One of the questions I get asked almost every day is…

“Cara, should we wait until next year to buy in Florida?”

And my answer is always the same…

It depends what you’re waiting for.

If you’re waiting because you haven’t found the right house…

Wait.

If you’re waiting because your finances aren’t where they need to be…

Absolutely wait.

But if you’re waiting because you think next year will magically bring lower home prices, lower interest rates, more inventory, and a better financial opportunity…

I think that’s a gamble.

Here’s why.

The market is already changing.

Just a few months ago, many Southwest Florida markets had between 7½ and 9 months of inventory.

Today, we’re closer to 4 months of inventory in many of the areas I serve.

I’ve personally put more homes under contract over the past five months than I had during much of the previous year, and I’m hearing the same thing from other experienced agents throughout Southwest Florida.

Does that mean prices can’t soften?

Of course not.

No one has a crystal ball.

But I am seeing something very different than I was seeing six months ago.

Good homes are selling.

Buyers are coming back.

Inventory is shrinking.

So while everyone is debating what the housing market might do…

Almost nobody is talking about what Florida might do.

And I think that’s a mistake.

There could be another financial factor that matters just as much as the purchase price.

Florida voters are expected to decide this November on a proposed constitutional amendment that would significantly increase Florida’s Homestead Exemption for qualifying homeowners.

If you’re moving from another state, you may have never heard of a Homestead Exemption.

Here’s the simple version.

When you make Florida your primary residence and qualify for Homestead, a portion of your home’s assessed value is exempt from certain property taxes.

In simple terms…

You could pay less in property taxes every year simply because Florida recognizes your home as your primary residence.

It’s one of the biggest financial advantages of becoming a Florida resident.

Let’s put that into real numbers.

Let’s use a $500,000 home in Southwest Florida as an example.

If this proposal is approved and you qualify for the full additional exemption, the estimated tax savings could be approximately $2,000 to $3,000 per year, depending on your home’s assessed value and local tax rates.

That’s approximately $167 to $250 every month.

Over five years, that’s roughly $10,000 to $15,000 that stays in your pocket instead of going toward property taxes.

Now ask yourself…

How much would home prices have to drop to make up that difference?

How much would interest rates have to change to save you another $200 every month?

That’s why I think buyers should be looking at the entire financial picture, not just one piece of it.

Here’s the part almost nobody is talking about.

Timing.

If this proposed amendment is approved, homeowners who already have Florida Homestead established by December 31, 2026 could qualify for the larger exemption beginning in 2027 as it phases in.

If you wait until after January 1, 2027, you would generally begin with today’s Homestead Exemption and, under the current proposal, wait five years before becoming eligible for the larger county and city exemption.

Read that again.

Five years.

That’s the detail I think buyers deserve to know before deciding to “wait and see.”

This isn’t about creating panic.

It’s about creating a strategy.

If you’ve followed me for any length of time, you already know I’ll probably talk you out of more homes than I’ll ever talk you into.

If a home is overpriced…

If the inspections scare me…

If the boat access isn’t what you thought it would be…

If I don’t believe it’s the right investment…

I’m going to tell you.

Every single time.

Because my job isn’t to convince you to buy a house.

My job is to help you make a smart financial decision.

Right now, I’m seeing inventory tighten while Florida is considering one of the biggest Homestead tax changes we’ve seen in years.

Those two things together make me think buyers should be asking a different question.

Instead of asking…

“Do you think prices are going to come down?”

I think the better question is…

“If I wait, what could it actually cost me?”

Maybe prices soften.

Maybe they don’t.

Maybe rates improve.

Maybe they don’t.

Nobody knows.

But if this proposal passes, waiting could also mean missing out on years of potential property tax savings.

That’s a conversation I think every future Florida homeowner deserves to have before making one of the biggest financial decisions of their life.

If you’re thinking about relocating to Southwest Florida, let’s build a strategy around your goals, your timeline, and the numbers, not just the headlines.

I’d much rather have a 30 minute conversation with you today than a 30 second conversation next year that starts with…

“I wish I’d known that.”

Disclaimer: This article is for informational and educational purposes only and should not be considered legal, tax, financial, or investment advice. The proposed Florida Homestead Exemption changes discussed above are not currently law and would require voter approval before taking effect. Any tax savings examples are estimates for illustrative purposes only. Actual savings will vary based on your property’s assessed value, local millage rates, taxing authorities, eligibility, and future legislation. Always consult your CPA, tax advisor, attorney, lender, or your local Property Appraiser before making decisions based on tax laws or proposed legislation. This information is believed to be accurate at the time of publication but is subject to change.