Holiday homes in Orlando

[Strommie]

Me and my DF are starting to think about looking into buying a holiday home in Orlando, and renting it out for some of the time. Has anybody got any advice, or experiences of doing this (good or bad)?? Any help much appreciated

 

[Shropshire Saint]

Hi Strommie,

We bought in April after researching for well over 4 years, pm me if you have particular questions or you would like a realtor recommended.

The single biggest point to remember is doing your research. Drive round communities & make a note of those you like. Draw up a list of whats important to you, then if you are renting what will be important to your guests.Look at both new build & resale properties. Then do some more research on absolutely everything you can.

If you are renting, IMHO you need to be prepared to work to obtain bookings. Dont believe everything a management company tells you.

We dont regret it one bit. We are incredibly happy with our house.

Good luck with it

 

[allie5]

We have looked into this recently (after deciding DVC wasnt for us).

Property prices in the Orlando area have risen considerably in the last 3 years and you are looking at around $250-300k + for a decent sized pool home in the "20 mins to Disney" catchement. Be careful when you look for homes, as only certain developments are allowed to be used for short term rentals. You will find some real bargain homes in Orlando, but often these are in residential areas and unable to be used for rentals, so bear that in mind when you look.

To buy a home priced at $250k you will need between £30k and £50,000 in "cash" for your deposit, fees and costs. This was quite a bit more than we anticipated! You need at least a 20% deposit and preferably more than that.

Definately find yourself a good realtor that is used to dealing with Brits. There are several that are easy to find on the net. Find one you are comfortable with.

The main choice you will have is either to buy new from a developer, or a resale. There are pros and cons with each, so weigh up the options. If you buy from a developer, sometimes your home may not be ready for over year, but they do offer lots of incentives like free furniture packages or upgraded appliances for example.

Another option maybe to have a look at some condos or townhouses. These tend to start around $150K, but you also have maintenance fees to take into consideration.

My best advice is to research, research, research! Good luck!

 

[Strommie]

Hello, thanks for this. Will definitely get in touch if we want some more info