What to know about real estate in 2016

On Behalf of | Jun 16, 2016 | residential real estate

Florida residents who are thinking about purchasing a home or investing in residential rental properties may wish to know more about some of the trends expected for 2016. This can be important for avoiding inconvenient obstacles and planning one’s strategy well in advance.

One of the most important trends to keep an eye on is the use of technology to find real estate. Instead of relying on real estate agents to show them different properties in person, many people are using online sites to fulfill the same function. Some new online services even allow people to handle every aspect of a real estate transaction through the Internet.

In addition, many homeowners are choosing to remodel their existing homes rather than looking for new ones, and more and more millennials are looking for properties that will fulfill their long-term needs instead of trying to find starter homes. This could mean that less people are interested in moving than in previous years. That being said, it can still be relatively difficult to save for a financially acceptable down payment. Some major banks have begun rolling out assistance programs to assist people of lower income to find homes that meet their needs.

There are many potential issues that can arise in a residential property deal, and in many cases a home purchase represents the biggest financial transaction of a person’s life. Someone who would like to initiate a real estate venture could find it beneficial to meet with an attorney who can review the applicable documents and point out provisions that could be troublesome down the road.