Should I Invest in Boca Raton Real Estate in 2021?

If you’ve been thinking about investing in Boca Raton real estate, you shouldn’t hesitate much longer. This is an incredibly hot market, and you’ll want to get in as soon as possible. Whether you’re buying your first rental home, thinking about a future retirement home, or you want to add great properties to a growing portfolio - Boca Raton is the place to be in 2021. 

Let us show you why.

Demand is High and Supply is Low

The word is out when it comes to the opportunities available in Boca Raton. According to the latest Florida Realtors® report, South Palm Beach County inventory in the first months of 2021 is down 51 percent from 2020. The median sales price is up 20 percent. The number of homes sold is also up 17 percent from 2020. 

The market is moving, and if you’re looking for a property that will make a great rental investment, get in there now. There are still some great homes available, but you have to act quickly and be prepared to make an offer as soon as you know it’s right for your portfolio. Days on market have decreased and people are flocking to Florida, creating a competitive market among buyers.

Interest Rates are Low

Borrowing is advantageous right now as well. Interest rates on mortgages are astonishingly low, and they’re likely to remain low throughout 2021. Mortgage interest rates climbed a bit in February, but remain below their levels a year ago. Interest rates may rise a bit further into the spring months, but not in such a way that affordability will be difficult. When it comes to leveraging your asset, you’re in a good position as a buyer. Don’t let this unique opportunity to finance a great rental property pass you by. 

Boca Raton Tenant Pool is Stable

Another good reason to invest here is that you have access to some high quality tenants who are willing to pay top rental values for a good home that’s well-maintained and in a desirable neighborhood. We have a strong supply of long-term renters who are looking for a variety of homes. Some of our renters like the freedom and the privacy that come with single-family homes in established neighborhoods and others prefer a low-maintenance condo rental close to the beach with a lot of amenities. Investors can take advantage of the diversity this market provides in both properties and tenants. 

Demographically, the trends are working in our favor. We have a large number of active adult renters who are at or nearing retirement age as well. These are financially stable tenants who care about the properties they live in. 

Short and Long Term Rentals Make Sense 

Not every market is friendly to both long-term investments and short-term vacation properties. Boca Raton is one of those markets, however. Here, you can do a traditional investment where you’ll look for long-term tenants willing to sign a lease for a year or more. You can also go the short-term rental route, which allows you to earn more money on a per-night basis and still keep the property free in case you’d like to use it yourself.