Lately there has been an increase in people moving to Florida with a budget of one million $ + and we wanted to take the opportunity to address what kind of home this budget gets you when you move to Florida. There are many luxury homes in Florida for $1 mil+ ranging into the 5 million plus and even homes 10, 15, and 20 million plus. For this episode we are sticking to homes around one million up to around $1.5 million dollars.
The first thing that's important to note is that we have seen an increase in cash buyers amongst million dollar plus home purchases. It looks to be around 60% of homes that sold for $1 million plus sold in cash.
As far as the homes themselves, a common theme is that the homes over $1 million tend to be a bit larger with most of them coming in over 3,000 square feet and many of them even over 4,000 or 5,000 square feet. One exception we note to this is waterfront homes. Lakefront homes are common in the Orlando area with many of those homes being built in the 1960s to 80s. These homes tend to be a bit smaller, often only around 2,000 square feet but can still command a one million dollar plus price tag especially if they're renovated.
Another commonality we see is larger lots, especially among the estate style homes. Lot size does tend to decrease as you get closer to city centers, especially in HOA communities. In Orange County FL, homes over one million dollars especially in the $1.4 and $1.5 million range will almost always have a pool often with a water view as well.
Million dollar condo's aren't as common in the Orlando area but there are a select few in high rises in downtown Orlando. Million dollar plus condos are much more common in the coastal areas of Florida and we will be covering those in future episodes.
We also discussed several specific properties in this episode which are actively on market so be sure to listen in to get some details on those properties. During that discussion, several terms came up which might be unique to Florida homes and/or million dollar plus homes such as pool bath, tandem garage, wet bar, etc.
First, we discussed Mohit's new Winter Garden listing coming in at $1,400,000.
Up next was this nearly 5,000 square feet 5 bedroom pool house on 1 acre in Orlando proper. This home has double front doors, 14' ceilings, an open floorplan, formal living room, formal dining room, large office, upper and lower cabinet lighting, many rooms with built-in shelving, a fireplace, coffered ceilings, and many more luxury features.
From there we went to this 1970s built beautiful Windermere home. This home says retro from the front but features many beautiful live oaks in the front yard. The interior has been totally renovated in a farmhouse style and is catching a lot of eyes! The home is located on a huge 1.4 acre lot and the backyard features a pool with birdcage and huge pergola with lighting. Windermere is a very upscale suburb of Orlando.
Finally we hopped over to Palmetto Florida, south of Tampa Bay to quickly discuss this luxury home in a boating community which includes a deeded dock for your boat with access to the Gulf of Mexico.
If you would like to connect with us or if you need a realtor in Florida, you can reach us on our Moving to Florida Show Hotline by dropping a voicemail or text to 407-900-5859.
Here is a comprehensive list of luxury million dollar Florida homes.