There are an entrée of parks, pools and other outdoor amenities available to homeowners and guests of the onsite resort, WaterColor Inn. The re-designed and upgraded community amenity, Camp WaterColor, is located in the Camp District of the WaterColor Community. Purchasing your piece of WaterColor real estate in the Camp District will put you closest to Camp WaterColor, which was re-designed with families in mind, as it provides homeowners with access to a zero-entry pool, a tower slide and lazy river, half a basketball court and children’s playground. Not to mention the onsite restaurant, The Canteen! Allowing families to enjoy an entire day at Camp WaterColor without ever having to leave.

The WaterColor BoatHouse is an iconic amenity on Western Lake and is located in the Park District, adjacent to the Lake District. The Lake District is one the larger Districts, offering nearly 400+ homesites and home to the Sand Hill Pool or “Frog Pool”. But you’ll need to purchase your WaterColor real estate in the Park District for more immediate access to the WaterColor BoatHouse. At the Boathouse, you can enjoy Stand Up Paddleboard (SUP) classes and races, and a variety of other on the water activities, it is also home to the BoatHouse pool. The WaterColor has no shortage of pools for homeowners.

If you purchase a WaterColor home for sale in the Cottage District, you’ll be within a serves-shot of the award-winning WaterColor Tennis Center & Courts. Featuring five Har-Tru clay courts, including one with stadium seating for better views, as well as two pickleball courts. After hitting the well quipped Tennis Pro Shop, you can play on these top Diamond Award courts, complimentary play is available for homeowners.

Even with all of these incredible amenities, we all know nothing compares to the beach in WaterColor. The beach, shopping, WaterColor Inn, restaurants and the WaterColor Beach Club are comprised of the Beach District, Gulf District, and Park District. The WaterColor Beach Club’s recently completed expansion tripled the pool deck size to meet the demand put on the Beach Club during peak times of the year, featuring 3 pools on a multi-level deck and 3 wonderful onsite food and drink options. All of which look out onto the breathtaking views of the Gulf of Mexico. Do you need another reason to consider buying real estate in WaterColor, Florida?

Interested in learning more about WaterColor, FL real estate? You can get better acquainted with the layout of the WaterColor Community by viewing the official WaterColor Community map. You can also get a live view of the beach in the WaterColor Community on SoWal’s Beach Cam East, and Beach Cam West.

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Making an Emotional Decision

Perhaps the biggest mistake everyone should avoid when buying a vacation home is making an emotional decision instead of a practical one. It happens all the time—someone takes a vacation somewhere and falls in love with the area so much they laser-focus on that one area to buy a second house.

While it’s great to search for a vacation home in an area you’re already familiar with, you don’t want to limit your options before you even start your search—you may find better value in a different area. This may seem disappointing at first, but you’ll realize it was the best decision in the long term.

Not Conducting Thorough Research

One of the problems with making an emotional decision for a vacation home is it often means the buyer hasn’t done their research. A vacation house is a sizable investment and asset that can dramatically affect your finances, so you want to be confident in your final decision.

Before you narrow down your options and decide, you’ll want to conduct as much research as possible about the property, the surrounding neighborhood, and the location. What’s the property’s history, and how have home prices in the community changed in the last 10 years?

Pro Tip: Familiarize yourself with local property tax laws and possible tax benefits for second homeowners and landlords.

Breaking the Budget

Even if a house is over your budget, it can be challenging to say no to what you think is the vacation home of your dreams. But a dream vacation home can become a nightmare if it becomes too much of a financial burden.

Before you start browsing properties, set a strict budget for yourself and stay disciplined in holding to it.

Overestimating Potential Rental Income

Sometimes, buyers will convince themselves to go over budget on a vacation home by noting the potential rental income. While renting out a vacation home when you’re not there is a great passive income opportunity, there are no guarantees as a landlord.

It could be months or years before the property can host renters, and even longer before it starts to turn a profit after maintenance and expenses.

