Introduction: Why is it So Popular to Live in PtG and Why Would You Buy a Home Here?
Punta Gorda, Florida is a small town located on the south west coast of Florida. Punta Gorda has historically been an agricultural and fishing based community until the 1950’s when a new commercial and residential district was established by the US Army Corps of Engineers to accommodate people migrating to Florida as colder weather became stronger in upstate north eastern states. The town was then known as “Punta Gorda Isles”. Growth continued and in 1975 the community changed its name to Punta Gorda and incorporated as such. Today Punta Gorda is a thriving community of approximately 28,000 people. It is the county seat of Charlotte County and boasts a low crime rate, excellent school system and cleanliness which draws many people to live within its borders. As one would expect, the demographics of the area changes as more people move in and the natural landscape becomes more urbanized. The area is equally well known for its beaches, boating and fishing activity.
Why would anyone want to live in Punta Gorda?
Well, it’s not just any community. It is a fully functional town that offers all your needs. Without question, Punta Gorda offers a great quality of life at a very affordable cost. As an example, the average home price is $174,900 which may be considered to be more than affordable as you can expect to pay approximately $1600 a month to live on this side of town. This price includes the entire town and its amenities. The home sizes range from 1600 square feet to 2660 square feet with the median size being 2200 square feet.
Why would one want to buy a home in such an affordable community?
Punta Gorda is often seen as a summer getaway for many people. The community is beautiful and is surrounded by the beauty of nature with its beaches, boats and fishing activity. The winters in this area are mild with temperatures ranging from 80 degrees F to 70 degrees F.
What Are the Benefits of Living in PtG?
The greatest benefit of living in Punta Gorda is the weather, it is consistently tropical and there is never extreme cold or snow. The water surrounding the area provides clean beaches, fun activities and great fishing. There are numerous golf courses and a large park for active people, who want to spend their time outdoors. Punta Gorda has low crime rates and a short driving distance to many of the great attractions that Florida has to offer. There are shopping locations, restaurants and a variety of night life for everyone.
The best part of living in PtG is the great, friendly service you will receive. The people that live here and work here, are very helpful and happy to see you. You will also find that it is easy to get things done around town by working with the local community. Most people in this area like to be around other people and have a good time, so there are many activities for the whole family.
The best part of living in PtG is the friendliness and helpfulness of the residents. It is easy to find someone to go out with or help you find a part time job or temporary services such as babysitting. The local Police Officers are very helpful and friendly, they are willing to talk to you whenever you need assistance. They will try their best to keep the area safe. The roads around PtG are well maintained at all times and make it easy for people visiting here from other areas. PtG has a beautiful harbor and beach that provide people a safe place to relax, work and play.
Where Can You Find Houses for Sale in PtG?
Punta Gorda has a wonderful variety of homes for sale. One can visit the Charlotte County Realtor website www.VirtualHomeShowdown.com to view the new and existing listings available for purchase in Punta Gorda, as well as throughout Charlotte county. This website is very user friendly and you are able to view virtually any home within our county from your desk top or you can use their mobile app called “home dash” which allows instant access to listings from your smart phone. The website also allows you to narrow your search by price, number of bedrooms, number of bathrooms and other amenities that may be important to you. You can also research the value of your home as well as any comparable home values within the area. Keep in mind that this website has a large amount of information on the biweekly sales report, sales trends and many other valuable tools for the home buyer or home seller.
There are also many other websites available to you that provide search capabilities for the listings in Punta Gorda. One such website is www.CharlotteHomes.com which also has a mobile “home dash” app. This website is a sister site to www.VirtualHomeShowdown.com and can provide listings from many states within the US. Many times the Charlotte County Realtor site will have more information or links to the information available at this website.
PtG Real Estate Market Review
Punta Gorda has many diverse neighborhoods in which to invest in real estate. The 4 main cities with the most available area for real estate are Punta Gorda, Port Charlotte, North Port and Englewood. As an investor, you can get land for a reasonable price (or free) and build your own home or lot. Most of the residential areas in this area are $180,000-$350,000, depending on the location.
The commercial area also has locations in which you can invest your money in an already established business or start your own. The median price per square foot of office space is $30-35/sq ft while homes cost $110-155/sq ft and lots are $27000-$30000 per acre.
70% of the residents in the area are retired. 16% work for themselves and 31% are employed. The average household income is $107,000 with a median net worth of $1 million
Purchasing vs Renting a Home in PtG
Buying a home in Punta Gorda is an excellent investment, as you will be able to sell your home at a higher value than renting one. However, buying a home has many responsibilities and risks; your monthly mortgage payments along with property taxes and insurance may be higher than rental payments but these expenses are offset by the free services such as homeowners association fees, maintenance and yard care. Also, purchasing a home in Punta Gorda may require you to pay more for maintenance and improvements. This can be a risk if the value of your home decreases after you have purchased it.
But buying a home in PtG is a good idea. The average price per sq. ft of residential waterfront property in Punta Gorda is $45,000 as of March 2011, and waterfront property sellers are motivated to sell. Along with such property taxes as real estate taxes, you could end up with an extra $500-$1500 annually for the services you would receive from the homeowners association (HOA) and your neighborhood association (NAHCO).
If you do decide to purchase a home, you will have many different financing options available. You can apply for a hard money loan with rates as low as 8% or an FHA loan with rates as low as 3.75%.