Buying a vacation home investment property can often be a wise decision. Not only can you earn a passive income – you can also enjoy the advantages for yourself when you decide to go on vacation. Longboat Key, Florida is a great place to consider if you’re thinking about purchasing an investment property. It’s one of Florida’s best-kept secrets, featuring attractive amenities for both investors and tenants.
Florida also has a number of reputable property management companies to help you manage your investment property.
Here are nine compelling reasons why you should consider a vacation home investment in Longboat Key, Florida.
1. Great Beaches
Longboat Key has some of the most incredible beaches in the state. The island is located between Sarasota Bay and the Gulf of Mexico, providing 10 miles of public beach. Its uncrowded conditions give the public beach a more private feel.
Beer Can Island, located at the northern tip of Longboat Key, is a favorite oasis amongst locals and offers a beautiful place for picnics, parties, swimming, sunbathing, and more.
2. Low Taxes
Florida’s low taxes are one of the state’s major draws for investors and retirees. Florida does not have a personal income tax and the state sales tax is 6%.
Longboat Key is divided into two counties, Manatee and Sarasota County. Each county carries an additional 1% therefore, the effective sales tax rate is only 7%. This can save you thousands of dollars per year in taxes compared to investing in other states. In addition, the cost of living in Florida tends to be lower than in many other states.
3. Nearby Golf Courses and Resorts
Another reason residents love Longboat Key is the close proximity to world-class golf courses and resorts. The Longboat Key Golf Club is located on the island and features two courses, driving ranges, and a resort with a luxury hotel, spa, marina, and multiple restaurants. Membership is required.
The Zota Beach Resort is another popular favorite that features accommodations, dining, and a pool. It’s a perfect location for those who are looking to relax and unwind. Guests staying at the Zota can enjoy views of the Gulf of Mexico from their rooms or balconies.
4. Less Traffic
Another advantage of vacationing in Longboat Key is that it has less traffic than other nearby islands, such as Lido Key and Siesta Key.
Traffic will vary depending on the time of the year, with the winters seeing more due to the influx of snowbirds fleeing the cold conditions of the north. But generally speaking, residents enjoy a peaceful, low-maintenance lifestyle, with fewer tourists compared to other popular locations.
5. Amazing Weather
The prime weather conditions are another factor that attracts vacationers to Longboat Key.
Residents can expect temperatures in the mid 70’s throughout most of the year, which is ideal for those escaping the cold winters from other parts of the country.
The temperature does rise in June and July, although it is typically hot and humid for only a few months of the year.
The other months are pleasant, with lows around 60 degrees and highs in the low-mid ’80s. Thanks to this weather, Longboat Key offers a variety of outdoor activities, including swimming, fishing, sunning, boating and biking.
6. Family-Friendly Environment
Even though it’s also a popular destination for retirees, Longboat Key is also quite family-friendly as well. There are plenty of local attractions to keep kids entertained.
Longboat Key offers family-friendly activities such as swimming, fishing, kayaking, and boating tours. One of the most popular attractions is the Mote Marine Aquarium located on Ken Thompson Parkway. There are also parks with playgrounds throughout Longboat Key.
The northern part of the island is famous for its native peacock population, which can be a fun sightseeing activity for kids.
Finally, the beaches provide an area where families can enjoy each other’s company without being bothered by loud music or raucous nightlife scenes.
7. Great Fishing and Boating
Longboat Key is an outdoorsman’s paradise boasting a variety of great opportunities for pastimes like fishing and boating.
There are several marinas on the island where residents can dock a boat, including Longboat Key Club Moorings and the Boathouse on Longboat. There are also long stretches of beaches where fishermen can cast a line, as well as numerous charter companies ready to ferry you offshore.
Common fish found in the waters around the island include sheepshead, sailfish, flounder, snook, redfish, and tarpon, making it a popular destination for anglers.
8. Close to Sarasota and Tampa
One of the major drawbacks of living on an island is that it can feel isolating. But one of the major benefits of vacationing in Longboat Key is that you are only a few miles from some of Florida’s most popular cities.
If you want to venture out onto the mainland, Sarasota is just across the bridge and Tampa is only an hour’s drive. Both of these cities offer a variety of shopping, dining, and entertainment opportunities, making them ideal for the whole family.
Siesta Key is also easily accessible and features shopping, dining, culture, and beaches. There are also many recreational activities for you to enjoy.
9. Great Real Estate
Although it’s certainly not the cheapest, there is a lot of great real estate in Longboat Key. The southern portion of the island was developed in the 1980s. Residents can expect well-maintained, gated communities and gorgeous high-rise condominiums.
Some of the older homes in the northern portion of the island date back to the early 1900s and have a distinct old Florida charm, which many residents love.
With a limited supply and a high demand for housing, you should expect competition when looking for a property. But if you are willing to be patient, you can often find a great opportunity on a stunning vacation property that will pay for itself if you rent it out to tenants.
Longboat Key is an idyllic community that features a variety of activities and attractions for locals and visitors. Some of the finest features of South Florida living can be found here.
There are numerous reasons why residents and vacationers flock to the island, ranging from pristine beaches to resort-style amenities to low taxes.
If you’re thinking of investing in a vacation home in South Florida, Longboat Key is definitely worth looking at. The island is particularly attractive to renters from all over the country, resulting in steady passive income that you may use for a free vacation whenever you choose.
Need help? Contact Brista Realty and let us find you the perfect investment property.