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Florida Holiday Home Investment - 5 Key Points |
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If you're thinking of investing in a Florida holiday home, whether it's a condo, townhouse or villa, then why not start by checking through our "5 Key Points". These "Key Points" will give you a good basis to start your research and, of course, Florida Property Agency Ltd is always on hand to help with any questions. If investing in a Florida holiday home is right for you and your family then our Home Buyers Trip has been tailored to help you find the best home to suit your budget and requirements. |
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1 - Researching a Florida Holiday Home |
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Purchasing a Florida holiday home is a big decision and is likely to be a medium to long term commitment. You can find an enormous amount of information on buying properties in Florida on the Internet, from specialist magazines and, of course, chatting with our UK Based Licensed Florida Broker. Start by calculating your budget and then do your groundwork to ensure that purchasing a property in the Sunshine State is right for you - Florida Property Agency can help and advise you with researching available Florida holiday homes, sourcing a UK or US mortgage as well as buying and owning in Orlando, Central Florida. |
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2 - Funding Your Florida Holiday Home |
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There are many Lenders who will fund mortgages for UK Buyers at very competitive rates and, if required, we can provide you with advice as to whether it would be more appropriate to fund a mortgage in US dollars or UK sterling. Before making a commitment to buy and securing a Home Buyer Trip, be sure that there is access to adequate funding to purchase your dream home. Our Typical Purchasing Scenario may help you when calculating your available budget. |
Typical Purchasing Senario : Buying New and Off-Plan Funding 20% of the Purchasing Price / Mortgaging the Remaining 80% (For example purposes only) a) Once you have chosen your Florida holiday home the next step and most common process (depending on the developer) is to secure your property with a $5,000 deposit (some developers may require more). This deposit then holds the property and, more importantly, the purchase price until closing/completion - when buying off-plan this obviously has benefits in a rising property market. b) 10% of the purchasing price (less the $5,000 deposit) normally becomes due for payment within the next 30 days. c) A further 10% of the purchase price is due upon closing/completion of the property, together with the 80% being funded by a mortgage lender. |
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3 - Location of Your Florida Holiday Home |
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As always the location of your Central Florida holiday home is of paramount importance if you are to maximise its rental potential. To ensure your home is attractive to the majority of visitors to Orlando and therefore "ticks as many boxes as possible", it would need to be in a location zoned for short term rentals, and ideally within easy reach of the main theme parks and attractions. Also, consider the type of community for your new home - for example, a resort community may offer gated security and a range of communal facilities such as a club house, gym etc, some communities offer resort facilities plus golf courses, or you might just want a quiet location without all the frills but one that is close enough to the attractions. |
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4 - Management of Your Florida Holiday Home |
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It is usual for a Management Company to, not only take care of your Florida holiday home but to also take care of your Guests, thereby building goodwill and increasing the potential for repeat bookings. Selecting a locally based Property Manager you can trust to take care of your investment is critical - there are many horror stories but as home owners ourselves for a number of years we can share our experiences of Florida management companies and help advise on the "dos and don'ts" of selecting the right one for you. |
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5 - Promotion/Marketing of Your Florida Holiday Home |
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A good way of securing bookings is to work in partnership with your Property Management Company, many of which have links with Tour Operators and travel groups who can be an important source of rentals. To maximise your rental income be prepared to work at promoting your Florida property yourself, making your own contacts (whether they are family, work colleagues or social contacts) aware of your beautiful new rental home in Florida. Creating a website for your home as well as registering and advertising on a variety of cost effective, specialist Owner portals will help produce a flow of rental enquiries. Florida Property Agency Ltd is proud of its "post sale" customer service and (if required) can help with creating a website for your new home and registering with owner portals plus all Florida Property Agency Ltd buyers have exclusive FREE advertising on our website : Owner Rentals |
Make a list of all the questions you have about buying a Florida holiday home and simply give us a call or send an email - you've got nothing to lose! |
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