These are Florida’s 5 worst areas to buy a house according to real estate expert

With its miles of coastline running parallel to both the Atlantic and Gulf of Mexico, Florida is a popular destination for over 140 million travelers each year, with many choosing to make Florida their permanent home.

However, Yawar Charlie, a senior real estate agent and director of the estates sector of the Aaron Kirman Group, advises prospective purchasers to exercise caution despite the area’s pleasant temperature, plenty of activities, and lack of a state income tax.

Charlie said to Go Banking Rates, “Not every sunny spot in the Sunshine State is a wise investment when it comes to real estate.”

Charlie, who is a cast member of “Listing Impossible” on CNBC, highlights that real estate investing involves more than just sun and palm trees. Examining environmental hazards, growth potential, and economic stability is essential.

He suggests that people think about the financial outlook before letting Florida’s warm weather entice them. “Identifying the real gems in the market will require strategic thinking and thorough knowledge,” he stated.

Charlie is based in Los Angeles and has a wide clientele that includes people in Florida and California, giving him a comprehensive understanding of both real estate markets. He listed five Florida towns where he suggests delaying real estate purchases for the ensuing five years.

Beach Miami

Charlie suggests avoiding purchasing real estate in Miami Beach, despite the area’s reputation for having beautiful beaches, a bustling nightlife, and top-notch dining.

He stated, “Yeah, Miami Beach is glamorous, but there are serious risks associated with rising sea levels and an increase in hurricane frequency.”

“The possibility of long-term value degradation is real, and property insurance costs are skyrocketing. It’s comparable to purchasing an exquisite seaside house that has a ticking time bomb in the lower level.

Daytona Beach

Although Daytona Beach, with its 23 miles of beautiful sand beaches and reasonable prices, might appear appealing, Charlie advises against making investments there.

He remarked, “Daytona Beach struggles with economic stagnation and high crime rates, despite its fame for its speedway.”

One in every 28 persons is at risk of falling victim to a violent or property crime, per Neighborhood Scout.

“The real estate market has been slow, and property values are likely to stay stagnant in the absence of significant economic growth. You can feel like you’re caught in the pit stop if you invest here.

Fort Myers

Fort Myers, a popular retirement community, is not without its difficulties.

Charlie stated, “Fort Myers has problems with overdevelopment and environmental concerns, particularly regarding water quality, despite its appeal to retirees.”

The long-term growth prospects of the housing market remain dubious, given its recent volatility. It’s comparable to purchasing a fancy car that might soon run out of gas.

Pensacola

The charming white sand and turquoise beaches of Pensacola are alluring, but Charlie suggests exercising caution.

“The housing market is impacted by the economic challenges and limited job growth this city has experienced,” he stated.

“Low new development projects and high crime rates make it less appealing to investors.”

According to Neighborhood Scout, Pensacola has 86% more crime than other cities in the state, with one in every 33 residents potentially becoming a victim of a violent or property crime.

Charlie remarked, “Investing here might feel like trying to catch a wave in a kiddie pool.”

Ocala

Although Ocala is renowned for being a beautiful, tidy, and affordable place to live, there are risks involved.

According to Neighborhood Scout, “Ocala has one of the highest crime rates in America compared to all communities of all sizes.”

“Ocala’s real estate market is hindered by slow economic growth and limited amenities, despite its affordability,” Charlie continued. The region depends mostly on agriculture, which can be unstable.

It’s a peaceful community, but the peace could be sacrificed for the expansion of your investment. Consider it like investing your money with no assurance of future gains in a time capsule.