Key Largo Real Estate: Your Guide to Buying a Waterfront Home
Key West is consistently voted as one of the best places to visit in Florida and if you've been to Key Largo you'll probably agree. What if you wanted to take it to the next level though?
Buying property in Key Largo is an excellent investment, especially if you're looking to rent it out to some of the million or more vacationers that flock here every year.
However, the main reason most people want to invest in Key Largo real estate is to lap up the wonderful Florida Keys lifestyle themselves.
The Florida Keys Lifestyle
The Florida Keys offer a laid back style of seaside living that's a huge drawcard for those wanting an active lifestyle with easy access to ocean attractions. It's also the perfect place to spend your days sipping on something cool in the shade of a palm tree if that's what you prefer.
Key Largo is the northernmost key in the chain of coral islands that make up the Florida Keys. At 32 miles long, it's also the largest.
Apart from the occasional tropical storm, residents of Key Largo experience mild weather year-round. The city offers relaxed island-style living combined with easy access to the mainland if needed.
There's no shortage of stunning scenery, gorgeous properties, and fantastic attractions to enjoy in Key Largo either. These are some of the best things to do in Key Largo:
Diving and Snorkeling
Key Largo is the self-proclaimed diving capital of the world, with many wonderful underwater attractions to discover. It's home to the world's largest artificial reef and the country's first underwater State Park, namely the John Pennekamp Coral Reef State Park.
Reef and wreck dives are abundant and the marine life and corals will fascinate nature lovers.
Water Sports
The ocean offers an abundance of high-adrenalin activities such as kite-boarding, jet-skiing, parasailing, surfing, and more.
If you prefer something a little more laid-back you can fill your days with kayaking and paddleboarding in these cool turquoise waters.
Land-Based Activities
Apart from the ocean, Key Largo and neighboring Islamorada offer a wealth of eco-tours into the Everglades and boast four state parks between them. Here you can explore the lie of the land both onshore and off.
Shopping and Dining
You'll find no shortage of excellent seaside restaurants and quaint shops to keep you busy either. Key Largo offers an abundance of fresh seafood delicacies and is world-famous for its key lime pie.
Family Friendly Pursuits
You'll find plenty to enthrall all ages in this part of the world. Some of the top hits for families include:
Glass-bottom boat tours
Florida Keys History and Discovery Center
The Overseas Heritage Trail
It’s not only the tropical ambiance and laid-back lifestyle that makes the Florida Keys unique. The real estate market in this sought-after locale is totally different from that in the rest of the country too.
Unique Aspects of Buying Real Estate in the Florida Keys
The real estate market is eternally stable. It’s an environment dominated by high demand and low supply. Limited growth is legally-enshrined in Key Largo.
So, while you could buy a wonderful piece of land here, you may feel a little overwhelmed by the legalities of what you can do with it. That's why most buyers prefer looking at houses for sale in Key Largo instead.
There’s never a bad time to invest in Florida Keys real estate. The market rarely fluctuates, regardless of what’s going on in the rest of the country. Property values constantly remain strong and homes move quickly in this part of the world.
Perfect weather, easy access to the ocean, and high quality of life mean there’s a huge demand for homes in this little piece of paradise. High prices are the norm, with an average sale price in the region of $580,000.
Property Taxes in Florida
The tax situation in Florida is another driver behind the high demand for Key Largo real estate.
Florida residents can take advantage of low property tax assessments by applying for homestead exemption. This means you can pay up to $50 000 less on property taxes as long as you live in a house for a portion of the year.
You don’t pay any income tax in the Sunshine State either. So, although you may pay a little more for a luxurious home in Key Largo, you’ll benefit financially in the long run.
This constant demand coupled with limited supply is what sets the Florida Keys real estate market in a league of its own. If you want to negotiate this minefield of high demand and low supply successfully, you need the services of an experienced local realtor.
Working with a Local Key Largo Real Estate Expert
If you're looking to buy your dream home in beautiful Key Largo, it pays to get an expert on your side.
There are several benefits to working with a local realtor during your search, including:
Ethical Practices
All real estate agents are bound by a strict code of ethics. That means they won’t rip you off and you can count on professional and ethical treatment at every stage of the home-buying process.
Fiduciary Responsibility
A Key Largo real estate professional always has your best financial interests at heart, whether you’re buying or selling a house. They’re contractually bound to protect your interests and they have the experience to do this.
Local Laws and Regulations
When you're moving from another state, Key Largo's complicated property laws are challenging. Laws and regulations vary widely from county to county in the US, and they’re probably a lot different from when you bought your last house.
It’s a realtor's job to know exactly what’s going in their realm at all times.
A local real estate expert is up to date with the ever-changing and sometimes complex real estate regulations. They'll help you negotiate the intricacies of the unique Key Largo market. Their knowledge of local laws, regulations, and contracts will help to smooth your journey towards owning the ideal home in the Florida Keys.
Your Property Search
Browsing for property online is an efficient way to start your property search, but when it comes to time to buy, you’ll need a real estate agent by your side.
They know all the pros and cons of every property on their books and can fill you in on some of the details that might not be apparent during an online search. Good or bad, this information can have a significant impact on which home you eventually buy.
Local real estate agents are also up to speed with what kind of building materials hold up well in the Key Largo climate. In this way, they can caution you about things like plumbing pipes that are prone to bursting, or roofing materials that aren’t suited to the local climate.
When you view homes online or in person, it’s easy to let luxury finishes and a stunning location dictate your choices. A real estate agent can help you make an informed purchase decision instead of an emotional one.
Online home prices are often way off the mark too. A real estate agent has a realistic, informed view of local property values. They can help ensure that both the buyer and seller get a fair price for their transaction.
If you're searching for Key Largo homes for sale, waterfront properties are probably at the top of your wish list. A local real estate agent will know where you can get the best value for your money if you're searching for these high-demand premium homes for sale in Key Largo.
When you finally decide on a property, a local real estate agent will help you through the sometimes tedious negotiating process by bringing an objective opinion to the conversation.
They’re also a great help when it comes to digesting the contents of lengthy and complex contracts.
Key Largo's Top Performing Real Estate Marketplace
We have an excellent selection of Key Largo homes for sale in the best locations.
Get in touch with an expert Key Largo realtor to discuss your Key Largo real estate needs and move one step closer toward owning your perfect waterfront home.