Real Estate Investor Magazine South Africa July 2016 | Page 50

FLORIDA

Florida’s Home Flipping
In Florida, buying a home beats renting after about 2 years

I

t takes a little more than two years for buying
to beat renting in South Florida, a new report
shows. Buyers in the tricounty region will realize
the financial benefits of buying a home instead of
renting it in 2.4 years, according to real estate website
Zillow.com.
If you know you’re going to be in one place for 2 1/2 or
three years, it makes sense to buy a home. However,
buyers also must consider how easily they can qualify
for a mortgage and save for a down payment. What’s
more, finding an affordable home could be a challenge,
given the limited supply of available properties.

Tips on buying a foreclosed home