Moving to Broward County next year

[Shaun Ng]

Hello BP community,

My job may be taking me to Broward County, Florida next year or two.

Typically, I like to purchase rather than rent, and take advantage of lower mortgage rates that come with owning your primary residence. And then rent it out once I know the area better and know what kind of house we want.

With that in mind, we may want to purchase something at a lower price point but have good consistent long term rental demand, when we move out.

Given I’m not familiar with the area, I’m wondering:

a) pros and cons of purchasing a condo vs SFH

b) any particular area in Broward that anybody would recommend?

c) any shortcomings that I should be aware of with this strategy (purchase first and then rent it out after say 1 year?)

Thank you all!

[David Collier Jr]

Grew up and still live in the area. Home prices have increased significantly but the strong rental demand has appreciated rents as well. It's a big area so many places you should and should not consider. Generally if you are East of I-95 you'll want to be east of dixie hwy. That changes in some areas closer to downtown fort Lauderdale. 

In regards to condo they are a dime a dozen but there is demand. Just so many new construction condos the older buildings are having to compete with. Also of course HOA to consider if you plan to rent your unit eventually. If you go condo, stay away from Fort Lauderdale beach. It's gone way down hill. Downtown area is growing rapidly (Broward Blvd and US1).