Destin is one of the top destinations in Florida. It is known for its beaches, golf courses, and parks. As a popular tourist destination, beach condos in Destin, FL, can be a great investment.
This post will cover five reasons why condos in Destin are good for building wealth.
Emerald Coast Real Estate Market Watch
As of August 2023, the median sale price of a home in Destin was $530,000. However, real estate trends are always changing. If you need to buy or sell a home anywhere on Florida’s Emerald Coast, click here to contact us.
Destin is known for its sand, sea, and sun. Even beyond the beach, there is so much to love about this location. You can try the biggest water park on the Emerald Coast, the Big Kahuna’s Water and Adventure Park. Tourists can also check out the Destin History and Fishing Museum. For family and friends, Track Family Recreation Center promises wholesome fun for everyone. Destin is always teeming with tourists, so the market for vacation rentals is strong.
Crime and safety can indicate whether a property is a good investment. Destin’s property crime rate is lower compared to the national average. It means investors won’t have to worry as much about their property. Less crime also makes it more attractive to tourists.
Amenities are one way of attracting tourists to a beach destination. Destin offers access to gyms, private pools, and other services. You also have great shopping and dining. Good amenities will make your condo more marketable to renters.
Property taxes in Destin are also affordable. The average property tax in Destin is 0.80%, which is lower than the national average. It means you can keep more of the profits from renting the condo out.
Here in Destin, the average length of stay during the high season is four days, with a daily average rate of $318. On the other hand, during low season, the average length of stay is three days with a $190 daily rate. With these numbers, you can expect steady cash flow. Both in high and low seasons, you can expect that rental income is stable and promising.
Overall, Destin is an excellent choice for investing. Between income and property appreciation, it can be a way to build wealth over time.
Are you looking for your home in Destin? Click here to contact our team. We are real estate experts who know the Emerald Coast. Reach out now to see how we can help.
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