New construction in Ocala. Fl

[Shannon D.]

My husband and I are thinking about buying a new construction in Ocala. We have a few questions as we are not from the area: 1. Are Marion Oaks and Silver Springs good areas to invest? 2. What are the pros and cons of each? 3. Is well-septic a disadvantage for a property in Florida making it less desirable to rent/re-sell? What is the average appreciation in Ocala and how does this compare to other parts of Florida such as Nort-Port or Cape Coral? Thanks a lot in advance. Shabii

[Clay Lehman]

Good morning.  I am a realtor and property investor in Ocala.  Marion Oaks and Silver Springs Shores are good areas for rentals.  Here is a blog post we recently did on the Marion Oaks area.  As you will see in the article, there have been a number of distribution centers built in the Ocala area in the last few years that are bringing thousands of jobs to the area and fueling the housing shortage here.  I would be happy to connect further if you like.  I will private message you.  To answer your other questions more directly, the pros to the 2 areas are that the home prices are lower than our median price in ocala (around $145ish to around $160ish vs median of $180) and the rents are high enough to produce a solid yield ($1,200 to $1500).  The cons for both areas are the are higher renter populations and that can dampen appreciation.  Well and septic are super common here, no drawback to having well and septic from a value standpoint.  We recommend that our owners pump the septic every couple of tenants.  But no negatives to well and septic.  In terms of appreciation, I look at Marion County like this.  When you buy your house, it is better to buy the least expensive house you can buy in the nicest neighborhood.  Marion County has one of the lowest median prices in Florida.  It is also in a great spot between Tampa, Orlando and Jacksonville.  I hope this info is helpful.

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