New Construction Loans in Florida
Building a property in Florida is a bold choice.
It’s no secret that the state has some of the most competitive housing prices in the US. Florida’s real estate market can be challenging to navigate, especially without any financial support. And developing a property instead of buying one can be even tougher. Luckily, you can always apply for a new construction loan!
Read more about how new construction loans in Florida can help you bring your ideal property to life.
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Achieve Financial Freedom with a New Construction Loan in Florida
There are multiple complicated stages involved in any construction project. When building a property from scratch, you should have enough funds to finance every aspect of it.
Buying land is often the first step. Unless you have been saving for many years, you will likely struggle to put down a hefty investment in a property right away. However, this is no longer a problem with a new construction loan. Private money lenders like Insula Capital Group will allow you to withdraw funds for each stage of your project as it starts, including land acquisition! Get in touch with us for more details about our new construction loans in Florida.
Go through our FAQs to learn more about our new construction loans in Florida.
How to Get a New Construction Loan from Insula Capital Group
The team of loan advisors and underwriters at Insula Capital Group has been in this business for over three decades. We have the expertise required to handle your unique financing case.
Whether you want to use the funds to hire skilled contractors or acquire quality materials, our new construction loan can be handy. During our consultation, we will review all the important aspects of the loan-securing process with you. This will help us create a specialized contract for you.
Key Statistics and Forecasts for Florida’s Housing Market
Florida’s housing market is shaping up to be a dynamic environment, marked by positive trends and a promising outlook for both buyers and sellers. The state’s robust real estate landscape is influenced by its diverse economy, attractive lifestyle, and the appeal of its cities and towns.
Critical Statistics to Consider:
- Median Sales Price: The median sales price for single-family existing homes in Florida reached $413,000, a 3.3% increase from the previous year. For condo-townhouse units, the median price was $330,000, marking a 7.5% increase year-over-year.
- Inventory Expansion: The inventory for single-family homes and condo-townhouse units saw significant increases, with 13.9% and 49.8% rises, respectively. This surge provides more options for prospective homebuyers.
- New Listings: There’s been an uptick in new listings, with single-family home listings increasing by 15.3% and townhouse and condo listings by 25.9%, contributing to the growth in inventory levels across the state.
Market Outlook and Trends:
- Statewide Home Value: As of the end of 2023, the average home value in Florida stands at $389,325, reflecting a 2.0% increase over the past year.
- Sale-to-List Ratio: The median sale-to-list ratio in Florida is 0.977, indicating a competitive market.
- Sales Over and Under List Price: In November 2023, 14.5% of sales exceeded the list price, while 67.9% sold below it, suggesting a mix of competitive and negotiable market conditions.
- Market Forecast: The market is expected to grow, with a projected modest but positive growth of +0.7%. The inventory levels for single-family homes have a 3.7-month supply, showing a 32.1% increase year-over-year, and condo-townhouse units have a 5-month supply, up by 85.2% from the previous year.
Regional Highlights:
Areas of Significant Growth: Certain areas in Florida are anticipated to experience significant home price increases in 2024, with cities like Clewiston and Wauchula leading the way in projected growth.
