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Buying Property Abroad
Liz Hodgkinson completes her series
No. 4 Investing in Florida
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Next to Spain, Florida has become the favourite location for
pure investors. Because this sub-tropical state is so huge – about
the size of Europe - and the appeal of Disneyworld seemingly
inexhaustible, enormous building and development programmes are
going on all the time. As in Spain, golf fanatics are well catered
for and there are more than 60 high-quality golf courses in the
Disney area alone. |
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As we have seen, golf is one of THE most popular reasons for
Britons buying abroad, as golf fanatics are so much better
catered for in hot countries, where they can almost always rely on
the weather not to let them down.
Those who talk up Florida as an investment mecca point to its
exceptional growth rate over the last few years, the continued high
demand for properties both to buy and to rent in the Sunshine State
and the likelihood that present growth trends will continue, driven
by huge and growing amounts of tourists and the continuing expansion
of the Disney attractions.
At the
time of writing, the exchange rate is favourable, although this
could of course change. The mighty hurricanes which devastated much
of Florida in 2004 have hardly affected its popularity, although
much damage was inflicted on the areas affected.
But
Florideans are well geared up for the possibility of hurricanes,
twisters and tornadoes, and all buildings have to be
hurricane-proofed, by law.
Some experts also point out that fewer than 20 per cent of
Americans own a passport, and that it’s not just foreigners who
go on holiday in Florida – Americans do too.
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Liz Hodgkinson is a prolific author
and journalist contributing to many publications. She
has written over 40 books on a wide variety of topics
and has a background in national newspapers. She now
falls into the 'later-life' age category and in
recent years has started writing for this 'older'
market, and contributes to Saga magazine, among
others.
Liz has two sons and four grandchildren. She is
divorced and now lives in London and on the
South Coast. She has written three books on property
matters and her interests include snooping round
other people's houses and viewing showhomes.
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As usual, though, investing in Florida properties demands care,
diligence, research and taking professional advice at every stage.
Those properties likely to increase most in value are ones you can buy
at a significant discount off-plan. In many cases, resale homes will
go for less than the original price.
Florida is currently a highly popular destination for British
tourists; the fact that English is spoken and the legal system is
partly based on the UK model, are undoubtedly major advantages.
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