Buying Your Own Vacation Home
Buying a vacation home in Orlando may seem an exciting venture, but there are many pitfalls and unscrupulous realtors all too happy to fleece you of your money with promises of amazing levels of bookings which will more than cover your costs.
STOP AND GET REAL - Owning your own Orlando vacation home and renting it out is not as simple as creating your own website, registering on loads of villa rental websites and then sitting back waiting for the bookings to roll in - it's hard work and you need to be promoting your villa, townhouse or condo at every available opportunity. Most management companies do rentals for their owners, but they get their clients mainly from tour operators & airlines with so many middlemen, that the actual amount the owner gets from the rental is a fraction and hardly covers your costs.
Also, unscrupulous realtors will try and sign you into a Guaranteed Rental Scheme which supposedly will guarantee you that all your costs will be covered by the rentals. Most realtors get paid by both the seller and the buyer and therefore have no real allegiance to either - they are just in it for the money. Be mindful that realtors and title agents in the USA are not bound by the strict laws that estate agents & conveyancing solicitors in the UK are and are not legally bound to mention anything detrimental which could make you think twice about buying - in the USA its buyer beware and you have to do the searches yourself !!
In reality, the realtor and company guaranteeing you this are the only persons making any money and you will invariably be left with a vacation home which has been abused by the wrong type of renters and left in a run-down state in need of urgent maintenance and unpaid bills - this is usually when new gullible owners realise the big mistake they have made and are left with no choice but to sell up or plough more money in to put right their mistakes.
Do your homework and investigate which developments rent the best ? If you buy a villa on a new development, renters are not going to be happy to have building going on around them - who wants to be woken at 7am to nail guns going ten to the dozen. So before you sign on the dotted line, make sure you know what you are doing and get trustworthy advice.
Many owners in the past have had their dreams shattered and are bitter and much worse off financially than when the went into this venture in the first place - be savvy and you will reap the benefits !!
Now the good news.....
If you are interested in purchasing your own villa, townhouse or condo near Disney or Orlando area without making these mistakes, just drop us a line by email or even better, complete the form below.
We will forward your contact details and information you provide to a trusted realtor we have known for some 20 years and found them to be extremely efficient, helpful and informative, without being pushy and giving you false promises to try to encourage you to buy.
There is absolutely no obligation and the advice given is free and informal.
Make sure you are well informed before making an important property purchase.