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Advantages of Investing in Islamorada Real Estate 

Advantages of Investing in Islamorada Real Estate

There are several advantages of investing in Islamorada real estate. Although many people suppose it’s just too expensive or their dream isn’t possible, that’s really not the case at all. The truth is, Islamorada presents a great opportunity; not only financially, but has other benefits, as well. So, if you’re considering buying Islamorada real estate, you should be in the know about its big benefits.

Advantages of Investing in Islamorada Real Estate

As part of the gorgeous Florida Keys, Islamorada, which means “village of islands,” is a great place to own a home. Be it a primary residence, a second home, vacation home, or even a dedicated rental property, there’s few places more beautiful and fun loving than Islamorada. And, because tourism contributes largely to the local economy, there’s plenty of opportunity for property investors. Here are some of the key advantages of investing in Islamorada real estate:

● Low property taxes. Although Florida is the third most populous state and continues to grow, property taxes in the Sunshine State remain relatively low — particularly when compared to the northeast and west coasts. Low property taxes are indeed attractive and help make Islamorada real estate investing more savvy.
● No state income tax. Along with relatively low property taxes, the state of Florida do not have a state income tax. That means you keep more of what you earn. And, it also means if you chose to rent out the property, you won’t have to pay taxes to the state of Florida for that income.
● A very business friendly environment. Florida is actually one of a few states which greatly benefit from its business friendly environment. For this reason, many corporations relocate their headquarters to the peninsula, in order to take advantage.
● Lots of tourism. It’s no secret much of Florida’s economy is powered by tourism. And, since Islamorada is right in the Florida Keys, tourists bring lots and lots of money into the local economy. So, if you foray into Islamorada real estate investing, you can easily count on renting the property out, if you so choose. You can even opt to rent it out periodically, when you’re not in town.
● Significant property appreciation. Because Islamorada is comprised of islands, land is a finite resource. And, that means hefty property appreciation to enjoy year after year.

Along with these benefits, you can also take advantage of tax deductions and/or credits. For instance, the IRS allows write-offs for things such as mortgage interest, utilities, maintenance, repairs, insurance, and more. For help finding the best Islamorada Real Estate please contact us