Sun Sentinel Palm Beach Edition
Facing a commute
It’s about a 35-minute drive from Westlake to downtown West Palm Beach. Boca Raton is about a 50-minute journey.
Ned Murray, a Florida International University professor studying South Florida’s real estate market, said he suspects many buyers will be willing to move to this now out-of-the-way locale.
As housing prices increase, people are often forced to live farther from their jobs, which can be problematic, he said. On average, Palm Beach County residents already spend 65 percent of their income on housing and transportation costs, according to Murray’s research. Ideally, that number would not exceed 45 percent.
The county’s median sales price is out of reach for about 82 percent of Palm Beach County’s households, Murray said.
Developers are offering downpayment assistance — up to 3 percent of the purchase price in the form of an interest-free loan — along with discounts for government and civil service employees.
Ken Johnson, a housing economist at Florida Atlantic University, said he expects Westlake and other new communities in the area will have no shortage of interest in today’s market.
“Florida is going to keep growing,” Johnson said. “A lot of it is it’s fun to live here. We have great weather.”
Felicia Latchaw, 30, walked through several model homes this week. The single mom of three works at a medical office in Wellington.
Even though the land is mostly empty now, Latchaw said she could see a future for herself and her children in Westlake.
“I am looking for more of a community setting,” she said. “Palm Beach County is very expensive, but this is where all my family is, so this is where I want to be.”