Florida, home to warm, sunny weather, beautiful beaches, and the happiest place on Earth. What isn’t there to love about this southern state? Not only do millions of people vacation to Florida every year, but a lot of them never leave.
In fact, Florida is one of the fastest growing states in America. Roughly 1,000 new residents arrive in Florida every day, and more than half of them are coming from New York state. As a result, Florida real estate can be pricey compared to other states. In fact, the Miami Herald recently reported that Florida real estate developers have run out of waterfront property in prime locations in South Florida. As a result, many of the luxury estates and homes for sale in Parkland cost upwards of $30 million.
So why are so many people from around the world paying eight-figure sums to purchase sprawling, waterfront homes for sale in Parkland, Boca Raton, Miami, and other popular Florida cities? There are many reasons people move, from job opportunities to change of weather, but here are three common reasons people start searching for Florida homes for sale.
No State Income Tax
Buying a house has a lot to do with location, and Florida is very enticing. Florida is one of only seven states across the United States that does not impose income tax at the state level. If you are in a higher income tax bracket, or even if you’re not, this is a major perk.
No State Death Tax
The lack of a state income tax is a major reason that Americans from top tax brackets prefer Florida, and the lack of a state death tax is another. If you have a relative, spouse, partner, or parent that passes away in the state of Florida, you don’t have to worry about state death or estate taxes. That may save your family a lot of money. If you have always planned to pass along your life’s work to your children, Florida is an excellent state to call home.
Resources Are Abundant
When we talk about resources, we don’t just mean the abundant sunshine, lush vegetation, and rich, natural ecosystem. In addition to its unique environment, Florida also has an extremely positive business environment. You can easily find excellent wealth strategists, tax advisers, luxury realtors, and estate planning attorneys. Because Florida is such an attractive state for the wealthy, these types of agents also call it home.
According to The Balance, “these advisers are creative and proactive in assisting their clients with growing wealth, minimizing taxes, avoiding probate, keeping clients’ final wishes private, and creating an ongoing legacy.”
If you take your wealth seriously, then Florida is the state for you. We know that making a big move can be intimidating, but not if you pick the right place to live. There are several benefits of living in Florida, including financial ones. There are no state income taxes, death or estate taxes, and there are financial advisers galore for assistance. And, of course, there are breathtaking luxury homes for sale in Parkland.
If you want to move to Florida, contact us today to find your dream estate.
by Rusty Hanna –Broker Associate, Mizner Grande Realty, LLC.
www.RustyHanna.com | Rusty@RustyHanna.com | 954-444-8686
Rusty Hanna is a Realtor who specializes in the Parkland, FL area. His foundation for success is built upon trust, expertise, and first-class service. Rusty Hanna attributes his success as a leader in South Florida’s real estate industry to his unwavering dedication to his clients and his knowledge of the entire process of buying and selling a home from beginning to end. Clients find comfort in knowing that their realtor is also a licensed loan originator with over 20 years of experience. This knowledge allows him to facilitate a smooth transaction for his clients giving them peace of mind.
Rusty Hanna has partnered with one of Palm Beaches most exclusive luxury brokerages, Mizner Grande Realty. Together they have contributed to a record setting volume of $1.75 Billion in closed transitions.