Property buying

[lguard123]

Hi guys,
First time here after being to Disney for the first time just got back on Wednesday 27th Nov and I loved it. So much so I am looking to buy a property over there to rent out to pay for future trips and have a base when we do go back, hopefully very soon. Does anyone know the in and outs of buying over there, would be grateful.
Cheers simon

 

[Sleepy Dragon]

My folks are just going through the buying process now and came back yesterday from their latest trip to sort out builders etc. They're buying 3 villas in Eagle Pointe and have had no problems so far with the builders.

Before you get into purchasing a property you really need to spend some time searching around builders/areas as there's so much development going on. My dad did a lot of research on the internet but you also need to really spend a lot of time looking at the area in person.

Dad was very surprised with the foundations - they literally have concrete poured into a hole in the ground - beacause it's sand any sort of foundations would not take a proper hold so there's no digging down deep into the earth beneath!!!!

My advice is do lots and lots of research - there's so much competition for guest due to the amount of property being built and don't bank on your property being let 100% of the time!!!

HTH

Julie

 

[Olaf]

Originally posted by Sleepy Dragon
My folks are just going through the buying process now and
Dad was very surprised with the foundations - they literally have concrete poured into a hole in the ground - beacause it's sand any sort of foundations would not take a proper hold so there's no digging down deep into the earth beneath!!!!

It's called a "slab foundation" and that's the way most houses in the states are built. On the East Coast and parts of the midwest, you'll find basements. The reason they don't dig in FL is because of the water table being so high. If you dig down five feet, you hit water.

 

[Sue F UK]

Hi Simon,

We bought our beautiful villa in Kissimmee last may and have found it to be a very steep learning curve. As Julie says, you need to do as much research as possible and never believe what the builders and realtors tell you.

You basically have two options when buying: new build or resale.

New build homes tend to be further away from Disney out on the HWY 27 and the prices quoted do not include furnishings (add at least $15,000) You get to have quite alot of input into the building/furnishing process and get to choose furniture etc.

Re-sale homes are existing homes that people are selling for one reason or another. These can be slightly cheaper as they come fully furnished but you take them as they are. The advantage of these is they are available immediately and can be located much closer to Disney.

We went along the re-sale route and now have a beautiful villa on Sunset Lakes which we have spent some extra money on to give it a 'personal' touch.

Realtors will give you the idea that you just hand the villa over to a management company and they will fill it with guests but that is NOT the case. Your management company will fill 12/15 weeks of the year (if youre lucky) and the rest is up to you. You will probably need 30/35 weeks to break even and pay your mortgage and costs. So you will need to learn to do your own marketing/web site/internet advertising in order to make it pay.

I am not trying to put you off buying, having a villa in Orlando is great fun but as I said, a steep learning curve, and not something to be entered into without getting as much information from all sources that you can. If you would like to PM me I would be happy to answer any specific questions you may have.