Is buying a vacation home or second home in Orlando right for you?
Tourism is still the main focus in the Orlando area and millions of visitors flock here every year from everywhere in the world, making this one of the top tourist destinations in the world. The major theme parks, Disney, Universal and SeaWorld are continually spending millions of dollars on expansion. Our roads, as well as our commercial and retail areas are constantly being expanded and improved. In June 2013, Visit Orlando published an article stating that Orlando has set yet another record with 57 million visitors in 2012, cementing Orlando's standing as the most visited destination in the USA.
What makes our area so popular? Orlando's sunny weather, two international airports, the world's largest theme parks, our great night time entertainment, close proximity to superb beaches on both coasts, our spectacular golf courses and record size shopping malls. More and more companies are moving into Orlando, which is fast becoming known for high tech business. All of these factors make the Central Florida area the fastest growing area in the entire State!
There is no real tourist "off season" here in Orlando, so we often have problems showing Disney area short term rental properties to potential buyers, especially during one of the many peak seasons, such as March Spring Break, Easter, summer school break, Thanksgiving, Christmas and New Year. During this time, most of the short term rental properties that are listed for sale have tourists in them and we are rarely allowed to show properties when they are booked. While this is bad for us Realtors, it is good news for anyone who owns a vacation home for short term rentals, because it shows that the tourist business in Orlando is still thriving.
Compared to other countries and to other cities in the USA, we still get more property for the money here. In addition, the lifestyle is very easy and enjoyable. Since Orlando is the tourism capital of the world, no matter where you are from, you'll feel at home here. You can find many available, inexpensive flights to Orlando. For those from Europe, although the flight is much longer than say, popping over to Spain, once you are relaxing here, the jet lag is soon forgotten!
A vacation rental home is economical too . . .
Let's say there are three to seven people traveling in your party. A 4 bedroom, private pool vacation home would be the ideal way you can spend quality time together and still have the comfort and privacy of your own rooms. More people? There are bigger houses available here. It's simple, you cannot get the same feeling of peaceful enjoyment, togetherness, spaciousness, functionality or value for money in any hotel room!
Let's look at price - to accommodate up to 10 people in a 4 bedroom rental home with private pool would cost an average of $125 per night. To accommodate these same 10 people in 5 medium priced hotel rooms would cost around $600 per night. If you or your family members plan to spend any personal vacation time in Orlando, there is nothing like coming to your own home. Renting it out the rest of the year is a great way to offset most of your operating costs.
Our professional expertise will guide you in making the decision on the right type of vacation or second home for you. Most times we like to encourage you to think of a vacation home as a business investment and will carefully guide you through the selection and purchase process. Be aware that there are pitfalls and false dreams that can lead you to failure! Rarely does owning a vacation home bring you a great income, but with some "hands-on" effort and treating your short term rental as a little business, you can expect to have rental income cover your expenses and mortgage payments. Even if full involvement is not for you, at least you can still receive some rental income to offset your expenses. In addition, you will have the pleasure of personal use of your home. In the end, it is the anticipated property value increase which will give you your return on investment. Check out our section on "Owning An Investment Property" for an idea of estimated income and expenses and what is involved.
What if you prefer not to rent out your vacation home?
Of course, you may have no intention of renting out your vacation home and that's actually the ideal situation, because then you have a much larger choice of property type and location. In other words, you are not restricted to an area which is properly zoned for short term rentals. More and more people these days are looking to escape to their own place away from home, whether for a short weekend break, or for several months. You may even have plans to buy a home now, ready for retirement in a few years. Deciding to invest in a second home allows you to customize your surroundings to your own taste and comfort, with no worries about dealing with renters, booking schedules, extra wear and tear on the property, etc.
Dolby Properties is your vacation home expert . . .
The business of vacation home sales is a very specialized one that requires a lot of experience and knowledge, so you need a company like Dolby Properties Inc. that is not obligated to any seller or builder and will work only in your interest to guide you into a sound investment! This may be the vacation capital of the world, but it is also OUR HOMETOWN and we know it well! Our Broker, Lesley Dolby, holds the Resort & Second-Home Property Specialist (RSPS) designation. She and two of her associates also hold the prestigious Certified International Property Specialist (CIPS) designation, so who better to help you buy your next vacation or second home than Dolby Properties?
Whether your personal taste is to be out in the country, in the heart of the city, by a lake, or by a golf course, we can help you find the ideal second home. E-mail us at firstname.lastname@example.org to get started on finding your dream vacation home.