Not Considering Maintenance & Management

Too often, vacation home buyers don’t consider the maintenance costs for their new property. Managing a home hundreds or thousands of miles away can be an expensive hassle.

Property management companies can help, but that’s an added cost; if you’re already at the edge of your budget, it could tilt you over what you can afford.

One way to avoid these common vacation home-buying mistakes is to use a trusted real estate company like 30A Local. We can help make your search easier for properties along the 30A, like Watercolor homes for sale or vacation properties in Alys Beach.

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How To Tap Into Your Home’s Equity

There are multiple ways that a homeowner can tap into their newfound equity. They can do a cash-out refinance, which means refinancing the home with a larger mortgage to lower the rate or reduce monthly payments.

Homeowners can also opt for a home equity loan, a loan taken out against the home’s value and paid off over a period, typically 10-30 years. Or, there’s a home equity line of credit (HELOC), which—instead of a loan requiring the homeowners to take out a lump sum—is a pool of money that can be accessed only when needed, like for emergency repairs.

Ways Homeowners Can Use Their Growing Equity

Whichever avenue homeowners choose, there are many ways for homeowners to use their growing equity to improve their current finances and plan for the future.

Home Improvements

Does your home need some expensive repairs that you’ve been putting off, like a leaky roof? Leverage your newfound equity into a new roof or other projects that’ll help increase your home’s value.

Other home improvements that can give your home value a boost includes:

• New garage door
• Remodel the bathroom
• Add a master suite

Debt Consolidation

One way homeowners can leverage their equity is by using a home equity loan for debt consolidation. Essentially, it means borrowing against the equity you built in your home and is beneficial if you’ve got a lot of credit card debt with high-interest rates.

Consolidation allows homeowners to merge multiple debt obligations into a single monthly payment and can help them pay off debt sooner.

Real Estate Investment

You’ve been successful in your real estate investments, so why not take the earnings from your current home and put them towards a new one? Many homeowners use a home equity loan or HELOC to help make a down payment for another property.

It can be a vacation home or a rental property that gives homeowners another income stream with rental income. If you think you want to invest your new equity in a second home in Florida, our agents can show you beautiful Prominence 30A real estate properties that are excellent investments!

Education Expenses

Do you have kids planning on going to college soon, or are you considering pursuing higher education yourself? Tuition costs and student debt are rising, but a home equity loan can help pay tuition expenses, so you or your kids don’t have to be saddled with debt to receive an education.

There are many more ways homeowners can use their growing equity to their advantage, but those are just some popular approaches. If you want to leverage equity into a new property in Florida, we can show you some gorgeous homes along the 30A coastline!

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Fact #1: They’re Not Free

Although home inspections are essential for anyone buying a property, they’re not legally required. If you want your possible future home inspected, you’ll have to arrange it and foot the bill for the inspection.

The cost of a home inspection depends on the location, size, and many other factors, but they’re typically around $300. Home Advisor has an online tool that offers buyers an estimate for a home inspection, for free! Whatever the cost of the review, it’s worth the peace of mind knowing your home is in reliable condition.

Fact #2: They’re Not Interested in Paint Color

No house is perfect, no matter how much you love it. Naturally, a home inspector will find a few faults as they make their way through their checklist, which is hundreds of items long.

But they’re not there to give an opinion on the wall color or flooring options. Home inspectors are looking for adverse conditions that could result in a severe loss of value. They want to know if the home is structurally sound before you move in, not if the kitchen cabinets are updated.

Fun Fact: Home inspectors examine not just residential homes, but multifamily dwellings, condos, and even commercial buildings.

Fact #3: You Should Be There

Whether you’re buying or selling the house, it’s a good idea to be there when the inspection happens. If you’re selling and the buyer hires an inspector, you don’t have to be present, but you’ll want to be there if you hire the inspector.

The inspector will write up a detailed report, but they’ll be more thorough and easier to understand when you speak with them directly about potential problems. Also, it’s easier to ask questions in person than over the phone and when their memory is fresh from the inspection.

