Listed below are some very helpful and extremely important tips if you are considering purchasing a Florida private rental villa or Disney rental house.
Before my wife and I became Florida villa owners, we spent many months investigating if and where we should buy an investment property. Should the villa have a pool and / or spa, should it be close to Disney World, how many bedrooms and bathrooms should it have ? How will I obtain a mortgage and what type of mortgage is best? These are just a small sample of the many questions that you will need answered before taking that final step of buying your dream Florida villa. vikendica markov manastir
Florida is extremely well known for its large and beautifully designed properties, year round sunshine, many attractions, exquisite beaches and inexpensive lifestyle. We wanted a holiday home that we could enjoy with our family and also rent out to help cover the cost of the mortgage.
After many months of trawling the internet, speaking to various property companies and existing Florida villa owners we were ready to purchase our very own Disney World rental home. We needed to select a good development area, choose our own plot and decide on the style of the property to be built. We eventually decided on a single storey home in Kissimmee. Once it was completed, it was everything we dreamed it would be.
You have already taken the first step toward purchasing your home by reading this article. Though buying a property in Florida is relatively uncomplicated we still hear many stories of people who have had problems in one way or another.
Please don’t forget that the experience of buying your Florida villa should be pleasurable and exciting. From visiting the various developments, choosing the plot and house that is right for you to finally making the purchase.
Location, location, location
The next step to buying your home requires some ground work to be done by yourself prior to arriving in Florida. Firstly decide where you want to buy. Do you want the villa to be close to Orlando’s many theme and water park attractions or do you prefer to be near the beaches? If you prefer the beaches, do you prefer the Gulf Coast or the Atlantic Coast. Whichever you decide, as with all investment properties location is very important. Once you have decided on your location, you must decide the type of property, the number of bedrooms, bathrooms, pool, etc. Do you want to be on a small development or larger resort development, do you want a gated or non gated community.
And last but not least what is your budget.
Do You Need To Rent Your Property ?
This is a very important question as it will determine where you can buy. Only certain communities in Orlando are zoned for STR (Short Term Rental). Please do not accept any verbal guarantees from salespeople regarding STR without checking in the covenants and restrictions of the developer.
One of the most important decisions you will make is choosing the development which suits your needs best. Remember not all developments allow short term rental and if you intend to rent your property this is the single most important item you must consider.
Remember the developers’ agent is acting on behalf of the builder, and is bound by law to obtain the best possible deal for the builder, not for you. Some builders and management companies offer guaranteed rental programs. These include a minimum income for an agreed period (usually 12 months) or alternatively, a minimum number of weeks booked for the year. What you are not told however is what the income will be for those weeks or what the agent will rent your property out for (for example, you may receive £350 per week but the agent is renting it out for £450 per week).