When people think vacation homes today, a lot of them consider a condo for rent for example. Sure, Mexico and the resort areas in particular are great, but it's not the only place on the continent as far as great places to buy. In fact, with increasing crime rates and risky health considerations, as well as rising costs of real estate, some might have second thoughts about buying in Mexico altogether.
What many people fail to realize is that there are great places to buy vacation homes right in the developed parts of North America, and Fort Lauderdale real estate offers plenty of opportunities to take advantage of. The city offers all of the advantages of Mexico say, but without many of the drawbacks. Let's take a look at some factors which you should consider when buying a vacation home.
First, keep in mind that for many years, Florida was the place to buy real estate. No one even thought about going to Mexico, for reasons we will get to in a minute. However, as oceanfront property got more and more expensive, people started to turn their eyes further south. They still got the great weather, but real estate was a fraction of the price.
Well, things have changed drastically today. Fort Lauderdale, like the rest of Florida, was hit hard by the bust in the real estate market. Housing prices have plummeted as people try to offload their vacation homes in a very tough market. There are foreclosures and short sales happening all over the city, and not just in the shadier parts of town either.
On the other hand, resort real estate in Mexico is still climbing in price. The end result is that buying in Fort Lauderdale is actually less expensive than buying in Mexico, something that real estate speculators could not have predicted four or five years ago.
So you can count on a great exchange if you put your winter cottage for sale and use the money to buy in Florida instead. And of course, there are the upsides to buying in the sunny south rather than in Mexico. All of the health regulations, facilities, and laws of the United States of America are in full effect in Fort Lauderdale. The truth is, you never really know what to expect in Mexico.
So when you are buying vacation property, think the northern parts of North America. Cottages further north in Canada, Colorado and Alaska offer one kind of vacation living, and Fort Lauderdale have just as good, only different things to offer.
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