4 those looking to buy a home in Fl

[vernon]

I know we have a few members with more than a passing interest in buying a second home in Central Florida.

You might find this article from th eOrlando Sentinel interesting. It will take a little while for the extra costs to filter through to the end users (i.e. YOU LOL) but I would think it's likely to lead to higher prices for new homes in Orlando over the next year or two.

http://orlandosentinel.com/business...de01030102mar01.story?coll=orl-home-headlines

 

[kazzie]

Oh Vernon.........if only!

 

[lisag1]

How I wish we'd bought one a few years ago - cheaper sales, better pound, larger plots

Could've had a big 4 bed on a large plot for between $99,000 - $120,000. Why oh why didn't we take the plunge......

And now house prices are going to go up

Lisa

 

[UKDEB]

Although the report reckons the building costs will increase by only around 2% in central Florida. If prices increase by that amount, it's not too bad for better safer homes.

The villa we stayed at in December is $285,000 to buy (not including the furnishings package), so we won't be entering the market anytime soon!

 

[vernon]

While the cost of building will increase by only 2%, it is likely to add a little more than that to the final cost as inspections etc are going to contribute a little extra IMHO.

I do see this as part of a concerted effort by the Florida State government in trying to slow down the demand for homes in Florida, because of the demands they make on the infrastructure and ecosystem of the area. Over the last 4 years there have been at least two tax raises on new homes in an effort to slow demand ( which didn't work) and I doubt if this will make much difference either. September 11th did certainly slow demand but, hopefully, that type of event will never happen again and IMHO unless there is a major change in policy I think Florida will continue to be a growing property market, as more "baby boomers" get to retirement age and realise the comparative cheapness of Florida to buy and the attraction of retiring in a warm climate as opposed to spending the winters in the Northern States of the USA and Canada.

WOW DEB THAT'S A PALACE !!!!! A realistic price for a good size villa with a pool in a nice location is $120,000 to 200,000. The price varies very much with location, if you don't mind being a little further away from the attractions you can get places cheaper than that.

 

[UKDEB]

Trust me to want the most expensive one - story of my life, LOL! Dh reckons I have a homing beacon which takes me to directly to the most expensive item in any shop - doesn't matter what it is: shoes, handbag, three piece suite; you name it, and I will find it!

This is the link to the builders site.

American Heritage Homes, Formosa Gardens

It is the Captiva - click on the view button to see the plans and some photos, although the outside photo they show is actually of the Sanibel, but the interior photos are accurate.

It is a very nice, large 5 bed property (the bonus room they show on the plan is actually a second master in all those I've seen), but there are some on the estate which are 7,8 & 9 beds - goodness knows how much they must be!

 

[Sue F UK]

Deb - trust you to pick the most expensive site in Kissimmee !! The Sanibel and Captiva houses are available on other American Heritage sites at a lower cost. I will dig out the details if you are interested.

Vernon - I guess this report strengthens the case for buying a resale home in Orlando rather than a new home. The properties we have been looking at are on Sunset Lakes. Two year old houses with 5 bedrooms with 3.5 baths an pool overlooking the lake are currently available for $220,000 and come fully furnished and in most cases with a management company and bookings already in place. While I appreciate that it is nice to have a new house the costs on somewhere like Indian Creek are running at $200,000 for a 4 bed home before you add on the furniture package, lot premiums etc. I know that prices are cheaper on the US27 but then so are the returns from rentals and those houses are a long way out from everything.

I am currently praying that a) we sell our UK house to pay for our Florida one and b) that the exchange rate improves significantly from the 1.38% we were getting last week.

 

[lisag1]

Deb,

We were in the Captiva property with the bonus room at Formosa in November. The upstairs rooms was massive!!! How much extra are the properties with the bonus rooms??? I knew they were $285,000 but I thought that was for the 6 bed anyway (gulp!)

I know I've been spoilt by staying there and I don't think now that anything else will compare. Even the Rolling Hills property was $235,000 (I think).

My fave house on Formosa Boulevard was the second or third property as you come into the development on the left hand side past the show-house. Goodness knows how many bedrooms that one had. Do you know the one I mean Debbie??

Lisa

 

[vernon]

Sue, for transferring a larger amount ( more than £10,000) you should get a much better rate, at the moment I would expect while "retail" rate for tourists is no better than 1.38 , you should get more like 1.40 or 1.41 for larger amounts. It does depend on your bank, but IMHO it's worth calling them and asking what type of spread they quote on amounts of that size.

 

[UKDEB]

Lisa,

Do you mean the one with the yacht outside? We called it Southfork!

 

[lisag1]

Yup, that's the one!

If only .........

Lisa