Largo is the fourth-largest city in the Tampa Bay area, with a total population of around 82,000. Many real estate investors look to Largo as a source of long-term gains, and the city’s rental market is very healthy. Investing in Largo real estate today is a good way to make short-term gains if investors are willing to renovate older properties, or long-term gains can be made on rental homes.
- Largo is a city in the Tampa Bay area
- The city’s median age is 48 and median property value is $152,000
- Largo is a solid investment for buyers looking to rent out property
- Many people live in Largo and commute to Tampa
- Largo’s best areas have good schools and attractive green spaces
- Largo’s biggest industry is healthcare
The Best Investing Strategies In Largo, FL
It’s possible to make healthy profits investing in Largo real estate if you’re cautious about when and where you invest. Largo is a mid-sized city with a healthy rental market that’s appealing to visitors and residents from across the US.
Investors have three main choices when buying real estate in Largo: buy a cheaper property to flip for a fast profit; buy a property to rent out to residents for a safe and steady income; or buy a property to rent to tourists on a short-term basis for a higher ROI.
Each of these strategies is viable in Largo, but they all come with their own risks. It’s possible to make a ROI of over 9% on short-term vacation rentals in Largo, but many investors choose to opt for safer long-term renting to reduce their risk and market exposure.
Largo, FL Real Estate Investment Tips & Tricks
If you’re considering investing in Largo, FL real estate, it’s important to do your research and consult with local market experts. Read our tips and tricks below to find out how to make smarter investing decisions when purchasing Largo real estate:
- Consider the local climate: Largo, like many other parts of Florida, is often vulnerable to extreme weather events including hurricanes and flooding. It’s important to check the risk level of these events for any property you’re considering buying and factor this into the cost of your investment.
- Consult a real estate agent: Largo’s property market is unique, and only a local real estate agent will be able to help you identify market trends and conditions that could make or break your investment. Consult a local real estate agent to benefit from their expert advice and negotiation skills.
- Define your goals: It’s important to know what your investing goals are when you purchase a real estate investment in Largo. Do you want to buy an older property and flip it for a profit, or do you want to rent out a property to make more long-term gains? Your investing goals should inform your buying decisions.
Is Largo, FL, A Good Real Estate Investment?
Property in Largo, FL is a good real estate investment. Largo is a growing city with lots of appeal to families and young professionals. It’s just a short drive from all the jobs and shops of Tampa, but the city itself is large enough to provide local amenities, healthcare, and other essentials for its residents.
Largo has demonstrated consistent property value increases over recent years and strong interest from buyers coming from Largo and other parts of Florida. Rental properties in Largo perform well, and the relatively affordable median property price of $152,000 means that Largo is affordable for most investors.
While other cities in the Tampa Bay area have higher house prices than this, Largo remains an attractive place to live for residents looking for affordable housing. As house prices across Florida increase, Largo property prices will likely increase as well.
Is It A Good Time To Invest In Real Estate In Largo, FL?
It’s a good time to invest in Largo real estate. As well as rising property prices, Largo offers investors the chance to buy property in a city that’s still very much developing. New community development initiatives are underway in Largo every year, and these initiatives aim to improve the city’s transport links, economy, education, and parks and recreational facilities.
Short-term rentals, such as those advertised on sites like AirBnB, are also growing in popularity in Largo. Renting out your Largo real estate investment as a short-term rental can increase your ROI, although it also comes with added costs and risks. Investors seeking high profit margins can capitalize on local tourism in Largo to maximize their gains.
Best Areas And Neighborhoods To Invest In Largo, FL
When you’re looking for property to purchase in Largo, it’s important to research local areas and identify the neighborhoods that will best suit your investing goals. For example, if you want to buy a family home to rent out to a local family, look for 3 and 4-bedroom homes in an area with good schools and local amenities.
Belleair Bluffs is a pretty neighborhood that’s filled with picturesque green spaces and lots of shops and restaurants. The homes in Belleair Bluffs are clean and modern, and lots of families and young professionals choose to settle in this area. Belleair Bluffs also boasts one of the lowest crime rates in the city.
Another popular area in Largo is Oakhurst, a quiet neighborhood that’s especially good if you’re looking to invest in a single-family home or a condominium. Oakhurst is close to the beach and is especially well-loved by people looking to stay close to nature.
Other areas of Largo that remain appealing to buyers include Imperial Point, Del Prado, and Harbor Hills. Harbor Hills is especially popular with families, who value the excellent local schools and quiet streets.
Main Activities, Attractions, And Employers In Largo, FL
Largo is an attractive city with lots of appeal. It’s known for its parks and green spaces including the Florida Botanical Gardens and Largo Central Park. There’s a lot to do for families, including an Aquatic Centre and the Sky Zone trampoline park, and Largo itself is only a short drive from all the attractions, shops, and restaurants of Tampa.
Since the decline of Largo’s agricultural industry in the 1960s, the city is now primarily a commuter town. Largo has an aging population, and hospitals are currently one of the city’s biggest employers. Other employers in the city are primarily in the retail and services areas, with many professionals working in nearby cities.