In Toronto the average price of a detached house is fast approaching $1.2 million dollars. In Florida the average price of a home is $175,000. *
Affordability is a major issue for many local home buyers in the GTA. Fortunately, this is not the case when looking to snap up a deal in Florida. Many Canadians are already home owners with substantial equity in their homes and access to this equity through secured lines of credit. Most FHFC clients also have the opportunity to finance their second homes in Florida with as little as 25-30% down. You can own a second home in Florida with as little as $50,000 U.S. dollars down! These brand new homes can be cash flowing with a tenant in place if you desire and could be cash flow positive EVEN AFTER FINANCING! This is no longer possible in Toronto.
Florida Home Finders of Canada is aware of the impact that a lower Canadian dollar is having on Canadians looking to purchase a second home or income producing home in Florida. However, Canadians are still the second largest foreign buyers of real estate in Florida. FHFC would like to remind you that due to the affordable prices of homes that we have found for you in Florida, we strongly believe that this is still a great time to buy in Florida despite the strength or weakness of the Canadian dollar at any given time.
Despite the currency fluctuations, many of you can afford the lifestyle you desire in Florida. Prices are still affordable but as the Florida real estate market continues to climb and employment rates continue their significant rise, substantial price appreciation will become a factor which will negatively affect affordability for Canadians looking to buy into the Florida market regardless of the state of our currency.
For those wanting to own in Florida but who have not yet taken advantage of the opportunities, let FHFC help you make the dream a reality. There is no reason for Canadians who are looking for a second home or income generating property in Florida to miss another winter soaking up the sun, walking on a beach, playing golf, and enjoying everything that Florida has to offer. Call us now and discover the numerous opportunities available to you. FHFC will walk you through the process making your Florida purchase as easy as possible.
* GLOBE AND MAIL...April 5,2016. Prices surge, listings sink: Average detached Toronto home nears $1.2 million. Realtor com Florida Home Prices