Fact #4: It’s Not an Appraisal

Many buyers new to the process mix up the home inspection and appraisal, but they’re very different property examinations. Lenders require appraisals for a mortgage, so the appraiser’s job is to ensure that the property isn’t overpriced.

An appraiser will consider proximity to schools and prices of recently sold properties similar to the one they’re inspecting. A home inspector is more thorough and is only concerned with the home’s structural integrity, not its price and relation to the market.

Fact #5: They Can’t See Through Walls

A home inspector will examine hundreds of things in a home, but they won’t go underneath the floorboards or in the walls. Inspectors will do their best to get a complete assessment, but they can’t see through walls.

If you’re planning on renovating the home and come across hidden problems beneath the surface, you can’t hold the inspector responsible for lacking X-ray vision. Typically, if they find possible symptoms of more significant, hidden problems, they recommend you get another inspection from a specialist.

These home inspection facts are crucial, and you should know them if you’re buying a house. If you’re interested in a new Florida vacation home, talk to us, the 30A experts, about Watersound Beach real estate, Alys Beach homes, and more!

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Florida Real Estate Trends in 2021

Before we can look ahead to what we think 2022 has in store for Florida’s real estate, let’s rewind the clock to 2021. How did Florida real estate perform in 2021?

The Florida real estate market flourished in 2021 and finished on a high note that looks to continue into 2022. 2021 saw the return of the spring buying season, which was absent in 2020 because of the pandemic. A strong job market and increasing population led to a record number of home sales in the state in 2021.

In the end, 2021 was an excellent year for Florida real estate investors, and many more are predicting 2022 will surpass 2021-record levels of home buying and housing prices.

Why Florida’s Real Estate Outlook Is Strong

The early returns and future outlook of Florida’s 2022 real estate market look very promising. There are several reasons for the bright future of Florida real estate, but it mostly comes down to the growth of the population and jobs in the state.

Large and Growing Population

Florida is already one of the biggest states in the US, behind only California and Texas, but it’s also one of the fastest-growing and has been for years. Since 2010, the state of Florida has added 2.7 million residents. That’s a nearly 15 percent population increase in a little over a decade, which has made the state a hotbed for housing development and job growth.

The population growth shows no signs of slowing down, either. Of the 10 fastest-growing cities in the country, 9 reside in Florida. Cities like Sarasota, Ocala, Naples, and Fort Myers are all experiencing population booms, which seems to be the case for practically every city in the state in 2022 and beyond.

Florida expects about 800 new residents every day over the next few years. That’s a lot of new people moving to the sunshine state every day! And, of course, if they’re moving to Florida, they’ll need new homes.

Job Growth

The job market and real estate market always go hand in hand; if one is up, the other is probably up, and the other is usually doing the same if one is down. In Florida’s case, a growing and robust job market is fueling a real estate boom as more and more people move to Florida for jobs.

It’s no secret that Florida is one of the most business-friendly states, with favorable tax rates that have attracted many businesses to move south. In the past decade, the gross domestic product of Florida has grown by a staggering 48 percent, which is equal to roughly $1.1 trillion.

Naturally, a booming economy such as Florida’s will attract jobseekers who need somewhere to live, hence the solid real estate outlook for the state.

Best Florida Cities for Jobs

Consistently, experts name Florida cities like Jacksonville and Tampa as some of the best places for jobseekers. But what’s favorable about Florida is that job growth is happening across the state, not solely concentrated in a few major metro areas like some states. Even during the pandemic, when national job growth was below 1 percent, Florida jobs grew by over 5 percent.

Pick a city in Florida you want to move to; odds are it has one of the fastest-growing job markets!

Florida Real Estate Market Trends for 2022

Florida’s population and job market are growing, so it only makes sense that its real estate market is also trending upward. Records show that the median home value in Florida has increased by nearly 25 percent just in the past year. Add in the previous five years, and it’s upward of 70 percent!

