Since the beginning of the COVID-19 pandemic, the prices of homes have skyrocketed, leaving many first-time home buyers struggling to find a house that they love within their budget. Luckily, there are still a few areas that remain both appealing and affordable for new homeowners. Today, I want to explore three towns in Central Florida with a great buyer’s market and also share some tips for first-time home buyers.
Top Towns for Buyers in Central Florida
In general, areas that tend to be more reasonably-priced are the suburbs of larger cities. These spots are a great option for first-time buyers who want to join in on the hustle and bustle of a big city but are also on a budget!
Just outside of Orlando, Maitland is filled with townhouses, condominiums, and single-family homes galore! Listed as one of the top 10 towns for first-time homebuyers by Realtor.com, the city is rapidly growing as new buyers flock to the area. The commercial real estate industry is not far behind, with an increasing amount of businesses and restaurants moving to the area too. With the median home price around $390,000 and townhomes starting at $180,000, Maitland offers a great price point for the location.
Listed as the best and most affordable city in Florida by Market Watch, Kissimmee has so much to offer for first-time homebuyers. Close to amusement parks like Disney World and Universal Orlando, Kissimmee is a perfect spot for those who want to join in on the fun. With the increasing amount of tourism, the economy here is stable and growing. With homes in the low 100K range, it’s a worthwhile option for homebuyers on a budget.
St. Cloud offers residents a suburban-rural feel, thanks to its close proximity to both Kissimmee and Orlando (just a 30-minute drive!) as well as the St. Cloud Lakefront and numerous parks. Plus, it has an emerging downtown area of its own. Situated in Osceola County, residents appreciate the lower property tax base. When it comes to house hunting, buyers have a number of options, from older classic homes to new subdivisions.
How to Snag a Home as a First-Time Buyer
It’s no secret that the buyer’s market in Central Florida is quite competitive. When buying your first home, there are several things that you can do to ensure that your offer will be accepted. Here are a few tips to help you beat out the competition and buy your dream home:
Have a pre-approval letter ready to go before you make an offer.
If you are able to provide an all-cash offer, it can really boost your chances of having your offer accepted!
An offer with no contingencies (that is, an offer not based on any conditions or actions happening) is very appealing to home sellers.
With a market as competitive as the one in Central Florida, many homes are accepting offers well over the asking price. If you can find a home under your budget and make an offer above the asking price, you’ll improve your chances of having your offer accepted.
Lastly, it’s important to find a trustworthy realtor to assist you in your home-buying needs.
Let The Urban Dog Group help you with your real estate needs! Contact Christine Elias at email@example.com.