Tampa Real Estate Market; Better to Own Than to Rent

The Tampa real estate market has opportunities now that have not been available before.  Homes can be purchased at a much lower price than the value a year ago.  The standard median for home prices in Tampa is down substantially!  The home buyer can expect to pay, on average, about $50,000 less for a home today than a year ago.  There are opportunities in the entire Tampa area to purchase a home for much less than its original value.  The same applies to condominiums.  There are opportunities to obtain a condominium for a cut-rate price or with an amenity package.  Many buildings have a pool and workout center.  Normally, these costs are applied to the HOA fees.  Deals are being offered where the buyer is HOA-free for up to a year or even more.  This can amount to a generous savings.

Renting a home or a condominium is giving money to someone else’s mortgage.  With mortgage rates at an all time low, it only makes sense to purchase a Tampa condo or home rather than rent one.  The price that is paid per month for a mortgage will equal nearly the same as the amount paid for rent.  Florida has no state income tax and the price of property tax is low, which makes the argument to own rather than rent even more substantial. 

A prime example of the affordability is a condo in Riverview at the Villages of Bloomingdale.  Riverview offers close proximity to I-75, which means a commute or a jaunt to the beach is just minutes away.  The condo is located within a gated community, offering security to the resident.  There is a clubhouse that offers residents a place to entertain guests, along with a fitness center.  Residents can also enjoy access to a community pool and over 35 acres of wildlife conservation and ponds.  The condo itself has three bedrooms and two baths.  The price of the condo is only $95,000.  This can easily break down to less than or the same as the price of rent.

With so many opportunities to purchase condominiums and homes in the Tampa real estate market for such low prices, it only makes sense to buy, rather than rent.  With so much to offer, Tampa is a prime area to make a purchase for any-sized family.

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