Florida homes are both selling well and selling quickly. The median time to contract, which is how long it takes on average for a listing to receive a sales contract, is less than two weeks. People are moving to Florida fast and scooping up available homes quickly.

The Renter’s Market

Along with increasing home values, Florida’s rental rates have also risen. The average rent in major metro areas in Florida has increased by 30 percent in the past couple of years alone. If you own a second or vacation home in Florida, this is excellent news, as your potential rental income is only likely to increase in 2022.

Currently, renters occupy a little over 30 percent of housing units in Florida, so there is still optimism that the market could increase in the coming years. Plus, renting out a vacation or second home is turning into a promising supplemental income opportunity to help pay for increased home values in the state.

Rising Home Values

We’ve talked about all the favorable indicators for Florida’s real estate market, and the bottom line is that home values are increasing in the state and will continue to trend that way for 2022 and beyond. Since the start of the 21st century, the price of Florida homes has ballooned by over 150 percent.

Even if you only look at home values for the past five years, including a down year due to the pandemic, prices have gone up by 66 percent in Florida. Even with all the negative factors over the past couple of years, Florida’s real estate market keeps growing.

What Florida’s Real Estate Trends Mean for the 30A Community

Florida’s economy and real estate outlook are both quite favorable, so what does that mean for the 30A area and the local beach communities?

The population increase throughout the state has already affected the 30A, and all signs point to that continuing. Job growth is up across the state, and with the 30A being near Tallahassee, which has a booming job market, it’s likely to attract more visitors and residents looking to invest in a real estate market trending upward.

So if you’re thinking about investing in Florida real estate, the 30A area is a great place to start, as it retains its small beach town charm but still has plenty of opportunity for growth. Plus, when you consider the potential rental income and growing value of Florida homes, there’s no denying the investment quality.

Whether you’re looking at Seagrove Beach or Rosemary Beach homes for sale, our agents and experts at 30A local properties can help you find the right property that fits you.

As you can tell, Florida’s scenic 30A beach real estate trends for 2022 look promising and robust. There’s no better time to invest in Florida real estate! The 30A area is a prime opportunity to find a beautiful property that you can enjoy with massive value increase potential.

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Do Some Market Research

Before you jump into the world of property rentals and invest your time and resources into renting out your vacation home, you want to do your homework first and gather as much information as you can. Look at vacation homes in the neighborhood and surrounding area; how many other rentals are there? What are their rates? Much of what renters are looking for in a rental is a good neighborhood, so your vacation home’s location will significantly affect your rates. For example, Prominence 30A real estate may have different rental rates than Seaside, even though they’re both considered part of the 30A community.

Also, be sure you’re familiar with all the tax codes of the city and state in which your vacation home is located and how they may affect your taxes later on. Different places have different regulations for hospitality, and you don’t want to get fined for breaking any ordinances.

Invest in Your Property

We all know the adage that you have to spend money to make money, which is also true of renting vacation homes. You may think your vacation home is perfect, but try to see it with fresh eyes like potential renters will see it. What can you upgrade that could increase your home’s value? Upgrades can be as simple as new bed linens or as complex as new flooring. Are there small cosmetic issues that you never got around to fixing? Now’s the time to do it.

Don’t forget about the exterior and landscaping of your property. Curb appeal is crucial to attracting renters, so you want to be sure your home and the surrounding property look as good as they can.

Delegate Responsibilities

You might be thinking that since it’s your vacation home and you’re renting it, you’re the most qualified person to manage it. But don’t underestimate the time and effort managing a property takes, especially if you’re doing it yourself. You’ll be responsible for maintaining the property, getting it ready, cleaning it, scheduling bookings, fielding phone calls, answering questions, and much more. In the end, you’re probably better off using a property management company. It might cut into your profits, but it will bring experience to the table and guide you through any challenges. Plus, it’ll take care of the bulk of the logistical headaches while you focus on the bigger picture.

We hope you’ve learned how to better manage your property with our three tips for renting out your vacation home. If you ever need more real estate advice about the 30A area, consult the experts at 30A Local Properties!

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