Whether you are a prospective buyer or a seasoned local looking to explore new neighborhoods, the Sunshine State might be beckoning you to make your new home there.
Central Florida is a vast region encompassing cities like Orlando, Tampa, and Sarasota, each with unique charm. Orlando, known for its theme parks and dynamic job market, might appeal to those seeking an urban lifestyle. On the other hand, Tampa Bay offers a mix of cultural events, beautiful beaches, and a thriving waterfront.
As a potential homeowner, consider your lifestyle and preferences when selecting an Orlando realtor to ensure they can find the perfect house for you.
Let’s take a look at the pros and cons of moving to Central Florida:
Pros
No Corporate or Individual Tax
The absence of individual and corporate income tax in Central Florida particularly appeals to many individuals seeking a more favorable financial climate. Without the burden of state income tax, residents can enjoy higher take-home pay and allocate their earnings toward various needs and investments. This financial benefit has contributed to the region’s population growth as people from other states, especially those with higher tax rates, are drawn to Central Florida for its economic advantages.
Low Utility Bills
Utilities, including electricity, water, heating, and cooling, are essential for daily living. In Central Florida, the cost of utilities is generally reasonable. The warm climate reduces the need for excessive heating during the winter, which can contribute to lower utility bills.
Additionally, the region has embraced sustainable energy practices, such as solar power. This can positively impact utility costs and make a living in Central Florida more environmentally friendly.
Booming Job Market
Central Florida has been actively diversifying its economy beyond tourism. The region has become a hub for technology and innovation, with the development of research parks, business incubators, and a growing number of tech companies. Cities like Orlando have embraced a vision of becoming a smart city, investing in infrastructure and initiatives that promote technological advancements and attract skilled professionals.
Cultural and Recreational Amenities
Central Florida is not just about theme parks. It’s a hub of cultural and recreational activities. From art galleries and museums to outdoor festivals and sports events, the region offers something for everyone. Consider proximity to these amenities when choosing a neighborhood. Downtown Orlando’s vibrant arts scene, Tampa’s historic Ybor City, and Sarasota’s cultural festivals are just a few examples of the rich offerings waiting to be explored.
Excellent Culinary Scene
One factor contributing to Central Florida’s culinary success is the region’s cultural diversity. Restaurants specializing in cuisine worldwide, including Latin American, Asian, European, and Middle Eastern, can be found in the region. This diversity allows residents and visitors to embark on a global culinary adventure without leaving the region.
Cons
Sweltering Summers
Central Florida is synonymous with heat, especially during the summer months. The scorching temperatures can be overwhelming for some individuals, making outdoor activities less enjoyable. High humidity levels add to the discomfort, making even a short walk feel like a sauna experience.
While the warm climate attracts many, those who prefer milder temperatures might find the relentless summer heat a drawback to living in Central Florida.
Hurricane Risks
Situated in a hurricane-prone zone, Central Florida residents often have to deal with the anxiety and potential dangers of tropical storms and hurricanes. The hurricane season, which typically runs from June to November, can bring about evacuations, property damage, and power outages, impacting the daily lives of those in the region.
The need for hurricane preparedness and the occasional disruption caused by these natural events can be a significant concern for individuals considering or residing in Central Florida.
Pricey Housing Market
Orlando is a major city in Central Florida known for its theme parks and vibrant cultural scene. The median home price in Orlando varies. However, the housing prices saw a 9.7% increase since last month, bringing the median sale price to $395K.
The market can be competitive, especially in desirable neighborhoods near attractions and downtown.
High Crime Rate
According to recent statistics by Brookings, the region has experienced fluctuations in crime rates over the past few years. Authorities measure crime rates by considering the number of reported incidents per 100,000 residents, encompassing various categories such as violent crimes (e.g., assault, robbery) and property crimes (e.g., burglary, theft).
Between 2019 and 2021, the largest cities in Florida, including Orlando, Tampa, and Jacksonville, saw an uptick in crime. Tampa led with a 37% spike, Orlando 19%, and Jacksonville 21%.
As you search for the perfect house in Central Florida, take the time to explore the various sides of this region. Engage with local experts and delve into neighborhood nuances to envision a life that aligns with your aspirations.
Discover the home of your dreams with Megan Dowdy Realty. We have been turning visions of comfort into addresses for decades, and we can’t wait to do the same for you! For more information about Orlando real estate, call 407-509-9279.