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Panama City Beach was ranked as one of the best places to live in Florida in 2007. Furthermore, it was rated as one of Top 10 cities in which to invest in real estate and projected a 72 percent in return on investment. Panama City is poised to host a new airport, big airliners, more visitors - and a lot more buyers.
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4 Reasons to Own a Condo in Panama City Beach
If you’re thinking about buying a condo on the beach, Panama City Beach, Florida should be at the top of your list. At CondoSales.com, we don’t say that lightly, we back it up with cold hard facts.
Following are four reasons to own a condo in Panama City Beach, Florida.
1. Second Homes: According to U.S. Census Bureau, Baby Boomers are the largest generation in history. Did you know that there are over 77 million of them in the U.S.? As of 2000, they made up 29 percent of the U.S. population.
This is one of the first generations to retire with record wealth. Another astounding fact: baby boomers control about 50% of wealth in the U.S. This means lots of discretionary income.
What are money-smart baby boomers doing with their hard earned dollars? Investing it ? in second homes on the beach. Statistics from the National Association of Realtors show that Baby Boomers, and in particular those with above-average incomes, are the primary buyers of second homes.
Why It Makes Sense for Baby Boomers to Own a Beach Condo in Panama City
Second homes are appealing to Baby Boomers for many reasons, among them: (i) portfolio diversification; and (ii) retirement income.
As for portfolio diversification, Florida is a tax-friendly state that has seen explosive growth. Purchasing real estate here is a sound investment because of the rental income and the lifestyle it offers, both discussed below.
2. Worry-Free Rental Income: One of the reasons many purchase second homes is for the rental income in their golden years. This can supplement pensions and social security, or your income while you’re still working.
Owning a beach condo is Panama City Beach is particularly attractive for retirees and/or those who may not live in a tropical climate. For retirees it’s an excellent way to continue to enjoy a lifestyle you’ve become accustomed to – without actually working.
For those who are still a part of the workforce and/or who don’t live near the beach, it is a relatively easy way to build wealth during your working years because a condo on the beach in a thriving city like Panama City Beach is easy to rent out.
And, all of the details can be handled worry free via a management company. This leaves beach condo owners free to travel or pursue other interests.
4. Beach Condo Lifestyle: What Panama City Beach Offers. What do beach condo owners want? What any one who is looking to buy a beach condo wants: luxury, convenience, culture and an active lifestyle. When you purchase a condo in Panama City Beach, you get all of this and more.
Panama City Beach, Florida is the perfect community to live or vacation in. With an average year-round temperature of 72 degrees and 320 days of sun, it’s an enchanting climate where you can be active all year round.
Entertainment, Shopping and More in Panama City Beach
Pier Park: Centrally located Pier Park has been billed as an entertainment/shopping complex. With over 900,000 square feet, it offers everything from charming coffee and ice cream shops to nail salons, clothing stores and upscale restaurants. Whether you want to go shopping with your girlfriends, have a romantic dinner with your significant other or enjoy a family outing, you’ll find it all at Pier Park.
Parks Everywhere: Panama City also offers a plethora of parks: water parks, theme parks and state parks. Then, there’s the active outdoor lifestyle that’s encouraged on every corner by world-renown golfing greens, sailing, fishing, swimming, biking and too many more outside activities to offer.
4. Achieve Your Beach Condo Dreams: This is perhaps the best reason of all to buy a beach condo in Panama City Beach – your beach condo dreams.
A condo on the beach means waking to the lilting sounds of the sea, sleeping to the lullaby of the waves and enjoying a tranquil day-to-day existence. And you can’t put a price on that.