By any metric, the Sunshine State is usually high on many people’s lists as a good location for a new custom vacation home.
Its splendid weather, world-renowned attractions and national beauty lure millions of visitors annually. So if you and your household would like future Florida vacations to include more comforts of home rather than hotels and rentals of any kind, we at ICI Homes have you covered.
Buying or building a new custom Florida vacation home is a smart investment that can pay immediate and future dividends, and we’ll detail some of those below.
Read on for the best place to buy a vacation home.
Financial factors
Buying or building a new custom Florida vacation home is a financial transaction that’s probably more expensive than a spring-break rental. But there are positive factors to such a purchase.
One is that Florida is one of nine U.S. states with no state income taxes. Alaska, Nevada, New Hampshire, South Dakota, Tennessee, Washington and Wyoming are the other eight states. Per the financial website NerdWallet, New Hampshire taxes interest and dividends and Washington taxes selected capital gains.
Florida also offers homestead exemptions, which helps homeowners with annual property taxes. But check the Florida Department of Revenue website for occupancy and rental thresholds you may have to meet to remain eligible for a homestead exemption on a vacation home.
If you’d like to keep your current home, or establish another home base elsewhere, a vacation home could become a seasonal home. Live here during your favorite times of the year and rent it as investment income when you’re residing elsewhere.
Location is key
Perhaps the first question to ask is what kind of Florida vacation living you’d like to do.
If it’s attractions, consider being near Orlando’s world-famous lineup.
If it’s beaches, there are 825 miles of sandy Florida beaches to ponder, per the state’s Department of Environmental Protection.
If it’s peace and quiet and no rush-hour traffic, Florida is home to many charming small towns with ambiance and uniqueness all their own.
If it’s outdoor recreation, Florida is a outdoor-sports person’s dream. Think cycling, surfing, hiking, camping, fishing and boating, among other activities.
Weather is another factor. If you prefer a hint of fall and light jackets in cooler months, target north Florida. If you never want to wear another jacket, head south!
Always do your homework
No matter how you’d like to use a vacation home, you’ll want to locate it near your desired activities, services and quality-of-life perks, and in an area with sustained high property and resale values — particularly if your vacation home might become your permanent residence down the road.
ICI Homes has built versatile single-family homes, dream homes and low-to-no-maintenance townhomes all over Florida for more than four decades. Odds are we can help you find what you want where you want it!
Ready for your new custom Florida vacation home? Talk to ICI Homes here.
Buying or building a new custom Florida vacation home is a smart investment that can pay immediate and future dividends, and we’ll detail some of those below.
