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Although you know you eventually want to move to Florida, relocating might not be in the cards for you yet. Maybe you still have ties your community that you are not ready to break. Or, maybe you or your spouse is still working in order to build up your retirement savings or get fully vested in your pension plan. These are certainly valid reasons to delay your Florida relocating.

But if you have the financial ability to do so, you could follow a relatively popular trend amongst Baby Boomers – buying a second home in the place you would like to eventually retire. Then you can slowly make the transition of spending more and more time there until you are ready to make the move.

However, don’t wait too long to make your decision. Right now is an incredible time to buy a vacation home in Florida for several reasons. First, the real estate market has seen prices drop to incredible lows; some counties in Florida have seen prices drop over 50% in the last 2-3 years. You will be able to get more home now than you could have afforded just a few years ago.

Median Sales prices of Condos in Fort Myers-Cape Coral have dropped from $193,800 in August of 2008 to $126,400 in August of 2009.

In Fort Lauderdale, the median price of a condo in August of 2008 was 133,300. In August of 2009, the price was $85,100.

Single Family prices have dropped as well.

Fort Myers-Cape Coral has seen the median price drop from $146,900 in August of 2008 to $89,300 in August of 2009.

In Orlando, the median single family home price dropped from $204,400 in August of 2008 to $144,200 in August of 2009.

The market will recover eventually, in fact, recent reports show an increase in sales and in sale prices. If you purchase your vacation home in Florida now, you may find that you have a great deal of equity by the time you are ready to make your move relocation permanent.

Consider purchasing now and renting your vacation home. If you treat it as a business you can swap it for another vacation home in the future and take advantage of a tax deferred 1031 exchange, which will defer your taxes on the gain. You can continue to ‘swap’ your vacation home for as long as you want to, building more and more equity in a home that you will eventually move into yourself.

Buying a Florida vacation home and taking your time relocating to Florida could be a good idea too, because the process of moving all at once can be rather stressful. Leaving a home that you have spent a great deal of your life in or raised your family in can be an emotional event, so by moving to Florida gradually, you can ease or eliminate much of the trauma that an all-at-once move could cause.

Maria Norton is the creator of Florida-Retirement.Net, a website designed for those who are considering retiring to Florida or buying second homes there. She is a licensed real estate broker and a 20 year veteran of the Relocation Industry. She provides comprehensive, personalized & free, Florida Relocation Services. She has also published 4 eBooks: A Guide to Establishing Florida Residency, The Florida Beach Book, How to Create the Perfect Retirement & How to Buy a Second/Vacation Home in Florida, which are available on the website. To inquire about her Florida Relocation Services, visit her website at http://www.florida-retirement.net.

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