Why is 2016 the perfect time for British clients, British Investors to purchase in Florida or in the United States?Terry Riffe | February 25, 2016
Why is 2016 the perfect time for British clients, British Investors to purchase in Florida or in the United States?
One of the main reasons is the climate, the sunny warm climate that they like. Not only that, they speak the same language. That definitely has its advantages.
In 2015, according to the Realtor Association, Orlando had an increase of 9% appreciation – going in the right direction if that is what you are looking for when investing in Central Florida. Not only that, the UK market is changing tremendously. Starting April 1st, there will be an extra 3% Doc stamps on any new secondary purchases. Any clients or people that are buying a secondary home, investment home or a ‘buy to let’ will pay an extra 3% Doc stamps, which is significant.
Not only that, a bigger issue I see is when owning property – or investment property, buy to let- you will also not be able to deduct any of your interest rates or your interest on your loan or your mortgage. That is a big expense to a lot of British clients that will be the reason they want to sell or they do not want to buy in the United Kingdom anymore.
So, a lot of clients are looking now to purchase somewhere else. With all of the problems that are happening in Europe, Florida is probably the next best thing and the safest place to buy. A lot of our clients are talking to us and are thinking of either buying either pre-construction, new or existing properties.
If you have any questions, feel free to email me at An@OrlandoVacationRealty.