The real estate boom of the past five years has created a Florida housing market that is very attractive to home builders. Hundreds of home builders are currently working in the state of Florida, and their work has a tremendous impact on the Florida economy. Housing accounts for 16% of the US Gross Domestic Product, and home builders created millions of new jobs in 2005. A solid market for home builders is a huge benefit for Floridians living in a state where housing has been big business for years.
Although there has been concern of late over a cooling housing market, sales of new homes remain strong. Home builders across the country have adjusted their plans to suit the realistic expectation of today’s market, which maintains the delicate balance between supply and demand. Sale prices have dropped somewhat, and this creates a housing market that favors today’s Florida home buyer.
The Current Market and the Resulting Impact on Florida Home Buyers
It is vitally important for the Florida home buyer to be aware of the current market conditions, and what home builders are doing to improve their product and attract new home buyers in a competitive market. Despite rising mortgage rates, the current housing market favors the buyer. Increases in income levels across the country and decreases in previously skyrocketing housing prices have created an excellent market for today’s home buyer.
For the first time in five years, the Florida home buyer is in the driver’s seat. Bidding wars are a thing of the past, and with a bit of research and careful shopping, it is now possible for the home buyer to get a lot more for their money. And when Floridians purchase newly constructed homes from Florida home builders, it provides the impetus needed to continue growing the Florida economy. This creates a win-win situation for both Florida home builders and Florida home buyers.
New Trends in Florida Home Building
There will always be tract home builders, especially in Florida. But the latest trend in Florida home building is one of higher quality at affordable prices. The Florida home buyer no longer has to settle for a tract or cookie cutter home just because they can’t afford the steep price tags that once accompanied high quality custom homes.
Affordable Safety Upgrades for the Florida Home Buyer
A few home builders in Florida are taking hurricane safety and preparedness to a new level when constructing their homes. Not only are these homes built above Florida hurricane code to withstand a Category 4 hurricane, they are also affordable for the average Florida home buyer. These sturdy homes are built using solid poured concrete, additional roof truss straps, and impact resistant windows.
Any additional cost incurred when purchasing a home with these special safety features is offset by the benefits they provide. It is often possible to obtain discounts on homeowner’s insurance policies, since these above code homes sustain far less damage during a severe storm. This resistance to storm damage also saves the home owner from costly repairs and rebuilding expenses. Not to mention the protection the homes provide for the homeowner’s most valuable possessions.
More Options for Today’s Florida Home Buyer
Another method Florida home builders are using to attract new buyers is to provide a wider array of customization options on all of their homes. Today Florida home buyers have the opportunity to purchase the home of their dreams, with all of the amenities they have always wanted.
High quality custom home builders are currently offering new buyers everything from upgraded interior and exterior paint colors, better landscaping and irrigation systems, granite countertops and upgraded kitchen cabinetry, substantial lighting and fixture allowances, and top of the line appliances.
Most builders of high quality custom Florida homes are also offering their buyers an array of spacious floor plan choices, and homes built in some of the most desirable communities in Florida.
On all accounts, there has rarely been a better time for the Florida home buyer to purchase a beautiful, high quality custom home from a reputable Florida home builder. With more options, safer construction, and stabilizing (and in some cases, falling) sale prices, Florida home builders are going above and beyond to attract new buyers. This is great news for the Florida home buyer.