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Old 04-09-2015, 04:02 PM
 
2 posts, read 3,203 times
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My husband and I plan to move to Florida in a few years time but we would like to buy a property there now and rent it to prospective tenants until we relocate. We are looking for an area that we would like to live in but at the same time offers a good rental and resale market. Our top priorities are safety, good city amenities, attractive surroundings and value for money in the property we buy. We think good schools and an active job market will be a plus for attracting renters. We are thinking of Weston, Parkland or Boca? Any advice on which is the best city for us?
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Old 04-09-2015, 05:04 PM
 
Location: Gainesville, FL; formerly Weston, FL
3,283 posts, read 3,238,808 times
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All 3 are great cities, with Boca being the largest. There are those who have their favorite sections of Boca (east versus central versus south). You will get more for your money, generally speaking, in west Boca, which is really unincorporated Palm Beach County. I have friends that live in Boca (all sections) and they love it, and I also have friends that live in Parkland, and they are happy there too.

As for us, we have a home in Weston, have lived there more than 20 years, and love it. Due to my husband's job, we had to leave the area but rather than cutting our ties right away, we decided to rent our home -- 4/2.5 2700 square feet, with a pool, on slightly more than quarter of an acre. It rented in 5 days, at list price $3k. We got 3 offers, one from a business associate who learned of our move, a second from someone who saw the moving van parked in front of our house on moving day (he was visiting a friend who is a neighbor of ours) -- this person hadn't even seen the inside of the house -- and the third offer came in 5 days after the house was officially listed. So we have direct experience in Weston, and although we didn't buy our home with plans to rent it, we're happy with our experience.

Our realtor did a comparative analysis and had felt we were fairly priced at $3k a month. Her information also showed that over the past year, 4 bedroom detached SFH's in Weston didn't sit on the rental market long--about 2 months on average. Of course, this is now -- who can predict what the resale and rental market will look like in the future right? At any rate, hope this info is of some help and good luck to you!
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Old 04-09-2015, 06:07 PM
 
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Thanks for your reply. It was very helpful.
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Old 04-10-2015, 06:39 AM
 
Location: Palm Beach County
1,708 posts, read 4,407,678 times
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I'd agree with wiz all 3 are nice areas. Obviously Parkland and Weston are a little further from the beach and downtown areas if that's important at all.
2 months actually seems like a long time for a property to sit on the rental market. Most rentals fly off the shelf if they are priced well right now. It's often harder to find a rental than it is a purchase.
There are other areas that are very nice as well depending on what type of property you are looking for.
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Old 04-10-2015, 08:09 AM
 
Location: Gainesville, FL; formerly Weston, FL
3,283 posts, read 3,238,808 times
Reputation: 6652
Yes, our realtor showed us that the properties that moved quickly, in her opinion, were priced fairly and the ones that took several months generally rented for less than listing price. She had told us we would know in a week whether or not our price point was fair, and she nailed it. She also told us that the real estate market is like any other market, subject to fluctuations, so what looked like one pattern six or so months ago could be totally different now.
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