Since I love real estate, this is one of my favorite topics while choosing a TV program to watch. I enjoy series about remodeling homes, interior design, and those where the hosts help buyers find their dream home. Something that I have found incredible, however, are the exaggerated high prices in some places/states of the country (US); understanding that such prices are led by the market trends (supply and demand), in many cases I do not see the reasons for the exorbitant prices and the willingness of buyers to pay that much.

Today I decided to analyze the possible reasons for which those properties are so expensive. I understand that some areas have certain industries where the salaries are high and there are more job opportunities for those who have the skills and/or degrees that allow them to find a well-paid job. Assuming that such jobs cannot be performed remotely (at least not for now), a proper lifestyle evaluation would need to take in count that, although they earn good salaries, they spend them at the same pace while paying for expensive housing (either when buying or renting), higher taxes of all kinds, and higher cost of living in general. And, besides the possible financial stress that this may cause, many times, they also must sacrifice quality of life in terms of difficult weather to deal with (e.g., cold winters with heavy snow), heavy traffic, crowded streets and stores, and a little variety of recreational options, such as beaches, lakes, rivers, parks, golf courses to enjoy, etc. 

Other residents in those same areas who are not qualified enough for the highly-paid jobs still face expensive housing and high cost of living, although they have modest incomes, for which the financial stress is higher and the opportunity to accessing to recreational activities becomes even more limited. In my perspective, I do not understand why they persist to stay there instead of relocating to other areas in the country that are less expensive, the lifestyle may be better, and where they can get much more for their money.

Let’s say a family  owns a home in an expensive state that in the current market is worth at least $600,000 (which in some places is just a small apartment or a single-family home of 1,600 sq/ft or less). If it is already paid off, there are pretty good chances of improving their lifestyle  by simply selling it and moving to another state where the house prices and cost of living are much lower. Even if the house is not paid off, yet, but the equity on it is at least 60%, there are great chances to be able to sell it and find a similar or better property to buy for half the price in another state (sometimes new construction), pay it in cash, ending up with no mortgage to pay, and still have money left in their pocket. And for those homeowners whose equity on their homes is less than 60%, selling it and moving to a less expensive area where to find a similar home for half the price and have a much lower mortgage payment may be a great option, as well.

Besides finding lower home prices, by choosing the right area to move to, any of the hypothetical homeowners above may find better life conditions, such as less extreme weather, a wide variety of indoor and outdoor places for fun activities the entire year, less traffic, and many interesting places to visit, plus a lower cost of living. To me, this is a NO-BRAINER or, may I say, THE REAL DEAL?

Although this may be an option for everyone, it may be especially ideal for a) People who can work from home either in a regular company (which is becoming more common since the Covid-19 era) or in their own business, or trade the financial markets; b) Retirees or soon-to-retire; c) Those in the F.I.R.E. (Financial Independence, Retire Early) movement; and d) Those who want to start a new life in a place where they will have less financial stress, but still many opportunities to enjoy their free time.

So, are you GETTING THE BEST IN LIFE FOR YOUR MONEY WHERE YOU RESIDE? Or, is now the right time to seriously think about moving… on?

Now, let’s talk possibilities. How about a place with:             Opportunities

                                                                                               City-Country-mix lifestyle

                                                                            Adventures for everyone

                                                                            Location

                                                                            Affordable

If you would like to know more about an amazing place like this, visit YouDeserveOcala.com

*Note: This article is not meant to be financial advice, but a way to opening possibilities of homeowners who may benefit from selling their properties and relocating to a less expensive area/state. Therefore, while considering such decision, make your numbers, think about all the aspects involved in relocating (such as leaving relatives and friends, finding new jobs, changing environment, changing schools, etc.), and seek for financial advice, when needed.

              Diego Bravo:   Real Estate Sales Associate of PROFESSIONAL REALTY OF OCALA

(352) 266-2782

                                           2801 SW College Rd Suite#10, Ocala, FL 34474