Why Are More Canadians Retiring in Florida Than Anywhere Else? Orlando real estate has always been a popular place for Canadians buying vacation and retirement homes. There are a variety of reasons why retiring Canadians are choosing Florida more than any other location as the place to invest their money and call home. Weather The moderate temperatures of Florida make it an ideal location for people of any age. People from Canada often experience winter temperatures and snow for six months of the year or even more in their home land. Even at the best of times, these weather conditions can make life tough. The combination of advanced age and bad weather can be completely intolerable for some. Medical conditions such as arthritis can make frigid weather extremely painful for sufferers and shoveling snow can be a huge hassle for those who are elderly or who have heart conditions. Orlando real estate offers an escape from cold Canadian climates with beautiful sunny skies year round. Strong Canadian Dollar The Canadian dollar has been at par or even worth more than the United States dollar for many months. This means that Canadians have better purchasing power than in years past. In the past, the Canadian dollar was worth as little as $0.80 American or even less. An online trading and currency information website called OANDA notes that the Canadian dollar dipped as low as $0.778 USD in the first week of March 2009. In contrast, the Canadian dollar has not traded for less than $0.95 in the last two years. Retirees are able to purchase more with their money than ever before, meaning that Orlando real estate is more attractive than ever. House Prices in Florida The housing crisis in the United States has created an economic climate that makes purchasing real estate especially attractive for international buyers. Although the Florida market has been rapidly recovering, there are still a variety of opportunities to purchase Orlando real estate at incredibly low prices. Many people have found themselves to owe more money on their home than it is even worth and that it is impossible to keep up with mortgage payments. Banks often have dozens of homes that they are eager to sell – often at prices below their worth. Buyers can scoop up a deal by purchasing one of these homes at a reduced cost. Beautiful Scenery Florida is full of beautiful scenery that people around the world travel great distances to visit. From the huge expanses of beautiful beaches to the beauty of the Florida everglades, Florida truly has something for everyone. There are 1,200 miles of sandy beaches in Florida along its 1,800 miles of coastline. Florida also has more golf courses than any other state in the country – nearly 1,500 in total. The Sunshine State has approximately 1,000 new residents each and every single day of the year – including Canadian retirees who are interested in purchasing Orlando real estate. Florida’s Activities There are a huge range of activities for retirees residing in Florida. Some of the most popular include fishing with both saltwater and freshwater fishing locations, bird watching because of the huge number of species that can be found in the state depending on the time of year and of course, golfing. There are more than 50 different golf courses within 25 miles of Orlando’s city center making Orlando real estate particularly attractive for retirees who love the sport and being outdoors.
Florida is also home to many of the country’s biggest and most popular theme parks including Disney World, Universal Studios, Sea World, The Wizarding World of Harry Potter and Legoland. Owning a home in the area may inspire a retiree’s loved ones, especially grandchildren, to come and visit them more often. Retirees sometimes worry about relocating far away from their families but purchasing Orlando real estate often means that they’ll see family more often as they come to visit and vacation there. Investment Canadian retirees are often purchasing Orlando real estate partly as an investment. The collapse of the American housing market means that homes can be bought for a third of the price that they were just a few short years ago. Real estate is both complex and unpredictable so it is important to note that those looking to purchase property as an investment are taking a risk. However, with the right advice for tax implications, neighborhood and market conditions from trusted bankers and real estate agents, retirees may experience a huge increase in the value of the property purchased in the next 5 to 10 years. Retirees are in just the right circumstances for this sort of investment. They do not require the area where they are moving to have jobs for them. This means that they can easily live in an area with a higher unemployment rate without worrying about how that will affect their financial lifestyle. Florida’s jobless rate may keep people who are employed away from purchasing property and help to keep the prices of homes lower for retirees moving into the area from Canada. Friends Another reason why retirees from Canada may want to move to Florida is to be near their friends who have relocated to the area. With the increasing numbers of Canadians purchasing homes in Florida, comes increased people with friends and family who live there. Florida has always had a very strong and vibrant retired population. All of the reasons above have combined to make Florida even more attractive – especially for Canadians. Recent retirees simply may decide to purchase Orlando real estate because they’re following the crowd of neighbors, friends, former co-workers and family members who have decided to move State side. People have dreamed for years of retiring the beautiful and sunny state of Florida. The recent changes in the global economy have made now a particularly advantageous time to make the journey to purchase Orlando real estate for retired Canadians. Whether they are moving because of the gorgeous vistas offered by the state, the great prices or the sunny skies, Canadians are sure to find a beautiful new home where they can relax and enjoy life’s golden years.