The Real Estate Landscape In Florida
21.78 million
Population
$409,243
Median Rent Price
(Single-Family Home)
$387K
Median Home Sold Price
13.07%
1-Year Appreciation Rate
$67,917
Median Household Income
32,615
New Listings
Just Funded Projects
June 2022
Fix & Flip
- Weiser, ID
Purchase Price
170,000
Renovation Budget
59,000
Loan Amount
207,000
After Repair Value
309,000
July 2022
Fix & Flip
- Washington, DC
Purchase Price
255,000
Renovation Budget
80,000
Loan Amount
296,750
After Repair Value
450,000
December 2021
Fix & Flip
- Centerreach, NY
Purchase Price
340,000
Renovation Budget
46,050
Loan Amount
321,300
After Repair Value
459,000
November 2021
Fix & Flip
- Hartford, CT
Purchase Price
149,000
Renovation Budget
70,000
Loan Amount
196,650
After Repair Value
290,000
November 2021
Fix & Flip
- Philidelphia, PA
Purchase Price
130,000
Renovation Budget
105,300
Loan Amount
209,300
After Repair Value
335,000
November 2021
Fix & Flip
- Philidelphia, PA
Purchase Price
62,000
Renovation Budget
60,000
Loan Amount
106,500
After Repair Value
176,000
November 2021
Fix & Flip
- North Babylon, NY
Purchase Price
310,000
Renovation Budget
32,750
Loan Amount
311,750
After Repair Value
495,000
November 2021
Fix & Flip
- East Hampton, NY
Purchase Price
1,250,000
Renovation Budget
577,465
Loan Amount
1,577,465
After Repair Value
2,487,500
November 2021
Fix & Flip
- Jersey City, NJ
Purchase Price
525,000
Renovation Budget
240,650
Loan Amount
848,800
After Repair Value
831,000
What we offer
All Loan Services
Single-family Rental Loans
Single-family Rental Loans
Hard Money Lenders
Hard Money Lenders
Development Loans
Development Loans
Commercial Property Loans
Commercial Property Loans
Commercial & Residential Land Loans
Commercial & Residential Land Loans
Bridge Loans
Bridge Loans
Cash-Out Refinance Loans
Cash-Out Refinance Loans
Rental Property Loans
Rental Property Loans
Investment Property Loans
Investment Property Loans
New Construction Loans
New Construction Loans
Fix And Flip Loans
Fix And Flip Loans
Multifamily Bridge Loans
Multifamily Bridge Loans
New Construction
New Construction
Thousands of Clients Trust Our Company
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Why Invest in Florida’sReal Estate Market?
Florida’s real estate market is a beacon of opportunity, melding affordability, economic vigor, and an exceptional quality of life. This combination positions the Sunshine State as an alluring destination for investors and families alike.
Economic Diversity and Job Growth:
Florida’s economy is robust and multifaceted, driven by industries like tourism, agriculture, and aerospace. This diversity fosters a resilient job market, attracting professionals from various sectors. Such economic strength translates into a rising demand for both residential and commercial real estate, supporting an upward trajectory in property values.
Favorable Business Environment:
The state’s business-friendly climate, marked by advantageous tax policies and incentives, enhances the appeal for investors. Florida’s commitment to fostering a conducive environment for business growth significantly contributes to the attractiveness of its real estate market.
Educational Excellence and Infrastructure Development:
Florida’s investment in education and infrastructure, including top-tier universities and a well-developed transportation network, lays the groundwork for sustainable growth in the property sector. This focus on foundational development ensures long-term benefits for real estate investments.
Diverse Living Options:
Florida offers a spectrum of living experiences, from the vibrant urban life in cities like Miami and Orlando to the tranquil coastal retreats in the Keys. Each area in Florida has its unique charm, catering to various lifestyles and preferences. Urban centers like Tampa and Jacksonville are known for their dynamic growth, while areas like Naples and Sarasota attract those seeking a blend of luxury and tranquility.
Strategic Positioning:
Florida’s strategic location, serving as a gateway to both the domestic and international markets, especially Latin America, adds to its investment appeal. The state’s ports and airports facilitate global trade and tourism, further boosting the real estate sector.
Tourism and Lifestyle:
The state’s renowned tourism industry, bolstered by world-famous attractions, beautiful beaches, and year-round sunshine, drives a consistent influx of visitors and new residents. This continuous flow contributes to a robust demand in the housing market, particularly in areas known for vacation rentals and second homes.
Long-Term Investment Potential:
Investing in Florida’s real estate is not merely about acquiring property but tapping into a growing and diversifying region. The state’s economic resilience, combined with its lifestyle appeal and ongoing development, presents a compelling case for both immediate gains and long-term property appreciation.
With its blend of economic stability, growth potential, and diverse living options, Florida’s real estate market offers an attractive landscape for investors seeking both short-term profits and long-term asset growth.
Ready to apply for a New Construction loan?
Frequently Asked Questions
Our new construction loan in Florida carries a term of 1 year.
No. We also offer construction loans for multifamily, mixed-use and residential rental properties, and fix & flip financing.
You can contact us or apply via the application forms on our website.
Get in Touch with Your Reliable Lenders Today!
If you’re ready to consult with us, give us a call! Our operating hours are from 9 am to 5 pm on every business day. If you want to go through our portfolio, there are details about our recently-funded projects on our website!
Don’t hesitate to reach out for personalized advice tailored to your financial needs. Our team is dedicated to providing you with the insights and support you require for your real estate ventures.
Remember, your investment journey is just one call away, and we’re here to guide you every step of the way!
