WHY BUY ORLANDO INVESTMENT VACATION HOMES FOR SALE?

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Over the last 20+ years, Orlando vacation homes have increased in popularity with both owners and renters.  Resort condos, townhomes and vacation pool home rentals have increased in demand, often showing a significant income for investment home buyers. There are dozens of vacation home rental communities in the Orlando Disney tourist corridor.  Some were top communities in their day too.  However, in the last 15 years, resorts have become bigger and better and more glamorous than ever.  So where you purchase a home is extremely important, not just for rental returns but also resale value. Another huge consideration, is choosing a real estate agent that is familiar with all of these communities.  I am an accredited Resort and Second Home Property Specialist (RSPS) and Accredited Buyer Representative (ABR).  I also have the CLHMS Certification for Luxury Home Marketing for luxury home sellers , NHCB - New Home Co-Broker Designation and Gold Key Certification (GKC) -  The Excellence in Professionalism - The Gold Key Certification distinguishes you as a real estate professional who has demonstrated the highest level of commitment to professionalism and service .  I also have a background in vacation home rentals as well, so I know this market extremely well.

Why Orlando, FL?

Orlando, The City Beautiful, has always been a vacation destination.  Millions of visitors flock here every year to enjoy the sunshine, great golf courses, stunning beaches, exciting theme parks, or even just relax in one of our luxury vacation homes in some of the best resorts this country has to offer.  Since the pandemic, we have noticed a difference in the way Americans vacation.  They’re starting to come here more often, and for longer periods of time. I think the pandemic changed a lot of people’s perspectives on what was really important in life, and with more people working from home, we have been seeing thousands a month, decide to make Central Florida their personal forever home.  You can see why… with no state income tax, Florida is a place to make more of your money as well.  We have a great, all-year-round climate, the most famous theme parks in the world, and some of the best restaurants as well. With the glamorous gated communities, modern homes and often, amazing views and sunsets, it’s like you’re on vacation every day in Orlando.  Contact me for further information on Visions Resort at Orlando West Florida.

What should I know about buying an investment short term rental vacation home close to Disney World in Orlando?

Apart from the obvious, which is location, you should be aware of over saturation of certain homes or size homes. Equally, you should also be aware of homes that are currently needed on the market.  Also, you need to make your agent aware if you intend to use the home yourself during the year. Certain communities have, what we call, a “30 day rule” which means that you, or your guests, cannot occupy the home for more than 30 days at a time.  If you intend to stay longer, then maybe one of these communities are not for you.  Another consideration are game rooms in garages.  There are communities that just don’t allow these in their HOA documents. Unaware owners have been forced to convert them back to the original garage.  If they have been allowed and converted, have they been permitted by the local county?  Only an expert in these types of resorts can give you all the answers that you need. You’ll need to know about occupancy rates, rental rates and even the growth in the last 12 months with regard to resale value.  

Let's talk about views

Yes, let's! I have seen many buyers get carried away on glitzy game rooms and Disney themed bedrooms. Is this important for rentals? Yes it can be.  But these are things that can be added by a new owner.  But the lot your home sits on, or where your condo faces, that is something that's set in stone. So take a moment to think about not just the rental aspect of the home, but also the future resale ability. Homes that have conservation views, water views, or even just privacy to the rear; these are very important factors as well.  As the years have gone on, renters (and buyers) have become more specific as to what they want in a home.  No longer are renters just looking for a pool home, or condo with pool access during their stay. Not only are they giving us a list of exactly what they expect when they get there, but how they want the home to look. It stands to reason, right? For most, a Disney vacation is the holiday of a lifetime and costs several, if not many, thousands of dollars.  They want what they want.... and that usually means a new(ish) home with upgrades they may not have at home (large heated pool, spa, Disney themed rooms, game rooms) whilst retaining all the comforts and accommodations of home at the same time.  It's a large order to fill, but done right, you could potentially have a little gold mine on your hands. There's a lot of competition out there, it's time to get creative and unique to set your home apart from others on the market.

Do your own research

There's many websites out there that can help you in your due diligence. www.airdna.co is a great website to help you ascertain what the home could bring in, in terms of nightly rental income. Looking at www.airbnb.com and checking out other vacation rental homes on offer by existing owners will give you a feel for how well owners are doing with their own rentals, and you can see what type of furnishings and decorations appear to attract the renters as well.  When it comes to things like themed bedrooms for the kids, you'll see what was popular 5 years ago, may have been replaced by something else today.  It's important to keep up with the trends.  Modern, good quality furniture is a must.  You will likely have a lot of traffic in your home. You'll need furniture that can stand up to this.  Imagine kids running in wet from the pool, and now think of a cloth sofa in the living room as the kids go to sit down without giving it a second thought.  Would leather sofas be a better idea? Perhaps.  Of course, how you choose to decorate your own home is down to you, but think of it also from a rental aspect, with heavy usage, and you may need to change your ideas up a little.  Your management company, or even a local furniture package company, can give you advice in this regard.

What else do I need to know when purchasing an investment vacation home for sale in Orlando, FL near Disney World

So many considerations, a lot of choices; it’s easy to make mistakes. 

The first consideration you must take into account is.... is this home actually zoned for short term rentals, and what do the HOA docs say about those rentals? If you're looking to do nightly rentals but the HOA docs state the minimum lease period is 1 month, then this home might not be the one for you. You need to be specific as to how you wish to use the unit yourself (if applicable), how long, and what type of rentals you wish to achieve.

The best advice I can give you is to have the best people beside you helping you throughout the process, from expert real estate advice, to top management companies and furniture package companies. Some buyers go direct to the builder.  They believe they’ll get the best incentives by cutting out the middle man.  It ain’t necessarily so!  Remember, the sales associate at the builder represents THE BUILDER.  They do not represent you.  Of course, they’ll want you to go direct to them. They don’t have to pay an outside sales agent and they know you are not represented.  Yes, you WILL need representation when buying a new home. Any home, in fact.  This is not a process you should guide yourself along in, especially if this is your first time.

Ask me about my EXCLUSIVE new home buyer deals, which work hand in hand with existing builder incentives!  They’re a win-win situation for you!

The fact is, you’re likely to do better with an expert real estate agent at your side.  They will fight your corner and get you the best deal that they can.  Most builders are not negotiable on pre-construction pricing any way.  To do so, would adversely affect the comps for existing home owners and future sales.  They are unlikely to do that for you, just because you went direct.  Incentives, now that’s another matter. Get your real estate agent to fight for the most incentives for you.  They’re the one with boots on the ground and likely to know how far that builder is likely to go.  They may even be aware of incentives that the builder doesn’t make apparent to you, as they fight for their own best price and terms.

An experienced Orlando, FL short term rental vacation home real estate agent will be knowledgeable about where to purchase.  They will have day to day experience of these Orlando resort homes and communities.  They will know all of the in's and out's, giving you information that might not be readily apparent to you. They'll let you know the ones that are likely doing the best in sales and rentals.  They'll also tell you the problematic ones.... and why.  Of course, at the end of the day, the choice is yours and yours alone.  But definitely take advantage of that knowledge.  It will prove invaluable to you.  

For further information about condos, townhomes and luxury houses for sale in Visions Resort Orlando, please contact me today.