as younger Millennial home buyers who are doing this for the first time. Millennials are young adults born from 1982 to 1995, and they are now old enough to afford major purchases such as cars and houses. They don’t have the same experience as their Baby Boomer parents, however, so they may turn to real estate agents and even real estate property lawyers to handle the paperwork.
Young or old, a home buyer can follow some basic strategies to find good homes, and there are some trend and conventions to keep in mind. A home buyer may, for example, find homes that have some landscaping done on them. These properties have had their front or back yards redecorated and modified to be more useful and attractive, and this may be desirable to home buyers. This also reflects in the price, but many buyers may love the convenience of a landscaped lawn ready for them. A homeowner may expect a good return on investment, or ROI, when they carry out landscaping. In fact, investing as little as 5% of a property’s value on landscaping can yield an ROI as high as 150%. In an upscale area like South Tampa, this can result in high returns indeed.
Something similar may be true for the interior. Remodeling is popular among homeowners, especially older ones, who invest around three times as much into this work as younger homeowners. Remodeling may be done for a few particular rooms or even the whole house, and this can even involve new utilities. Old toilets, sinks, stoves, and more may be replaced with modern and efficient models, and new decor such as countertops and tile floors may be expected. Like with landscaping, this results in generous ROIs, and a home buyer may appreciate a home that has a modern and appealing interior set up and ready for them.
Properties for sale can be viewed online with photos, but a visit in person is a must. A buyer can explore the home with a guide and “get a feel” for the premises, not to mention check for any maintenance issues. This gives the buyer a more complete image of what the property is like before buying it.
