South Florida is now one of the most expensive places to live in the country, and many people looking for a new home are wondering whether now is the right time to buy. Trusted Advisor and Bankruptcy Attorney Chad Van Horn joined Inside South Florida to break down what the market could look like in the coming months.
“The first thing that I recommend doing if you can, is getting some roommates,” says Van Horn. “With inflation, everything else going on, you're looking at increasing up to 10% of your normal expenses.”
Small businesses are also suffering because of high rents, Van Horn explained why that is.
“Small businesses are getting hit the worst. The large businesses, it's easier for them to pass on the cost to their consumers,” says Van Horn. “Small businesses, when you go into that local mom and pop restaurant, and you're used to paying $5 for that burger, you see it get up to $10, that's going to push business away.”
During the pandemic, the US government sprung into action with SBA loans and different types of financial aid. This allows consumers to get some of their money back by using tax holidays.
So go out there and take advantage of these tax holidays. They're unbelievable ways to save money in this crazy environment,” says Van Horn.
For more information, visit vanhornlawgroup.com
This Inside South Florida Segment is paid for by Van Horn Law Group